Leaders from members of Asia-Pacific Economic Cooperation (APEC)
forum and the World Trade Organization (WTO) spoke on achieving
sustainable economic growth and reviving multilateral trade at the
2003 APEC CEO Summit which opened in Bangkok Sunday morning.
In his opening address, Thai Prime Minister Thaksin Shinawatra
stressed the importance of sustainable growth of economy and urged
the private sector to contribute more to the economic
development.
"Growth will be of real benefit only if it is sustainable," he
said.
The theme of this year's CEO Summit is "Purpose - Progress -
Prosperity; Strengthening APEC for Sustainable Growth."
Thaksin said APEC will be "the real engine of stable growth for
the entire region" once it finds the solution to stabilize trade
and investment flows in a manner that is "profitable, secure, and
fair to all."
The Thai prime minister also said the private sector is vital to
the economic development. He called on leaders of the private
sector to work together with governments to realize "our common
aspirations of greater prosperity for all."
Thaksin expressed his belief that the knowledge-based economy
will fulfill the APEC commitment in capacity-building of people,
especially the disadvantaged.
At the same time, he praised the wise choice of "partnership of
strength" made by the APEC leadership to cope with a world of
differences, diversity and increasing interdependence.
Chinese President Hu Jintao told business leaders that China's
reform and opening up and its economic growth present win-win
outcomes and mutual benefit for the whole world.
Answering questions after delivering a keynote speech at the CEO
Summit, Hu said China's opening up has won the country broader room
for development, and has made it possible for China to acquire the
important resources of capital, technology and managerial
expertise.
"China will continue to take an active part in global and
regional economic cooperation, faithfully play by WTO rules and
live up to our WTO commitment," the Chinese president said.
Hu's speech covered the valuation of the Chinese currency
Renminbi (yuan), the situation of China's economic growth, economic
and technical cooperation among APEC members, and reviving the
stalled multilateral talks of the Doha Round under the World Trade
Organization.
Hu stressed that a stable Renminbi yuan serves the sound
operation of China's economy and conforms to the requirements for
economic development in Asia and the whole world.
He said China would maintain the basic stability of the Chinese
currency at a reasonable and balanced level, and take further steps
to improve the rate-forming mechanism of RMB amid deepened
financial reform.
On China's economic performance, Hu said the country's target of
a 7 percent GDP growth set for this year "is well within reach."
"China's economy remains in good shape with a strong momentum for
expansion," he added.
The Chinese president, who will attend the 11th APEC Economic
Leaders' Meeting Monday and Tuesday, urged member economies of APEC
to strengthen their economic and technical cooperation to help turn
potential markets into real ones.
Hu said that APEC can play a positive role in restarting the
stalled multilateral trade talks of the Doha Round by keeping the
forum's Bogor Goals of realizing free and open trade between its
developed economies by 2010 and its developing members by 2020.
(Xinhua News Agency October 20, 2003)