《ASIAPACIFIC ECONOMIC COOPERATION》.docVIP

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《ASIAPACIFIC ECONOMIC COOPERATION》.doc

ASIAPACIFIC ECONOMIC COOPERATION MINISTERIAL MEETING Seoul, 1214 November 1991 JOINT STATEMENT 1. Ministers from Australia, Brunei Darussalam, Canada, Peoples Republic of China, Hong Kong, Indonesia, Japan, Republic of Korea, Malaysia, New Zealand, the Philippines, Singapore, Chinese Taipei, Thailand, and the United States met in Seoul from 1214 November 1991 to continue their discussion on the process of AsiaPacific Economic Cooperation (APEC). The ASEAN Secretariat, the Pacific Economic Cooperation Conference (PECC) and the South Pacific Forum (SPF) were present as observers. A complete list of Ministers and observers in attendance at the Meeting is attached (Annex A). 2. The Meeting was cochaired by Mr. Lee Sang-Ock, Minister of Foreign Affairs, and Dr. BongSuh Lee, Minister of Trade and Industry, of the Republic of Korea. 3. Ministers thanked H.E. Roh Tae Woo, President of the Republic of Korea, for his keynote address in which he emphasised that: APEC, whose fifteen economies are producing one half of the global output, has reached a stage where an institutional base should be established in order to represent the common economic interests of the region and to promote intraregional trade and economic cooperation; APEC should set an example of open regionalism under the principles of free trade thereby complementing and strengthening the multilateral free trade system; and APEC, as a regionwide framework for cooperation, should play a central role in promoting a harmonious and balanced development of the transPacific relations by embracing subregional economic groups within the AsiaPacific region. 4. Following the agreement at the Singapore Ministerial Meeting, the Republic of Korea, in its capacity as Chair of APEC, conducted consultations with the Peoples Republic of China, Hong Kong and Chinese Taipei, and reached an agreement enabling them to participate in APEC at the same time. Ministers approved the recommendation of Senio

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