19/05/2014 14:30 GMT+7 Email Print Like 0

APEC agree to create road map for regional free trade area

Beijing, May 19 (VNA) – The 20th Ministers Responsible for Trade Meeting (MRT-20) ended in Qingdao, China, on May 18 with the issuance of a statement agreeing to create a road map for the realisation of a regional free trade area.

The statement also expressed support of the multilateral trade negotiation process.

At a press conference after the two-day meeting, Chinese Trade Minister Gao Hucheng said ministers also agreed to build an information sharing mechanism on free trade agreements as well as develop a plan to connect all APEC member economies while backing the expansion of financial cooperation and infrastructure development investment.

At the meeting, the Vietnamese delegation led by Trade Minister Vu Huy Hoang proposed measures to promote regional free trade while holding bilateral activities to strengthen the relationship between Vietnam and other APEC member economies.

On the meeting’s sidelines, Minister Hoang had bilateral contacts with delegates from China, the US, the Republic of Korea and Russia to discuss trade and investment cooperation in both multilateral and bilateral frameworks with the respective countries.

The minister also took the occasion to touch upon issues relating to the current situation in the East Sea and reiterate Vietnam’s points of view.

According to the minister, many delegations expressed their concern and wished that the tension in the East Sea should be solved by peaceful measures, with respect for international law and the Declaration on the Conduct of Parties in the East Sea (DOC).