APEC Leaders Pledge to Improve Infrastructure, Supply Chain
Leaders of 21 Asia-Pacific Economic Cooperation countries pledged to improve supply chain performance and guard against new barriers to trade, in their final declaration from the Oct. 5-7 APEC summit in Bali. The heads of state extended their commitment not to raise new trade and investment barriers, and to roll back existing protectionist measures. They also said they would accelerate their work to “achieve a 10% improvement in supply-chain performance by 2015 in terms of time, cost, and uncertainty,” the declaration said.
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As part of their effort to enhance supply chain efficiency, the APEC leaders adopted a “Framework on Connectivity” focused on improving infrastructure in member countries. The plan includes capacity-building and strengthened regional transportation networks, including roads, railroads, ports, and airports, the declaration said. “Addressing impediments to cross-border transport infrastructure development is also a key element of APEC’s work on supply chain connectivity,” it said.
The APEC forum includes Australia, Brunei Darussalam, Canada, Indonesia, Japan, South Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, the U.S., Taiwan, Hong Kong, China, Mexico, Papua New Guinea, Chile, Peru, Russia and Vietnam.