Phl continues to support APEC

MANILA, Philippines - The Philippines continues to support the Asia Pacific Economics Cooperation pact. Trade Secretary Gregory Domingo will participate in the APEC Meeting of the Ministers Responsible for Trade (MRT) in Indonesia to express the country’s continued support for the multilateral trading system and emphasize the importance of small and medium enterprises in the trade bloc.

In a statement, the Department of Trade and Industry (DTI) said Domingo would be accompanied by officials of the Department of Foreign Affairs in the summit that would be held from April 20 to 21 in Surabaya, Indonesia.

With the theme “Resilient Asia-Pacific, Engine of Global Growth,” APEC Trade ministers would exchange views on progress on the World Trade Organization (WTO) Doha Development Agenda (DDA), and attaining the APEC Bogor Goals which are all discussions on the lowering of trade barriers and achieving sustainable growth in the region.

“Trade ministers are expected to express their continued support for the multilateral trading system by sending a strong message to move the negotiations of the DDA forward,” the Trade department said.

Trade ministers would also discuss the progress of APEC’s work to eliminate supply-chain chokepoints in relation to commitments to keep markets open and refrain from raising new barriers to trade in goods and services and investments.

This year, ministers are also expected to pick up work on the APEC Growth Strategy, focusing on equitable growth.

Ministers would also discuss plans to achieve growth that is compatible with global efforts for protection of the environment and transition to green economies.

“The Philippines will continue to lend support to the multilateral trading system through APEC and through active participation in the WTO 9th Ministerial Conference to be held in Indonesia later this year.  Secretary Domingo will raise the centrality of APEC’s support for small and medium entrepreneurs (SMEs) in all the agenda items of the MRT,” said the DTI.

The country is also keen continued compliance with the APEC commitment of 10 percent improvement in supply-chain performance by 2015.

The APEC MRT is an annual gathering of Trade ministers from 21 APEC member economies.

The MRT plays an important role in giving a head start to discussions of APEC initiatives prior to the APEC Ministerial Meeting (AMM) and APEC Economic Leaders’ Meeting (AELM) in October.