APEC members to steer from trade barriers
Posted on: Thursday, 20 November 2008, 10:33 CST
Trade ministers at the Asia-Pacific Economic Cooperation meeting in Peru have agreed to steer away from new trade barriers, a final draft agreement said.
The statement given to delegates at the APEC meeting in Lima, Peru, said the organization recommended strong support of the Group of 20 Washington Declaration. Members also affirmed the commitment to refrain from raising new barriers to trade and investment,
Kyodo News reported Thursday.
We will stand firm against any protectionist sentiment arising out of this crisis,
the statement said.
APEC members include Australia, Chile, China, Japan, Peru and the United States.
In backing up the agreements made at the economic summit in Washington last Saturday, Toshihiro Nikai, Japanese economy, trade and industry minister, said global cooperation was significant.
''If this number of countries gather, it is often true that matters of concern become scattered. But today it was very striking for me that we were so united," Nikai said.
Delegates at the conference, representing 60 percent of the world's gross domestic product, discussed food and security issues, as well as increased transparency in commodity futures markets, Kyodo News said.
Source: United Press International
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