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July 25, 2021
Business News Pacific

Trade Liberalisation Prioritised

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Trade Ministers and Heads of Department at the 24th MRT welcomed Papua New Guinea’s theme of ‘Harnessing Inclusive Opportunities; Embracing the Digital Future’.

The Ministers from the 21 APEC economies have agreed to continue working collaboratively towards the goal of liberalising trade within the region.

All were in agreement to work together to accelerate efforts towards achieving the Bogor goals, the Lima declaration on Free Trade Agreement for Asia-Pacific and to harness the opportunities brought about by the internet and digital economy.

The consensus during the meeting was that the APEC economies must lead the economic growth in the world and the agenda to promote sustainable, innovative and inclusive growth in the region remains a priority, despite growing digital divide, income gap and social inequality.

The ministers agreed that working together, ensures meaningful outcomes for the people, especially as the region is harnessing opportunities brought about by the internet and digital economy.

Representing Papua New Guinea, Minister for Commerce and Industry, Wera Mori, stated in a joint-press conference that though Papua New Guinea is the smallest and least-developed of the APEC economies, the country is working on evolving and adapting to the global shift towards digitalisation.

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