Leaders of the Asia-Pacific Economic Cooperation (APEC) forum have agreed to work together to expand COVID-19 vaccine production, ensure equitable access to vaccines and facilitate global economic recovery.

The leaders issued a joint statement to this effect after holding a special virtual summit on Friday.

The statement said that the health crisis can be overcome by accelerating equitable access to safe, effective, quality-assured and affordable vaccines. To that end, the leaders pledged to redouble efforts to expand vaccine manufacture and supply, support global sharing efforts and also encourage the voluntary transfer of vaccine production technologies on mutually agreed terms.

The leaders also agreed to accelerate the region's economic recovery by promoting free and fair trade and transparent environments for investment and stressed the need for continued expansionary fiscal policies.

The statement called for advancing innovations to create more quality jobs and pursuing inclusive economic growth and underlined commitment to facilitate the flow of goods and services.

Leaders of APEC member states also agreed to find ways to safely resume cross-border tourism without hampering efforts to contain the virus.

The online session was proposed by this year's chair country New Zealand, which called for talks on pandemic countermeasures ahead of the APEC summit in November. 

Leaders who attended the virtual meeting include U.S. President Joe Biden, Chinese President Xi Jinping, Russian President Vladimir Putin and South Korean Prime Minister Kim Boo-kyum.