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Media kit: Finance Ministers' Meeting

 

The pandemic has exposed and exacerbated structural vulnerabilities in economies globally. The APEC region has not been immune and unprecedented economic policy interventions have been required to weather the fallout of COVID-19.

The APEC 2021 Finance Ministers’ Meeting will bring together ministers from APEC’s 21 economies on 22 October. Finance ministers will discuss what policy actions are needed to combat and recover from the pandemic, while also tackling climate change, supporting inclusive and sustainable growth, and improving the wellbeing of people across all APEC economies.

This media kit provides background information and supporting media materials for the Finance Ministers’ Meeting (FMM). It also includes a guide to media accreditation.

The APEC New Zealand media team is committed to providing you with access to everything you need to cover APEC 2021 remotely, so please do not hesitate to contact us if you have any queries or requests.

Contacting the media team

Media registration enquiries: APEC2021Support@mfat.govt.nz

All other media enquiries, including interview requests: APEC2021media@mfat.govt.nz

Click here to view the APEC 2021 meeting calendar for the rest of the year.

Official APEC 2021 channels

Website: www.apec2021nz.org

Social media: Follow along #APEC2021

APEC Secretariat channels

Website: www.apec.org

Social media:

Media registration and resources

APEC 2021 accredited media

Media who have already completed the APEC 2021 accreditation process will receive information regarding the FMM.

If you are unsure if you have already been accredited, or how to access the APEC 2021 participation portal, email APEC2021Support@mfat.govt.nz.

New media registrations

All media who are part of an APEC media delegation must be registered by their economy’s Media Accreditation Officer, via the APEC 2021 Registration Portal.

If you are not part of an APEC media delegation, not already accredited for APEC 2021, and wish to register as a media delegate, you will need to apply by emailing APEC2021Support@mfat.govt.nz. We will need the following information:

  • Title (Mr/Mrs/Miss/Ms/Dame/Sir/Dr/Prof)
  • First name and surname
  • Gender (male/female/gender diverse)
  • Email address
  • Mobile phone number, including international dialling code (for example +64). This phone number will be used to receive a secure two-factor authentication code to log into the APEC 2021 virtual meeting platform
  • Media organisation
  • Job title
  • A photo of your business card or press card; or an email or letter confirming your employment.

Once your application is approved, you will receive an email confirming your media accreditation for APEC 2021 with further information regarding account set up. You will be accredited for the rest of the year and each virtual media event will appear in your calendar 48 hours before the event’s scheduled start.

If you need assistance with the registration process at any stage, please contact APEC2021Support@mfat.govt.nz.

Media materials

  • Immediately after the FMM concludes, the following materials will be sent to accredited media:
  • Post-meeting media release from APEC Secretariat
  • Post-meeting media release from New Zealand’s Deputy Prime Minister, Minister of Finance and APEC Finance Ministers’ Process Chair, the Honourable Grant Robertson
  • Link to Joint Ministerial Statement
  • Recording of the Chair’s opening remarks
  • FMM family photo
  • Behind-the-scenes images of FMM under way
  • B-roll (with no audio) of FMM under way

High definition video files and high resolution images will be uploaded to APEC 2021’s media assets portal for easy download by media.

What happens at the Finance Ministers’ Meeting?

APEC economies are facing many similar challenges as we combat the pandemic. This meeting provides an opportunity for Finance Ministers to exchange views on the policy choices available. As well as hearing from others, we will use this opportunity to share New Zealand’s experience and views on the way forward.

Bringing Ministers together to discuss what they can do to support the recovery from 
COVID-19 and tackle other challenges is a key part of New Zealand’s hosting of the Finance Ministers’ Process. Ministers will discuss how best to deliver policies that address long-standing challenges such as debt sustainability, targeting support to where it is needed most, and tackling climate change. The Joint Ministerial Statement will include acknowledgements on the importance of strong fiscal and budget policy, which can deliver for all citizens, and the importance of safe, effective, quality-assured and affordable vaccines.

Policy discussions at the Finance Ministers’ Meeting

Economic activity in the APEC region has increased, with many economies recovering much of the output lost in the first wave of the COVID-19 pandemic in mid-2020. For the APEC region as a whole, real GDP is expected to grow by over 6 percent in 2021. Large-scale fiscal and monetary policy support, the roll-out of vaccines and opening up of economies have contributed to this rebound.

However, the recovery is far from complete and is characterised by great divergences across and within economies. Some sectors, such as those reliant on cross-border people flows, micro, small and medium-sized enterprises (MSMEs), and some groups in society, such as women and Indigenous peoples, continue to be disproportionately impacted by the pandemic.  

The economic recovery also remains exposed to downside risks. The spread of new variants of the COVID-19 virus leading to additional waves of infection, and different paces of vaccination, together with economic challenges such as ongoing supply chain disruption and, in some instances, increased inflation, are some of the risks facing economies. Some of these risks have risen in prominence for some of us in recent months.

Finance ministries, central banks and financial regulators continue to respond to the impact  of COVID-19. As the region manages the social, economic and health impacts of the pandemic, it remains essential that APEC finance ministers continue to work together for a sustainable and inclusive recovery that capitalises on the opportunity to build a more resilient future. To use climate change as an example, green bonds and other forms of sustainable investment, as well as effective carbon pricing, can be used to assist in addressing this challenge. We can build functioning international carbon markets, which will help create incentives to transition towards cleaner technologies. Financial assistance from larger economies can ensure that costs do not fall on those less able to pay. And a priority action that we can take now is to commit to a voluntary standstill of fossil fuel subsidies.

The Finance Ministers’ Meeting will provide an opportunity for ministers from across the APEC region to discuss what policy actions are needed to combat and recover from the pandemic, while also tackling climate change, supporting inclusive and sustainable growth, and improving the wellbeing of people across all APEC economies. The role of fiscal policy and approaches to budget management will be a specific area of discussion.

Ministers will also agree on the refreshed Cebu Action Plan implementation strategy, which encourages economies to pay due regard to APEC’s new guiding document, the APEC Putrajaya Vision 2040, and APEC’s new structural reform agenda, the Enhanced APEC Agenda for Structural Reform.

Background on the Cebu Action Plan: This was agreed by Finance Ministers during the Philippines’ 2015 host year and sets out the 10-year high-level work programme of the Finance Ministers’ Process. 2021 marks the year of a mandated mid-point review. The review gives an opportunity for economies to consider the impact of COVID-19 and the recently agreed Putrajaya Vision 2040. As part of the strategy refresh New Zealand has recommended the adoption of a Champion Economies model which would allow individual economies to volunteer to run multi-year work programmes on specific policy issues.

APEC 2021 policy priorities

New Zealand’s three policy priorities for APEC 2021 are shaped by the COVID-19 crisis and focused on bringing the region together to promote an inclusive, sustainable and resilient recovery.

There has been considerable progress made on these policy priorities this year, most significantly at the Ministers Responsible for Trade Meeting where ministers agreed measures to improve the distribution of COVID-19 vaccines and reduce harmful subsidies to fossil fuels and overfishing. The Finance Ministers’ Meeting will provide an additional opportunity to deliver on these policy priorities.

1. Economic and trade policies to strengthen recovery

This priority focuses on APEC’s economic response to COVID-19. It is about encouraging trade and economic policies, including macro-economic and microeconomic responses that will helpthe region bounce back as quickly as possible.

For 30 years, APEC has stood for open trade. It is critically important that markets remain open, which is reflected in APEC’s renewed efforts to rebuild confidence in the multilateral trading system and the WTO this year.

Progress under New Zealand’s leadership has already seen APEC economies agree to speed the cross-border flow of vaccines; economic reforms to kick-start growth, create new jobs and help combat climate change; and agree a programme of work on sending a strong signal on our shared commitment to the WTO.

2. Increasing inclusion and sustainability for recovery

This priority acknowledges the need for the region’s long-term response to COVID-19 to be sustainable and inclusive of all people. It is about enhancing the participation of groups such as women and Indigenous peoples in the economy, and ensuring their contributions are valued. It will also ensure the region’s recovery can be used to improve sustainability outcomes, including in the area of climate change.

Building from the Putrajaya Vision 2040, now is clearly the moment for APEC to explore economic incentives that respond to the region’s environmental challenges. There is an opportunity for APEC to take its work on environmentally harmful subsidies further and also support the liberalisation of goods and services that support a sustainable recovery.

Progress under New Zealand’s leadership has already laid the groundwork for a voluntary standstill on fossil subsidies; work to update APEC’s List of Environmental Goods and to develop a list of Environmental Services; and work to ensure the indigenous economy is of relevance to APEC.

3. Pursuing innovation, and a digitally enabled recovery

The final priority focuses on accelerating APEC's work in support of the digital economy. The pandemic has dramatically accelerated digital transformation across trade, commerce, and the provision of public services, including healthcare services. 

Just as APEC has successfully embraced virtual hosting, economies must come together to advance APEC’s Internet and Digital Economy Roadmap with a view to enhancing inclusion, driving the adoption of green technology and supporting a vital pathway to lifting regional economic growth.

Progress under New Zealand’s leadership already includes locking in digital and paperless customs procedures; agreement to explore initiatives that facilitate solutions to travelling under COVID-19 conditions; and agreement to progress the APEC Internet and Digital Economy Roadmap to promote inclusion and green technology.

Putrajaya Vision 2040: The implementation plan

With the APEC Putrajaya Vision 2040 agreed in 2020, APEC economies are now working towards a detailed plan of action to make the vision a reality. This plan will be a key document in setting APEC’s agenda for the next 20 years, including a monitoring mechanism.

The implementation plan will expand on the three economic drivers of growth agreed to by the region in the Putrajaya Vision: trade and investment; innovation and digitisation; strong, balanced, secure, sustainable and inclusive growth. The implementation plan is APEC’s most important task for the year, and a core focus for New Zealand as host.

Putrajaya Vision 2040

At the APEC 2020 Leaders’ Meeting, hosted by Malaysia, APEC economies agreed the Putrajaya Vision 2040. It replaces the previous Bogor Goals, which guided APEC’s work up to 2020,  and outlines a vision of an open, dynamic, resilient and peaceful Asia-Pacific community, for the prosperity of all people and future generations.

Supporting media materials 

Website content

Official media releases

Video

Documents

APEC 2021 in one page, an overview of APEC and New Zealand’s host year.