IANS | 20 Nov, 2023
The 30th Asia-Pacific Economic Cooperation (APEC) Economic Leaders'
Meeting concluded in San Francisco with the adoption of Golden Gate
Declaration on creating a resilient and sustainable future for all.
"We
must harness technological and economic progress to continue to unleash
the enormous potential and tremendous dynamism across our region, spur
economic growth, as well as to address all environmental challenges,
including climate change," the declaration says.
The declaration
was adopted late Friday night after the two-day meeting, during which
the leaders focused on the subjects of sustainability, climate, just
energy transition, interconnectedness and building inclusive and
resilient economies, reports Xinhua news agency.
In the document,
the leaders have reaffirmed their determination to deliver a free, open,
fair, non-discriminatory, transparent, inclusive, and predictable trade
and investment environment.
They also reaffirm the importance of
the rules-based multilateral trading system, with the World Trade
Organization at its core, which continues to catalyze APEC region's
extraordinary growth.
APEC economies are committed to enhancing
their capacity building and technical cooperation efforts in support of
economies' readiness to participate in high quality and comprehensive
regional undertakings, according to the declaration.
"We will
continue to work to ensure a level playing field to foster a favourable
trade and investment environment," the declaration says.
The world continues to confront profound challenges posed by the impacts of climate change.
The
leaders recognise that more intensive efforts are needed for economies
to accelerate their clean, sustainable, just, affordable, and inclusive
energy transitions through various pathways, consistent with global
net-zero greenhouse gas emissions or carbon neutrality by or around
mid-century, while taking into account the latest scientific
developments and different domestic circumstances.
APEC economies
vow to accelerate the transition towards low and zero emissions
vehicles; sustainable aviation fuels; and low and zero emission maritime
shipping and port decarbonization, reads the document.
The
leaders also reaffirm their commitment to create an enabling, inclusive,
open, fair and non-discriminatory digital ecosystem for business and
consumers.
The leaders' meeting, held in Moscone Center in
downtown San Francisco on Thursday and Friday, gathered political and
business leaders from the 21 APEC member economies.
The leaders'
meeting is the highlight of the APEC Leaders' Week, held in San
Francisco on November 11-17 with the theme of "Creating a Resilient and
Sustainable Future for All".
The US is passing the APEC host year responsibilities to Peru as the host of APEC in 2024.
This
year marks the 30th anniversary of the first-ever leaders' meeting that
took place in 1993, when the host country -- the US -- upgraded the
APEC meeting mechanism from the ministerial level to the level of an
informal leaders' meeting.