Apec Leaders Meeting concludes with final declaration
By Liza Mohd in Lima, Peru

The 16th Asia Pacific Economic Cooperation (Apec) Leaders Meeting concluded yesterday with the adoption of the final declaration to focus on the global financial turmoil.

During the meeting, His Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam joined other leaders from 21-member economies to discuss crucial issues for the region's economic and social development.

The declaration addressed 12 issues such as financial crisis, trade liberalisation, regional cooperation and the fight against terrorism and corruption.

The final declaration of this meeting was agreed by ministers and senior officials from the 21-member economies.

On Sunday morning, His Majesty joined Apec leaders in attending the Second Leaders Retreat to adopt the 12-point final declaration.

As the host of the 2008 Apec Summit, Peruvian President Alan García Pérez opened the meeting by welcoming the leaders.

Topics addressed by the leaders included Food Security, Trade and Investment Liberalisation and Facilitation, Corporate Social Responsibility, Anti-Corruption and Transparency and support for the Doha Round.

Regional Economic Integration, Human Security, Apec Reform, Climate Change, Economic and Technical Cooperation, Structural Reform and Global Economic Issues were also included in the final declaration.

Following the Apec Summit Retreat, leaders posed for the official group photo at the courtyard of Peru's Ministry of Defence.

During the first retreat on Saturday, His Majesty and other Apec leaders promised to support the agreement, reached by leaders of the G-20 countries, to tackle the financial crisis.

In a joint statement issued on Saturday during the Apec leaders' meeting in the Peruvian capital, the leaders said they "welcome the Washington Declaration of the leaders of the Group of 20 at their summit on financial markets and the world economy and strongly supported the common principles that will guide the Action Plan for financial markets reform".

His Majesty also attended a dialogue with the Apec Business Advisory Council, Abac where representatives recommended strategies to improve the business environment in the Asia-Pacific region and promote liberalisation and facilitation of trade and investment at a regional level.

The Apec-Abac private meeting was attended by the forum's 21 leaders and three private sector representatives from each of the 21-member economies, appointed directly by each Apec leader. - Borneo Bulletin (25th Nov 2008)