A series of Asia-Pacific Economic Cooperation forum (APEC) meetings commenced in Bali, Indonesia on October 1.
APEC
senior officials are expected to agree on a set of recommendations to
be discussed during the ministers’ meetings on October 4 and 5 on the
threshold of the APEC Summit, scheduled for October 7-8.
Apart from adopting a joint statement, the APEC leaders will issue a
private statement reaffirming their commitments to strengthening the
multilateral trade system and trade expansion to facilitate economic
growth, job creation and sustainable development.
They will also extend by one year (to the end of 2016) the commitment
made in 2008 to refrain from introducing new trade and investment
barriers, according to APEC officials.
A draft document
obtained by Kyodo News said that senior officials will consider how APEC
leaders can voice their strong support to bring some initiatives at the
World Trade Organisation to a successful conclusion ahead of a WTO
ministerial conference to be hosted by Indonesia in December.
Yuri Thamrin, chairman of the APEC senior officials’ meeting and
director general for Asia-Pacific and Africa in Indonesia’s Foreign
Ministry, said in his opening remarks that the initiatives all aim to
ensure that trade in the Asia-Pacific region benefits all sectors of
society.
Indonesia, as host of the APEC meeting, is
also keen to have APEC leaders discuss infrastructure development and
investment in order to improve regional connectivity, he added.
Set
up in 1989, APEC consists of 21 member economies, namely Australia,
Canada, Chile, China, Hong Kong, Japan, the Republic of Korea, Mexico,
New Zealand, Papua New Guinea, Peru, Russia, Taiwan, the United States,
Brunei, Indonesia, Malaysia, the Philippines, Singapore, Thailand and
Vietnam.-VNA