1. The 2nd Asia-Pacific Economic Cooperation (APEC) Senior Officials’ Meeting (SOM) was held in a virtual format on September 28-29 to discuss ways for regional cooperation in COVID-19 response and take stock of the progress in implementing APEC’s key initiatives on trade and investment liberalization and economic and technology cooperation. Deputy Minister for Economic Affairs of the Ministry of Foreign Affairs Lee Seong-ho attended the meeting as head of the Republic of Korea’s delegation.

o In the meeting, participants shared developments in discussions on APEC’s key initiatives (final report on the Free Trade Area of the Asia-Pacific (FTAAP), etc.) pursued by committees and sub-fora, including the Committee on Trade and Investment (CTI), and presented views on the Post-2020 Vision, the way forward for APEC after the 1994 Bogor Goals to be suggested by the APEC Business Advisory Council (ABAC) and the Pacific Economic Cooperation Council (PECC). In addition, the member Economies, including the ROK, Malaysia, and the People’s Republic of China, proposed ways for APEC to cooperate in responding to COVID-19.

2. In the meeting, the member Economies agreed to complete the final report assessing the progress in achieving the Bogor Goals and approve it at the Concluding Senior Officials' Meeting (CSOM) in November with the goal of adopting it at the APEC Economic Leaders' Meeting and Ministerial Meeting; accelerate the drafting of the APEC Post-2020 Vision with the goal of adopting it at this year’s APEC Economic Leaders' Meeting; and review the member Economies’ proposals on cooperation in COVID-19 response during the inter-sessional period.

o The ROK side said that the final assessment report on the Bogor Goals would serve as an important landmark that can show the accomplishments APEC has attained so far as a regional economic forum.

o The ROK side also stressed that like the Bogor Goals, the Post-2020 Vision should actively and clearly reflect the member Economies’ commitment to cooperation in promoting regional economic growth.

o In addition, amid difficulties in business activities due to border closures resulting from the prolonged COVID-19 situation, the ROK side encouraged the member Economies to share their policies and explore creative ways for facilitating the essential movement of people, including business people.

3. Meanwhile, the member Economies agreed to continue close cooperation with Malaysia, APEC’s chair, to ensure the success of this year’s APEC Economic Leaders' Meeting.

4. The 2nd APEC SOM is seen to have served as an opportunity to maintain the continuity of APEC’s activities and strengthen the momentum of cooperation to overcome the COVID-19 crisis and prepare for the post-COVID-19 era by committing to finalize the Post-2020 Vision, which will become APEC’s long-term goal, within this year and to conduct APEC’s activities smoothly, and reaffirming the member Economies’ commitment to cooperation on COVID-19 response in the Asia-Pacific even amid the prolonged COVID-19 situation.