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Delivering on the APEC Vision – New Zealand’s big priority


20 October 2021

APEC has a big, ambitious 20 year vision which aspires to achieve an open, dynamic, resilient and peaceful Asia -Pacific community for the future prosperity of all people and future generations. One of the most important priorities for New Zealand in our 2021 APEC host year is to guide development of a plan that will give life to this vision.

Officially adopted by APEC leaders during Malaysia’s 2020 host year (and named after the Malaysian city of Putrajaya), the Putrajaya Vision 2040 demonstrates a shifting of focus for APEC to engage on not only traditional trade and investment issues, but also innovation, digital, inclusion and sustainability.

As host of APEC in 2021, New Zealand is leading the completion of an implementation plan which will see member economies take action to achieve the Vision’s goals by 2040. This implementation plan is hugely significant as it will shape economic growth in the Asia Pacific region for the next two decades.

New Zealand officials have been working with their counterparts across the 20 other economies throughout the year to create an implementation plan that is crisp, clear and measurable. It will have milestones so every five years we can collectively check in on how we are tracking against the vision and, where necessary, refresh the plan and set refreshed and relevant five-year goals.

Successfully completing this plan will be an important legacy for New Zealand’s host year, highlighting APEC’s commitment to creating an open, dynamic, resilient and peaceful Asia-Pacific community for future generations.

Timeline

 2021 – creating a plan to implement the Vision

New Zealand has been working with the 20 other member economies throughout 2021 to create a plan that will bring the Vision to life– a Vision that will shape economic growth in the Asia-Pacific over the next 20 years.

Our aim is to have the implementation plan endorsed and launched publicly at the virtual APEC Leaders Economic Meeting on 13 November. This is the final APEC meeting for 2021, and the pinnacle of New Zealand’s host year.

2020 – Putrajaya Vision 2040

On 20 November, during Malaysia’s 2020 APEC host year, leaders officially launch the new APEC Putrajaya Vision 2040 that will chart the future of the region. Leaders envision an open, dynamic, resilient and peaceful Asia-Pacific community by 2040, for the prosperity of all of the people and future generations. The Vision demonstrates a shifting of focus for APEC to engage on not only traditional trade and investment issues, but also innovation, digital, inclusion and sustainability.

APEC senior officials are tasked by leaders to complete a comprehensive implementation plan for their consideration in 2021.

Read the Vision - APEC Putrajaya Vision 2040

1995 – 2020 – Bogor Goals

The Bogor Goals inspired member economies to pursue actions to reduce barriers to trade and investment. These actions resulted in a region-wide drop in average tariffs, which were 17 per cent in the 1980s, and today are only around 5 per cent. Free trade and investment do not rely on tariffs alone, though.

How well did economies do? Watch From Bogor Goals to Putrajaya Vision (apec.org)

1995 – Osaka Action Agenda

In order to meet APEC's Bogor Goals for free and open trade and investment in Asia-Pacific, APEC member economies follow the strategic roadmap as agreed by APEC Economic Leaders in Osaka, Japan in 1995. This roadmap is known as the Osaka Action Agenda and it outlined the individual and collective actions economies followed to work towards the Bogor Goals.

1994 – The Bogor Goals

The Bogor Goals, one of APEC's founding documents, were released in 1994 for members to move towards the long-term goal of free and open trade and investment in the Asia-Pacific region no later than 2020.