World economy recovering, but still facing problems - APEC trade

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6/6 Tass 26

SAPPORO, Japan, June 6 (Itar-Tass) -- The world economy is recovering
from the global financial and economic crisis but is still faced with such
problems as price stabilization and unemployment, Trade Ministers of the
Asia-Pacific Economic Cooperation (APEC) forum said on Sunday in a
statement summing up the results of their two-day meeting.
"Despite the economic and financial crisis in 2008, the global economy
is recovering as a result of robust policy responses in each economy and
the joint efforts by the international community. Nonetheless, it still
faces challenges, in particular with regard to stabilizing prices,
creating employment, further facilitating labour adjustment, and boosting
demand," the statement said.
"The Asia-Pacific region has come to occupy an increasingly important
position in the global economy," the ministers said and added that their
countries share responsibility for the development not only of the region
, but of the global economy.
The ministers hailed the progress in achieving the Bogor goals of
"free and open trade and investment in the Asia-Pacific by 2010 for
industrialized economies and 2020 for developing economies."
The Russian delegation to the Sapporo APEC Trade Ministers meeting is
headed by Minister of Economic Development Elvira Nabiullina.
The Asia-Pacific Economic Cooperation (APEC) is a forum for 21 Pacific
Rim countries, including Russia, China, the United States, South Korea,
and Japan. The APEC countries account for half of the world's overall GDP
and more that 40 percent of global trade.
Russia, an APEC member since 1997, will host its first APEC summit on
the Island Russky in Vladivostok in 2012.
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