S. Korean president stresses economy, regional integration at APEC summit
November 14, 2009 11:33 pm
By Byun Duk-kun
SINGAPORE, Nov. 14 — South Korean President Lee Myung-bak urged Asia-Pacific Economic Cooperation (APEC) leaders Saturday to enhance cooperation in dealing with the ongoing global economic crisis and efforts to build a regional economic community.
Lee also proposed that the leaders begin discussing a Free Trade Area of Asia-Pacific (FTAAP) as suggested in a joint study by South Korea, Australia and New Zealand, his office, Cheong Wa Dae, said.
The South Korean leader arrived here Friday for the annual summit of leaders from 21 economies around the Asia-Pacific rim.
"President Lee explained the outcome of the joint study on the FTAAP that it will contribute to the development of APEC members and proposed that the leaders discuss the issue as a long-term objective," Cheong Wa Dae said in a press release.
The proposal falls in line with Lee's repeated call for the continued leadership by major economies to fight the global economic crisis.
"President Lee will work to bring together APEC and the G-20 economic summit, which will be chaired by South Korea in 2010," Lee's spokeswoman Kim Eun-hye told reporters before the start of the APEC summit here. The meeting ends Sunday.
The G-20 summit has been named the premier forum for international economic cooperation, as its member countries account for over 80 percent of world gross domestic product (GDP). APEC states make up about 53 percent of world GDP.
Lee also urged APEC economies to freeze or roll back any new protectionist measures introduced since the economic crisis unfolded late last year, a key agreement of the G-20 forum.
The South Korean president and Singapore's Prime Minister Lee Hsien Loong agreed Friday in a bilateral summit to "make joint efforts to promote the key agreements from the G-20 summit" at this week's APEC forum.
Lee and Hsien wrapped up the first session of the APEC leaders' meeting, known as the Retreat. The leaders will meet again on Sunday to discuss their joint statement to be issued at the end of the summit. (PNA/Yonhap)
scs/rsm
Comments