2009 APEC Summit

The 2009 Asia-Pacific Economic Cooperation (APEC) Summit was held in Singapore in November 14 to 15, 2009. It marked the first time that Singapore had hosted the summit. The event was attended by 21 member leaders, including US President Barack Obama, Australian Prime Prime Minister Kevin Rudd, Russian Prime Minister Vladimir Putin and Chinese President Hu Jintao, in an effort to discuss economic issues facing the Asia-Pacific region.

The summit was preceded by meetings of ministers from the APEC countries on economic, trade and investment and a retreat of APEC leaders at Pulau Ubin. At the summit, leaders addressed issues such as trade, investment, security, environmental sustainability and human development to formulate strategies for economic growth and development in the region. The summit adopted the Singapore Declaration on APEC 2009: Strengthening the Foundations for Sustainable and Inclusive Growth which outlined specific actions to be taken by members to achieve APECs goals.

The key outcomes of the summit included the establishment of the Innovation Board, an organization that will facilitate the exchange of innovative ideas and best practices; the launch of the Entrepreneurship Training Programme, a scheme to increase entrepreneurship in the region; and commitments by members to reach an agreement on new trade rules by 2010. The APEC Leaders also committed themselves to launching a series of initiatives to strengthen regional economic cooperation and integration.

The 2009 APEC Summit was a success in many ways for Singapore, most notably for its economy. The event provided Singapore with the opportunity to showcase its developments and successes, and to send a positive message of international economic cooperation to the Asia-Pacific region. Singapore also gained geopolitical influence from hosting the summit, and this is expected to translate into heightened diplomatic engagements and a greater voice for the country on the international stage.

The success of the 2009 APEC Summit can be attributed to the determination and organization of both the Singaporean government and people. The government has been very cooperative in hosting the event, making sure that all the necessary resources and support were available to ensure a smooth and successful event. Furthermore, the Singaporean people have been equally cooperative in supporting the event, displaying a great sense of national pride in the lead up to and during the summit.

Overall, the 2009 APEC Summit was a significant event for Singapore, the Asia-Pacific region, and the world as a whole. The commitments and agreements made at the Summit will be beneficial not only to the Asia-Pacific region, but also to other countries who share the same concerns and challenges. With the foundations laid at the Summit, the region can look forward to a brighter future in terms of economic growth, development, and overall stability.

2009 Asia-Pacific Economic Cooperation (APEC) Summit was held from November 14 to November 17 in Singapore under the theme of “Sustaining Growth and Upgrading Economic Resilience”.

It was attended by 21 APEC member economies, including Canada, USA, China, Japan and Australia. Leaders from these countries discussed the global economy and financial developments, and updated the world on their respective economies. The leaders also emphasized on continuing to promote free and open trade and investment, as well as enhancing economic transformation and inclusive economic growth.

An economic recovery was seen to be on the horizon, but leaders warned of the damage done by the global economic and financial crisis, and urged countries to take action to ensure that any recovery was sustainable and inclusive. Leaders agreed to a set of initiatives that were intended to strengthen regional economic resilience and set the region up for sustainable growth in the future.

The initiatives included a reaffirmation of the Bogor Goals by 2020, measures to enhance regional economic integration, a commitment to improving the business climate, and to boosting employment.

The leaders also emphasized the need to strengthen global trade rules, as well as strengthening ties between the APEC members. They discussed the WTO Doha Round of Trade Negotiations, and agreed that a successful conclusion to this round was essential for future economic growth.

Overall, the 2009 APEC Summit provided necessary collaboration between the 21 member states in developing a framework that could be implemented to prevent and mitigate the effects of future economic and financial downturns. The initiatives outlined in the summit would help to provide the stability, resilience and sustainable growth necessary for the continued prosperity of the region.