04:18 GMT +326 September 2018
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    A woman walks by an APEC logo outside the Lima Convention Centre, during the Asia-Pacific Economic Cooperation (APEC) Summit on November 17, 2016 in Lima

    APEC Leaders Extend Moratorium on Protectionist Measures Until End of 2020

    © AFP 2018 / Rafael ZARAUZ
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    Leaders of 21 Asia-Pacific APEC countries agreed on Sunday to roll back protectionist measures in their economies until the end of 2020.

    LIMA (Sputnik) — Leaders of 21 Asia-Pacific APEC countries agreed on Sunday to roll back protectionist measures in their economies until the end of 2020, in a declaration that wrapped up days of talks in Lima, Peru.

    "We reaffirm our commitment to keep our markets open and to fight against all forms of protectionism by reaffirming our pledge against protectionism through a standstill commitment that we agree to extend until the end of 2020 and to roll back protectionist and trade-distorting measures, which weaken trade and slow down the progress and recovery of the international economy," the final document read.

    Also, APEC leaders reaffirmed their committment to reduce total energy consumption by almost a half by 2035 and to double the share of renewable energy by 2030.

    "We reaffirm our aspirational goals to reduce aggregate energy intensity by 45 percent by 2035 and double renewable energy in the regional energy mix by 2030," the Leaders Declaration reads.

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