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APEC: Existing pacts will lead to giant FTA

11-11-2010 09:42 BJT Special Report:President Hu Attends APEC Summit in Yokohama |

Asia-Pacific ministers have agreed to build on existing pacts in the dynamic region, to establish a giant free trade zone in coming years. They also pledged to avoid taking any new protectionist measures over the next five years, and urged a conclusion of the Doha round of trade liberalization talks in 2011.

43 bilateral and mini-free trade pacts have been signed in the region. Businesses have long urged a single pact for the Pacific rim, to simplify and harmonize the standards and rules.

APEC members account for more than 40 percent of global trade, and more than half of the world's economic output. They've been developing a new growth strategy to achieve balanced, inclusive, sustainable, innovative and secure economic growth.

Editor:Xiong Qu |Source: CNTV.CN

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