APEC Launches Trade Repository to Ease Cross-Border Trade in Asia

The APEC (Asia-Pacific Economic Cooperation) Trade Repository (APECTR) was launched Sunday on the sidelines of the APEC economic leaders' week, currently underway in Manila, Philippines.

MANILA (Sputnik) — APECTR aims to further promote transparency, connectivity and cross-border trade facilitation among the 21 member economies of APEC. It is a single reference point for the small and medium size enterprises to conduct easier cross border trade in the Asia Pacific.

"We address the problem of access to information. Here we provide the information on various areas — rate of tariffs, preferential tariffs, rules of origin, best practices in trade facilitation, other trade measures, trade and customs laws, procedural and documentary requirements," assistant secretary at the Philippines Department of Trade and Industry Ceferino Rodolfo at launching press conference.

The information provided by APECTR helps the businesses in APEC economies learn more about requirements and procedures of different APEC countries.

The Asia-Pacific Economic Cooperation (APEC), established in 1989, promotes free trade throughout the Asia-Pacific region.

The APEC forum includes Russia, the United States, China, Canada, the Philippines, Mexico, Peru, Chile, Australia, New Zealand, Vietnam, Papua New Guinea, Malaysia, South Korea, Japan, Indonesia, Hong Kong, Brunei.