October 2001

On October 20-21, 2001, the Ninth APEC Leaders’ Meeting (summit) was hosted by China in Shanghai. The theme for APEC 2001 was “Meeting New Challenges in the New Century: Achieving Common Prosperity through Participation and Cooperation” with the sub-themes of: (1) sharing the benefits of globalization and the new economy, (2) advancing trade and investment, and (3) promoting sustained economic growth. The war on terrorism and slowing world economic growth, however, dominated discussions. The leaders’ statement on counterterrorism was the first time APEC dealt explicitly with a non-economic issue. APEC leaders also reaffirmed the goal of achieving free trade and investment among APEC members and to provide support for a new round of multilateral trade negotiations under the World Trade Organization. The leaders also issued the Shanghai Accord, in which they committed themselves to broaden APEC’s vision for the future by identifying a conceptual and policy framework to guide APEC in the new century.