The 12th Economic Leaders' Meeting of the Asia-Pacific Economic Cooperation (APEC) forum opened in Santiago Saturday to discuss security and economic issues in the region.

Under this year's theme of "One Community, Our Future," top leaders from 21 member economies will mainly discuss APEC's role in promoting multilateral trade and the institutionalization of free trade agreements, as well as related security issues during their two-day gathering.

 

Chilean President Ricardo Lagos, who presides over the meeting, greeted the leaders at the gate of the "Espacio Riesco" Convention Center.

 

Saturday's meeting began with a private dialogue session called Retreat, which focused on human security matters, especially the prevention of infectious diseases such as AIDS, APEC said in a website press release.

 

The closed-door session was followed by a dialogue between APEC economic leaders and the APEC Business Advisory Council (ABAC), which urged the leaders to "creatively and vigorously seek an early conclusion" of the Doha Development Agenda (DDA) talks launched three years ago in Doha, Qatar.

 

"There is no other issue with such overarching importance to business, across the APEC region or globally," ABAC Chair Hernan Somerville was quoted by an ABAC press release as saying.

 

The ABAC said in a previously submitted annual recommendation report that they believe a rapid and successful conclusion of the DDA talks is the top priority for the regional economy.

 

The DDA talks to create a binding trade treaty for the 147-member WTO faltered last year amid bickering over agricultural subsidies. But they gained ground this year after negotiators reached a deal on a framework that could lead to a deal.

 

The ABAC also urged leaders to take effective measures to fight corruption and to reinvigorate APEC's liberalization and facilitation agenda.

 

President Lagos expressed interests in ABAC's proposals, saying that they will make an important contribution to the APEC process.

 

The ongoing leaders' meeting is the culmination of the week-long APEC meetings, which also include the senior officials meeting and the ministerial meeting.

 

A series of bilateral meetings between the world's key leaders were also planned on the sidelines of the meeting.

 

The leaders will start their second-day session on Sunday by posing for an official photograph in Chile's traditional garments of "Chamantos."

 

They will then devote the whole morning to discuss regional economic matters and issue a declaration after the meeting, said the APEC press release.

 

APEC, as the premier forum for facilitating economic growth, cooperation, trade and investment in the Asia-Pacific region, was set up in 1989 to further enhance economic growth and prosperity in the region and to strengthen the Asia-Pacific community.

 

It now groups Australia, Brunei, Canada, Chile, China, China's Hong Kong, Indonesia, Japan, South Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, Russia, Singapore, Chinese Taipei, Thailand, the Philippines, the United States and Vietnam.

 

(Xinhua News Agency November 21, 2004)