Papua New Guinea PM Asks APEC for Greater WTO Participation

November 23, 2018 Share Print 0

Papua New Guinea Prime Minister Peter O’Neill urged Asia-Pacific nations to increase their participation in the World Trade Organisation (WTO) on Friday, five days after a tense regional summit held in the Pacific nation ended in acrimony.

Deep divisions between the United States and China over trade and investment stymied cooperation at the Asia-Pacific Economic Cooperation forum (APEC), leaving the 21 member nations unable to issue a traditional joint communique on shared goals for the first time in the summit’s history.

O’Neill, who also served as APEC chairman, issued a statement in lieu of the joint communique, which acknowledged a “small number” of forum members could not agree on issues including trade polices and how the WTO functioned.

via Reuters

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.