Hu outlines China's ideas on improving APEC process

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Last updated at: (Beijing Time) Tuesday, October 21, 2003

Hu outlines China's ideas on improving APEC process

Chinese President Hu Jintao made a three-point proposal Monday in Bangkok on improving the Asia-Pacific Economic Cooperation (APEC) process. He proposed that APEC member economies consider three points for the development of the 21-member forum.

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Chinese President Hu Jintao made a three-point proposal Monday in Bangkok on improving the Asia-Pacific Economic Cooperation (APEC) process.

"Along with the changes in the regional and international situation, people are thinking more and more about APEC's own future," Hu said in a speech delivered at the first-day session of the 11th APEC Economic Leaders' Meeting.

"China has all along committed itself to Asia-Pacific economic cooperation and actively participated in APEC activities. The new Chinese government will, as always, support and facilitate the APEC process and keep up with cooperation of mutual benefit with other members," Hu said.

He proposed that APEC member economies consider three points for the development of the 21-member forum, which groups Australia, Brunei, Canada, Chile, China, Chinese Hong Kong, Indonesia, Japan, South Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, Chinese Taipei, Thailand, the United States and Vietnam.

First, Hu said, the APEC approach, which features respect for differences, equality, mutual benefit, voluntarism and consensus, should be upheld.

"Facts have proved that such an approach represents an effective vehicle and a right choice for regional cooperation, as it tallies with our region's diversity, accommodates the members' differing needs and helps members to balance their interests," the Chinese president said.

Secondly, APEC should embrace reform and innovation by willingly adapting itself to changing circumstances.

"An organization can maintain its vigor and grow from strength to strength only when it can keep pace with the times and innovate continuously," Hu said. "APEC should act proactively to adapt to new circumstances, take on new challenges, conduct necessary reforms and readjustments to itself and strive to make its activities more timely and relevant."

Thirdly, Hu said, APEC should gear its multi-faceted cooperation more to the business communities and the general public."

"We need to learn more about what they think and what they want and do our best to help them," Hu said.

On China's economic performance, Hu said that China has overcome the negative impact of the SARS outbreak and have sustained the momentum of sound growth.

"We are confident that, on balance, our targets for economic and social development this year will be met," Hu said.

He stressed that China's development will generate new opportunities for economic growth in the Asia-Pacific region and the whole world.

"We will continue to strengthen our friendship and cooperation with other countries and work for peace and development in the Asia-Pacific region and the world at large," Hu said.

"China will forever be a force dedicated to world peace and common development," the Chinese leader said.

Chinese president urges efforts boosting Asia-Pacific stability

Hu Jintao urged that Pacific Rim countries take steps to boost stability so as to keep the region's momentum of rapid growth seen in past decades.

"The reason why this region has kept the high growth momentum for decades is because it has basically maintained an environment of peace and stability," the Chinese president said in his address.

"We should enhance mutual trust and endeavor to make the Asia-Pacific region stable," Hu said. "Stability is a prerequisite for development."

"We should cherish particularly this peaceful and stable situation that has not come by easily," he added.

The Chinese president urged member economies to increase mutual trust on the basis of mutual respect, seek common ground while putting aside differences, and work to resolve whatever problems there might be through dialogue and consultation in a joint effort to maintain peace and stability in the region.

"The Asia-Pacific is a region of rich diversity. Countries are different in history, cultural tradition, political system and economic model, which gives the region its very vigor and vitality," Hu noted.

He also urged APEC members to work together in the fight against terrorism and other non-traditional threats.

"For some time, terrorist attacks have gone on unabated in the Asia-Pacific region, undermining the economic and social development of a number of countries," Hu said.

"We should respond to that with closer cooperation and stronger measures to address both the symptoms and root causes of the problem, stand rock firm against terrorism and create a more favorable environment for common development and common prosperity," the Chinese president added.

Chinese president stresses importance of balanced development

The Chinese President urged Asia-Pacific economies to take effective measures to strike a balance between economic and social development.

Hu called on APEC members to promote regional and global economic recovery by opting for appropriate macro economic policies and measures suited to their own conditions.

"Only with proper coordination can development be long-lasting," Hu said at the first day of the informal meeting, which started on Monday afternoon and will continue Tuesday.

Stressing the importance of scientific progress and technological innovation to sustained economic development, Hu said China plans to hold a high-level workshop in Beijing next February to discuss the issue of science and technology intermediary.

He proposed that APEC should reinforce its operations in the field of social development, and in particular, in promoting APEC exchanges in public health, job creation and social security.

"To promote such cooperation, China plans to sponsor some functions next year on labor and social security," Hu said.

Chinese president calls for revival of multilateral trade talks

President Hu Jintao called on the world's economies to "demonstrate their political will, take a flexible and pragmatic approach" to revive stalled multilateral trade talks.

Hu urged APEC members to "renew their commitment to the "Bogor Goals"and work together against trade protectionism and trade barriers.

He was referring to the 1994 meeting in Bogor, Indonesia, where APEC economies set the goal of establishing free trade between its developed economies by 2010 and its developing members by 2020.

Hu said the 5th World Trade Organization ministerial meeting in Cancun, Mexico, last month, ended in failure mainly because "the negotiations were not balanced enough to reflect the interests of all parties, particularly the concerns of the developing countries."

The Chinese president urged APEC economies to step up mutual opening of markets and improve the multilateral trading system.

He stressed that rising protectionism, new trade barriers and frequent trade frictions have worsened the difficulties facing many economies, especially the developing ones, hampering global economic recovery and growth.

Hu said that trade disputes should be resolved through dialogue and consultations.

"A fair and open multilateral trading system serves the steady growth of trade at both regional and international levels, contributes to sound economic expansion around the world and conforms to the interests of all parties," the Chinese president said.

"I hope all parties will demonstrate their political will, takea flexible and pragmatic approach and move ahead the new round of talks to an early fruition," Hu added.

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