APEC Summit 2012: Russia's Pivotal Regional Role K2_FEATURED

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The 24th Asia Pacific Summit (APEC) will be held in Russia's city of Vladivostok in 2012. The summit will be an occasion for the members of the APEC to get know Russia more closely. It will also reassert Russia's pivotal role in the South East Asia (SEA) region.

The APEC Russia 2012 summit will of the annual gathering of APEC leaders, will actually be part of the strengthening of the APEC as regional grouping, said regional experts to Wfol.tv.
'The development of the APEC is a multilateral structure of dialogue on trade, investment, economic and technical regional cooperation.' said Muh'd Isa, Wfol.tv's Malaysia based regional analyst.
M. Isa sadi that the APEC is altogether a well oiled platform which acts as a mechanism of interaction concerning the resolution of critical regional and global problems. He added that while the APEC is the premier forum for facilitating economic growth, cooperation, trade and investment in the Asia-Pacific region, it is also very important for the SEA region.
Other observers in the region agreed that the APEC's meeting in Russia will be a very important one as it will enlarge Russia's regional role. "The APEC's goals forms part of Russia's foreign policies which are based on regional development, resolution of crisis in a peaceful manner and economic cooperation through trade and investment." said another expert.
Russian representatives are very active during intersectoral meetings, workgroups and task teams sessions dedicated to trade, investment, finance, power engineering, transport, SME, science and technology, fishery and agriculture. Russia is also very active during discussions on counter terrorism.
When the leaders from the 21 member economies will meet on Russky Island, off the coast of Vladivostok, Russia in 2012, the focus will be on Russia too. It will be an occasion to look closely at Russia's integration into the rapidly developing Asia Pacific region. Russia will undoubtedly influence - in a positive way - the economies of the APEC member states.
Malaysia will benefit largely from this integration due to the liberalization of trade and economic ties that is made possible by Putrajaya's membership in the APEC. This will have an impact on the furthering of trade and investment between Malaysia and Russia.
Russia being an important integration junction that unites Asia, Europe and America will be a long-range partner for Malaysia. This partnership will be seen more strongly in economics, finance, trade and investment.
In 2011, the APEC has reiterated its pledge to maintain free and open markets and renew its commitment to withdraw existing restrictive measures and resist new protectionism measures as the global economy recovers. APEC should continue to monitor trade and trade-related measures by APEC economies, with the APEC Secretariat to prepare its next review for the AMM in November 2011.

The WTO predicts that global exports will increase 6.5% in 2011, building on the record-breaking 14.5% surge in the volume of exports in 2010. This will be benefitial to APEC in particular even though other parts of the globe faces an economic downturn in the process.
This is where countries like Russia will find their influence enlarged since the current economic growth experienced by Russia will definitely be spilled over in the South East Asia region. "Countries like Malaysia and Indonesia will benefit from investment from Russia while their investment in Russia would definitely reap large benefits for them," said M. Isa.
As of now, APEC has 21 members - Australia; Brunei Darussalam; Canada; Chile; People's Republic of China; Hong Kong, China; Indonesia; Japan; Republic of Korea; Malaysia; Mexico; New Zealand; Papua New Guinea; Peru; The Republic of the Philippines; The Russian Federation; Singapore; Chinese Taipei; Thailand; United States of America; Viet Nam - which account for approximately 41% of the world's population, approximately 55% of world GDP and about 49% of world trade.
In 2004, Russia took the lead in global oil production, leaving behind Saudi Arabia. Additionally, Russia remains a major producer of natural gas and is the largest gas exporter in the world.
Russia is the main source of energy resources in the world – now and, possibly, in the future. Russia can retain its leading positions in the world economy if it continues exporting energy within reasonable limits.
Besides the positive impact on the regional economics, the growing involvement of Russia into the integration processes in the Asia Pacific region will also influence positively on the strengthening of peace and security both on regional and global scale.
This issue is of utmost importance in the light of conflict escalation in the Korean peninsular as well as in the South China sea. As a matter of fact, Russia's role in calming the crisis in the South China sea is an example of the pacifying foreign policy of the huge country. Russia has altogether made headway within the ASEAN movement with its economic (investments altogether) in Vietnam and Cambodia where several industries are showing signs of booming.
The APEC was established in 1989 to enhance economic growth and prosperity for the region and to strengthen the Asia-Pacific community. The summit on Russky Island will see the resort, catering and entertainment facilities, in addition to the renovation and upgrading of Vladivostok International Airport.
The capital of Primorsky Territory - city of Vladivostok - is the largest port of the Russian Federation on the Pacific Ocean. Population of Vladivostok is 630 thousand people. Population of Primorsky Territory is 2 million 100 thousand people. On the area it is comparable to the territory of such states as Greece and Bulgaria.

Official website: http://apec2012.ru

 

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