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Latest News in Peru / Archive
APEC Leaders Commit to Avoiding Trade Barriers for a Year
Vanessa Castro Chesterton
The leaders of the 21 APEC economies are committed in avoiding any measure which might prevent free trade in investments or goods and services. They also voiced their support for developing countries in a statement released today.
In the first joint statement given the member economies formally agreed to give their support to the G-20 Declaration regarding the global financial crisis.
The Leaders also agreed to abstain from putting forth measures that were incompatible with export development.
The measures adopted in the declaration are in response to the wave of protectionism hitting the world at the moment for fear of the effects of the global financial crisis.
Forum Leaders also announced they support the efforts of international financial institutions as well as private banks to insure adequate financing for enterprises.
All 21 members reaffirmed their commitment to conclude Doha Rounds proceedings swiftly so as to improve trade in the Asian-Pacific region and fulfill the Millennium Development Goals.
News source: Andina
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