APEC member economies set to achieve Bogor Goals by 2020

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Chinese foreign affairs and commerce officials shared their views on the significant results achieved during the APEC Economic Leaders' meeting.

The Bogor Goals are a set of targeted goals agreed by APEC member economies in 1994 in Bogor, Indonesia, aiming at liberalizing trade and investment among the developed economies by 2010 and developing economies by 2020.

APEC member economies will make further efforts to achieve the Bogor Goals in order to realize trade and investment liberalization and facilitation by 2020, said Wang Xiaolong, Director General of the Department of International Economic Affairs of the Ministry of Foreign Affairs of China at a press conference in Port Moresby, Papua New Guinea on Sunday.

A view from the P&O Pacific Explorer cruise ship, one of three ships chartered to support PNG's historic hosting of APEC Economic Leaders' meeting. /VCG Photo

During this year's APEC Economic Leaders' meeting, broad consensuses were reached among leaders, views being exchanged on trade issues, especially the multilateral trading system, said Wang.

All leaders showed full support of improving and strengthening functions of the WTO while maintaining the core values and basic principles of the organization, Wang added.

He also said China's commitment to maintaining free trade is effective, and its position in supporting economic globalization is consistent. It is evidenced by the country's pledge to host the second Belt and Road Forum for International Cooperation next year.

Wang Xiaolong (L), Director General of the Department of International Economic Affairs of China's Ministry of Foreign Affairs, and Zhang Shaogang, Director General of the International Department of the Ministry of Commerce, during a press conference at the end of the 26th APEC Economic Leaders' meeting in Port Moresby, Papua New Guinea, November 18, 2018. /CGTN Photo

Outcomes on business and trade

Zhang Shaogang, Director General of the International Department of the Ministry of Commerce, talked about what the outcomes of the APEC meeting has on business and trade.

APEC has achieved fruitful results in areas of services, tariff and non-tariff measures, rules of origin as well as small and medium-sized enterprises. The organization has formulated a multi-year cooperation plan and achieve positive results based on FTAAP Beijing Roadmap and Lima Declaration, said Zhang.

Achievements in new fields

Zhang also stressed the achievements made in new fields like digital economy.

New progress has been made in the construction of the Asia-Pacific Model E-Port Network Operational Center (APMEN), such as marine visualization and data mutual recognition, said Zhang.

Meanwhile, the establishment of APEC trade value-added database has laid a solid foundation for global value chain cooperation, Zhang added.