The Hong Kong Ministerial Conference of WTO in December will be a critical step in achieving the goal set by the Doha Development Agenda (DDA), said a statement issued by the APEC Economic Leaders on Saturday.

The APEC Economic Leaders' Statement on DDA Negotiations said, significant progress must be made in Hong Kong in resolving still remaining considerable divergence and a clear road map for completion of the Doha Round in 2006 must be established.

The economic leaders of the Asia-Pacific Economic Cooperation ( APEC) agree that there is more at stake here than just another phase of economic liberalization. A successful conclusion of the Doha Round is crucial for the future credibility of the WTO and the rules-based multi-lateral trading system.

The APEC leaders pledge to be ready to provide strong political leadership and the commitment necessary to produce in Hong Kong a sound platform for successfully concluding the negotiations.

The leaders urge all other WTO members, and especially those that have the largest stake in the global trading system and derive the biggest benefits therefrom, to show the flexibilities needed to move the negotiations forward by and beyond Hong Kong.

The APEC economic leaders look forward to a considerable progress on the needs and interest of developing members for the Hong Kong ministerial conference slated between Dec. 13 to 18.

Ministerial Conference is the highest decision-making body of the WTO, which is held at least once every two years.

Source: Xinhua