The APEC summit is currently underway in the Philippine capital bringing together 21 Pacific Rim member economies.
“When there are significant movements in global economy, we need to revisit our policies to remain competitive,” Philippine President Benigno Aquino said at the opening of the plenary session of the APEC leaders.
Majority of APEC leaders are present at the summit, including US President Barack Obama, Chinese President Xi Jinping and Japanese Prime Minister Shinzo Abe. Russia and Indonesia are represented by the prime minister and vice president correspondingly.
According to the Philippine president, the APEC member states will also discuss regional economy growth through services, infrastructure finance, as well as growth of micro to medium enterprises and promotion of sustainable development.
