Sat, 28 Nov 2020

Peru supports multilateral global trading system

Xinhua
21 Nov 2020, 12:44 GMT+10

LIMA, Nov. 20 (Xinhua) -- Peruvian Interim President Francisco Sagasti said Friday that Peru supports a multilateral global trading system involving free trade during his speech at the 27th Economic Leaders' Meeting of the Asia-Pacific Economic Cooperation (APEC).

While addressing the leaders of the 21 economies of the forum, the president stressed the need to promote free trade under the rules of the World Trade Organization and move towards the establishment of a high-quality Asia-Pacific Free Trade Area.

The Peruvian leader also proposed universal, timely and balanced access to treatments and vaccines against COVID-19 at the virtual conference.

He also underscored the necessity of promoting structural economic reforms to benefit all economic agents, in order to facilitate access to credit, technology and training.

Sagasti, who took office on Nov. 17, participated for the first time in the meeting of leaders on behalf of Peru, which has been a full member of APEC since 1998.

APEC has become a dynamic engine of economic growth and one of the most important regional forums in the Asia-Pacific. Its 21 member economies are home to around 2.9 billion people and represented approximately 60 percent of world GDP and 48 percent of world trade in 2018, according to APEC's official website.

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