SINGAPORE, Nov. 12 (Xinhua) -- The Asia-Pacific Economic Cooperation (APEC) Leaders Week, running from Nov. 8-15 in Singapore, will see economic leaders and ministers of the 21 member economies discuss issues relating to post-crisis recovery and regional economic integration.

    Here are two of the key milestones APEC has achieved in trade and investment facilitation.

    -- 2001 Shanghai Accord

    The Shanghai Accord, adopted at the 2001 APEC leaders' meeting, focuses on Broadening the APEC Vision, Clarifying the Roadmap to Bogor and Strengthening the Implementation Mechanism.

    Leaders committed themselves to broaden APEC's vision for the future by identifying a conceptual and policy framework to guide the APEC in the new century.

    They also reached the consensus of clarifying APEC's roadmap to Bogor by achieving the free trade and investment goals on schedule with a mid-term stocktake of overall progress in 2005, promoting the adoption of appropriate trade policies for the New Economy, following up on the APEC Trade Facilitation Principles and pursuing greater transparency in economic governance. In particular, leaders commit to a 5 percent reduction in trade transaction costs over five years.

    What's more, they agreed to strengthen APEC's implementation mechanism, including the Individual Action Plan Peer Review Process and Ecotech and capacity building efforts.

    -- 2005 Busan Roadmap

    The Busan Roadmap was adopted at the 2005 APEC leaders' meeting to achieve the Bogor Goals, which were set at the 1994 APEC meeting with the aim of achieving free and open trade and investment in the Asia-Pacific region by 2010 for industrialized economies and 2020 for developing economies.

    As 2005 marked the midpoint between the creation of the APEC in1989 and its ultimate goals in 2020, the member economies that year launched a "Mid-term Stocktake of Progress Towards the Bogor Goals" report which listed achievements, noted challenges that lay ahead and then outlined the "Busan Roadmap to the Bogor Goals."

    The roadmap contained the following agenda: support for the multilateral trading system, which can be interpreted as working towards the successful ending of the ongoing Doha Round; strengthening collective and individual actions; promotion of high-quality regional trade agreements and free trade agreements; Busan Business Agenda; A strategic approach to capacity building and the pathfinder approach.

    In particular, leaders called for a further 5 percent reduction in trade transaction costs by 2010, on the basis of a favorable review of the original Shanghai goal.

Special report: President Hu Visits Malaysia, Singapore, Attends APEC summit