Apec will go ahead in 2021 but the event will be hosted with digital platforms.
Foreign Affairs Minister Winston Peters attributed the decision to the global disruption caused by Covid-19.
"COVID-19 has seriously impacted how we conduct international diplomacy. That includes hosting Apec. As has occurred with many other international government-to-government events, Apec21 will proceed using virtual digital platforms," Peters said.
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"Given the current global environment, planning to have such a large volume of high-level visitors in New Zealand from late 2020 onwards is impractical.