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APEC forum prepares roadmap for APR trade, investment development

May 18, 2014, 9:09 UTC+3 QINGDAO (eastern China)
"I believe that discussion was fruitful", - Russian Minister of Economic Development Aleksey Ulyukayev said
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© ITAR-TASS/ Alexei Nikolsky

QINGDAO (eastern China), May 18 /ITAR-TASS/. Participants in the Asia-Pacific Economic Co-operation (APEC) forum have prepared a roadmap plan for development of trade and investments in the Asia-Pacific Region (APR), Russian Minister of Economic Development Aleksey Ulyukayev said on Sunday.

“I believe that discussion was fruitful. We focused on the best conditions for integration in the Asia-Pacific region. We see potential for further development of trade and investments. We have prepared a roadmap plan for development of trade and investments in the Asia-Pacific Region. We believe that all participants will win from this process,” Ulyukayev believes.

The APEC forum was established in November 1989 as an instrument of peaceful and non-conflict settlement of economic, social, ecological and other problems in the Asia-Pacific Region. All APEC activity is based on the principle of consensus. Along with Russia, APEC brings together Australia, Canada, China, Malaysia, the United States, the Philippines, South Korea, Japan and several other countries that make a total of 21 member states.

Current meeting of the heads of economic agencies of APEC member states is being held in the Chinese city of Qingdao on May 17-18. The meeting is devoted to joint construction of partnership relations in the Asia-Pacific Region.

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