Asia-Pacific Economic Cooperation (APEC) member countries have expressed concern over the slower pace of implementing the Trade Facilitation Agreement of the World Trade Organization.
A declaration, which was adopted after the APEC summit in Beijing, reaffirms the member countries' serious concern over this deadlock in the implementation of the WTO Trade Facilitation Agreement, a circumstance which calls into question the possibility of implementing the Bali agreements. Such a situation undermines trusts toward the WTO as a negotiating platform, the declaration says.
The APEC leaders declared that this organization would play a leading role in looking together with all members of the WTO for possible ways out of this deadlock in order to put the Bali agreements into practice.
The document confirms the leadership of the multilateral trade system in further promoting trade, creating new jobs, as well as supporting economic growth and sustainable development.
The APEC leaders also reiterated their commitment to bolstering the open and comprehensive multilateral trade system, which abides by certain rules, is transparent and offers a level playing field for all countries in accordance with WTO standards, the declaration says.
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