APEC Leaders Joint Declaration "Majority of Member Countries Condemn Ukraine War"

APEC Summit
Photo by AP Yonhap News

[Asia Economy Reporter Kim Hyung-min] The Asia-Pacific Economic Cooperation (APEC) leaders adopted a joint declaration on the 19th condemning Russia's invasion of Ukraine.

The leaders, concluding the 29th APEC Summit held over two days in Bangkok, Thailand, stated in the joint declaration, "The majority of member economies strongly condemn the war in Ukraine, emphasizing that it has caused immense human suffering and further exacerbated vulnerabilities in the global economy."

They pointed out that Russia's invasion of Ukraine has led to issues such as slowed growth, intensified inflation, supply chain disruptions, rising food and energy prices, and increased risks to financial stability.

However, the statement added, "There were differing views regarding the situation of the war in Ukraine and the sanctions imposed."

The leaders said, "While APEC is not a forum for addressing security issues, we recognize that security matters have a significant impact on the global economy." They also reaffirmed their goal to promote sustainable and inclusive growth.

They expressed their consensus to "maintain and further strengthen the rules-based multilateral trading system," welcoming the progress made in discussions on the Free Trade Area of the Asia-Pacific (FTAAP) during this year's meeting.

Additionally, the leaders agreed to strengthen systems to recover the economy after the COVID-19 pandemic and to prepare for future crises.

This content was produced with the assistance of AI translation services.