Experts on upcoming APEC meeting

Added On November 4, 2014

Now, let's focus on the upcoming Asia-Pacific Economic Cooperation (APEC) meeting.
Experts say the APEC meeting in Beijing is expected to produce tangible outcomes and achieve greater regional economic integration.
With the theme of "Shaping the Future through Asia-Pacific Partnership," China has laid out several areas to focus on during this year's APEC gathering, including trade and investment integration, innovation, inclusive growth and connectivity.
Russell Green, professor of Rice University, said the forum has been a useful platform to create good ideas on trade and integration, and it has also been a useful part of the Asia-Pacific region.
SOUNDBITE (ENGLISH): RUSSELL GREEN, Professor of Rice University
"I think from the U.S. perspective, it's really still a very valuable forum, it's the premier forum for discussing economic integration and cooperation in Asia and the Asia Pacific region. And you really see that enthusiasm from senior economic officials who participated on the regular basics in the APEC meetings."
Green also said the meeting will help promote economic and interconnected development of the architecture in the Asia-Pacific region.
SOUNDBITE (ENGLISH): RUSSELL GREEN, Professor of Rice University
"The APEC meetings, the most valuable part of the meetings is offering conversations that happen on the sidelines where the meetings provide a great forum for more relaxed discussion among senior officials on really important topics. It still aline with the core goal of APEC, which is more open, and more free trade and investment. A lot of these conversations are happening on the sidelines that help officials see eye to eye on a way forward to move towards greater economic integration, So those conversations really take place because APEC is here and bring everybody together to focus on these topics."
Wishnu Wardhana, Co-Chairman of APEC Business Advisory Council (ABAC) in Indonesia, agreed with Green.
"First, I think our overall architecture integration is an important factor, the second one is our ability to re-adjust our growth model and undertake structural reforms. And the last one is we must invest on our soft and hard infrastructure, in order for us to be able to continue the growth and expanding connectivity in a very comprehensive way."
Both of them said China has great capacity to potentially help bridge the financing gap in the area.
SOUNDBITE (ENGLISH): RUSSELL GREEN, Professor of Rice University
"China has been part of a bigger phenomenon, which is just the phenomenal growth in Asia in general, phenomenal increase in integration in Asia economy to the rest of the global economy. So if you are representing an economy in North America or South America, APEC has been a great place to take advantage of some of that dynamism that taking place in Asia. So really the dynamic growth of a lot of different APEC economies has helped APEC stay relevant ,in the sense that it has a very dynamic membership that made its agenda relevant even if it's operating in a low key fashion."
"China will continue to play a very important and critical role in many years to come. China will continue as an engine for growth, as well as any initiatives to promote growth, to promote the development, as well as the development through cooperation."
The experts said APEC should continue to bring diverse economies together to deepen economic integration in the region.