Santiago, Nov 21 (IANS): Chilean President Sebastian Pinera has called on the Asia-Pacific Economic Cooperation (APEC) economies to continue to cooperate and work closely with international organisations, the private sector and civil society.

During his speech at the virtual 27th APEC Economic Leaders' Meeting chaired by Malaysia, Pinera on Friday highlighted the importance of jointly fighting the Covid-19 pandemic, Xinhua news agency.

The Chilean leader underscored the importance of a multilateral trading system, reaffirming his country's commitment to carrying out necessary reforms of the World Trade Organization.

"In APEC there should be no space for protectionist policies. There should be no space for trade wars," he said, while calling for the creation of a true free trade area in the Asia-Pacific region.

APEC has become a dynamic engine of economic growth and one of the most important regional forums in the Asia-Pacific.

Its 21 member economies are home to around 2.9 billion people and represent approximately 60 per cent of world GDP and 48 per cent of world trade in 2018, according to the official website of APEC.