World Video | Defence | Foreign Affairs | Natural Events | Trade | NZ in World News | NZ National News Video | NZ Regional News | Search

 


APEC: Innovation, reform and economic growth

APEC: Innovation, reform and economic growth are mutually reinforcing

Issued by the APEC Senior Officials’ Meeting

Ningbo, China, 27 Feb 2014 - APEC Senior Officials acknowledged on Thursday that the global economy is showing some signs of recovery but at the same time, they recognized that risks and uncertainties still exist and the revival of global economy and healthy economic growth still face challenges.

Taking into consideration the theme of APEC 2014, “Shaping the Future through Asia-Pacific Partnership” and regional economic integration, Senior Officials took a forward-looking approach to their agenda at their opening session this morning in the port city of Ningbo.

APEC Senior Officials explored the development of a post-Bali work plan on concluding a global trade facilitation agreement, strengthening regional economic integration and formulating a roadmap to a Free Trade Area of the Asia-Pacific. For that purpose, a Friends of the Chair Committee was established within the Committee on Trade and Investment to promote issues related to a Free Trade Area of the Asia-Pacific.

“APEC Member economies play important roles in promoting global growth and the economic performance in the region will have either direct or indirect impact on the global economy,” said Li Baodong, Chair of the APEC 2014 Senior Officials’ Meeting and Vice Foreign Minister of China.

“As the engine of the world economy, APEC member economies need to work on innovative development, economic reform and growth in the wake of the global financial crisis,” said Li.

Li explained that APEC needs to explore new models of development and seek new sources of growth.

“Innovation, reform and economic growth are mutually reinforcing,” he stated. “As we work to establish a favorable cycle for economic growth, it is important that we do not lose sight of the developments of both regional economic integration and fragmentation.”

“The Asia-Pacific region needs to speed up regional economic integration and bring it to a higher level,” Li continued. “We need to tackle bottleneck issues like infrastructure development, set up a regional framework of cooperation suitable to our development level and build a closer partnership to achieve mutual benefit and common development.”

APEC member economies are addressing the pressing challenges and opportunities for the integration and development.

“Through concerted, open and inclusive, efforts, we will be able to facilitate activities to achieve new results and breakthroughs, thereby promoting the sustained development, progress and prosperity of the entire Asia-Pacific region.”

Senior Officials will continue to identify concrete initiatives to promote innovative development, economic reform and growth; economic and technical cooperation; and strengthen comprehensive connectivity and infrastructure development.


© Scoop Media

 
 
 
 
 
World Headlines

 

Whaling: Japan’s Institute for Cetacean Research In Defiance Of World Court Ruling

The ICR Today Filed Court Briefs Stating They Intend to Return to Antarctica to Hunt Whales in 2015-2016; Will Seek to Enjoin Other Sea Shepherd Entities from Obstructing Their Operations More>>

Ukraine: UN Urges 'Maximum Restraint' Amid Situation In East Ukraine

Deeply concerned by the deteriorating situation in eastern Ukraine, United Nations Secretary-General Ban Ki-moon has called for maximum restraint and appealed to all sides to work towards calming the situation, which has the 'growing potential' to ... More>>

United Nations: Children Can Now Lodge Complaints With The UN

GENEVA (14 April 2014) – United Nations child rights experts have hailed a new treaty that allows children to complain directly to the UN Committee on the Rights of the Child about alleged violations of their rights. More>>

India: Election But A Ritual In Nation Lacking Rule Of Law

The Asian Human Rights Commission (AHRC) congratulates the people of India for their participation to elect the 16th Lok Sabha. The process has attracted, as usual, considerable media attention across the world. Media claims the process to be 'the largest democratic ... More>>

Solomon Islands: Thousands Remain Affected After Flash Floods

An estimated 52,000 people remain affected in the worst-hit areas of Honiara and greater Guadalcanal following last week’s devastating floods which killed at least 23 people. More>>

ALSO:

World: Some 437,000 People Murdered Worldwide In 2012 - UN

Almost half a million people across the world lost their lives in 2012 as a result of intentional homicide, with the highest murder rates logged in the Americas and Africa, and the lowest in Europe, Asia and Oceania, the United Nations Office on ... More>>

Central African Republic:: Security Council Establishes UN Peacekeeping Mission

Deeply concerned about the deteriorating security situation and ongoing human rights abuses in the Central African Republic (CAR), the Security Council today approved the establishment of a nearly 12,000-strong United Nations peacekeeping operation ... More>>

ALSO:

Parliament: NZ Sending Aid Flight To Solomons

Foreign Affairs Minister Murray McCully has announced further support for the response to severe flooding in Solomon Islands. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
World
Search Scoop  
 
 
Powered by Vodafone
NZ independent news