APEC Leaders Express Concern Over Global Trade Disputes

In a joint statement released on Friday, the Asia-Pacific Economic Cooperation (APEC) members highlighted their growing concern over the current disputes in global trade, particularly focusing on the tariffs imposed by the United States.

Call for Greater Cooperation and Support for WTO

The leaders emphasized the importance of cooperation and the need to strengthen world trade mechanisms, including the World Trade Organisation (WTO). "We are concerned with the fundamental challenges faced by the global trading system," they stated, reaffirming their commitment to APEC's role in addressing regional economic challenges.

South Korea Highlights the Significance of APEC Unity

South Korean Minister of Trade, Cheong In-kyo, remarked on the challenges of reaching an agreement due to initial negotiation differences. However, he noted that this unity among APEC members sends a positive signal to the global market about overcoming current uncertainties together.