Asia-Pacific Economic Cooperation (APEC)

1. At the meeting, the response toward the post-COVID-19 era and a new vision that shows the future direction of APEC were discussed.
2. Prime Minister Suga stated the following three points as key priorities for the economic growth in the COVID- and post-COVID-era and emphasized that Japan would actively contribute to realizing the new APEC vision.
   • (1) Accelerating of a digital transformation and achieving a decarbonized society
     • (i) Establishment of an agency in charge of digital transformation to serve as a command in the government and unleashing the potential of the private sector. Taking the lead in international rule-making related to digital trade under the concept of Data Free Flow with Trust (DFFT).
     • (ii) Accelerating a virtuous cycle of environment and growth by maximizing the use of innovation toward the goal of achieving carbon neutrality, which will reduce greenhouse gas emissions to net-zero by 2050. Leading initiatives to realize a stable supply of energy by diversifying energy sources and improving energy resilience.
   • (2) Promoting free trade and strengthening of connectivity
     • (i) Reaffirming that under international rules, the liberalization of trade and investment as well as strengthening connectivity will support a free and open Indo-Pacific. It is necessary to make free and fair international economic rules and to maintain and strengthen the multilateral free trade system. While continuing to promote WTO reform, Japan will aspire high quality and comprehensive Free Trade Area of the Asia Pacific (FTAAP), through the steadily implementation and expansion of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the early conclusion of the RCEP (Regional Comprehensive Economic Partnership) agreement.
     • (ii) While enhancing the resilience of the supply chain by promoting the diversification of overseas production bases and utilizing digital technology, and helping quality infrastructure investment to spread and take root, Japan will contribute to the further strengthening of connectivity.
   • (3) Inclusive economic growth
     Under the concept of "leaving no one behind," Japan will strengthen our efforts based on the concept of "human security”, including the promotion of Universal Health Coverage.
3. In addition, Prime Minister Suga expressed his determination to spare no effort to hold the Tokyo Olympic and Paralympic Games in a safe and secure manner in the summer of next year.
4. At the meeting, “2020 Kuala Lumpur Declaration” (APEC Economic Leaders’ Meeting Declaration) (PDF) and “APEC Putrajaya Vision 2040” (PDF) (see Note) were adopted.

(Note) A document demonstrating the direction of APEC after the “Bogor Goals,” which were decided at the APEC Leaders’ Meeting in 1994 and declared to “achieve the goal of free and open trade and investment no later than the year 2020.”