APEC Ministers Reaffirm Commitment To Bogor Goals

Lima (Antara Bali)- Ministers of the 21 member economies of  Asia-Pacific Economic Cooperation (APEC) have reaffirmed their commitment to achieve the Bogor Goals.

        "We  reaffirm  our  commitment  to  achieve  the  Bogor  Goals  of  free  and  open  trade  and investment  in  order  to  strengthen  and  deepen  regional  economic  integration  through
both collective and individual efforts," Foreign Affairs Minister of Peru Ricardo Luna in his capacity as chairman of the APEC Ministerial Meeting (AMM), said when reading a joint statement here, Saturday.

         The ministers also commended the completion of the 2016 Second-Term  Review  of  APEC's  Progress Towards the Bogor Goals  and  agreed to submit the report to the APEC Leaders.

         In the joint statement issued after the conclusion of the AMM, the members reiterated their willingness to move negotiations forward in the creation of the Free Trade Area in Asia-Pacific (FTAAP).

        "We reaffirm our commitment to advance the process in a comprehensive and systematic manner toward the eventual realization of the FTAAP as a major instrument to further APEC'ss regional economic integration agenda toward and beyond the Bogor Goals," Luna noted.

         Bogor Goals refer to a set of initiatives for realizing free and open trade in the Asia-Pacific agreed by member economies in 1994 in Bogor, Indonesia.

         By  tackling the  complex  challenges  that  the  global  economy  is  facing,  APEC members  remain committed  to   use   all  available   policy   tools - monetary,  fiscal   and   structural
- individually   and   collectively,   to   strengthen   global   demand   and   address   supply constraints.

         They also believe that the benefits of trade and open markets need to be communicated to the   wider   public   more   effectively,   emphasizing   how   trade   promotes   innovation,
employment and higher living standards, and creates opportunities for their citizens that can support inclusive growth
  
"Against  this  backdrop,  we  commend  progress  made  in  2016  in  the  APEC  region  in pursuing  trade  and  investment  liberalization,  business  facilitation  and  economic  and
technical cooperation to boost human development, inclusive growth and prosperity in the region," Luna added.

        The APEC Ministerial Meeting was held on Nov 17 and 18, and followed by the 2016 APEC Economic Leaders' Meeting on Sunday (Nov 20).  
  
Indonesia is being represented by Vice President M Jusuf Kalla in the APEC Summit. (WDY)