Santiago, 21 November (IANS). Chilean President Sebastian Pinera has called on the Asia-Pacific Economic Cooperation (APEC) economies to work closely with and continue to collaborate with international organizations, the private sector and civil society.
According to the news agency Xinhua, during his speech at the 27th APEC Economic Leaders meeting headed by Malaysia, Pinera on Friday highlighted the importance of jointly fighting the Kovid-19 epidemic.
The Chilean leader underscored the importance of the multilateral trade system, reaffirming his country’s commitment to the necessary reforms of the World Trade Organization.
Calling for the creation of a true free trade zone in the Shia-Pacific region, he said, there should be no place for protectionist policies in APEC. There should be no place for trade wars.
APEC has become a dynamic engine of economic development and is one of the most important regional forums in the Asia-Pacific.
According to APEC’s official website, its 21-member economies are home to around 2.9 billion people and represented about 60 percent of world GDP and 48 percent of world trade in 2018.