Clear mandate needed to undertake WTO reform, Gan urges

APEC economies must urge MC12 in a systematic manner.

Asia-Pacific Economic Cooperation markets (APEC) must push for the clear mandate to undergo the World Trade Organisation (WTO) reform in a structured and systematic manner, Minister for Trade and Industry Gan Kim Yong said.

During the APEC Ministers Responsible for Trade (MRT) Meeting in Thailand, Gan said APEC can play a constructive role to support WTO discussions, especially in the “upcoming 12 WTO Ministerial Conference in June to make sure a more resilient multilateral trading system and prepare WTO to deal with future crises.”

APEC can also raise the growth of digital trade and digital economy for a stronger post pandemic economic recovery.

Also, at the meeting, Gan said there are three ways that APEC can create inclusive and sustainable growth to foster a more resilient Asia Pacific region.

These three ways include intensifying efforts to restore connectivity—people to people connectivity, playing a more significant role to foster a coherent and concerted response to support our people and businesses in riding the digital wave, and enhancing efforts in areas like climate crisis.

The meeting, hosted by Thailand was from 21 to 22 May 2022, was graced by ministers and senior officials from the 21 APEC economies.