As most countries are now experiencing economic downturns, opening the global market through free trade may save the world from challenges and future economic shocks.

Trade and Industry Secretary Alfredo Pascual, during the recently concluded 33rd APEC Summit in Bangkok, Thailand, highlighted the need to improve cooperation among nations to achieve strong recovery and promote sustainable trade and development.

Pascual, in a meeting with trade and foreign ministers from the Asia-Pacific region last 17 November, underlined the need for an open market to ease the flow of trade and investment under a functioning rules-based trading system.

"Respect and observing the rules-based trading system is a prerequisite to a conducive open market and a crucial element in promoting trade and sustainable development," he said.

Also, he called on ministers to observe the decisions and agreements made at the 12th World Trade Organization Ministerial Meeting held last June 2022 in Geneva, Switzerland, while expressing the Philippines' commitment to implement the Fisheries Subsidies Agreement and its active engagement in the agriculture negotiations, and the Trade-Related Aspects of Intellectual Property Rights Council waiver, among others.

Likewise, as a contribution to APEC's aim to build a resilient supply chain, Pascual stressed that the Philippines leads the initiatives to allow safe maritime passage.

Seafarers are key actors in the supply chains and are responsible for the delivery of essential goods and products.

The DTI chief urged economies to implement "sound government policies and cooperative measures" that will provide for the health and safety of essential workers.

At the Philippine-led Policy Roundtable on the Safe Passage of APEC Maritime Crew, APEC members adopted a set of recommendations to ensure their protection.