Hu raises 4-point proposal for APEC cooperation

Chinese President Hu Jintao Sunday put forward a four-point proposal, including trade and investment liberalization and food security cooperation, for deepening APEC cooperation in the priority areas this year.

Hu made the proposition at a keynote speech on the second day of the 20th informal economic leaders' meeting of APEC held here.

"First, we should focus on the priority areas and deepen trade and investment liberalization and regional economic integration," Hu said.

Trade and investment liberalization and regional economic integration are the core agenda items for APEC, he said.

APEC members should follow the spirit of the Bogor Goals and move forward trade and investment liberalization and facilitation with the Bogor Goals at its core, he added.

"At the same time, we may study and discuss 'next-generation' trade and investment issues in areas where APEC members have consensus, willingness and a foundation to build upon," he stressed.

"Second, we should lay a solid foundation and step up food security cooperation," the Chinese president said.

Food security is essential not only to a country's economy and people's livelihood, but also to the development and security of mankind, he said.

APEC members should scale up input and encourage investment in agriculture, enhance agricultural productivity and increase grain output, he said.

"We should strengthen the development of food markets infrastructure, put in place a modern grain logistics system, and reduce post-harvest losses along the entire food supply chain including storage, transportation and consumption," he added.

"Third, we should break bottlenecks and establish reliable supply chains," Hu said.

Building reliable supply chains in Asia Pacific is of special significance to raising the level of trade facilitation, developing a closely connected regional economy and enhancing the competitiveness of the region, he said.

APEC members need to continue to scale up investment in infrastructure, enhance connectivity and network building in the region and make supply chains smarter, he added.

They need to further facilitate customs clearance and reduce the time and cost of commodity flow, he said.

"Fourth, we should open our mind and intensify cooperation to foster innovative growth," the president said.

Innovation is an important pillar underpinning the efforts of APEC members to shift the growth model and improve the quality of economic development, he said.

"We need to foster an innovation-friendly environment, strengthen policies in support of scientific and technological innovation and bring into full play the innovation enthusiasm and creativity of the whole society, particularly scientists and engineers," he said.

APEC members need to increase investment in research and development, enhance the training and mobility of innovative and high-skilled personnel, give human and technological support to economic development, and translate scientific achievements into real productivity, he emphasized.

The leaders issued a joint declaration on Sunday, outlining the future development of the region.

The APEC informal economic leaders' meeting next year will be held in Indonesia.