APEC leaders meet in Yokohama to discuss regional integration

Leaders from 21 Pacific Rim economies began their annual meeting of the Asia-Pacific Economic Cooperation (APEC) forum in Yokohama on Saturday to set a vision for regional economic integration amid changing regional and global economic landscape.

The meeting opened with Japanese Prime Minister Naoto Kan's welcome banquet for the leaders, many of whom flew into this bustling port city just south of Tokyo after attending a Group of 20 summit in South Korea.

Under the theme of "Change and Action", the leaders will ponder the future direction for regional economic integration and formulate a new economic growth strategy to sustain economic recovery and lay the foundation for future prosperity.

Trade and foreign ministers meeting ahead of the summit acknowledged in their statement that APEC member economies "are now facing challenges, in particular, of addressing volatility, creating employment and reconsolidating finance, and continuing to keep a balance between recovery and the exit strategies of fiscal and monetary policies."

The leaders will also discuss an assessment of the achievement of the Bogor Goals of free and open trade and investment, adopted at a 1994 APEC meeting in Indonesia.

Source: Xinhua