"We have agreed to extend our commitment till 2016 and reaffirmed our efforts to alleviate protectionism and trade limitations," said Indonesian President Susilo Bambang Yudhoyono, while announcing the results of the APEC 2013 Summit.Nusa Dua, Bali (ANTARA News) - Leaders of the Asia-Pacific Economic Cooperation (APEC) forum expressed their commitment to fighting protectionism, which hinders the world`s economic trade and growth.
"We have agreed to extend our commitment till 2016 and reaffirmed our efforts to alleviate protectionism and trade limitations," said Indonesian President Susilo Bambang Yudhoyono, while announcing the results of the APEC 2013 Summit on Tuesday.
Twenty-one economic leaders of the APEC region also expressed their determination to not limit trade with domestically oriented policies.
"With the commitment, we have reiterated the importance of hampering protectionist measures through the World Trade Organisation (WTO) mechanism and other international organisations," he said.
Director General of WTO Roberto Azevedo, who came as an invitee to the summit, earlier encouraged the 21 APEC economic leaders to adopt a multilateral trade system.
"APEC consists of countries that are big economic players and traders. I believe they have always actively supported a multilateral trade system," he said, after attending a panel session with APEC ministers on Saturday.
Indonesia has also been encouraging an increase in multilateral service trade in the Asia-Pacific region and the development of APEC connectivity to support connectivity in ASEAN and Indonesia.
APEC is an economic cooperation forum involving 21 economies in the Asia-Pacific region aimed at promoting free trade and economic cooperation in the region.
The forum was established in 1989 and the summit in Bali is the second hosted by Indonesia after the event in Bogor, West Java, in 1994.(*)
Editor: Heru Purwanto
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