APEC leaders endorsed the Pittsburgh G20 principles and agreed to implement the policies of the G20 Framework for Strong, Sustainable, and Balanced Growth, further expanding the global commitment to achieve more balanced growth that is less prone to destabilizing booms and busts. Leaders pledged to make growth more inclusive through APEC initiatives that will support development of small and medium enterprises, facilitate worker retraining, and enhance economic opportunity for women.
Regional Economic Integration
The U.S.-led initiatives will engage with current and potential future members of the Trans-Pacific Partnership Free Trade Agreement to shape a broad-based, comprehensive, and high-standard platform to successfully integrate the economies of the Asia-Pacific. APEC leaders announced their commitment to accelerate economic integration and, to that end, endorsed a U.S.-Australia initiative in APEC to promote cross-border services trade in the region.
Facilitating Trade
APEC leaders took steps to facilitate increased trade in the region by simplifying complicated customs procedures and documentation resulting from the region's numerous trade agreements, improving the region's enforcement of intellectual property rights, and speeding the movement of goods across and within borders. They also announced an action plan designed to make it 25 percent cheaper, easier, and faster to conduct business in the region by 2015 by decreasing costs and streamlining processes associated with starting and operating a business in APEC economies.
Supporting the Multilateral Trading System
APEC leaders instructed their trade ministers to work towards a successful conclusion of the Doha Development Agenda in 2010 and reaffirmed their commitment to refrain from raising new barriers to investment or to trade in goods and services.
Climate Change
U.S. President Obama urged all APEC member economies to work together to address the shared challenge of climate change. He and APEC leaders called for collective action by all economies and committed to reaching an ambitious outcome in Copenhagen in December.
Low Carbon and Green Growth
APEC Leaders endorsed the G20 commitment to rationalize and phase out over the medium-term inefficient fossil fuel subsidies that encourage wasteful consumption. Leaders commended APEC efforts to review its members’ energy efficiency policies and to foster regional trade in environmental goods and services, which would spur the growth of “green collar” jobs.
Food Security, Food Safety, and Secure Trade
Leaders instructed their officials to implement programs aimed at improving agricultural productivity and enhancing agricultural markets in the APEC region. Leaders also commended U.S.-led APEC initiatives that bring together public and private sector experts to promote international best practices that will improve regional food and product safety and combat trade in counterfeit medical products. They called for a continuation of APEC's work in areas such as trade and aviation security, counter-terrorism financing, and emergency and disaster preparedness.
Outcomes
The Honolulu Declaration
At APEC 2011 Economic Leaders' Meeting, held on 11 November in Honolulu, Leaders issued the Leaders' Declaration and the APEC Leaders' "Statements on Promoting Effective, Non-Discriminatory, and Market-Drive Innovation Policy; Enhancing Small and Medium Sized Enterprises Participation in Global Production Chains; Trade and Investment in Environmental Goods and Services; and Strengthening Implementation of Good Regulatory Practices".
Media coverage
Over 1,250 reporters and journalists arrived in Hawaii to cover the 2011 APEC Summit.
