The APEC Leaders in Kuala Lumpur in November 1998 reaffirmed their confidence in the strong economic fundamentals and prospects for recovery for the economies of the Asia-Pacific. They agreed to pursue a cooperative growth strategy to end the financial crisis. They pledged efforts to strengthen social safety nets, financial systems, trade and investment flows, the scientific and technological base, human resources development, economic infrastructure, and business and commercial links so as to provide the base and set the pace for sustained growth into the 21st century. Leaders also welcomed Ministers¡¯ decision to seek an EVSL agreement with non-APEC members at the World Trade Organisation.

The Leaders adopted the Kuala Lumpur Action Program on Skills Development with the objective to contribute towards sustainable growth and equitable development while reducing economic disparities and improving the social well-being of the people, through skills upgrading/improvement. The action program seeks to encourage greater participation of the private/business sectors in skills development in APEC through public-business ¡®smart partnership¡¯.