• Today, Sunday 23, the Final Declaration issued by all 21 APEC Member Economies Leaders was announced.
• The topic of the global financial crisis is being dealt with on a separate document

After over than a hundred meetings during the year, which brought together various working groups composed by Senior Officials, Ministers from different portfolios business people from the APEC Business Advisory Council (ABAC), the outcome of the final week has been the Lima Declaration. This Declaration has been issued by all 21 Economic Leaders or their representatives after the meeting held on November 22-23 at the Ministry of Defense Convention Center (MoD).

The Lima Declaration focuses on the theme that has guided this year´s meeting: "A new commitment for the Asia-Pacific development". The clear goal is to reduce the gap between developed and developing Member Economies. "We are committed to strengthen social dimension of globalization and ensure that all members and sectors of our economies can access skills and opportunities to participate and benefit from trade as well as regional and global investment," reads the statement.

The document is divided into themes that were part of previous discussions. First, regional economic challenges, that include progress related to the Regional Economic Integration Agenda, which aims to smooth the way towards a potential Free Trade Area in the Asia-Pacific Region. Likewise, Leaders reaffirm commitment to accomplish the Bogor Goals and recognize Member Economies’ efforts to fulfill these goals.

Another challenge is the Regional Economic Structural Reform, whose implementation agenda, or LAISR, is being achieved since its creation in 2007. It also mentions the issue of Enhancing Food Security in the Asia-Pacific, which proposes to work jointly with United Nations to monitor volatility effects of food prices.

Regarding the social dimension of globalization, the importance of Corporate Social Responsibility (CSR), theme proposed by Peru during this year’s meetings is emphasized. The Lima Declaration proposes the promotion of CSR to ensure transparent and accountable business in the region.

Likewise, the document also highlights the need to fight corruption, which has become a serious threat to regional social and economic development. It also emphasizes the strengthening of cooperation and capacity-building in APEC, which is related to one of the pillars of the Forum: Economic and Technical Cooperation (ECOTECH).
On the other hand, the topic of Human Security looks forward to improve different aspects in the region, such as the war against terrorism to ensure security in regional trade. Similarly, an action plan to reduce risks and be prepared for natural disasters, which requires close cooperation between the private sector, government agencies and international organizations.

Regarding the topic of Climate Change, Energy Security and Clean Development, first raised at the 2007 meeting in Sydney, APEC Leaders stated that this issue must be handled under the guidelines of United Nations Convention on Climate Change . The Declaration recognizes that climate changes already have consequences in management of economic development in the region, and further urges continuing with the agenda proposed in Sydney on this topic.

Finally, the Declaration states the need to strengthen APEC Forum as an institution. Leaders have received proposals from Ministers to fix a period for the Executive Director of the Forum’s Secretariat and establish a Policy Support Unit. In addition, they have completely approved the Declaration of Foreign Affairs and Trade Ministers during their 20th Joint Ministerial Meeting, and welcome Singapore as new venue for APEC 2009 meetings.