APEC 2019 opportunity to show commitment to multilatelarism: Chilean officials

Xinhua News Agency | Oct 12, 2019 at 4:29 AM

SANTIAGO, Oct. 11 (Xinhua) -- The 2019 Asia-Pacific Economic Cooperation (APEC) forum, to be hosted by Chile, is "an excellent opportunity" for members to show their commitment to multilateralism, said Chilean officials on Friday.

To promote multilateralism, Chile is set to propose pillars in the financial sector, the officials said in a statement during the forum's Finance Week which kicked off on Wednesday.

The pillars include "boosting integration into financial markets through the digital economy, promoting financial inclusion in the digital age, and strengthening the financial management of natural disaster risks," the statement said.

"We reaffirm the value of open international trade that is subject to rules. In times of international (trade) uncertainty, Chile is committed to opening new markets and diversifying its products," Chilean Foreign Minister Teodoro Ribera said.

Chilean Finance Minister Felipe Larrain, Undersecretary of Finance Ministry Francisco Moreno and Mathias Francke, chair of the Senior Officials of APEC, also attended the discussions.

APEC's 21 members represent 40 percent of the world's population and account for 57 percent of global gross domestic product.