Conference Center, Far Eastern Federal University
Russky Island, Vladivostok
09 September 2012
The 21 APEC members gathered on the second day of their meeting as the APEC 2012 Leaders’ Week wraps up in Vladivostok.
In their final declaration, the leaders welcomed several commitments and outcomes from their meetings as they worked under the APEC 2012 theme of “Integrate to Grow, Innovate to Prosper.”
They recognize that robust international trade, investment, and economic integration are key drivers of strong, sustainable, and balanced growth. Being all members of the World Trade Organization, they strongly reaffirm the commitment to trade and investment liberalization and facilitation in the Asia-Pacific region.
In the rise of protectionist trends, the leaders pledge to refrain through the end of 2015 from raising new barriers to investment or to trade in goods and services, imposing new export restrictions, or implementing WTO-inconsistent measures in all areas.
They also welcome the establishment of the Policy Partnership on Food Security (PPFS) and the outcomes of its meeting this year.
APEC members commit to achieve an APEC-wide target of a ten percent improvement in supply-chain performance by 2015, in terms of reducing time, cost and uncertainty in moving goods and services through the Asia Pacific region.
The leaders believe that the work has been done in this year’s APEC summit to build a more integrated society and ensure innovative economic growth in the common goal of achieving prosperity for APEC economies. Enormous progress has been made since its first meeting in 1993, trade has grown four times and foreign direct investment in the Asia-Pacific region has been growing at an annual rate of more than 20 percent.
Indonesia will host next year’s APEC in Bali while People’s Republic of China, Philippines and Peru will host APEC in 2014, 2015 and 2016 respectively.