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APEC economic leaders meeting concludes, eyeing inclusive growth

Xinhua, November 19, 2015 Adjust font size:

The Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting concluded here on Thursday, with the 21-member economies issuing a joint declaration focused on inclusive economic growth.

The leaders said that they will fully realize the vision of a stable, integrated and prosperous community in the Asia-Pacific region, in which all members can enjoy the benefits of economic growth and technological progress, according to the declaration.

The leaders said that the global growth is uneven and continues to fall short of expectation, adding that risks and uncertainties remain in the global economy, including inadequate demand growth, financial volatility, and structural problems weighing on actual and potential growth.

Holding this in mind, the APEC member economies agreed to build inclusive economies by supporting comprehensive and ambitious structural reforms so as to achieve positive economic, social, and environmental outcomes and promote good governance.

They also committed to deepen their financial markets, mitigate risks and foster micro, small and medium enterprises' (MSMEs) participation in regional and global markets as this year's APEC eyed the MSMEs as a major driver of regional economy.

The economies also vowed to build sustainable and resilient communities, make urbanization work for growth, invest in human capital development and enhance the regional economic integration agenda through strengthening collaboration and strongly supporting the work of the APEC and its other regimes.

Philippine President Benigno Aquino III told a press conference after the economic leaders' retreat that the leaders discussed critical regional and global issues they face as one Aisan-Pacific region, adding that "if past APEC meetings were highly technical discussions on trade issues, the discussions over the past couple of days have taken a broader approach."

The APEC Economic Leaders' Meeting kicked off from Wednesday to Thursday and the annual meeting will be held in 2016 in Peru. Endit