APEC favors eliminating trade barriers

U.S. President Barack Obama formally opened the 19th annual summit in Hawaii of Asia-Pacific leaders on Sunday, November 14th ,  one day after securing agreement on the outlines of a deal to create a huge Pacific Rim free trade zone.

The leaders of the 21-member Asia-Pacific Economic Cooperation agreed to adopt market-driven innovation policies, reduce tariffs and eliminate other barriers to trade in environmental goods and services, and improve regulation to reduce unnecessary burdens on businesses.

Expanding export opportunities in the world’s fastest-growing regions will help U.S. growth and jobs.

The Heads of State and Government of the 21 APEC countries reached the conclusion that world trade should be further liberalized amid global economic uncertainty

According to a source in the APEC secretariat, Russia will host the Asia-Pacific Economic Cooperation (APEC) summit on September 8-9, 2012 in Vladivostok.

As a host country for APEC-2012, Russia has already outlined the agenda of the future meeting. It will mainly consists of the same issues tacked in Honolulu this weekend. Some of them are access to financial services and also the development of treasury economic system in the region.