APEC Summit opens in Russia

A concluding senior officials’ meeting opened on Sunday the 2012 Asia-Pacific Economic Cooperation (APEC) summit. The APEC summit is taking place on the Russky Island in the city of Vladivostok in Russia’s Primorye Region on September 2 to 9, (RIA Novosti) reported. “I’m really pleased to welcome you to this beautiful city of Vladivostok. We are now at Russky Island where our Leaders will get together in just less than one week,” Igor Morgulov, a Russian deputy foreign minister, said opening the meeting. This is the first time Russia, an APEC member since 1998, is hosting the summit of the group, created in 1989 to promote economic cooperation among the countries and regions – such as Taipei and Hong Kong – of the Pacific Rim. APEC senior officials at their meeting on Sunday will discuss final recommendations for economic forum leaders that will be presented to them on September 8-9, 2012, according to (Itar-Tass). Under discussion will be trade and investment liberalization, regional economic integration, food security strengthening, formation of reliable transport and logistic chains and intensive cooperation to ensure innovation growth.