01:55 GMT12 August 2020
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    2016 APEC Summit in Peru (38)
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    Trade and economic ministers from the Asia-Pacific Economic Cooperation member states said that open trade policies are essential for sustained recovery and boosting growth.

    LIMA (Sputnik) — Trade and economic ministers from the Asia-Pacific Economic Cooperation (APEC) member economies concluded their meeting in the Peruvian capital of Lima on Friday by issuing a joint statement, reassuring their commitment to promoting free trade across the Asia-Pacific.

    "Faced with rising skepticism over trade and stagnated trade growth, we reiterate our commitment to build an open economy in the Asia-Pacific featuring innovative development, interconnected growth and shared interests. We reaffirm that open trade policies are essential for sustained recovery and boosting growth for coming years," the ministers said in the joint statement.

    They also emphasized the need to develop innovations, create work places and raise living standards.

    The ministerial meeting will be followed by the summit on November 20.

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    2016 APEC Summit in Peru (38)

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