APEC summit participants to extend the moratorium on protectionist measures until 2020

Almaty. November 21. Silkroadnews – Leaders of the APEC states agreed to extend the moratorium on protectionist measures and keep their markets open till 2020, newspaper “Vedomosti” wrote.

According to the declaration adopted at the APEC summit, the participants promise to “roll back current protectionist and trade-distorting measures, which weaken trade and slow down the recovery and progress of the international economy”.

The summit participants also agreed to refrain from manipulating the exchange rates and devaluation. Excessive volatility and disorderly exchange rate fluctuations “may have negative consequences for economic and financial stability”, the declaration states.

The international energy markets should be transparent and stable, the leaders of APEC countries believe. They reaffirmed their commitment to develop energy cooperation, including one in the fields of renewable energy and energy efficiency, and create conditions to boost the growth of trade and investments and economic development, while ensuring access of all the region’s economies to the energy sources.

Summit participants have also called on all the economies to fight corruption, especially bribery of domestic and foreign governments’ officials, with resolve.