Phl avows support to Doha Dev't Agenda in APEC Russia Meet

By Nephele Fabiola S. Kirong

Wednesday 30th of May 2012

QUEZON CITY, May 30 (PIA) -- The Philippines will be joining other Asia Pacific Economic Cooperation (APEC) in calling for collective action to conclude the Doha trade negotiations during the APEC’s Ministers Responsible for Trade this June 4 and 5 at Kazan, Russia.

The meeting will discuss the state of play in the Doha Development Agenda at the World Trade Organization.

DTI undersecretary for Industry Development and Trade Policy Adrian S. Cristobal Jr. said the Philippines will contribute practical ideas and approaches, where APEC will play a vital role in advancing the Doha agenda.

Meanwhile, current APEC chair Russia identified trade and investment liberalization and regional economic integration; strengthening food security; establishing reliable food supply chains; and intensive cooperation to foster innovative growth as key priorities.

Russia is said to propose to its partners on focusing on practical issues, which includes bolstering food security, cooperating in the interests of modernization, and improving transport and logistics.

APEC envisions a free and open trade and investment in Asia Pacific by 2010 for industrialized economies, and 2020 for developing economies.

The member-economies of APEC are Australia; Brunei Darussalam; Canada; Chile; China; Hong Kong, China; Indonesia; Japan; Republic of Korea; Malaysia; Mexico; New Zealand; Papua New Guinea; Peru; the Philippines; the Russian Federation; Singapore; Chinese Taipei; Thailand; the United States of America; Vietnam.

These member-states account for approximately 40 percent of the world’s population, 54 percent of world gross domestic product, and about 44 percent of world trade. (NFK-PIA GHQ)