APEC Ministerial Meeting ends, coordination continues with statement on impact of Ukraine invasion

The APEC (Asia-Pacific Economic Cooperation) ministerial meeting in Thailand has come to a close, but there are still conflicting views on how to include the impact of Russia's invasion of Ukraine on the region's economy in the ministerial statement, which continues to be coordinated. Foreign Minister Hayashi and Minister Nishimura of Economy, Trade and Industry from Japan attended the APEC ministerial meeting, where discussions were held on topics such as sustainable growth in the region.

The conference closed on the evening of 17 November, but while Japan and the US argued that the ministerial statement should clearly state that Russia's invasion of Ukraine has affected the economy, with energy and food prices soaring, Russia opposed the inclusion of relevant language and the gap in opinion was not filled. The gap in opinion could not be filled. For this reason, coordination for the adoption of the statement is continuing at the administrative level after the ministerial meeting has closed.

Meanwhile, in an attempt to find a point of agreement, the chairperson, Thailand, called for the creation of a new regional target to balance economic growth and climate change action, which was welcomed by all countries, including Russia. The new targets will encourage countries to support efforts to reduce greenhouse gas emissions and transition to clean, low-carbon energy, and are expected to be discussed at the summit, which will take place from 18 June. After the meeting, Minister of Economy, Trade and Industry Nishimura said, "The adoption of the statement is unpredictable, but I think the international conference is becoming increasingly important, as the response to the corona, the energy crisis and decarbonisation cannot be done by one country alone.

Source: https://www3.nhk.or.jp/news/html/20221118/k10013895541000.html