APEC meeting calls for efforts to ensure open trade, equitable vaccine access, FTAAP agenda progress

BANGKOK, May 23 (Xinhua) -- Trade officials and representatives from the Asia-Pacific Economic Cooperation (APEC) economies have called for efforts to ensure open trade, equitable COVID-19 vaccine access and work to progress the Free Trade Area of the Asia-Pacific (FTAAP) agenda.

"We reaffirm the importance of the rules-based multilateral trading system, with the WTO (World Trade Organization) at its core," according to a chair's statement issued Monday, a day after the two-day APEC Ministers Responsible for Trade (MRT) meeting concluded in Bangkok.

The meeting, with online or offline participants from APEC economies, was chaired by Jurin Laksanavisit, Deputy Prime Minister and Commerce Minister of Thailand, the host of APEC 2022.

According to the statement of the chair, APEC economies are determined to safeguard a free, fair, open, non-discriminatory, transparent, inclusive and predictable trade and investment environment, as well as continue to work to ensure a level-playing field and support necessary reforms in the WTO to improve the effectiveness of its monitoring, negotiating and dispute settlement functions.

"We support efforts to deliver timely, pragmatic, effective and forward-looking multilateral outcomes at Twelfth WTO Ministerial Conference, promoting the efficient and equitable distribution of safe, effective, quality-assured, and affordable COVID-19 vaccines, therapeutics, diagnostics and other essential medical goods, as well as other areas relevant to trade and health," it said.

They also called for efforts to develop a multi-year work plan to continue dialogue and capacity building programs, with a view to progress the FTAAP agenda, including both traditional and next generation trade and investment issues, according to the statement.

The participants also discussed topics ranging from supply chain resilience, inflation, food and energy security to regional peace and stability.

The chair's statement was issued as "some economies cannot reach agreements on one subject in the joint statement," with the MRT meeting concluded without a joint statement, Jurin told a press conference on Sunday.