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The 18th Ministerial Meeting of APEC (Asia-Pacific
Economic Cooperation) opens in Hanoi, Vietnam, today. -Xinhua
Foreign and trade ministers or representatives from the 21 Asia-Pacific
Economic Cooperation (APEC) member economies started their meeting here
Wednesday to work out strategies and plans for the group's future free trade,
human security and system reform.
The 18th APEC Ministerial Meeting was opened on Wednesday morning at Hanoi's
National Convention Center to make preparations for the 14th APEC Economic
Leaders' Meeting slated for Nov. 18-19.
Vietnamese Deputy Prime Minister and Foreign Minister Pham Gia Khiem, who
co-chaired the meeting with Vietnamese Trade Minister Truong Dinh Tuyen, said
that during the two-day meeting, the delegates are to review APEC cooperation
and define new action plans and initiatives, including those on improving
investment and business climate for the common prosperity in the region.
On Wednesday, the delegates will center their discussions on six topics,
including regional trade agreements (RTAs) and free trade areas (FTAs), the
Hanoi Action Plan to implement the Busan Roadmap, and strengthening the
multilateral trade systems as well as the contributions of members to the Doha
negotiations round.
Truong Dinh Tuyen said the Doha talks have temporarily interrupted, so it is
the ministers' responsibility to push for the resumption of the negotiations.
World Trade Organization (WTO) Director-General Pascal Lamy attended
Wednesday's retreat.
Human security and APEC system reform will also be discussed at the meeting.
Since its inception in 1989 in response to the growing interdependence among
Asia-Pacific economies, APEC has become a formidable regional forum acting as
the primary regional vehicle for promoting open trade and practical economic and
technical cooperation in the Asia-Pacific region.
APEC accounts for more than one-third of the world's population, about 60
percent of the world's gross domestic product and about 47 percent of world
trade. It represents the most economically dynamic region in the world.
APEC currently has 21 members: Australia, Brunei, Canada, Chile, China,
China's Hong Kong, Chinese Taipei, Indonesia, Japan, Malaysia, Mexico, New
Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, South
Korea, Thailand, the United States and Vietnam. The chairmanship rotates among
its members, with Vietnam holding the chair this year.