MOSCOW, November 6 (RIA Novosti) — The Asia-Pacific Economic Cooperation (APEC) forum represents a unique mechanism, for international cooperation at a time of widespread political and economic pressure, Russian President Vladimir Putin told the Chinese media on Thursday.
"Under the current conditions, when some countries prefer to act on the international arena using the methods of political, economic and often even coercive pressure the role of APEC as an effective coordinating mechanism for building a new regional architecture is indispensable," the Russian leader said.
"The APEC progressive development during a quarter of a century has persuasively demonstrated the relevance of this authoritative association format, a platform to agree upon common "rules of the game" in the trade and economic sphere in the APR [Asia-Pacific Region]," Putin added.
He further highlighted that decisions reached within the APEC framework are adopted with the mutual respect and consideration all involved parties' interests.
The APEC forum of 21 Pacific Rim economies seeks to facilitate economic growth, cooperation, trade and investment in the Asia-Pacific region. The 26th summit began in Beijing on November 5 and will last until November 11.
According to the forum's website, APEC member nations, Russia, China, the United States and Japan, account for approximately 40 percent of the world's population, approximately 55 percent of global gross domestic product and about 44 percent of world trade.
