The heads of the World Trade Organization (WTO) and APEC (Asia-Pacific Economic Cooperation) on Wednesday (27.6.2018) stressed the importance of modernization and collaboration at a trade symposium hosted by the University of Papua New Guinea (northern Australia).
APEC
Noting the mutual benefit that coordinated trade reforms can have in fostering meaningful and inclusive growth, APEC Secretariat Executive Director Alan Bollard said development and implementation challenges require "sustainable cooperation and dialogue," the APEC said. Press release text
"The development of trade policy in the region and its implications for the world can have a significant impact on the direction of growth and employment in the short term and beyond.", Bollard said.
"We want to make sure that there are good rules for international trade and that these are enforced." will be transformed into continuous improvements in the standard of living for people across Asia and the Pacific."
"APEC has the opportunity to lead the way in achieving these goals."
WTO
Roberto Azevedo, Director General of the WTO, said that "The Asia-Pacific region is a dynamic example of how trade initiatives pursued at the regional level can have a significant and positive impact on the multilateral system.".
"This is very positive and groups like APEC can complement the multilateral system and function as a component for global trade," he added.
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