APEC finance ministers to meet in Kyoto.

5/11 Tass 186

TOKYO, November 5 (Itar-Tass) -- Finance ministers of the countries,
integrated in the Asia-Pacific Economic Cooperation (APEC), are going to
discuss the strategy of the economic growth in the region at a meeting,
which opens in Kyoto, Japan, on Friday.
Participants in the meeting will exchange views on a number of global
problems, for instance, the instability of currency exchange rates and
debt problems of some countries. Japanese Finance Minister Yoshihiko Noda
will chair the meeting. Russian Deputy Minister of Finance Dmitry Pankin
will lead the Russian delegation.
The purpose of the two-day meeting will be the working out of a common
strategy of long-term economic growth. APEC representatives have agreed
already at a number of preliminary meetings that the new strategy should
be "balanced, open, stable, based on innovations and safe." Participants
in the meeting are going to adopt a joint statement on its results and to
draw up a report, which will be submitted for the consideration of the
APEC leaders in mid-November at the APEC summit, to be held in Yokohama.
APEC rallies 21 economies of the Asia-Pacific Region, including
Russia, the People's Republic of China, the United States, the Republic of
Korea and Japan. They account for about 50 per cent of the Gross Domestic
Product (GDP) and for 44 per cent of world trade turnover. Russia has been
a member of APEC since 1997. It will host an APEC summit for the first
time in Vladivostok, at the Russky Island, in 2012.
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