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APEC trade ministers meet in Kazan Mon in prep for Sept summit

June 04, 2012, 2:06 UTC+3
The meeting will continue until June 5
1 pages in this article

KAZAN, June 4 (Itar-Tass) — Liberalization of international trade and investments is the main theme of a meeting of the Trade ministers of the member-countries of the Asia-Pacific Economic Cooperation (APEC) forum. The ministerial meeting opens here on Monday in preparation for an APEC-2012 September summit.

Russia is represented at the meeting by Minister of Economic Development Andrei Belousov. The meeting will be attended by Igor Shuvalov, RF First Vice-Premier, an official at the information department of the Russian Center for APEC Studies (RCAS) has told Itar-Tass.

"The main subjects for discussion at the meeting will be priorities designated by the Russian Federation as key ones for 2012. These are liberalization of trade and investments, regional economic integration, and the enhancement of food supply security. The chief delegates are to discuss ways for forming reliable transportation-and-logistics chains and touch upon intensive interaction for innovations-based growth," the RCAS official pointed out.

The ministerial meeting will take place at the Kazan Academy of Tennis, which has been built under the programme for preparations for the XXVII World Student Games, and which will become the concluding event within the scope of the second conference of APEC senior officials and attendant discussions in Kazan. On Sunday the Agriculture ministers of APEC countries adopted a Kazan Declaration on Food Supply Security.

The ministerial meeting is to be attended by the Ministers of Trade of Australia, Brunei, Vietnam, Hong Kong (China), Indonesia, Canada, the People's Republic of China, the Republic of Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, Singapore, the United States, Thailand, Taipei (China), the Philippines, Chile, and Japan.

The meeting will continue until June 5.

APEC forum was establsished in 1989. Itcomprises 21 countries. Russia joined APEC in 1998. APEC countries account for 49 percent of the world's population, 55 percent of GDP, 47 percent of trade turnover, and 44.5 percent of direct investments.

In 2012 Russia presides over the APEC for the first time. Preparations for the APEC-2012 summit began in St Petersburg in December 2011. The summit will be held on the Russkiy (Russian) Island in the Far East from September 2 to 9.

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