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APEC States to Seek Balanced Regional Growth
Source: radioaustralianews.net.au
Source Date: Sunday, November 07, 2010
Created: Nov 08, 2010

Finance ministers from the 21-member Asia Pacific Economic Cooperation bloc have issued a statement saying they'll work towards more balanced growth in the region.

In a statement issued at the APEC ministerial talks underway in Japan, the ministers also agreed to avoid competitive devaluation of currencies.

The bloc says the global economy is continuing to recover, but that uncertainty remains - and that large volumes of capital flowing into the region could lead to greater volatility and higher asset prices.

The grouping reiterated its commitment to maintaining open markets and "fighting protectionism", and said it would work towards cultivating more balanced growth in the region.

The group said it would "pursue the full range of policies conducive to reducing excessive imbalances and maintaining current account imbalances at sustainable levels".
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