SAN FRANCISCO, Nov 18 Heads of delegation to the Asia-Pacific Economic Cooperation (APEC) summit reaffirmed the importance of a multilateral trading system based on The World Trade Organization (WTO), says the final declaration of the leaders following the summit.
““We reaffirm the importance of the rules-based multilateral trading system, with the World Trade Organization (WTO) at its core,” reads the text of the document available to .
According to the text of the document, the heads of delegations to APEC emphasized that the WTO continues to be a catalyst for significant growth in the region, while simultaneously emphasizing the importance of reform of the trade organization.
Asia-Pacific Economic Cooperation is a trade and economic forum that includes 21 economies in the Asia-Pacific region. This year's summit took place from November 11 to 17 in San Francisco, California, concluding the US presidency of APEC in 2023.