Following the November 12 Group of Twenty (G20) leaders of the fifth summit in Seoul, Korea came to an end after 13 to 14, the Asia Pacific Economic Cooperation (APEC) informal leadership meeting of the Eighteenth in Yokohama, Japan held. A short week, held two of Asia’s most important global and regional conferences, fully shows the rise of Asia has become the global strategy of multilateral trade negotiations with the protagonist.

After the 14th APEC issued a “Declaration of the leaders,” said the APEC will continue to promote regional economic integration process, to practical action to promote the construction of the Asia-Pacific free trade zone. But the declaration did not set a specific timetable. In addition, the declaration also said, APEC will focus on the implementation of this meeting and that the “leaders of the growth strategy”, namely to promote the Asia-Pacific economic balance, inclusive, sustainable, innovative, safe growth.

To take “effective action”

“Leaders Declaration,” said the Asia-Pacific economy is recovering from the international financial crisis, but recovery still faces many uncertainties. Asia-Pacific is the world’s most dynamic economic regions, play an increasingly important role. The APEC will continue to promote regional economic integration process, promoting the Asia-Pacific economy to achieve strong, sustainable and balanced growth, to practical action to promote the construction of the Asia-Pacific free trade zone.

In addition, the meeting also issued the “establishment of the Asia-Pacific free trade zone possible ways,” the outcome document. Chairman of the meeting, Japanese Prime Minister Naoto Kan said that in promoting the Asia-Pacific free trade area in the process, APEC will continue to play an important role, and the 10 ASEAN 3, the 10 ASEAN 6, “Trans-Pacific Strategic Economic Partnership Agreement” and realize ways to go hand in hand There is no question which side dominated.

14 commented that, according to the Associated Press, APEC is the focus of long-term goals, including the establishment of a wide range of regional free trade area, to include large economies such as China and the U.S., but also can accommodate small economies such as Brunei and Hong Kong, China . Asia-Pacific free trade area or will be trans-Pacific Partnership Agreement (TPP) as the basis, the organization now includes Brunei, Chile, New Zealand and Singapore as countries. In addition, the United States, Australia, Malaysia, Vietnam and Peru will join the organization to negotiate.

Review “Bogor Goals”

14 APEC leaders meeting issued the “leader of the review of the Bogor Goals on the political statement” is an important topic of the meeting. In 1994, APEC members gathered in Bogor, Indonesia, and proposed the Asia-Pacific region to achieve free and open trade and investment, “Bogor Goals.” This year is the APEC “Bogor Goals” The first phase of compliance, the United States, Canada, Japan, Australia, New Zealand, five developed members required to undergo assessment, China, Korea, Malaysia, eight members of the development of voluntary early assessment.

“Statement” pointed out that based on the assessment report, although subject to review for the 13 economies in the implementation of the “Bogor Goals” has made significant progress, but the future remains to be done. To encourage member economies to achieve trade and investment liberalization and to make sustained and concerted efforts, APEC economies will continue to assess the work done and progress.

Improve the quality of economic growth

APEC leaders meeting also issued the “leaders of the growth strategy,” and the first time will work to promote within the Asia Pacific region and its neighboring economies to achieve a balance between, inclusive, sustainable, innovation, economic growth and security. Economies to be for women, poor people and other disadvantaged groups with better credit and social services. At the same time, countries will also promote energy security, reduce carbon emissions to control global warming.

In addition, exchange rate issues, APEC meeting only a small amount of interpretation of the statement, which reiterated that “continue to promote more market-determined exchange rate” and “avoid competitive devaluations,” In addition, the advanced economies need to help emerging economies slow due to excess liquidity and the risks of capital inflows. APEC leaders also welcomed the results of G20 summit in Seoul, will continue to promote the building of more powerful, flexible global financial system, oppose trade protectionism. The leaders pledged to strengthen economic and technical cooperation, continue to steadily promote the reform of APEC mechanism.

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