Some 3,000 delegates from 21 member economies of the Asia-Pacific Economic Co-operation (APEC) forum congregated at the year’s third senior officials meeting (SOM) held in Indonesia from June 22 to July 6 to prepare for the upcoming APEC Summit slated for Bali in October.
Over more than two weeks, 68 sessions were held to consider main contents for the APEC Summit, with priority given to issues relating to regional connectivity and trade and investment promotion within APEC.
Participants agreed that it is important to encourage the development of small and medium enterprises, empowering women and farmers, and facilitate travel by APEC businesspeople.
APEC members reached consensus on the need to continue trade liberation, and at the same time noted that the process must be carried out through policies that could reduce the gap between advanced and developing countries and taking into account each member’s economic conditions.
The host Indonesia proposed 19 initiatives relating to free and open trade, energy, climate change, infrastructure development, and regional integration and connectivity, which won support from APEC members.