LIMA, Nov. 20 (Agencies) – Ministers from the 21 economies that make up the Asia-Pacific Economic Cooperation (APEC) have held their first meeting in Lima.
The meeting took place ahead of the weekend summit in Lima, Peru.
Twelve issues are to be discussed at the summit, including the state of the global economy, support for the World Trade Organization, regional economic integration, corporate social responsibility, trade liberalization and fight against corruption.
APEC refers to itself as having 21 member economies rather than member countries because it includes the Chinese territory of Hong Kong and also Taiwan, which China sees as its breakaway province.
The group's 19 other members are Australia, Brunei, Canada, Chile, China, Indonesia, Japan, South Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, Thailand, the United States and Vietnam.
The Asia-Pacific region represents an estimated 49 percent of world trade and 55 percent of the global gross domestic product, according to APEC. The organization stresses a clear "commitment to open trade, investment and economic reform."
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