Ministers from member economies of the Asia-Pacific Economic Cooperation, the APEC, and forum started discussions today to prepare proposals on trade liberalization and a new economic growth strategy for leaders to decide at their weekend summit in Yokohama. The ministers will deliberate how to support multilateral free trade frameworks and fight trade protectionism at the two-day meeting held before APEC leaders arrive in the Japanese port city to ponder possible pathways to a Free Trade Area of the Asia- Pacific. Discussions will also include structural reform and the Doha round of global trade talks. Japanese Foreign Minister Seiji Maehara said in his opening remarks that the world is on the path to economic recovery and APEC member economies have contributed to the recovery of the world economy. He said, APEC members need to embrace changes and translate them into actions in order to adapt to new circumstances as the world economy is undergoing structural reform. The five developed economies — the United States, Canada, Japan, Australia and New Zealand — are subject to assessment at the Yokohama APEC summit. Eight developing economies, including South Korea, Singapore and China's Hong Kong, volunteered to participate in the assessment this year.
News On AIR | November 10, 2010 12:41 PM
APEC ministers debate proposals on trade, growth strategy