Twenty one member economies of the Asia – Pacific Economic Cooperation (APEC) forum have voiced their support for free trade in the context that global economy is being affected by the US-China trade war.
The APEC ministers responsible for trade meet in Viña del Mar, Chile on May 17 and 18. (Photo: apecchile2019.cl)
Hanoi (VNA) – Twenty one member economies of the Asia – PacificEconomic Cooperation (APEC) forum have voiced their support for free trade inthe context that global economy is being affected by the US-China trade war.
The APEC ministers responsible for trade, who met in Viña del Mar, Chile onMay 17 and 18, affirmed in their joint statement the importance of transparencyand non-discrimination rules agreed upon in the World Trade Organisation (WTO),which can enhance market predictability, enable business confidence and allowtrade to flow.
They said that APEC members should reach consensus on measures to improve theefficiency of operation as well as promote the open and constructive engagementof business community so that the firms can continue support for the multilateraltrade system.
The trade representatives also agreed priority on digital society, sustainablegrowth, and enhancing the participation of women to realise the inclusivegrowth target.
Furthermore, they committed to attaining the Bogor Goals of achieving free andopen trade and investment in the Asia-Pacific through collective and individualefforts. They welcomed the progress that has been made and recognised that morework remains to be done.
APEC gathers21 member economies that make up 40 percent of the global population, 60percent of the global gross domestic product and 50 percent of the world’stotal trade revenue. -VNA
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The APEC ministers responsible for trade meet in Viña del Mar, Chile on May 17 and 18.
