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Putin highlights Russia's APEC agenda

(Xinhua)

08:50, September 06, 2012

MOSCOW, Sept. 5 (Xinhua) -- Russian President Vladimir Putin Wednesday underscored the Moscow-initiated priority areas for the upcoming Asia-Pacific Economic Cooperation (APEC) summit in the Far Eastern city of Vladivostok.

In an article wrote for the Wall Street Journal Asia edition, Putin praised the APEC framework as "a good example of how integration contributes to economic development, giving a positive signal to business."

One major topic for discussion at the summit will be freeing up trade and investment flows to stimulate economic growth, taking into account Russia's recent accession to the World Trade Organization (WTO), Putin wrote.

The principle of free trade is undergoing a crisis, as "we regularly observe recurrences of protectionism and veiled trade wars instead of lifting barriers," Putin said, calling for joint efforts to "clear the accumulated imbalance."

Food security is another key issue, as all participants of the summit agreed that the instability in global food markets could lead to serious economic and social risks. Thus, "we must jointly offer answers to this challenge," said Putin.

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