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People's Daily Online>>Foreign Affairs

APEC pushes for trade, growth amid world economic uncertainty

(Xinhua)

11:16, November 15, 2011

HONOLULU, United States. Nov. 14 (Xinhua) -- Leaders of the Asia-Pacific Economic Cooperation (APEC) economies on Sunday concluded their annual consultation here to promote trade and regional integration. The leaders have chosen to add some certainty to the uncertain world economy, while trying to gain some momentum in promoting next generation growth models and trade issues.

In remarks to the press after the meeting, U.S. President Barack Obama said leaders agreed to "a series of steps that will increase trade and bring our economies even closer."

The steps include "a new set of principles on innovation to encourage the entrepreneurship that creates new businesses and new industries."

With simplified customs and exemptions from certain tariffs, Obama said, the economies would "encourage more businesses to engage in more trade," including small businesses.

Trade facilitation has always been the core message of APEC. The message now comes at a time of great economic uncertainty, with developed economies mired in slow recovery and growth, while suffering high unemployment, and Asian countries are faced with inflationary pressures and slowed growth.

The situation is most dire in Europe, where the eurozone crisis threatens the Asia-Pacific rim, which accounts for half the world's economy.


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