APEC needs to play more active role going forward: PM Lee
By May Wong, Channel NewsAsia | Posted: 16 November 2009 0029 hrs

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SINGAPORE : Singapore Prime Minister Lee Hsien Loong has said APEC needs to play a more active role going forward.

Mr Lee, who is also the chair of the APEC Economic Leaders Meeting, said it is also timely to do so as the organisation marks its 20th anniversary this year.

He was speaking at a news conference on Sunday.

Mr Lee said it is also important for the economies to rededicate themselves to APEC, which has helped the Asia-Pacific region integrate and prosper.

However, he added that APEC needs to contribute solutions and to articulate the Asia-Pacific perspective on global economic issues to the rest of the world.

Mr Lee said the leaders also agreed to align the APEC and G-20 growth agendas more closely. This will help to support and build on each grouping's strengths and initiatives.

When asked if any concrete initiatives can be expected after this APEC meeting, Dr Aekapol Chongvilaivan, fellow, Regional Economic Studies, Institute of Southeast Asian Studies, said: "We would not expect concrete results, but we cannot deny that APEC has no role in terms of pushing forward free trade in the Asia-Pacific region.

"I think it is not very correct to impose a time deadline when APEC will produce concrete results. But I will say that APEC is a very important platform for the region, in terms of economic collaboration and discussing current issues."

Meanwhile, when asked whether the momentum of talks and commitments established here in APEC will be sustainable going into future meetings in Japan next year and the US in 2011, Ernie Bower, Southeast Asia Programme Director, Center for Strategic and International Studies in the US, said: "I think there will be a sustained momentum.

"One cannot underestimate the importance of leaders knowing one another and I think (US President) Obama in particular has invested in this politics of personal relationships.

"I think it is very smart. Asia really runs this way. You know people, you have a good relationship. You know their family, you do business together, you do deals... That momentum will be carried into Japan in 2010 and by the time this group of leaders get together in 2011, we should really be able to harvest some deals from the momentum created in Singapore."

The APEC meeting will move to Yokohama in Japan next year, and come 2011, the US will host the meeting in Hawaii. Experts said it will be key to see how open and free Asia-Pacific trade will become by then. - CNA/ms