APEC Ministerial Meeting opens in Papua New Guinea
On the morning of November 15, the Asia-Pacific Economic Cooperation (APEC) Forum Ministerial Meeting opened in Papua New Guinea.
The conference discussed the issue of countries incurring debt after receiving loans for infrastructure construction.
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| APEC Senior Officials' Meeting. Photo: BNG. |
Officials from the 21 APEC member economies are likely to consider new guidelines for supporting infrastructure projects funded by loans. Delegates will also examine the ability of recipient countries to repay loans. Some countries are now saddled with large debts after receiving Chinese investment under the Belt and Road Initiative.
APEC ministers also plan to discuss reform of the World Trade Organization. One of the proposals is to tighten rules on government subsidies because they give an advantage to some domestic industries and cause unfair competition./.
