Ministers of Trade of members of Asia-Pacific Economic Cooperation (APEC) have just stated their vigorous support to the process of resuming Doha Round of World Trade Organization (WTO).

According to the Joint Communiqué dated July 6th after two-day session in Cairns City (Australia), Ministers of Trade of APEC members stated to support the process of resuming Doha Round “aimed at an open WTO operating based on touch regulations and multilateral trade mechanism in order to guarantee global development and economic growth.”

However, “it is not likely to exclude the perfect Plan B of building up a Trade Area containing 21 APEC members if Doha Round can not lead to an unanimous agreement,” these countries also told.

Negotiations in the framework of Doha Round got stuck in last July because rich countries could not find common idea about cutting agricultural subsidies. According to World Bank’s estimation, the subsidies above value at 96 billion USD each year.

APEC members thought it is necessary to increase pressure on the US and EU to force them sign in the Trade Agreement on Agricultural Products. The US need more acceptable solutions to its agricultural subsidies and EU should open more widely its market for agricultural products.

Total value of exchanged goods in Asia-Pacific Free Trade Area (AFTA) makes up ½ the total value of global trade.

APEC contains 21 members, including Australia, Brunei, Canada, Chile, China, Hong Kong, Indonesia, Japan, South Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, Philippines, Russia, Singapore, Taiwan, Thailand, the US, and Vietnam.