The 2020 APEC Leaders' Kuala Lumpur Declaration called on economies to support the global economy, which has been hit hard by the COVID-19 pandemic, with free and open trade; the 2021 APEC set "supporting recovery through economic and trade policies" and "supporting recovery through inclusiveness and sustainability" as key issues throughout the year.
The APEC Putrajaya Vision 2040 hopes to build an open, dynamic, resilient and peaceful Asia-Pacific Community; and supports APEC to enhance trade and economic integration, advance structural policies to reduce behind-the-border barriers and promote strong, balanced, inclusive, sustainable, and secure growth in the Asia-Pacific region.
The COVID-19 pandemic still poses severe challenges for the world economic recovery. Overcoming the pandemic and recovering economy has been more of a priority for all economies. Under the background of industrial specialization and spatial dispersion of production process, it is crucial for member economies to coordinate with all relevant industries, especially the private sector in the up and downstream supply chains across different areas so as to achieve economic recovery. We look forward to fruitful discussions of strengthening cross border supply chains in the APEC region to support trade and the implementation of the EAASR, Putrajaya Vision 2040 and Aotearoa Plan of Action.
The project will organize online workshop with participants of government officials, experts, scholars and entrepreneurs from all APEC economies. It aims to pull their insights on analyzing major issues and challenges in the industry chains in their economic recovery process. It will also discuss best practices of how cross-border supply chains can contribute to the reopening of economies, enhancing the resilience of supply chains to minimize lag-times for supply chains to recover from shocks, facilitating domestic and cross-border flow of people and goods in the system of production and logistics, the role of digital technologies and latest innovations in improving supply chain resilience, and promoting epidemic prevention and control measures in factories. Deliverables of discussions will be disseminated in digital format for the reference of APEC economies in their decision-making to help achieve a strong, inclusive and sustainable economic recovery in the Asia-Pacific region.