The two-day Ministerial Meeting of the Asia-Pacific Economic Cooperation (APEC) forum wrapped up on Thursday, with the ministers issuing a joint statement over regional development.

Under the theme of "Integrate to Grow, Innovate to Prosper," participating ministers exchanged views over several issues, including food security, the multilateral trading system, liberalization of trade and investment and regional economic integration.

They agreed that the APEC region would continue to serve as a major engine for the world economy and a key driver for international trade and investment.

The ministers also highlighted policy initiatives based on the assessment of progress achieved so far this year against the bloc's yearly priorities.

The policy initiatives included facilitating trade and investment liberalization and regional economic integration, strengthening food security, establishing reliable supply chains, and intensifying cooperation to foster innovative growth.

Meanwhile, the APEC ministers and their deputies attached importance to strengthening APEC as an institution with further capacity building, private sector involvement and operational activities.

They also hailed the preparation by Indonesia for hosting the 2013 APEC annual economic leaders' meeting and welcomed the announcements by China, the Philippines and Peru that they would host the APEC annual economic leaders' meetings respectively in 2014, 2015 and 2016.

The meeting was co-chaired by Russian Foreign Minister Sergei Lavrov and Russian Economy Minister Andrey Belousov.

After the meeting, Belousov told a joint briefing that the ministers also agreed to present a list of 54 items of goods for tariff reduction to the upcoming APEC informal economic leaders' meeting for approval.

The goods were not green goods themselves but goods that were instrumental to helping improve environmental protection, he said.

The Russian host highlighted efforts of the APEC member economies in reducing trade tariffs for goods which help the environment, describing the agreed list as a "substantial" progress.

Lavrov also highly valued the results of the meeting, saying that "everyone believes that we managed to preserve continuity in APEC's work and at the same time give additional impetus to that work."

"I'm convinced that full integration efforts in the Eurasian, Asia-Pacific space will be beneficial for those regions," he said.

Chinese Assistant Foreign Minister Ma Zhaoxu and Assistant Commerce Minister Yu Jianhua attended the meeting.

Ma told the Chinese media on Thursday that the ministerial meeting has reached agreement on a number of issues that focus on harmonious development and innovative growth.

China has attached great importance to APEC cooperation and has been active in APEC activities, Ma said.

China is willing to host the 2014 APEC meeting as an opportunity to deepen cooperation with other member economies and contribute more to regional development, Ma said.

The decision will be officially announced by Chinese President Hu Jintao, who will deliver a keynote speech at the APEC economic leaders' meeting and exchange views with regional leaders during his stay in Vladivostok in Russia's Far East.

On Wednesday, Yu told reporters that China opposes protectionism, stressing that negotiations over trade facilitation should reflect the interests of developing economies.

As a strong advocate for a multilateral trading system, APEC should continue to make the trading system even more dynamic, Yu said.

The ministerial meeting was expected to make final preparations for the informal APEC leaders' meeting at the weekend.