(15 Nov 2009)
1. Wide shot US President Barack Obama exiting limousine and being greeted by Singapore Prime Minister Lee Hsien Loong
2. Mid shot of Lee and Obama seated; pull to wide shot
3. Mid shot of Lee and Obama seated
4. Wide shot Obama and ASEAN (Association of South East Asian Nations) leaders joining hands
5. Mid shot Obama; pull out to wide shot roundtable
6. Medium shot Obama and Lee at roundtable
7. Wide shot roundtable
STORYLINE:
Stimulus spending and other emergency measures have set the stage for global economic recovery, but nations must push ahead with free trade and investment to ensure growth, US President Barack Obama and fellow leaders said in Singapore on Sunday.
Obama and 20 other leaders, meeting for the annual Asia-Pacific Economic Cooperation (APEC) forum, rejected protectionism and agreed to develop long-term strategies that take into account the diverse needs of economies in a region stretching from Chile to China.
Recovery is not yet on solid footing and the region "cannot go back to growth as usual," a joint statement by the ASEAN leaders said in Singapore on Sunday.
To that end, ASEAN members pledged to maintain economic stimulus policies until a durable recovery has clearly taken hold.
Nations must work toward "strong, sustainable and balanced global economic growth" with policies that expand opportunities for all, including women and small business owners; take better care of the environment; and promote development while reducing poverty and ensuring security, the statement said.
There was no mention of currency rates in the final statement, despite finance ministers' calls for maintaining "market-oriented exchange rates."
That was a reference to the Chinese currency, the yuan, which critics say is kept artificially undervalued, making exports of other countries less competitive.
A push for concrete goals for reductions of greenhouse gas emissions was omitted from the statement.
A previous draft had pledged a 50 percent reduction from 1990 levels by 2050, but the final communique committed only to working toward "an ambitious outcome" at climate talks in Copenhagen, Denmark, next month.
Obama and other world leaders agreed on Sunday that the Copenhagen summit will be merely a way station, not the once hoped-for endpoint in the drive for a new global climate-change treaty.
APEC, which accounts for 40 percent of the world's population and 54 percent of global output, was created 20 years ago to promote trade and integration among Pacific Rim nations.
Pledges are nonbinding, and the forum's scope has expanded to encompass issues such as climate change, energy and food security, and politics.
One key APEC goal is the creation of a free-trade area covering all 21 APEC economies - an ambition that many acknowledge is years away.
Find out more about AP Archive: [ Ссылка ]
Twitter: [ Ссылка ]
Facebook: [ Ссылка ]
Instagram: [ Ссылка ]
You can license this story through AP Archive: [ Ссылка ]
