Hosting APEC in 2021 is a unique and timely opportunity for New Zealand to take responsibility for providing regional leadership that can advance and sustain APEC as an institution, including through its development of trade and economic policies that will support the region’s economic recovery from the effects of Covid-19. This article reviews why APEC matters to New Zealand and the international context which will influence New Zealand’s APEC host year. It outlines how New Zealand will approach its virtual hosting of APEC 2021, and the key themes which will inform our priorities.