APEC Leaders To Agree On Sustainable Trade

Asia Pacific Economic Cooperation (APEC) trade ministers agreed on Friday to promote more inclusive and sustainable trade, but failed to produce a joint statement due to Russia and China's objections to language on Ukraine.

Instead, the APEC host, U.S. Trade Representative Katherine Tai, issued a chair's statement summarising the discussions, with an emphasis on inclusiveness, combating climate change, and sustainability.

"We reaffirm our determination to deliver a free, open, fair, non-discriminatory, transparent, inclusive, and predictable trade and investment environment," said the statement.

The group reaffirmed its support for a rules-based multilateral trading system anchored by the World Trade Organisation. "We will continue to work to ensure a level playing field in order to foster a favourable trade and investment environment, and we will reaffirm our commitment to keeping markets open and addressing supply chain disruptions," the statement said.

Last November, APEC leaders in Bangkok approved language that stated that "most members" strongly condemned the war in Ukraine, as well as the resulting human suffering and economic impact.

However, China and Russia objected to including the language at the meeting in Detroit, leaving it to Tai's chair's statement, which noted that there were differing views and that "APEC is not the forum to resolve security issues."

The group reaffirmed its support for a multilateral trading system based on rules and anchored by the World Trade Organisation. "We will continue to work to ensure a level playing field in order to foster a favourable trade and investment environment, and we will reaffirm our commitment to keeping markets open and addressing supply chain disruptions," the statement said.

APEC leaders in Bangkok approved language last November that stated that "most members" strongly condemned the war in Ukraine, as well as the resulting human suffering and economic impact.

However, China and Russia objected to the language being included in the Detroit meeting, leaving it to Tai's chair's statement, which noted that there were differing views and that "APEC is not the forum to resolve security issues."