The Apec (Asia-Pacific Economic Cooperation) Business Advisory Council (ABAC) stressed the call to ramp up the Covid-19 vaccination drives among member-countries as this will allow reopening of the borders.
“This year, we’ve all had to focus on overcoming the challenge of the pandemic. And we have plenty to say about this in the report, particularly about the need to use vaccination to drive the future conditions for border reopening,” ABAC Chairman Rachel Taulelei said during the recent Apec meeting.
Apec member-countries recently renewed their stance against vaccine export restrictions, highlighting the need to boost efforts in securing much-needed Covid-19 jabs.
In addition, they have enhanced trade facilitation for Covid-19 vaccines and other essential goods since June. Some economies even have kept zero to low taxes for vaccines and other medical supplies.
The regional bloc also previously suggested waiving the intellectual property protection for Covid-19 vaccines if this can help accelerate the production and inoculation.
“We are drawn at this point to think even more widely about when our economies are required to begin the much-needed process of economic recovery,” Taulelei said.
As such, the Apec ministers highlighted the need to promote sustainability, agreeing to stop funding fossil fuel subsidies and reinvigorating their commitments to net-zero or carbon neutrality initiatives. In relation to this, the leaders stressed the urgency of shifting to more renewable-energy resources as well.
The Apec members also wanted to further promote an inclusive economy, tackling the concerns over the disadvantaged groups to help them have greater participation in the value chain.
With this, the ministers vowed to continue strengthening information sharing to boost upskilling and re-skilling of the work force. This, in addition to crafting training programs for those seeking job opportunities.
“These are recommendations for our time. They’ve been elaborated under the theme of people, place and prosperity. These three elements…are closely linked and so our recommendations,” she said.