Ministry of Economic Development of the Russian Federation
Ministry of Economic Development of the Russian Federation
The APEC economy ministers have come to an agreement on the uniform macroeconomic policy in order to overcome the pandemic consequences
17 June 2021 11:00

Deputy economic development minister Vladimir Ilyichev of Russia took part in the meeting of the ministers of the APEC countries responsible for structural reforms. The key topics of the meeting were the steady restoration of economies as well as elaboration of uniform macroeconomic policies and support measures in the context of overcoming the consequences of the COVID-19.

The APEC economy ministers noted that the restoration after the pandemic must be oriented towards the development of a stable economy as well as creating conditions for raising people’s well-being. Vladimir Ilyichev singled out the key measures taken in Russia to support citizens in the conditions of the pandemic which were aimed, above all, at the vulnerable groups of the population and residents of remote areas. "Our priority is the support for the really needy sections of the population who have lost their job and, last but not least, families with children", - stressed the deputy minister.

Within the framework of the issues of the macroeconomic policy the ministers paid special attention to the questions of stimulating the restoration and raising the resilience to future business shocks as well as promotion of innovations and development of skills for raising the productivity and speeding up digital transformation. "Thanks to the measures taken within the framework of the national program ‘Digital Economy of the Russian Federation’ and regulatory innovations we succeeded in quickly reorienting our business towards work in digital mode and adapting employees to flexible employment formats", – declared the head of the Russian delegation.

The partners highly appreciated the scope of regulatory measures adopted in Russia and technological solutions at the national level for raising the economic, social and financial stability of the economy.

The outcome of the meeting was the adoption of the joint statement of the APEC ministers responsible for structural reforms as well as two Annexes – Expanded agenda of the implementation of structural reforms and the Plan of actions in the field of simplification of conditions for conducting business. The sides recorded in these documents the key agreements on the questions of promotion and adaptation of structural reforms to the current and future economic challenges.

"Today is the crucial moment for structural reforms in order to facilitate and form the outlines of restoration and raising of economic stability. At present we pledge ourselves to work together on the new program of structural reforms to support the restoration of the economy after the pandemic and aid the reforms oriented towards economic growth, intended to be inclusive, flexible, steady and favorable for innovations”, - says the statement.

"We call upon the countries to make efforts to introduce advanced regulatory practices in order to ensure effective, efficacious and transparent regulation processes. We call upon them to continue international cooperation in the field of regulation in order to raise the competitiveness of economies, reduce barriers to trans-border trade and investments, further the inseparability and continuity of supply chains, support digital economic growth and confront the challenges of the complex, interconnected and rapidly changing world", - stresses the document.

Дата публикации: June 17, 2021
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