Member countries of the Asia-Pacific Economic Cooperation (APEC) forum are close to reaching a consensus on a joint declaration at the annual summit in South Korea starting Friday, the host country’s foreign minister said on Thursday.

APEC is a non-binding 21-member forum accounting for 50% of global trade and 61% of GDP, and this year’s meeting has been overshadowed by U.S. President Donald Trump’s protectionist policies.

“We are very close,” Minister Cho Hyun said at a joint briefing with Minister for Trade Yeo Han-koo, after chairing a ministerial meeting held ahead of the leaders’ summit.

Cho said negotiations were still taking place on a joint statement even for the ministerial meeting itself, but added that he was hopeful it would be adopted together with a leaders’ declaration wh

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