Trade ministers from 21 member economies of the Asia Pacific Economic Cooperation (APEC) forum commenced their meeting in the central Philippine province of Aklan on May 23.
During the two-day event, they sought consensus on the details for realising the initiative on a Free Trade Area of the Asia-Pacific (FTAAP), which is expected to be announced in late 2016.
Their discussions also focus on promoting service trade, fighting protectionist movement in world trade, and development of infrastructure facilities in the region.
Established in 1989, APEC groups Australia, Brunei, Canada, Chile, China, Hong Kong (China), Indonesia, Japan, the Republic of Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, Philippines, Russia, Singapore, Taiwan (China), Thailand, the US, and Vietnam.-VNA
During the two-day event, they sought consensus on the details for realising the initiative on a Free Trade Area of the Asia-Pacific (FTAAP), which is expected to be announced in late 2016.
Their discussions also focus on promoting service trade, fighting protectionist movement in world trade, and development of infrastructure facilities in the region.
Established in 1989, APEC groups Australia, Brunei, Canada, Chile, China, Hong Kong (China), Indonesia, Japan, the Republic of Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, Philippines, Russia, Singapore, Taiwan (China), Thailand, the US, and Vietnam.-VNA
