forum signed a joint statement, in which they agreed on tackling the impacts of the COVID-19 pandemic supported by trade.
This is the outcome of the virtual meeting among
Ministers Responsible for Trade, at which they shared the various initiatives and policies implemented by the Asia-Pacific region to combat the pandemic and facilitate the economic recovery.
During her participation, the Peruvian Cabinet member indicated that it is important to consider any action which could restore the population's well-being, including the improvement of health systems and infrastructures, the promotion of investments, and use of trade policies, as well as measures that boost an economic recovery to overcome the crisis created by COVID-19.
Furthermore, she stated that Peru is committed to discussing initiatives which will enable the resumption and facilitation of movement of people, as part of the economic recovery in the region, safeguarding the health and safety of those involved in it.
Measures to facilitate trade
The
Mincetur head stressed that it is important to promote transparency in trade and that if members wish to consolidate the
APEC region as a community, specific measures to facilitate trade among members must be implemented.
She went on to add that APEC could support the Multilateral Trading System by promoting specific initiatives on the matter.
"We share the concerns of many other members in relation to the need for reestablishing a mechanism aimed at solving controversies. We believe that these challenges require a constructive dialogue and coordinated work," Cornejo said.
APEC
Founded in November 1989, the Asia-Pacific Economic Cooperation (APEC) Forum is made up of 21 Asia-Pacific economies.
It seeks to promote trade and investment liberalization, facilitate business, as well as promote economic and technical cooperation in order to achieve prosperity among member economies.
Members are Australia, Brunei Darussalam, Canada, Chile, People's Republic of China, Hong Kong, Indonesia, Japan, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, Philippines, Russia, Singapore, Korea, Chinese Taipei, Thailand, United States and Vietnam. As recalled, Peru joined in 1998 and has presided over APEC twice, 2008 and 2016.
APEC represented 67% of Peru's trade with the world, equivalent to US$49 billion in 2020.
Last year, Peruvian exports to APEC totaled US$26.7 billion (67.7% of the total), while imports from that bloc represented 66.2% of world imports, equivalent to US$22.3 billion.
Among the forum's economies, the main markets for Peruvian exports are China (28.3%), the United States (16.1%), Canada (6.1%), and South Korea (5.8%) —economies with which Peru signed trade agreements.
(END) NDP/VLA/MVB