by Martin Haffner, Staff Writer
Leaders from countries and territories within the Asia-Pacific Economic Cooperation (APEC) organization will convene in Lima, Peru, for the 2024 summit and related events, themed “Empower, Include, Grow.”
Today, APEC economy leaders will engage in informal discussions in Lima, with the official summit scheduled for the following day, culminating in a final declaration. The Russian delegation is headed by Deputy Prime Minister Alexey Overchuk.
Chinese President Xi Jinping has already arrived in Lima, where he is anticipated to meet outgoing US President Joe Biden, according to the White House.
Other notable attendees include Australian Prime Minister Anthony Albanese, Vietnamese President Luong Cuong, Indonesian President Prabowo Subianto, Canadian Prime Minister Justin Trudeau, Malaysian Prime Minister Anwar Ibrahim, Chilean President Gabriel Boric, South Korean President Yoon Suk Yeol, Japanese Prime Minister Shigeru Ishiba, and additional leaders.
Summit Agenda
Deputy Prime Minister Alexey Overchuk, leading the Russian delegation, stated that APEC continues to function as a non-political forum for discussing economic matters in the region.
Key topics will include reducing trade barriers, with a focus on the ongoing ambition to establish a free trade zone. Overchuk also highlighted issues such as transportation routes, regional access to electricity, digitalization, and artificial intelligence that are likely to be addressed.
He noted that access to electricity remains a significant challenge in the region and emphasized the importance of discussing renewable energy and the transition to green energy without imposing additional burdens on developing and low-income countries. He stressed that financing this transition should not lead to new financial dependencies for these nations.
Additionally, discussions on new hydrogen energy technologies are anticipated.
“Digitalization will also be a focal point, particularly in terms of business applications and the development of paperless technologies to facilitate the movement of goods, including across borders,” Overchuk commented.
Peru’s Role
Peru’s APEC Senior Official Renato Reyes reported that the country has hosted over 270 APEC events during its presidency in 2024, with around 20 more planned for this week.
This year, the group has already adopted 15 documents, with four additional agreements expected to be finalized during the summit. A joint statement from APEC foreign and economic ministers, along with the leaders’ final declaration, is also set to be approved at the event.