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.
Source: VNA
The
APEC ministers responsible for trade, who met in Viña del Mar, Chile on May
17th and 18th, affirmed in their joint statement the importance of transparency
and non-discrimination rules agreed upon in the World Trade Organisation (WTO),
which can enhance market predictability, enable business confidence and allow
trade to flow.
They said that APEC
members should reach consensus on measures to improve the efficiency of
operation as well as promote the open and constructive engagement of business
community so that the firms can continue support for the multilateral trade
system.
The
trade representatives also agreed priority on digital society, sustainable
growth, and enhancing the participation of women to realise the inclusive
growth target.
Furthermore,
they committed to attaining the Bogor Goals of achieving free and open trade
and investment in the Asia-Pacific through collective and individual efforts.
They welcomed the progress that has been made and recognised that more work
remains to be done.
APEC
gathers 21 member economies that make up 40 percent of the global population,
60 percent of the global gross domestic product and 50 percent of the world’s
total trade revenue./.
Souce: CPV
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