Apec summit ends with call to tackle pressing issues

The 31st edition of the Apec Economic Leaders’ Week has wrapped up with host nation Peru saying it has furthered three objectives, including fostering inclusive and sustainable economic growth. The leaders also issued a joint declaration, calling for a concerted effort in tackling issues such as climate change. Speaking to local and international press at the end of the week-long Apec meeting, Peruvian President Dina Boluarte said she was honoured to have hosted the leaders of the bloc’s 20 other economies. She also praised the professional work of her colleagues for the past year, saying it has reaped immense rewards. Those included the signing of a free trade agreement with Hong Kong, and updating the existing one with China, its biggest trading partner. Boluarte also reiterated three thematic priorities - trade and investment for inclusive and interconnected growth; innovation and digitalisation to promote transition to a formal economy; and sustainable growth for resilient development. Just before making her concluding remarks, the Peruvian leader and her counterparts got together one final time for the family photo, a longstanding tradition for the Apec summit. The session offers a chance for the host nation to showcase their traditional attire, but Peru decided to use the occasion to promote their textile products made of alpaca fibre. Each leader was given a vicuna wool scarf from a local luxury brand. The price tag? US$1,415. A few hours after the summit concluded, the customary Leaders’ Declaration was released. The goals were similar to those in past years, including tackling climate change, reforming the World Trade Organisation, and achieving food and energy security.