APEC leaders pledge to strengthen rules-based multilateral trading system

Leaders of the Asia-Pacific Economic Cooperation (APEC) said in a declaration on Saturday that the 21-member bloc would uphold and further strengthen a rules-based multilateral trading system.

The declaration, made as Thailand handed over the APEC chair to the United States, also said leaders of the group recognized that more intensive efforts are needed to address challenges like rising inflation, food security, climate change, and natural disasters.