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APEC trade ministers call for refraining from protectionist measures in trade until 2018

May 19, 2014, 21:11 UTC+3 MOSCOW
The ministers also suggested studying possibilities for using the existing APEC funds for eco goods before the end of 2015
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Alexei Ulyukayev

Alexei Ulyukayev

© ITAR-TASS / Valery Sharifulin

MOSCOW, May 19. /ITAR-TASS/. APEC ministers responsible for trade on Monday agreed to continue refraining from protectionist measures in trade among members of the Asia-Pacific Economic Cooperation Forum (APEC) at a two-day meeting held in Qingdao on May 17-18, 2014. The proposal is contained in a joint declaration adopted by the 21 APEC ministers responsible for trade (MRT), including Russian Minister of Economic Development Alexei Ulyukayev.

The ministers also suggested studying possibilities for using the existing APEC funds for eco goods before the end of 2015.

Promotion of regional economic integration, innovative development, economic reform and ways of achieving economic growth and increasing integrated inter-dependence as well as infrastructure development were part of the agenda of the two-day APEC ministerial meeting. China’s proposal to outline 4 key directions in implementing the idea of forming an Asia-Pacific free trade zone caused a lively debate. Ulyukayev backed up the Chinese initiative. He considers it expedient to set concrete temporary targets. Besides, the Russian minister noted that the study should be exclusively analytical.

Russia supported a project initiated by China and the United States for the creation of the APEC alliance for complementary development of supply chains. Its main task is to reveal and solve problems as part of the APEC action plan to ensure the interconnection of supply chains, interaction of technical experts and define resources needed for effective realization of projects. The action plan is a document, comprising various aspects of international interaction, designed to step up closer and more effective ties among the APEC economies. The document will reflect the achievements of APEC economies and regional problems; formulate approaches to overcoming trade barriers and set concrete quality targets.

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