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APEC leaders issue joint declaration on economic growth
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Leaders of the Asia-Pacific Economic Cooperation (APEC) members adopte a joint declaration here on Tuesday that aims to shore up economic development in the region.
Under the theme of "Resilient Asia-Pacific, Engine of Global Growth", the 21st APEC summit agreed that a strong multilateral trading system is a key driver for economic growth, job creation and sustainable development.
The leaders agreed to fight against protectionist and trade- distorting measures for their impact on weakening trade and slowing down the global economic recovery while recognizing the Doha round of multilateral trade talks is at an impasse.
Regarding the 9th Ministerial Conference (MC9) of the WTO to be held in Bali in December, the leaders acknowledged the urgency to achieve successful outcomes at MC9 which would be a stepping stone to future progress in the Doha Development Agenda (DDA) negotiations post-Bali and further multilateral trade liberalization.
"We reaffirm our commitment to build on the Bali Package to achieve the full conclusion of the DDA and to continue the negotiations to address the remaining DDA issues post-Bali and continue to respect the Doha mandate and its development dimension, " said the declaration.
The leaders envisioned that the Bali outcomes will encompass an agreement on trade facilitation, some elements of agriculture, and development.
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