Singapore: APEC commences

Updated On: Nov 09, 2009

THE 20th summit of Asia-Pacific leaders started on Sunday with a closed-door meeting of senior officials from the 21 Apec members.

The officials have two days to conclude their draft reports before Apec finance, trade and foreign ministers meet on Wednesday and Thursday.

Chairing the sessions of the Senior Officials' Meeting at the Suntec Convention Centre is Mr Ravi Menon, Second Permanent Secretary at Singapore's Ministry of Trade and Industry.

After taking into account the usual factors that influence trade, Apec members are three times more likely to export to another member than to a non-member and two times more likely to import from another member than from a non-member.

The findings are further supported by a five-fold increase in trade within the Apec since its establishment in 1989 and the 67 per cent share that intra-regional trade comprises of total Apec trade, said Xinhua. 

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Source: Straits Times, November 9, 2009, http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_451874.html

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