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Outgoing RBNZ Governor Bollard confirmed to lead APEC

Outgoing RBNZ Governor Bollard confirmed to lead APEC Secretariat

Sept. 7 (BusinessDesk) - Reserve Bank Governor Alan Bollard, who delivers his final monetary policy statement next week, has been confirmed as the next leader of the Asia Pacific Economic Cooperation's Secretariat.

Bollard was introduced to APEC ministers on Thursday and will kick off his three-year term from the start of next year, the regional body said in a statement. As head of the Secretariat, Bollard will coordinate the technical and advisory body that supports sustainable economic growth in the region.

"Dr Bollard's astute management of financial and economic policy and experience running policymaking institutions, even during volatile times, adds value to APEC's shared commitment to sustainable growth and development," said Russian Deputy Foreign Affairs Minister Igor Morgulov, who is chairing the APEC 2012 Senior Officials. "His leadership will help guide APEC's work to advance its agenda to boost trade and recovery."

APEC was set up in 1989 as a means to facilitate free and open trade across the region, and last year leaders threw their weight behind the controversial Trans-Pacific Partnership, a deal which aims to align regulatory settings in a region-wide block to reduce the barriers and costs of trade.

Bollard said he will work closely with China, the Philippines and Indonesia over the next three years, which will be hosting the annual meetings during his tenure.

Leaders of the 21 APEC member nations have converged on Vladivostok, Russia for this year's meeting. New Zealand Prime Minister John Key is expected to criticise agriculture subsidies in the US, Japan and Europe when he opens the summit as the first political leader to speak.

(BusinessDesk)

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