Structural reform took center stage as ministers and economic officials from 21 Asia-Pacific Economic Cooperation forum (APEC) member economies convened virtually Wednesday to advance the region’s sustainable and resilient recovery from the COVID-19 pandemic.
Ministers and officials said the Enhanced APEC Agenda for Structural Reform will help member economies prioritize their work in the next five years and chart the course towards a strong, sustainable and inclusive economic growth for the region.
Officials responsible for structural reform from APEC member economies issued a joint statement following their virtual meeting, chaired by New Zealand Minister of Commerce David Clark.
The statement identifies initiatives in three key areas that APEC will undertake to reduce behind-the-border barriers and promote strong, balanced, secure, sustainable and inclusive growth in the region: supporting a sustainable and resilient recovery from the impact of COVID-19, refreshing the APEC structural reform agenda, and utilizing a variety of tools to advance structural reform and other business.
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