APEC member countries held a virtual meeting in which they agreed to unify efforts to mitigate the effects of Covid-19 and re-boost the economy.
In a joint statement, member countries of the Asia-Pacific Economic Cooperation agreed to work together to mitigate the effects of Covid-19.
The information was released by the Peruvian Minister of Foreign Trade and Tourism, Rocío Barrios, during the First Virtual Meeting of APEC Ministers Responsible for Trade.
In the virtual meeting, the APEC foreign ministers evaluated some initiatives that will be implemented to achieve economic recovery through out the pandemic.
Cooperation and solidarity against Covid-19
During his speech, Rocío Barrio argued that the health and economic crisis that the world is facing requires greater efforts from each of the countries.
She also said that cooperation and solidarity are the best tools to combat the effects of Covid-19.
Another important topic discussed at the meeting was the need to strengthen supply and supply chains.
“I call on the APEC economies to continue to notify the World Trade Organization of the measures related to COVID-19, in order to avoid unnecessary interruptions to global trade,” Barrios said.
Finally, countries also evaluated the use of new technological tools as the beginning of a new era in the global economy.
APEC and member countries
The APEC was founded in November 1989 with the goal of promoting trade and investment liberalization, facilitating business, and promoting economic cooperation among member’s economies.
Currently the member countries are: Australia, Brunei, Canada, Chile, China, Hong Kong, Indonesia, Japan, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, South Korea, Taipei, Thailand, United States and Vietnam.