The initiatives, known as the Eda Statement, also include provisions for increased cooperation between member states, capacity building and efforts to combat illegally harvested timber.
Papua New Guinea Prime Minister Peter O'Neill said the country would continue to work with the Asia-Pacific Network for Sustainable Forest Management and Rehabilitation agency to promote trade in sustainable forestry products.
He also said the event was a "trial run" for future APEC meetings which will be held in the lead up to the 2018 leaders' summit. The next two - scheduled for next year - will be the Business Advisory Council and the Transportation Working Group meetings.
"APEC is an important forum for PNG to advance trade, business and investment across a range of sectors that are important to our economy for many years to come and we will continue to expand our engagement in APEC at a policy level while also preparing to host major events," he said.
"I expect PNG will chair and co-chair more APEC committees and forums in the coming years and take a greater leadership role in these regional sectors."