Leaders from the 21 members of Asia-Pacific economic cooperation (APEC) have launched the Santiago Initiative for Expanded Trade in APEC.
The Santiago Declaration says that the Santiago Initiative is to complement the achievement of free and open trade in the region so that all economies can implement and benefit from their work on trade liberalization and facilitation.
The 21 leaders welcomed the APEC Business Advisory Council (ABAC) resolve to expand trade and said they shared its view on the critical importance of trade facilitation.
The leaders also invited ABAC to provide views on emerging trade facilitation issues as well as on the benefits and challenges that arise for business from regional trade arrangements. (CRIENGLISH.com)
