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APEC's Importance in World Economy Highlighted
The Asia-Pacific Economic Cooperation (APEC) can help turn around the current economic slowdown in the region.
Wang Guangya, chair of this year's APEC Senior Officials' Meeting (SOM), said at a news conference that APEC can play an "irreplaceable'' role in strengthening cooperation among economies in the region so as to put the economies back on the development track.
"We are encountering more challenges now than opportunities,'' Wang said. "Some economies are slowing down their growth pace and some have experienced difficulties and have yet to recover. It is important to strengthen cooperation among economies under the current conditions.''
After the boom brought on by the new economy in recent years, major world economies are now experiencing a slowdown.
To make matters worse, last month's terrorist attacks on the United States rendered a heavy blow to the US economy, which had just started to show some signs of recovery.
Still, the chill can be felt in other parts of the world.
Wang said that China, as a member economy, is willing to contribute to the prosperity and recovery of the region.
Monday, senior officials from the 21 APEC member economies held their last meeting of the year, a year characterized by efforts to promote free trade and investment and economic and technical cooperation.
This year's APEC ministerial and leaders' meetings, scheduled for later this week, will occur only a little more than a month after the September 11 terrorist attacks.
Although the main focus of the meetings is still APEC's traditional concerns -- trade and investment liberalization and facilitation and economic and technical cooperation -- leaders are expected to use this first international conference after the attacks to discuss anti-terrorism.
Wang, also Chinese vice-foreign minister, said Monday that "it is only natural'' and "the common wish'' for APEC economies to discuss anti-terrorism.
In a news briefing held earlier Monday, Chinese Foreign Ministry spokeswoman Zhang Qiyue said that Chinese Foreign Minister Tang Jiaxuan is expected to invite his counterparts from other APEC economies to a working breakfast on Thursday to discuss anti-terrorism.
The leaders will issue a statement on anti-terrorism after their meeting, scheduled for October 20 and 21, Wang said.
He said that in the statement, APEC members will strongly condemn last month's terrorist attacks on the US and express their willingness for international cooperation in the field.
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