The 18th Ministerial Meeting of APEC (Asia-Pacific Economic Cooperation) opens in Hanoi, Vietnam, Nov. 15, 2006. (Xinhua Photo) Photo Gallery >>>

Special Report: Hu Jintao visits 4 Asian nations, attends APEC Meeting

    HANOI, Nov. 15 (Xinhua) -- Foreign and trade ministers or representatives from the 21 Asia-Pacific Economic Cooperation (APEC) member economies started their meeting here Wednesday to work out strategies and plans for the group's future free trade, human security and system reform.

    The 18th APEC Ministerial Meeting was opened on Wednesday morning at Hanoi's National Convention Center to make preparations for the 14th APEC Economic Leaders' Meeting slated for Nov. 18-19.     

    Vietnamese Deputy Prime Minister and Foreign Minister Pham Gia Khiem, who co-chaired the meeting with Vietnamese Trade Minister Truong Dinh Tuyen, said that during the two-day meeting, the delegates are to review APEC cooperation and define new action plans and initiatives, including those on improving investment and business climate for the common prosperity in the region.

    On Wednesday, the delegates will center their discussions on six topics, including regional trade agreements (RTAs) and free trade areas (FTAs), the Hanoi Action Plan to implement the Busan Roadmap, and strengthening the multilateral trade systems as well as the contributions of members to the Doha negotiations round.

    Truong Dinh Tuyen said the Doha talks have temporarily interrupted, so it is the ministers' responsibility to push for the resumption of the negotiations.

    World Trade Organization (WTO) Director-General Pascal Lamy attended Wednesday's retreat.

    Human security and APEC system reform will also be discussed at the meeting.

    Since its inception in 1989 in response to the growing interdependence among Asia-Pacific economies, APEC has become a formidable regional forum acting as the primary regional vehicle for promoting open trade and practical economic and technical cooperation in the Asia-Pacific region.

    APEC accounts for more than one-third of the world's population, about 60 percent of the world's gross domestic product and about 47 percent of world trade. It represents the most economically dynamic region in the world.

    APEC currently has 21 members: Australia, Brunei, Canada, Chile, China, China's Hong Kong, Chinese Taipei, Indonesia, Japan, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, South Korea, Thailand, the United States and Vietnam. The chairmanship rotates among its members, with Vietnam holding the chair this year.

    Backgrounder: APEC Ministerial Meetings

    HANOI, Nov. 15 (Xinhua) -- Foreign and trade ministers or representatives from the 21 Asia-Pacific Economic Cooperation (APEC) member economies began their two-day gathering in Vietnam's capital Hanoi on Wednesday to make final preparations for the APEC Economic Leaders' Meeting (AELM) slated for Nov. 18-19.

    The following is a brief introduction to APEC's 17 previous ministerial meetings:

    As a major part of APEC's decision-making mechanism, the ministerial meeting has been commissioned with preparations for the APEC leaders' meeting. It is also tasked with the implementation of the resolutions adopted by the AELM and overseeing discussions of important economic issues in the region.

    The first APEC ministerial meeting was held on the initiative of then-Australian prime minister Robert Hawke, in Canberra, Australia, in November 1989. The session set the course for APEC as an open regional economic cooperation forum devoted to global trade liberalization, the promotion of trade, investment and technical cooperation in the Asia-Pacific region. The meeting marked the official launch of APEC. Since then, the ministerial meeting has become an annual event. >>>

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