APEC delegates upbeat and hopeful about future, says George Yeo
By Imelda Saad, Channel NewsAsia | Posted: 23 November 2009 1645 hrs

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SINGAPORE: Delegates of the recently concluded Asia-Pacific Economic Cooperation (APEC) meetings in Singapore are upbeat about the future of the region.

Singapore's Foreign Affairs Minister, George Yeo, said in Parliament on Monday that many delegates who attended the summit believe this will be an "Asia Pacific century".

The series of APEC meetings this year took place at a critical juncture, with much of the world's economies still struggling to recover from the recent global financial meltdown.

However, as the meetings culminated to the leader's summit in November, the mood among delegates also reflected the gradual turnaround in the global economy.

Mr Yeo said the overall mood at APEC was positive and upbeat, with leaders agreeing on broad fundamentals of the group's goal of balanced, inclusive and sustained growth.

The full turnout of APEC leaders, including newly minted US President Barack Obama, underscored the importance that leaders placed on APEC.

This year's summit also managed to set key targets such as making doing business in the region easier, and cheaper by 25 per cent by 2015.

In Parliament, some Members of Parliament (MPs) questioned the non-binding process of APEC and its ability to produce real results.

Mr Yeo noted that the non-binding process is precisely what prompts leaders to be more candid in talks and open to new ideas. He also said Asia Pacific leaders have struck a good balance over the years, using peer pressure to keep members in check.

"APEC provides, as it were, general goal setting for the entire region," explained Mr Yeo. "It's only 21 economies, but it's more than half the world's economy and half the world's global trade and it's by far the faster growing half of the world.

"(APEC leaders are) full of hope, full of optimism about the future. (We) learn from one another, keep the lines of trade and the lines of communication open. And within this framework if there are specific agreements that we can enter in a binding way, let us do so because they are mutually beneficial."

On security deployment during the meetings, Parliament heard that on average, 1,300 police officers were deployed each day. This comprised some 950 regular officers and about 300 police national servicemen.

Some Singapore Armed Forces officers were also deployed during the leaders week.

"Unlike some previous APEC meetings in other countries, Singapore's APEC meetings went on peacefully without security problems, mass protest and law and order problems and this was achieved without having to shut down the city centre or declare a public holiday," said Home Affairs Minister Wong Kan Seng.

The House also paid tribute to the volunteers and people who tirelessly worked behind the scenes to make APEC a success. Mr Yeo said Prime Minister Lee Hsien Loong will host a reception to thank all those who participated.

- CNA/yb