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14 July 2009

Apec trade chiefs to discuss economic crisis in Singapore

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The Asia-Pacific Economic Cooperation (Apec)'s 21 member economies, including Thailand, will mainly discuss the ongoing economic crisis and preparations for economic recovery, as well as multilateral trading system supports in regard to particular trade barriers at a meeting in Singapore next week, a senior Thai Ministry of Commerce official was quoted by Thai News Agency as saying Monday.

Thailand’s Department of Trade Negotiations director-general Nuntawan Sakuntanaga said Commerce Minister Pornthiva Nakasai will meet Apec trade ministers for talks on boosting the regional economy on July 21-22 in Singapore.

The 2009 meeting of Apec Ministers Responsible for Trade (MRT) will also emphasise regional economic integration and strengthen comprehensive and cooperative work for the organisation, Nuntawan said.

In addition, the meeting is expected to stress the urgency of bringing the Doha Round talks, which collapsed in 2006, to a prompt and successful conclusion.

It will encourage trade and investment liberisation and facilitation in the region, as well as logistics system, she said.

Apec, established in 1989, aims to further enhance economic growth and prosperity for the region and to strengthen the Asia-Pacific community. The leading Pacific Rim trade organisation has 21 members, accounting for approximately 45 per cent of world trade.


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