Commit APEC to recovery

With the world economy on a rocky road toward recovery, expectations are running high about the forthcoming Asia-Pacific Economic Cooperation meeting, which is to be held this weekend in Vladivostok.

Many hope that when leaders from APEC economies gather to discuss the region's future prosperity, they will send signals that help to inspire confidence in development. Keeping in mind the event's theme, "integrate to grow, innovate to prosper", those in attendance will discuss issues that threaten to be the source of economic and social risks in the region.

The likely topics include proposals to liberalize trade and investment and integrate the regional economy, as well as food security, supply chains and innovation. APEC member economies are expected to endorse a joint statement embracing integration, innovation and common prosperity.

As the most influential forum for economic cooperation, the APEC meeting will present a good opportunity to build trust, deepen integration and pursue a commitment to ushering in a bright future in the Asia-Pacific.

The APEC group exhibits huge diversity among its 21 members and noticeable differences in their methods and stages of development. Compared with the rest of the world, the Asia-Pacific has by and large withstood the global recession and achieved strong economic growth.

Even so, there is a dire need for APEC members to work even closer together in their responses to economic slowdowns, inflation and joblessness. APEC members should bear in mind the diversity of their alliance and make sure they take all of their various differences and concerns into consideration.

Given that some members view others' development as a threat and have put up trade barriers under the pretext of protecting their domestic industries, the group should express a commitment to upholding the principles of non-discrimination, openness and tolerance while they work toward regional integration.

For China's part, it will continue to cooperate with APEC members and support initiatives that contribute to regional integration and prosperity. President Hu Jintao is expected to elaborate in Vladivostok on China's views about these matters, thereby helping the world gain a clearer picture of China's proposals to bolster the growth of APEC economies.

China is willing to see the meeting reach a broader consensus on important issues and improve food security and the international system of trade. It is also opposed to protectionism and believes strongly that trade negotiations should take the interests of developing economies into consideration.

(China Daily 09/07/2012 page8)