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Minister calls for APEC rejection of protectionism

(Xinhua)
Updated: 2008-11-20 16:59

Chinese Commerce Minister Chen Deming called Wednesday for APEC member economies to reject unilateralism and trade protectionism in order to tackle the international financial crisis.

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Chen made the call while addressing the 20th ministerial meeting of the Asia-Pacific Economic Cooperation (APEC) scheduled for Wednesday and Thursday in the Peruvian capital.

APEC members should adopt an approach of fair and just multilateralism in trade and regionalism characterized by openness and tolerance, Chen said.

He called for the developed members in the bloc to shoulder more responsibilities.

He also appealed for headway in the stalled Doha Round talks of the World Trade Organization (WTO), noting the current priority is to turn the political will into practice.

China will stick to its policy of opening up, abide by the WTO rules and fulfill its obligations as a WTO member, Chen said.

He said China will make concerted efforts with other APEC member economies to keep the Asia-Pacific region as one of the most open, confident and energetic places in the world.

China, Chen said, supports the regional integration process in various forms within the APEC framework to facilitate the promotion of convenience for trade and investment, the creation of favorable trade environment, trade increase and economic development in the region.

Chinese Foreign Minister Yang Jiechi, who also attended the meeting, said the development trend of the Chinese economy remains generally unchanged.

He said China has adjusted its policy to strengthen the macro-control over its economy in the face of the current international financial crisis.

A stable and relatively fast growth of the Chinese economy is a significant contribution China makes to safeguard international financial stability and boost world economic development, Yang said.

He noted that the Chinese government's newly announced measures designed to boost domestic demand will be a strong driving force for China's economic development and a contribution to the stable development of the world economy.

On APEC's reform and development, Yang said the bloc should conduct the reform in a sound and steady approach for efficient improvement and stronger cooperation.

Yang also called for more APEC long-term projects for after-disaster reconstruction to accelerate the reconstruction of disaster-hit regions, work out a model to this regard and have better exchanges on experience.

The Chinese diplomat said the promotion of corporate social responsibility within the APEC framework should conform to the theme of economic cooperation.

The move should focus on enhancing corporations' competitiveness, improving business and investment environment for an all-round, harmonious and sustainable development in the region.

The ministers' meeting was a part of the ongoing APEC Leaders' Week scheduled for November 16-23.