The ministers also suggested studying possibilities for using the existing APEC funds for eco goods before the end of 2015.
Promotion of regional economic integration, innovative development, economic reform and ways of achieving economic growth and increasing integrated inter-dependence as well as infrastructure development were part of the agenda of the two-day APEC ministerial meeting. China’s proposal to outline 4 key directions in implementing the idea of forming an Asia-Pacific free trade zone caused a lively debate. Ulyukayev backed up the Chinese initiative. He considers it expedient to set concrete temporary targets. Besides, the Russian minister noted that the study should be exclusively analytical.
Russia supported a project initiated by China and the United States for the creation of the APEC alliance for complementary development of supply chains. Its main task is to reveal and solve problems as part of the APEC action plan to ensure the interconnection of supply chains, interaction of technical experts and define resources needed for effective realization of projects. The action plan is a document, comprising various aspects of international interaction, designed to step up closer and more effective ties among the APEC economies. The document will reflect the achievements of APEC economies and regional problems; formulate approaches to overcoming trade barriers and set concrete quality targets.