APEC 2021 has delivered the Aotearoa Plan of Action, a plan to implement the Putrajaya Vision 2040. The Putrajaya Vision 2040 strives for an open, dynamic, resilient and peaceful Asia-Pacific community by 2040 for the prosperity of all ...
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APEC 2021 has delivered the Aotearoa Plan of Action, a plan to implement the Putrajaya Vision 2040. The Putrajaya Vision 2040 strives for an open, dynamic, resilient and peaceful Asia-Pacific community by 2040 for the prosperity of all our people and future generations.
NOW PLAYING • APEC 2021: Apec leaders pledge to freeze $500 billion fossil fuel subsidies
APEC 2021 has delivered the Aotearoa Plan of Action, a plan to implement the Putrajaya Vision 2040. The Putrajaya Vision 2040 strives for an open, dynamic, resilient and peaceful Asia-Pacific community by 2040 for the prosperity of all ...
Leaders of some of the world's largest economies have agreed to freeze "inefficient" fossil fuel subsidies, which currently amount to NZ$500 billion a year.
The agreement was reached during the Apec Economic Leaders' Summit overnight, hosted by New Zealand.
Leaders of the 21 countries - including Chinese President Xi Jinping, US President Joe Biden, and Russian President Vladimir Putin - also pledged to work together to defeat Covid-19, lowering trade barriers on vaccines and other essential products, and further digitise trade.
"Apec leaders are more determined than ever to work together to defeat Covid-19, accelerate the region's economic recovery, respond to climate change, and build growth that is inclusive of all our people," said Prime Minister Jacinda Ardern, who chaired the meeting.
But deep tensions run through the unlikely group of 21 nations and territories that include the United States, China, Taiwan, Russia, and Australia.
Prime Minister Jacinda Ardern chaired the Apec Leaders' Summit held virtually overnight. Photo / Supplied
The meeting culminated Apec 2021, and capped leaders' week, which earlier saw Chinese president Xi Jinping warn the Asia-Pacific region could not "relapse into the confrontation and division of the Cold War era" - seen as a reference to recent efforts by the US and Australia to increase geo-political pressure on China in the Pacific region.
Asked about those tensions Ardern said the meeting, which started at midnight Friday New Zealand time and was held virtually due to Covid-19, instead saw "consistency" particularly around climate change, sustainability and responding to the pandemic.
The climate pledge comes as world leaders gather in Glasgow, Scotland, for the COP26 climate conference, described as a last hope to get consensus on limiting global warming below 1.5C.
Ardern said the fossil fuel subsidy freeze, which New Zealand had been pushing for, was significant given three of the four largest users of these subsidies were included, and she had "every expectation it will be fulfilled".
Asked if given these were voluntary countries would follow through, Ardern said as with all Apec declarations this was reached by consensus, and she expected they would do so.
The meeting followed an "informal" meeting in July, when leaders committed to speed the flow of vaccines and vaccine-related goods and ensure "widespread and equitable access", particularly to developing countries.
Leaders overnight confirmed these commitments, including supporting a temporary waiver of intellectual property rights of Covid-19 vaccines, and digitising processes for medical products vital to combating the pandemic.
Apec leaders wearing their New Zealand-made merino scarves and capes. Photo / Supplied
The Apec summit came ahead of a much-anticipated online summit between US President Jo Biden and Chinese president Xi Jinping, expected on Monday, and regarded as a step to ease tensions between the two superpowers.
Asked about this, Ardern said the pandemic had seen an urgency in distributing goods around the world and move away from protectionism or nationalism, and a "commitment from Apec countries to overcome those issues".
This week also saw discussion around the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), a major free trade agreement involving New Zealand and 10 other countries, with China and Taiwan both having applied to join and Xi referring to it earlier in the week.
Ardern said Apec was not the platform for those discussions, but repeated an earlier line that "any country who wishes to meet the high standard of the CPTPP is welcome to enter into their process".
Apec leaders highlighted indigenous economies as a driver for the Covid-19 recovery, with perspectives of the region's 270 million indigenous people inside Apec prominently for the first time this year.
This year leaders progressed the Apec Putrajaya Vision 2040, adopted in 2020, and endorsed the Aotearoa Plan of Action to implement it over the next 20 years.
The vision focuses on fostering trade and investment; innovation and digitalisation among member countries.
Leaders also discussed offers from the United States and Peru to host Apec in 2023 and 2024 respectively.
Asked about reports Russia had prevented the United States being confirmed in the final draft declaration, Ardern said she couldn't speak to the draft but expected "issues to be resolved" by the end of this year.
"Prior to this year Apec had no hosts lined up for 2023 and 2024," Ardern said.
"I'm therefore very pleased that the United States and Peru have offered to host in 2023 and 2024 respectively and look forward to future hosting arrangements being confirmed as soon as possible."
The Apec summit will be held in Thailand next year.
Apec Leaders joint declaration:
· Rejected vaccine nationalism, with Apec members lowering tariffs on vaccines and related products to combat Covid-19, speeding them through customs, and opposing export bans.
