BANGKOK, Oct. 20 (UPI) -- Leaders from the 21 economies of the Asia-Pacific Economic Cooperation forum agreed Monday on the need to resume global trade negotiations.
The Kyodo news agency said the agreement was based on achievements made before the collapse of last month's talks in Cancun, Mexico, and to ensure their successful conclusion on time.
"Every leader agreed that WTO members should go back to negotiate the round based upon the (Mexican Foreign Secretary Luis) Derbez's text. If we are to restart the whole process from square one, 14 months will not be enough to conclude the round," Thai Foreign Ministry spokesman Sihasak Phuangketkeow told reporters.
He said the leaders didn't have time during the informal session to go into the details of the negotiations, adding APEC members still maintain their differences over various issues in the WTO negotiations.
Since APEC members together account for nearly half of the world's trade, any statement or position emerging from the APEC forum is bound to influence the global trade body.
