LIMA -- Leaders of APEC economies said on Saturday that they will accelerate discussions with other World Trade Organization (WTO) members with the view to having a fully and well-functioning dispute settlement system accessible to all members by 2024.

They made the remarks in the 2024 APEC Leaders' Machu Picchu Declaration released following the 31st APEC Economic Leaders' Meeting here.

According to the declaration, they also reaffirmed their support for the rules-based multilateral trading system with the WTO at its core, and will remain committed to working toward necessary WTO reform, in order to improve all of its functions.

"We will continue working constructively towards the full implementation of the WTO's 13th Ministerial Conference (MC13) outcomes," it added.