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APEC members committed to keep markets open, address supply chain disruptions

"We also reaffirm our commitment to keep markets open and address supply chain disruptions, including by working to support our businesses in building secure, effective, resilient, sustainable, and open supply chains that create a predictable, competitive, and digitally interconnected Asia-Pacific region," according to APEC leaders’ final declaration

SAN FRANCISCO /California/, November 18. /TASS/. APEC (Asia-Pacific Economic Cooperation) members are committed to keep markets open and address supply chain disruptions, according to APEC leaders’ final declaration released following the organization’s summit in San Francisco (California).

"We also reaffirm our commitment to keep markets open and address supply chain disruptions, including by working to support our businesses in building secure, effective, resilient, sustainable, and open supply chains that create a predictable, competitive, and digitally interconnected Asia-Pacific region," the document reads.

APEC leaders also noted their commitment to advance economic integration in the region in a market-driven manner.

"We underscore our commitment to advance economic integration in the region in a manner that is market-driven, including through the work on the Free Trade Area of the Asia-Pacific agenda. To this end, we will enhance our capacity building and technical cooperation efforts in support of economies’ readiness to participate in high quality and comprehensive regional undertakings," the declaration said.

The Asia-Pacific Economic Cooperation comprises 19 countries and 2 territories. These include 12 founding economies: Australia, Brunei, Indonesia, Canada, Malaysia, New Zealand, Singapore, the United States, Thailand, the Philippines, South Korea, and Japan. Other members are China (joined in 1991), Mexico and Papua New Guinea (1993), Chile (1994), Russia, Vietnam and Peru (1998). Two Chinese territories, Hong Kong and Taiwan, joined APEC in 1991.

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