By South China Morning Post | Created at 2024-11-16 22:51:42 | Updated at 2024-11-23 05:29:27
6 days ago
The leaders of 21 member economies of the Asia Pacific Economic Cooperation group called Saturday for enhanced free trade and greater connectivity, even as the 35-year-old organization faces the prospect of an incoming US president deeply skeptical of its aims and many of the multilateral values it espouses.
A statement released at the end of weeklong meetings appeared to reference the November 5 election of Donald Trump indirectly without mentioning him by name, citing the increasingly challenging environment facing global trade and investment.
“Effective multilateral cooperation is even more important in this context,” the group said. “We reaffirm our commitment to ensuring that the Asia-Pacific remains the world’s most dynamic and interconnected region.”
In its 19-point declaration, the group called for concerted action in tackling climate change, food and energy security, World Trade Organisation reform and supply chain efficiency, mirroring goals seen in past years.
Supporters, however, say the strength of the informal organization lies in its 270 annual working group meetings covering many nitty gritty issues that do not necessarily make compelling headlines but streamline trade, from customs facilitation to sustainable finance.
On Saturday, Chinese President Xi Jinping announced that China would host the Apec summit in 2026, according to state-run CCTV, between South Korea’s turn next year and Vietnam’s in 2027.
