President Benigno Aquino III is in Japan to strengthen ties with other leaders for the Asia-Pacific Economic Cooperation (APEC) meeting and aim for cooperation on significant issues such as human resource development, climate change and stability of foreign exchange market.
APEC leaders will discuss the Bogor Goals of free trade and socioeconomic strategy based on a balanced, inclusive, sustainable and knowledge-based growth, and cooperation on human security.
The APEC is a forum for 21 Pacific Rim economies that seeks to promote free trade and economic cooperation throughout the Asia-Pacific region. APEC members account for approximately 40 percent of the world’s population, approximately 54 percent of world gross domestic product and about 44 percent of world trade.
Mr. Aquino had said he expects an exchange of ideas on stabilizing the value of currencies in the region, including the Philippine peso, due to the weakening of the US dollar.
The Japan visit is President Aquino’s third foreign sortie after attending the Association of Southeast Asian Nations meeting in Hanoi last month and the United Nations General Assembly in New York last September. (PIA)