Today: 27/09/2023 19:59:55 (GMT+7)

APEC should work for WTO's better performance: Minister

APEC member economies should prioritise discussing reform of the World Trade Organisation (WTO) to improve its operational efficiency, stated Vietnamese Minister of Industry and Trade Nguyen Hong Dien at the 29th Meeting of APEC Ministers Responsible for Trade (MRT) in Hanoi on May 28.

Dien underlined the need for APEC economies to continue efforts to realise the outcomes of the WTO's 12th Ministerial Conference (MC12) and prepare for the upcoming MC13.

APEC, WTO, better performance, member economies, World Trade Organisation,  operational efficiency, effective measures, global and regional economic integration

An overview of the meeting.

At the opening session of the meeting in Detroit, Michigan, the US, APEC ministers focused on discussing ways to support the rules-based multilateral trading system and effective measures to promote the reform of WTO.

Director-General of the WTO Ngozi Okonjo-Iweala updated the ministers on new developments at the organisation in recent years, especially the implementation of the results of the MC12 and preparation for the MC13.

The WTO leader emphasised the need for WTO members to be flexible and realistic and show political determination in resolving outstanding issues in order to strengthen the WTO's central position in the multilateral trading system. She welcomed APEC's implementation of initiatives and activities that contribute to promoting similar discussions in the WTO.

Okonjo-Iweala and the APEC ministers expressed their hope that reform and progress in WTO negotiations will bring in positive results, contributing to strengthening the role of the multilateral trading system as well as the global and regional economic integration.

On the sidelines of MRT 29, Minister Dien also had a meeting with Japanese Minister of Economy, Trade and Industry Nishimura Yasutoshi, a representative of the APEC Business Advisory Council, and leaders of a number of enterprises, along with other bilateral activities.

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Source: VNA

APEC, WTO, better performance, member economies, World Trade Organisation, operational efficiency, effective measures, global and regional economic integration
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