NEW YORK, December 4, 2008 - In the face of global economic
collapse, the leading Asia-Pacific business and trade organization came
out squarely in favor of free trade and increased investment. Such was
the consensus arrived at by 21 leaders who convened at the 2008 APEC
Summit, hosted in Lima from November 20 through 23 by Peru's President
Alan Garcia.

In a panel discussion at the Asia Society, the American Senior Official for APEC, Ambassador Patricia M. Haslach; Assistant United States Trade Representative Wendy Cutler; and Mitchell Lee, Singapore's Consul in New York, reviewed the issues and outcomes that dominated APEC's 2008 Summit agenda. Monica Whaley, executive director of the National Center of APEC (Asia-Pacific Economic Cooperation), moderated the conversation.

With the current economic turmoil on everyone's mind, Haslach
recounted how participants in the 2008 APEC Summit resolved upon
promoting greater regional economic integration and sustainable
development as part of a unified response to the current worldwide
financial crisis. Haslach then outlined some of the concrete steps APEC
vowed to take in order to combat the crisis, such as tackling the
volatile food prices and food security issues that have recently
bedeviled the Asia-Pacific region.

Panelist Lee later offered some early hints of the goals Singapore will bring to APEC in 2009, when it hosts the Summit.

Excerpt: Patricia Haslach: APEC's leadership
rejects protectionism and new trade barriers as a response to the
financial crisis (1 min., 25 sec.)

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Listen to the complete program (1 hr., 16 min.) 

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