JOINT STATEMENT of THE 13th APEC MINISTERIAL MEETING
Shanghai, People's Republic of China 17-18 October 2001(Part IV
Promoting Sustainable Economic Growth
Economic Committee Report
58. Ministers endorsed the Economic Committee (EC)'s Report for 2001 and welcomed the progress made in its four core
projects: (1) 2001 APEC Economic Outlook; (2) the New Economy and APEC; (3) the Benefits of TILF; (4) the Implementation
Plan for KBE Recommendations. Ministers welcomed the 2001 APEC Economic Outlook especially its thematic study on
financial development and economic growth, which is particularly timely in face of the current global economic slowdown
and member economies' collective resolve to foster long-term economic vitality. They also endorsed The New Economy and
APEC report that offers a conceptual framework and useful elements for creating an environment in which the New Economy
could develop. Ministers acknowledged the importance of the Benefits of TILF projects, which emphasized the creation of
more open and free trade and investment environment. Ministers urged the continuous implementation of the KBE
Recommendations and instructed the EC to continue its work on KBE issues. Interaction with the Finance Ministers'
59. Ministers welcomed the outcomes from the 8th APEC Finance Ministers' process, and were encouraged by the efforts
and contribution made by the Finance Ministers under the policy theme of "Growth with Restructuring, Stability and
Equity" in the year of 2001. They acknowledged the important role of the Finance Ministers' process in taking
appropriate policies in a timely manner and constructing a stronger macroeconomic foundation for the region in the long
60. Ministers welcomed the practice of strengthening linkages and communications between the Finance Ministers' process
and the SOM process in 2001 with a view to ensuring the work programs coordinate and complement each other. Given the
current global and regional economic downturn, Ministers further underlined the importance of continuing the
inter-process briefing and exchange of views between the Finance Ministers' process and SOM on a regular basis so as to
facilitate information sharing and coordination.
61. Ministers welcomed the APEC Finance and Development Program proposed by China, which aims at enhancing capacity
building in the areas of financial market management especially for developing economies across the APEC region.
62. Ministers also welcomed the report "Towards Better Company Accounting and Financial Reporting" prepared for and
accepted by the APEC Finance Ministers, and encouraged member economies to raise awareness of the importance of robust
financial reporting, accounting, auditing and enforcement practices supported by a sound legal, professional and
Social Impact of the Crisis
63. Ministers welcomed the recommendations of the Ad Hoc Task Force on Strengthening APEC Social Safety Nets (SSN).
They endorsed the proposed establishment of an APEC SSN Capacity Building Network that, in the first instance, would
focus on capacity building to implement the SSN recommendations made by the Finance Ministers and in the study conducted
in the HRDWG. Ministers welcomed the proposals by Korea and Thailand to co-organize an international meeting to address
specific capacity building issues on SSN.
64. Energy security stands as an important issue for economic development and regional prosperity. In light of the
terrorist attacks in the United States, Ministers directed the EWG to intensify its work on strengthening the security
and reliability of affordable energy to all in APEC, through such means as exchange of information and experience on oil
stockpiling, on facilitating energy efficiency and conservation, and on facilitating improved stability in the provision
of energy supply to meet demand. They called for further energy technology development, exchange, application and
deployment, and for the facilitation of a diverse and efficient supply mix to avoid the risks posed to the economy by
volatility in the international oil market. Ministers welcomed the progress made on the Energy Security Initiative and
directed the EWG to implement the concrete work in the progress report on the Initiative. They also called on economies
to encourage greater private sector involvement in the EWG work program and the EWG to cooperate closely with the EWG
Business Network. Ministers requested Senior Officials to report in 2002 on progress made in the Initiative.
Interaction with the Community
Dialogue with ABAC
65. Ministers welcomed the ABAC Report to Leaders, Common Development through Market Opening, Capacity Building and
Full Participation. They noted the four key messages to the Leaders, calling on APEC economies (1) to accelerate
progress towards the Bogor Goals of trade and investment liberalization and facilitation; (2) to demonstrate strong
support for the launch of new WTO round; (3) to take decisive measures to stimulate economic growth and accelerate
financial reforms; and (4) to adopt a balanced approach to globalization that combines market opening, capacity-building
and full participation. In light of the broadening and deepening of regional and global economic integration, Ministers
noted that the four messages presented by the ABAC Report contribute to the APEC process in the new century. Ministers
recognized that regular consultation with business, including SMEs, would ensure that APEC work remains focused and has
practical usefulness for business. Ministers also noted the importance of the BizAPEC website for APEC's engagement and
communication with business.
66. Ministers commended China and Canada for their initiative in organizing the highly successful APEC Youth
Festival/Young Leaders and Entrepreneurs Forum, welcomed in particular the complementarity between this event and APEC
work in connection with engagement with the private sector, the new economy and human capacity building, and encouraged
that complementarity with the APEC agenda be a key characteristic of future APEC projects aimed at young people.
67. Ministers commended Mexico's offer to organize the 2002 APEC Youth Festival.
Framework for Integration of Women
68. Ministers commended Ad-hoc Group on Gender Integration (AGGI)'s achievements over the past two years and endorsed
SOM's report on the Implementation of the Framework for the Integration of Women in APEC. They endorsed SOM's
recommendations including the extension of AGGI's term to the end of 2002 in order to enable it to complete its work.
69. Ministers emphasized the importance of and their commitment to the involvement of women in the activities of APEC.
They instructed officials and APEC fora to continue to ensure that women are involved in and benefit from their work.
Ministers tasked officials to complete the development of monitoring mechanisms to ensure the sustainability of gender
mainstreaming initiatives in APEC.
70. Ministers welcomed Mexico's offer to host the Second Ministerial Meeting on Women in 2002, and urged members to
ensure full participation in the lead up to and during the meeting. Ministers took note of the proposed research project
on fostering SMEs and micro-businesses through IT capacity-building for women.
Communications and Outreach Strategy
71. The movement towards global integration presented the greatest opportunity to deliver higher living standards and
improved social well-being for APEC communities. Ministers reaffirmed that the benefits of globalization should be
shared by and be better communicated to APEC communities. In this regard, Ministers welcomed the report on
"Globalisation and Poverty: Turning the Corner". Ministers also noted that ABAC has expressed its intentions to improve
its outreach and encouraged continuous efforts in fostering productive partnership and cooperation with the private
72. In this regard, Ministers accepted the SOM Report on APEC Interaction and on Public Outreach and Communications,
reinforcing the importance for APEC of ensuring appropriate community engagement and input in its work, and endorsed the
APEC Communications and Outreach Strategy. In this connection, they welcomed commitments by economies to provide
resources to support APEC-wide work in outreach, as well as to encourage domestic programs that explain APEC's work and
the benefits of open markets. Ministers further instructed relevant APEC fora to identify and invite the participation
of outside groups that can make a contribution to their work. Ministers also directed Senior Officials to make further
progress in examining the possibility of simplifying the management and administration of the guidelines on non-member
participation within the existing policy principles and report the result next year.
73. Ministers endorsed the SOM Chair's report on budget and management issues and approved the contributions from
member economies for 2002 to the APEC Central Fund totaling US$3,338,000 and the 2002 budget totaling US$8,576,395.
74. Ministers further instructed Senior Officials to continue their work in improving efficiency and effective use of
time in all APEC fora, particularly by undertaking further work in the area of reporting requirements and
project-related procedures, as well as clarifying a standard expectation of Secretariat support for APEC fora, and to
report to the next Ministerial meeting on the progress made.
75. Ministers took note and welcomed the report of the Executive Director of the APEC Secretariat, and expressed their
appreciation to Amb. Zhang Yan and the staff of the Secretariat for their devotion and contribution to the APEC process.
Ministers also thanked the Singapore government for its generosity in constructing a new office building for the
Secretariat to be ready in 2002.
Statement by Observers
76. Ministers took note of the statements by ASEAN Secretariat, PECC and PIF.
77. Ministers thanked Mexico for the briefing on preparations for the Fourteenth APEC Ministerial Meeting and the Tenth
APEC Economic Leaders' Meeting in Los Cabos, Mexico. The preliminary list of priority issues embodies, inter alia:
---- Growth policies for the new economy, including appropriate trade and investment, macro-economic, financial and
business facilitation policies;
---- Building capacities to reap the benefits of economic development including the promotion of SMEs and
---- Making APEC a more relevant forum to our people, including fostering greater participation of youth and women,
stepping up our efforts in communicating the benefits of globalization and the improvement of the functioning of APEC.
The overall framework is to implement our shared vision of expanding the benefits of economic growth and development.
78. Ministers noted the 2003 to 2005 Ministerial Meetings will be held in Thailand, Chile and the Republic of Korea