APEC leaders discuss food security, innovative growth

VLADIVOSTOK, Russia - Chinese President Hu Jintao and leaders of other Asia-Pacific Economic Cooperation (APEC) members are meeting for the second day here Sunday on strengthening food security and fostering innovative growth.

At Saturday's meeting, APEC leaders reviewed APEC achievements made in the past 20 years, and exchanged views on trade and investment liberalization, regional economic integration and the establishment of reliable supply chains.

In addition to the topics being discussed at Sunday's meeting, APEC leaders will exchange views on the world and regional economic situation at a working luncheon.

Special coverage: Hu attends APEC Summit

Speaking at Saturday's meeting, Hu said that China wishes to take the hosting of the APEC Economic Leaders' Meeting in 2014 as an opportunity to deepen cooperation with other APEC members and make fresh and an even greater contribution to the development, prosperity and people's well-being in the Asia-Pacific and beyond.

Referring to trade and investment liberalization and regional economic integration, the Chinese leader said APEC members should follow the spirit of the Bogor Goals and move forward trade and investment liberalization and facilitation with Bogor at its core.

The Bogor Declaration adopted by APEC leaders in 1994 sets the goals of achieving trade and investment liberalization and facilitation by 2010 for developed economies and 2020 for developing ones.

On the establishment of reliable supply chains, Hu called on the APEC members to scale up investment in infrastructure, enhance connectivity and increase network building in the region.

This year's APEC meeting convened at a time when destabilizing factors and uncertainties remain prominent in the world economy.

At present, major economies are experiencing sluggish growth, global aggregate demand remains weak, eurozone economies are confronted with a serious debt crisis, international trade has notably slowed, and unemployment is still high in many advanced economies.

Russia, the meeting host, sets "Integration to Grow, Innovate to Prosper" as the theme of the gathering, with the aim of stimulating regional growth.

At the end of the two-day meeting, the leaders will issue a declaration which will outline the future development of the region.