Senior officials from 21 member economies of the Asia-Pacific Economic Cooperation (APEC) forum have reached a consensus on how to boost economic growth at a two-day meeting behind closed doors in Singapore.
At the meeting, which ended on Nov. 9, senior APEC officials focused their discussions on the global financial crisis, trade protectionism, multilateral trade mechanisms and regional economic integration.
The officials were unanimous on how to promote comprehensive, sustainable and balanced growth, accelerate regional economic integration, oppose all forms of trade protectionism and support an early conclusion of the Doha round of world trade negotiations.
The meeting endorsed a report to be submitted to the APEC ministers’ meeting scheduled for Nov. 10-12.
One of the main aims of the meeting was to prepare an agenda and the necessary documentation for subsequent ministerial and leaders meetings.
The meeting between APEC’s leaders is due to take place on Nov. 14-15, where the participants will discuss the global economic downturn, opportunities for the world’s economies, ways of hastening economic recovery, countering protectionism and combating climate change.
The 21 APEC economies are home to more than 2.7 billion people and account for approximately 54 percent of global GDP and 44 percent of world trade.