SINGAPORE: APEC pledges to conclude Doha talks by 2010 but retreats from carbon emission targets

Record ID: 590862

  • Title: SINGAPORE: APEC pledges to conclude Doha talks by 2010 but retreats from carbon emission targets
  • Date: 16th November 2009
  • Summary: SINGAPORE (NOVEMBER 15, 2009) (REUTERS) (BEWARE FLASH PHOTOGRAPHY) VARIOUS OF APEC LEADERS ENTERING HALL
  • Embargoed: 1st December 2009 12:00
  • Keywords:
  • Location: Singapore
  • Country: Singapore
  • Topics: International Relations
  • Reuters ID: LVA9WWDQYPEUSEK1GA4QNMX2LW6W
  • Story Text: Leaders ended the Asia Pacific Economic Cooperation (APEC) summit on Sunday (November 15), pledging to conclude the Doha global trade talks in 2010 and to reject protectionism, but dropped earlier draft references to supporting a global halving of greenhouse emissions by 2050 and endorsing "market-oriented exchange rates".
    "We will seek to conclude the Doha round in 2010, and reject all forms of protectionism. Free trade and open markets are key for the continued prosperity of the Asia-Pacific economies. APEC remains unwavering in its resolve to achieve the Bogor goals of free and open trade and investment," said host leader, Singapore Prime Minister Lee Hsien Loong.
    The Doha round of world trade talks was launched eight years ago with the goal of helping poor countries prosper through trade.
    "To achieve sustainable growth, we will work towards an ambitious outcome in Copenhagen and ensure that efforts to mitigate climate change are consistent with our international obligations," he read.
    Earlier in the day over an informal breakfast meeting, the leaders backed delaying a final climate deal.
    A U.S. official who was in the meeting said it was unlikely that next month's Copenhagen talks would clinch a legally binding deal.
    APEC's stance is more significant because its 21 members account for some 60 percent of mankind's greenhouse gas pollution.
    The United States and Japan agreed on Friday (November 13) they would aim to reduce their own greenhouse gas emissions by 80 percent by 2050 and back a global goal to halve emissions by mid-century.
    The final APEC leaders' declaration also said the 21-member economies that include the United States, Japan and China will maintain stimulus policies until a durable recovery has clearly taken hold.
    "We will pursue growth which is balanced, inclusive and sustainable to ensure a durable recovery that will create jobs and benefit our people," Lee read.
    The leaders' statement also said that APEC countries would undertake policies to prevent credit and asset bubbles.
    "We will take a comprehensive approach to economic integration that will combine trade liberalisation at the border, improving the business environment behind the border, and enhancing supply chain connectivity across the border." Lee read.
    President Barack Obama, who missed the first day of leaders' meetings, skipped the declaration ceremony.
    He attended meetings earlier on Sunday, saying failure to correct imbalanced growth will lead to further crisis.
    The leaders attended a lunch banquet after the closing ceremony, and some continued on with bilateral meetings.
    Obama was set to meet with the members of the Association of Southeast Asian Nations.
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