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Updated Thursday, November 12, 2009 2:05 pm TWN, By VIJAY JOSHI, AP



	APEC Finance Ministers pose for a group photo in Singapore, Thursday, Nov. 12, 2009. Singapore will host 21 world leaders at the APEC summit later in the week. (AP) Enlarge Photo

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APEC ministers plot ways to sustain recovery

English said the impact of the weak U.S. economy has been cushioned by robust Asian economies, especially China.

"We are on the road to recovery but there are going to be a few bumps along the road," he said.

A main focus for the regional dialogue remains efforts to create an Asia-Pacific free trade area, which would account for about half the world's exports and imports if it becomes reality.

Some ministers expressed optimism that Obama would support the plan given the deadlock in World Trade Organization talks.

But the plan is still some years away because of reluctance among some members, especially in Southeast Asia, to sign on to an agreement that would be dominated by the U.S.

"I think it's a vision that any region could aspire to but whether or not it will be achievable and when" remains to be seen, said Surin Pitsuwan, the secretary-general of the Association of Southeast Asian Nations.

"There are many, many ideas floating around ... but we have to move very, very incrementally and carefully," he said.

APEC was founded 20 years ago to promote greater trade and integration around the Pacific Rim. Its scope since has expanded to encompass a wide range of issues, including climate change, energy security and food security for the millions of vulnerable poor in the region.

In a significant breakthrough, APEC government officials agreed that leaders should discuss abolishing trade restrictions on food. The plan was recommended by the APEC Business Advisory Council, or ABAC, a council of regional business leaders.

ABAC says free trade in food would allow APEC members to use one another's strengths to produce the best and cheapest food for all.

"We have finally got to an agreement with officials that this should go on at a very high level dialogue ... we are also calling for rules to make leaders end export controls," said John Denton, an ABAC official.

If the plan takes off, Thai rice could be imported in any amount by any APEC member. Currently, many countries, including the Philippines, Japan and South Korea, restrict rice imports to protect their farmers.

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