Monday, 11 March 2019 09:49

Multilateral Cooperation Needed More Than Ever: APEC Host

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Multilateral Cooperation Needed More Than Ever: APEC Host ANTARA

The Chilean government, as the host of APEC 2019, stressed to APEC economic members that multilateral cooperation is needed now more than ever amid global uncertainty.

This was noted in a written statement issued by the APEC Secretariat and received in Jakarta, Saturday.

Regional and global threats need multilateral responses that APEC can lead, Chile’s Minister of Foreign Affairs Roberto Ampuero stated while addressing a delegation of prominent individuals from the government, business, and academia charged with helping to shape the multilateral forum’s post-2020 vision.

"The challenges that we face, such as stagnant growth, cyberattacks, natural disasters, terrorism, and marine debris, are not nestled within the limits of our borders," Ampuero remarked when the group met in Santiago, Chile, earlier this week.

"As the challenges often involve multiple economies or regions, they require a global and multilateral response," he added.

Ampuero argued that the 21 economies of the Pacific Rim can build on its collaborative successes, such as supporting trade facilitation to advocating for lowering tariffs on environmental goods and leading more efficient travel for businesses in the region, in planning for the future.

APEC’s economic growth and trade trajectory have outpaced the rest of the world since 2008. The region’s forecast of a 3.9 percent growth remains rosier than the outlook for global growth, partly due to strong regional integration.

Ampuero further noted that APEC has been a fundamental pillar of development, and it will continue to be so. This year marks the 30th anniversary of the forum.

Ampuero also described APEC’s goal of free and open trade and investment as "only a means to an end" with "balanced and equitable economic growth" as the end goal.

"To achieve this goal, strengthen fora that encourage collaboration. We should fight against the concerning trends that are countering multilateralism precisely at a time when multilateral cooperation is needed more than ever," he noted. (ANTARA)

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