OREANDA-NEWS. New Zealand Prime Minister Jacinda Ardern as Chair of the Asia-Pacific Economic Cooperation (APEC) Forum opened the wrap-up meeting of APEC economic leaders on Friday, according to the forum's Facebook page.

"This is the culmination of all the work done in a year, this is the time to adopt our common plan for decades to come," said the head of government of New Zealand before the meeting.

"Now, while we are recovering from the crisis, we have the opportunity to reboot," she said.

The final meeting of leaders of economies, which takes place online, is attended by the heads of state and government of 21 countries and territories that are members of APEC. Russia is represented at the forum by President Vladimir Putin.

At the meeting, a joint declaration will be adopted and a plan for the implementation of the Putrajaya guidelines for the development of APEC until 2040 will be approved.

The two-day annual meeting of APEC economic leaders was held online on Thursday and Friday, chaired by New Zealand. The first day of the meeting was devoted to a business forum with the participation of leaders of economies (APEC member states), heads of large business associations and leading experts of the Aztiat-Pacific region. On the second day of the forum, an informal meeting (retreat) of the leaders of the APEC member states takes place.

The APEC Forum, which first met in 1989, currently includes Australia, Brunei, Vietnam, Indonesia, Canada, China, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, Russia, Singapore, USA, Thailand, Philippines, Chile, South Korea, Japan, and the Chinese territories of Hong Kong and Taiwan. In APEC, it is customary to use the term "economy" instead of the words "country" and "state." In addition to the leaders of the member countries (economies) of the forum, the leaders of large corporations, business communities of the Asia-Pacific region and leading experts on regional and global issues also take part in the annual APEC leadership meetings.

APEC countries are home to 2.9 billion people. APEC members account for 61% of world GDP, 47% of international trade turnover.