APEC Summit Produces Vision 2040 and Kuala Lumpur Declaration

Photo: Presidential Secretariat

Bogor, MINA – The 2020 Asia-Pacific Economic Cooperation Summit (APEC Summit) on Friday ratified two documents, namely the APEC Putrajaya Vision 2040 and the Kuala Lumpur Declaration (Kuala Lumpur Declaration).

“APEC Putrajaya Vision 2040 is a continuation of the Bogor Goals which have reached their 2020 deadline and this new vision will become the next foundation for APEC’s cooperation for the next 20 years, “said Foreign Minister Retno Marsudi, as quoted in a press release from the Cabinet Secretariat of the Republic of Indonesia.

The Foreign Minister explained APEC Putrajaya Vision 2040 focuses on four things. First, strengthening the trade and investment system, secondly developing innovation and digitalization, third ensuring regional resilience through strong and quality growth in the APEC region, and fourthly, the spirit of strengthening APEC institutions and establishing 2040 as the limit for achieving APEC’s vision.

The second document, the Kuala Lumpur Declaration, generally emphasizes the commitment of APEC economic leaders to immediately cooperate in handling the pandemic, recovering the economy, including taking advantage of new economic opportunities, such as the digital economy, and promoting sustainable, inclusive and innovative development.

“For Indonesia, this year’s APEC is a very important meeting. Considering that the implementation of APEC is carried out in the midst of a pandemic situation and declining world economic growth, “said the Foreign Minister.

Apart from that, she added, there was also a sharpening of rivalries between major countries, which was seen at the previous APEC meeting that was unable to produce an agreement document.

“2020 is also the deadline for the Bogor Goals. At this year’s APEC, it was agreed, once again, that APEC Putrajaya Vision 2040 will continue the vision of the Bogor Goals from 1994, ” said the Foreign Minister.

The APEC Summit this time was chaired by Malaysian Prime Minister Muhyiddin Yassin as chairman and host of APEC 2020. Besides being attended by 21 leaders of APEC countries, the summit was also attended by IMF Managing Director Kristalina Georgieva.

New Zealand will host the leaders next year as chairman of APEC 2021. (T/RE1)

Mi’raj News Agency (MINA)