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APEC Ministers Review Progress in Strengthening Markets
APEC Ministers Sunday reviewed progress in strengthening markets in the Asia-Pacific region and projects in economic and technical cooperation, according to a press release issued at the end of the ministers' first day meeting.
The ministers discussed a report on strengthening markets, it said.
During the discussion, New Zealand Foreign Affairs and Trade Minister Phil Goff said the critical point is that, on its own, trade liberalization is "not enough to realize the full potential of our economies."
Indonesian Industry and Trade Minister Luhut Pandjaitan said that APEC's efforts to help developing members make their markets healthier and stronger is "a key to increased potential for market-led growth."
On economic and technical cooperation, one of the three pillars of APEC, Chinese Foreign Minister Tang Jiaxuan called for economies to prioritize cooperation projects so that APEC's limited resources could be utilized to best advantage.
The Chinese minister said outside resources should be tapped to remedy under-funding.
Goff said the new Economic and Technical Cooperation Clearing House website was "effectively a gateway to the economic and technical cooperation work that APEC and other organizations are doing."
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