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APEC leaders issue joint declaration on regional development

Updated: 2012-09-09 15:37

VLADIVOSTOK, Russia - Economic leaders of the Asia-Pacific Economic Cooperation (APEC) members on Sunday issued here a joint declaration that outlines the future development of the region.

Under the theme of "Integrate to Grow, Innovate to Prosper," the leaders agreed that robust international trade, investment and economic integration are key drivers of strong, sustainable and balanced growth.

Against the backdrop that the global economy has continued to face a number of challenges and is subject to downside risks, the leaders said they welcome European leaders' commitment to taking all necessary measures to safeguard the integrity and stability of the euro area.

"We remain committed to reducing imbalances by strengthening deficit economies' public finances with sound and sustainable policies that take into account evolving economic conditions and, in economies with large current account surpluses, by strengthening domestic demand and moving toward greater exchange rate flexibility," said the declaration.

They also reaffirmed their commitment to strengthening a multilateral trading system, pledging that they would push forward the Doha Round negotiations.

The leaders also reached consensus on the development of green growth, in a bid to seek practical, trade-enhancing solutions to global environmental challenges.

They also touched upon such issues as food security, the establishment of reliable supply chains, and cooperation in fostering innovative growth.

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