The Apec Economic Leaders’ Week recently came to a close in Peru, with the host nation highlighting three main objectives, one of which was to promote inclusive and sustainable economic growth. During the week-long meeting, leaders from 20 different economies gathered to address pressing issues, with a particular focus on climate change.
In her address to the press, Peruvian President Dina Boluarte expressed her gratitude for the opportunity to host the summit and commended her colleagues for their hard work over the past year. She highlighted the success of signing a free trade agreement with Hong Kong and updating the existing agreement with China, Peru’s largest trading partner.
President Boluarte also emphasized three key priorities for the summit: trade and investment for inclusive growth, innovation and digitalization for a more formal economy, and sustainable growth for resilient development. These priorities reflect the shared commitment of Apec leaders to address economic challenges and promote cooperation among member economies.
As the summit drew to a close, the leaders gathered for the traditional family photo, an opportunity for the host nation to showcase its cultural heritage. In this instance, Peru used the occasion to promote its textile products made from alpaca fiber, presenting each leader with a vicuna wool scarf from a local luxury brand valued at US$1,415.
Following the conclusion of the summit, the Leaders’ Declaration was issued, outlining key goals for the coming year. These goals include addressing climate change, reforming the World Trade Organization, and ensuring food and energy security. These objectives build on the ongoing efforts of Apec economies to strengthen economic cooperation and address global challenges.
Overall, the Apec Economic Leaders’ Week in Peru was a success, with leaders reaffirming their commitment to fostering sustainable and inclusive growth. The summit provided a platform for dialogue and cooperation among member economies, highlighting the importance of multilateralism in addressing complex economic issues. As Apec continues to play a crucial role in shaping the economic landscape of the Asia-Pacific region, the outcomes of this year’s summit will be crucial in guiding future cooperation and collaboration among member economies.