APEC Ministerial Statement for the First Time in Three Years "Free and Fair Trade and Investment Environment Is Important" November 17, 8:24
A ministerial meeting of the APEC-Asia-Pacific Economic Cooperation Council was held, and a ministerial statement was put together stating that a free and fair trade and investment environment is important for recovery from the severe economic situation caused by the effects of the new coronavirus.
APEC is a framework for economic cooperation involving 21 countries and regions in the Asia-Pacific region, and a ministerial meeting was held on the night of the 16th of Japan time.
In a ministerial statement, the WTO (World Trade Organization), which sets rules for international trade, states that a free and fair trade and investment environment is important for recovery from the severe economic situation caused by the effects of the new coronavirus. It includes support for the necessary reforms of the institution.
At the last APEC, which was held quietly, coordination with the United States was difficult due to the wording over free trade, and it was an unusual situation where a ministerial statement could not be issued.
It is the first time in three years that a ministerial statement has been compiled.
In this statement, paying attention to the demands of the business community for supporting a multilateral trading system, it seems that the United States has gained the understanding of the United States, which emphasizes bilateral trade agreements, by keeping it in a restraining manner. I will.
APEC will hold a summit meeting on the 20th of this month, focusing on whether it can agree on long-term goals such as promoting free and open trade and investment and strengthening the functions of the WTO, which are scheduled to be newly formulated. It becomes.