Lima, Nov 17 (Agency) The countries of the Asia-Pacific Economic Cooperation (APEC) on Saturday confirmed seeking a reform of the World Trade Organization (WTO) to improve the inclusivity and fairness of its operation, the summit declaration said. “We recognize the importance and will continue to work to ensure a free, open, fair, non-discriminatory, transparent, inclusive and predictable trading and investment environment.
We reaffirm our support for a rules-based multilateral trading system, with the WTO at its core, and remain committed to working on the necessary WTO reform to improve all its functions,” the declaration read. The APEC member countries have also confirmed their support for the early entry into force of the WTO agreement on subsidies in the field of fisheries and the finalization of negotiations on additional rules, the declaration said. The signatories have reiterated their commitment to promoting economic integration in the Asia-Pacific region and support regional trade, the declaration added. The APEC Summit is taking place in Peru’s capital city of Lima from November 15-16.