October 21, 2001
Ottawa, Ontario

Prime Minister Jean Chrétien welcomed today the results of the Ninth APEC Economic Leaders' Meeting held in Shanghai, China, on October 20 and 21, 2001. The Prime Minister also noted Canada's commitment of $9 million to an "APEC Economic Integration Program" that will help several developing economies in Southeast Asia to improve their growth prospects by enabling them to participate more fully in the multilateral trading system.

"In Shanghai, the Asia-Pacific community sent a clear and strong message on our collective resolve to counter terrorism", said the Prime Minister. "We are determined to reverse the current economic downturn and maintain public confidence by committing to the launch of a new round in the World Trade Organization (WTO) and by adopting a Shanghai Accord to accelerate trade and investment liberalization and facilitation within APEC."

Highlights of the APEC Economic Leaders' Meeting include:

A Statement on Counter-Terrorism condemning in the strongest terms the attacks on the United States. Leaders consider terrorism in all forms committed wherever, whenever and by whomsoever as a profound threat to the peace, prosperity and security of everyone. Leaders called for specific anti-terrorism action to be taken within APEC and other international fora in a number of areas, including financial measures, international transportation, customs and energy security.

The Leaders' Declaration registers the resolve of APEC Leaders to fight protectionism and launch a new round of multilateral trade negotiations in the WTO. It strengthens the tools within APEC to hold members accountable for implementing their liberalisation undertakings in order to meet APEC's goal of free trade and investment in the region by 2010 for developed economies and 2020 for developing economies.

It also promotes broad-based partnerships, especially among business, governments and the education sector, to enable the education and skills development required for people to thrive in the new knowledge-based economy.

A Shanghai Accord will impart fresh momentum to APEC's trade agenda. It promotes the development of trade policies by member economies to support the new knowledge-based economy. It seeks to reduce the cost of doing business across borders by five per cent. The Accord also encourages Pathfinder Initiatives, which permit sub-groups of APEC members to begin liberalization in new areas.

Canada's commitment of $9 million to help developing economies in Southeast Asia will be provided by the Canadian International Development Agency (CIDA) and will support training and technical assistance in trade policy development, information exchange and research.

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