In a bid to ease the debilitating blow of the pandemic and facilitate strong economic recovery, Asia Pacific leaders have pledged to accelerate equitable access to coronavirus vaccines, promote free and fair trade, and work towards the resumption of cross-border travel.

The leaders of the 21 Asia Pacific Economic Cooperation (APEC) member-economies have firmed up plans for intensified pandemic response and inclusive recovery efforts after recognizing the "devastating impact" of the pandemic on the region's people ad economies during a virtual assembly Friday, July 16.

Among the world leaders present in the online APEC informal retreat were United States President Joe Biden, Russian President Vladimir Putin, Chinese President Xi Jinping, and Philippine President Rodrigo Duterte. The leaders tackled the COVID-19 health and economic crisis and response during the gathering organized by New Zealand Prime Minister Jacinda Ardern.

"Our efforts to diagnose and treat COVID-19 continue to be essential. But we will only overcome this health emergency by accelerating equitable access to safe, effective, quality-assured, and affordable COVID-19 vaccines," the APEC leaders said in a statement after the assembly.

"We recognise the role of extensive immunisation against COVID-19 as a global public good. To that end, we will redouble our efforts to expand vaccine manufacture and supply, support global vaccine sharing efforts, and encourage the voluntary transfer of vaccine production technologies on mutually agreed terms," they said.

The leaders also maintained that the region's health systems must cover all people and remain resilient to cope with present and future shocks.

Concerned APEC ministers have also been directed to ensure the region’s supply chains support the safe and efficient distribution of COVID-19 vaccines and related goods.

To facilitate a strong economic recovery for the region, the APEC leaders have pushed for "free, open, fair, non-discriminatory, transparent and predictable trade and investment environment." Sustaining free trade could help combat the far-reaching impacts of the COVID-19 pandemic, they said.

"We are committed to working together to facilitate the flow of goods and services, especially those that most support our health and economic response at this critical time," they said.

The economic bloc also agreed to "pave the way for the safe resumption of cross-border travel, without undermining efforts to prevent the spread of COVID-19."

As the region moves beyond the health crisis, the APEC leaders have vowed to work towards a strong, balanced, secure, sustainable and inclusive growth. The region's recovery blueprint included advancing innovation and promoting digitalization.

"No one should be left behind" in efforts to ensure all people have the opportunities and resources they need to adapt to change, according to the leaders.

"Noting the historic significance of the fiscal stimulus already provided, we have and will continue to support our economies for as long as necessary," they said. "We will continue to promote seamless connectivity and resilient supply chains for all our businesses and people," they said.

The regional leaders also committed to pursue sound economic policies to sustain jobs, increase economic productivity, and promote innovation. They vowed to support people in adapting to the future of work.

"Recognising some people and businesses will need to move into new sectors, we will work together on a growth-focused structural reform agenda that delivers inclusive, resilient, sustainable, and innovation-friendly outcomes," they said.

"We will harness innovation that enables our people and businesses, particularly MSMEs (micro, small, medium enterprises), to emerge stronger through decent work and increased opportunities," they said.

In moving towards a digital future, the APEC leaders likewise agreed to strengthen digital infrastructure and technologies. They recognized the importance of cooperation on facilitating the flow of data and strengthening consumer and business trust in digital transactions.

"We will support measures designed to foster digital transformation and contribute to bridging the digital divide, including digital literacy and skills," the leaders said.

Based on the APEC website, the region-wide gross domestic product (GCP) contracted by 1.9 percent in 2020, the biggest fall since Second World War. Around 81 million jobs were lost due to the pandemic.

The Asia-Pacific economic bloc is home to 2.9 billion people, representing 60 percent of world GDP and 48 percent of world trade based on 2018 data.