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APEC trade chiefs vow to speed up work in WTO

APEC trade chiefs vow to speed up work in WTO and roll back protectionist measures

APEC trade chiefs vow to speed up work in WTO

MANILA, Philippines (AP) -- Trade ministers from 21 Asia-Pacific countries have issued strong support for the World Trade Organization's efforts to boost global trade amid a flurry of regional free trade agreements.

The ministers vowed Sunday at the end of their two-day meeting on the central Philippine resort island of Boracay to ratify by December a landmark trade facilitation deal and to contribute to a work program to conclude the much-delayed Doha round of trade negotiations.

The ministers said they would rectify trade measures consistent with WTO provisions but which have a significant protectionist effect.

They also said they'd endorse measures bolstering micro enterprises' ability to take part in global trade. Small companies comprise 97 percent of businesses in the Asia-Pacific Economic Cooperation grouping of nations, and contribute significantly to employment and poverty alleviation.


Updated : 2021-09-16 20:00 GMT+08:00