Trade, foreign ministers and representatives from the 21 Asia-Pacific Economic Cooperation ( APEC) member economies wrapped up their two-day gathering here Thursday, agreeing to continue the support for WTO negotiations and facilitate trade in the region.
During the meeting, the delegates spent a lot of time on discussing the need to resume the stalled Doha round of the World Trade Organization (WTO) negotiations, and endorsed the Hanoi Action Plan to implement the Busan roadmap for realization of the Bogor goals of free and open trade and investment in the region, Vietnamese Deputy Prime Minister and Foreign Minister Pham Gia Khiem told a press conference after the meeting.
A joint statement issued after the meeting said the delegates reaffirmed their commitment to strengthen the multilateral trading system, and recommended APEC Economic Leaders to issue a stand- alone statement on the Doha Development Agenda reaffirming APEC resolve in resuming the negotiation process without any delay.
The endorsed Hanoi Action Plan will help translate the Busan Roadmap into reality by elaborating concrete actions for APEC member economies to take in five areas including the promotion of high-quality regional trade arrangements and free trade agreements, said the statement.
The meeting also endorsed the trade and investment liberalization and facilitation measures, and discussed enhancing anti-corruption and transparency in the region.
According to the statement, the ministers and representatives also reaffirmed their determination to take actions to enhance human security in the areas of counter-terrorism, health security, emergency preparedness and energy security.
Khiem said the meeting also devoted a lot of time to discussing the reform of APEC to make it more dynamic and efficient.
Documents endorsed by the ministers and representatives will be submitted to the APEC economic leaders for approval during their meeting on Nov. 18-19.
Founded in 1989, APEC is a major regional forum acting as the primary regional vehicle for promoting open trade and practical economic and technical cooperation in the Asia-Pacific region.
It represents the most economically dynamic region in the world, with its 21 member economies accounting for more than one third of the world's population, approximately 60 percent of world GDP, about 47 percent of world trade.