APEC launches Putrajaya Vision 2040 implementation plan for future cooperation in Asia-Pacific

WELLINGTON, Nov. 13 (Xinhua) -- The Asia-Pacific Economic Cooperation (APEC) on Saturday launched the Aotearoa (New Zealand) Plan of Action towards achieving the Putrajaya Vision 2040 for future cooperation in the Asia-Pacific region at the 28th APEC Economic Leaders' Meeting.

The Aotearoa Plan of Action aims for an "open, dynamic, resilient and peaceful Asia-Pacific community by 2040, for the prosperity of all our people and future generations."

It set out individual and collective actions on three economic drivers, namely trade and investment, innovation and digitalisation, as well as strong, balanced, secure, sustainable and inclusive growth.

The APEC member economies reaffirmed support for agreed upon rules of the World Trade Organization (WTO) in delivering a well-functioning multilateral trading system and promoting the stability and predictability of international trade flows.

They will implement APEC's Connectivity Blueprint, including by strengthening connectivity and resilient supply chains within APEC, according to the plan.

They also vowed to promote sustainable growth across sectors and the development of cost effective low and zero emissions technologies, sustainable finance and, if appropriate, carbon pricing mechanisms, while ensuring energy security, access, reliability and resilience through energy transition.

On digitalization, the APEC member economies will strengthen digital infrastructure, accelerate digital transformation, narrow the digital divide, as well as cooperate on facilitating the flow of data and strengthening consumer and business trust in digital transactions.

In a bid to "embrace continuous improvement of APEC as an institution," APEC also plans to explore ways to discuss the possibility of expanding APEC members and observers, according to the plan.