APEC ministers divided over multilateral free trade

November 9, 2017

DA NANG, VIETNAM- Ministers of the Asia-Pacific Economic Cooperation forum member economies failed to issue a statement after their meeting on Wednesday apparently due to differences over multilateral free trade and trade protectionism.

The APEC ministers, meeting in Da Nang, central Vietnam, are expected to resume their discussion Thursday morning to release a statement to wrap up the meeting, sources familiar with the situation said.

Wednesday's talks focused on ways to promote multilateral free trade at a time when U.S. President Donald Trump is prioritizing bilateral trade relations.

Vietnamese Industry and Trade Minister Tran Tuan Anh, who cochairs the meeting, sought to bridge gaps to come out with a meaningful package for regional economic integration.

The ministers also discussed ways to prevent protectionist trade policy measures that would negatively affect the global economy.

While the United States has suggested it will not hesitate to launch unilateral sanctions, Japanese trade minister Hiroshige Seko called on APEC partners to show their resolve to promote free trade.

Japanese Foreign Minister Taro Kono said sustainable growth through free and open trade and investment is essential to the prosperity and stability of the Asia-Pacific region. Jiji Press