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In recent years, the Asia-Pacific region has endured a series of devastating natural disasters–including the China Yunnan Earthquake, Typhoon Haiyan, the 2011 Southeast Asia floods, the Great East Japan Earthquake, and the 2010 Chile Earthquake, to name a few. APEC’s 21 member economies account for approximately 58 percent of world GDP, 52 percent of the earth's surface area, and 59 percent of the world's population – yet they experience over 70 percent of the world’s natural disasters. These disasters take a terrible toll in lives lost and damage caused. The economic costs of natural disasters, both at the local and national levels, can be staggering as trade decreases, supply chains are disrupted and critical infrastructure is destroyed. In 2013 alone, the top five major disasters in the region accounted for nearly $100 billion in economic damage and resulted in over 19,000 deaths.
The international community must sustain its commitment to humanitarian response, while at the same time being resilient and quickly addressing the transition from relief to recovery.
To protect businesses, trade, economic growth, and communities from disruptions, President Obama, together with President Xi of China and the other APEC Leaders, agreed to begin developing measures to mitigate, prepare for, respond to, and recover from disasters: