Reporter: Barratut Taqiyyah | Editor: Barratut Taqiyyah Rafie
JAKARTA. President Susilo Bambang Yudhoyono, on Monday, opened the Asia-Pacific Economic Cooperation (APEC) Summit in Nusa Dua, Bali, by highlighting APEC’s integral role in the current global economic environment.
In his opening remarks, Yudhoyono highlighted the importance of APEC’s role in the future amid further economic turbulence.
“The role of APEC is getting more important. Apart from its crucial role in Asia’s economic recovery, APEC economies continue to become the guard of global growth,” said Yudhoyono as quoted by Antara news agency.
Citing International Monetary Fund (IMF) data, the President said economic growth in the APEC region was estimated to reach 6.3 percent in 2013, and in 2014, it was predicted to reach 6.6 percent.
APEC is an economic cooperation forum composed of 21 world economies in the Asia-Pacific region. Established in 1989, APEC is aimed at promoting free trade and economic cooperation in the region.
It is the second time Indonesia has hosted the summit. Previously, it was held in Bogor, West Java, in 1994.
APEC economic leaders started the first session soon after Russian President Vladimir Putin arrived in Nusa Dua, Bali. (The Jakarta Post)
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