ASEAN KEY DESTINATIONS
APEC ministers meet focuses on mining, metals cooperation
The agenda included supply and demand trends for minerals, resource management and steps to boost regulatory efficiency and mitigate the environmental impact of the industry.
A statement by the Asia-Pacific Economic Cooperation (Apec) forum noted that the group's 21 members accounted for 70 per cent of the world's metal and mineral production. Apec members are also the biggest exporters as well as accounting for the lion’s share of consumption of minerals and metals.
"The volumes of the consumed resources are continuously growing. Therefore, this growth will continue further," Russian Industry and Trade Minister Denis Manturov said.
"The reliable supply of raw materials is crucial to the region’s sustainable development," Manturov said. "We must develop new deposits and build new refineries. That means it is necessary to provide the flows of investments into the real sector of Apec economies."
"However, we cannot limit ourselves to measures that merely increase the extraction of mineral resources," he said. “Within Apec, we have a unique opportunity to coordinate our efforts in this sphere."
Manturov also recognised that the region’s development can be based on a harmonised effort to improve living standards. "A balance between the interests of society and business is needed to keep such spheres as employment levels and environmental protection in line," he said.
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