Chinese FM Urges Measures to Reactivate Economic Growth

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Last updated at: (Beijing Time) Friday, October 25, 2002

Chinese FM Urges Measures to Reactivate Economic Growth

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Chinese Foreign Minister Tang Jiaxuan, in an address to a ministerial meeting of the Asia-Pacific Economic Cooperation (APEC) forum Thursday, called for measures to reactivate economic growth, promote fair trade and investment and fight terrorism.

Tang said that there have been profound and complicated changes in the world since the 9th APEC leaders meeting was held in Shanghai of China a year ago, and that striving for peace, development and cooperation remains the principal trend of the world today.

But the international community is also faced with a number of new challenges. Global economic development is riddled with uncertainties. Much needs to be done in building a stronger multilateral trading system and rolling back trade protectionism, he said.

Regional wars and turmoil keep cropping up while non-traditional security threats against peace are turning increasingly prominent, he noted.

"Therefore, how to reactivate economic growth, promote free and fair trade and investment and strengthen cooperation against terrorism is a pressing task before us," the foreign minister stressed.

He said that given the challenging situation, inaction will mean retrogression. APEC must keep pace with the times by strengthening cooperation on the basis of the region's diversity and creating a new situation of common prosperity.

The theme of this year's APEC meeting -- "Expanding the Benefits of Cooperation for Economic Growth and Development -- Implementing the Vision" -- reflects the consensus of APEC members as it is designed to implement the results of the successive APEC meetings including the Shanghai meeting last year, Tang explained.

"Firstly, we should work together to promote the new round of WTO negotiations. Secondly, we should vigorously promote economic and technical cooperation and step up capacity building. And thirdly, we should boost a robust development of the new economy,"he said.

In the address, Tang also condemned the latest hostage taking in Moscow by a group of Chechen rebels.

"I would like to condemn the terrorist act of hostage-taking in Moscow. China opposes all forms of terrorism. We have the full confidence that the government of Russia will overcome the challenge," he said.

The Chinese foreign minister was speaking at a ministerial meeting held in Los Cabos in northern Mexico leading up to the 10th annual meeting of leaders of the Asia-Pacific Economic Cooperation (APEC) forum scheduled for October 26-27.

APEC, set up in 1989 in response to the growing interdependence among Asia-Pacific economies and to the need to advance Asia-Pacific economic dynamism and sense of community, now groups Australia, Brunei, Canada, Chile, China, Chinese Hong Kong, Indonesia, Japan, South Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, Philippines, Russia, Singapore, Chinese Taipei, Thailand, the United States and Vietnam.

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