APEC finance ministers call for international cooperation, free trade to combat slowdown
Finance ministers from 21 Pacific Rim countries have committed to free trade and international cooperation to combat the global economic slowdown at their annual Asia-Pacific Economic Cooperation meeting held in Trujillo, Peru, the Associated Press reported.
The ministers have warned that "the focus of global financial market risk" appears to have shifted from the
seizure of credit markets to a generalized economic slowdown.
China's Vice Finance Minister Li Yong said Thursday that his country will step up cooperation with other countries and international financial institutions.
In a joint statement issued at the close of the two-day forum, the ministers called for a "prompt" and
"ambitious" conclusion to the World Trade Organization's Doha round of global trade talks.