Sep 1, 2012

Russia - Russia all set for APEC Summit

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THE Asia-Pacific Economic Cooperation (APEC) Leaders' Week will kick off this Sunday in Vladivostock, Russia, and will be attended by high-level delegations from across the region including senior government and business leaders from Brunei.

The event will culminate in the APEC Leaders’ Summit on September 8 and 9, which His Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam is expected to attend.

In an address given this week, Russian President Vladimir Putin said he was confident that the summit will broaden cooperation in Asia-Pacific and give a new impetus to sustainable development worldwide.

"Hand in hand with our APEC partners, we are promoting trade and investment liberalisation, closer integration, food security, cooperation in the field of prevention and mitigation of natural disasters, and diversification and improvement of transportation and logistics chains."

"All this is fully in line with the regional economies' aspirations towards creating a common system for free and open exchange of goods, services and capitals, and enhancing business and scientific contacts."

Russia's chairmanship of APEC comes under the motto "Integrate to Grow, Innovate to Prosper" and aims to enhance free trade with Asia Pacific countries.

In a recent interview with The Brunei Times, Russian Ambassador to Brunei Victor Seleznev added that "the Sultanate's involvement in the regional meeting was highly-valued".

"Brunei's active involvement in the APEC activities during the Russian chairmanship are highly valued in Moscow."

"For the Russian chairmanship, the personal presence of His Majesty will be of a special significance both from APEC and bilateral points of view," he said.

Seleznev said that the "wise and level-headed attitude" of His Majesty will be valuable during the leaders' meeting as the forum will discuss complex matters regarding regional economic integration.

Yesterday, Minister of Finance II Yang Berhormat Pehin Orang Kaya Laila Setia Dato Seri Setia Hj Abdul Rahman Hj Ibrahim attended the APEC Finance Ministers' Meeting which was held in Russia's capital, Moscow.

The meeting included sessions on the global economic outlook and its impact on Asia and the Pacific, and preparations for the final draft of recommendations for the APEC Summit.

QURATUL-AIN BANDIAL


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