APEC Leaders' Summit To Focus On Security, Trade Threats To Prosperity

Bangkok - A Pacific Rim summit in the Thai capital will be dominated by the spectres of terrorism and stalled world trade talks, both issues which threaten the 21 member nations' economies.

The Asia Pacific Economic Cooperation (APEC) leaders will also tackle the crisis over North Korea 's nuclear program and hear a United States push for China to unshackle its currency from the dollar.

US President George W. Bush said for the first time Sunday that he would explore ways of satisfying Pyongyang's demand for security assurances, but ruled out a bilateral accord.

"Perhaps there are other ways we can look at to say exactly what I've said publicly on paper with our partners' consent," said Bush, who discussed the issue with China's President Hu Jintao Sunday.

Bush and Hu also agreed to appoint experts to a new panel designed to study how Beijing could move more rapidly towards letting markets set the yuan's value, a senior US official said.

United States' business groups complain that the yuan is vastly undervalued, giving Chinese exporters an unfair advantage and costing the US jobs and exports -- a headache for Bush as he begins his re-election campaign.

The US leader, who is on a six-nation Asian tour to shore up support for the Iraq (news - web sites) war and the battle against terrorism, is expected to ensure security issues top the agenda at the two-day APEC summit that begins Monday with a 75-minute informal summit at Government House, although not all member nations are happy at the way trade is being sidelined.

"APEC was formed as an economic cooperation group. But we don't agree with taking away economic matters into security, military or politics, which are not really for APEC," outspoken Malaysian Prime Minister Mahathir Mohamad said.

Bush has said that new audiotaped threats from Osama bin Laden against the United States and its allies highlighted the need for the region to unite against extremism.

"It's something I'll discuss with other leaders here at APEC. This is still a dangerous world," he said.

APEC foreign and trade ministers meeting here last week rammed home the message that a poor security situation imperilled the economies of the group's members, which account for some 60 percent of the world's economic output.

US Secretary of State Colin Powell told his counterparts that "security and economics are inseparable" and that "we must also be prepared to secure our people and economies from new threats as they arise," his spokesman said.

APEC leaders are also expected to agree that the collapse of global trade negotiations last month in Cancun, Mexico, represents another grave threat to the region's prosperity, and resolve to support their resumption.

World Trade Organisation (WTO) chief Supachai Panichpakdi warned Sunday that a total collapse of current global talks to free trade could force recession and a proliferation of conflicts.

Despite the long list of pressing economic issues to be discussed in Bangkok, the summit which in past years has been hijacked by political issues again looks likely to again be distracted by diplomatic rows.

Bush has signalled he will administer a tongue-lashing to the military junta in Myanmar over house arrest restrictions against democracy leader Aung San Suu Kyi and its failure to introduce democratic reforms.

The White House also indicated that Bush will publicly condemn Malaysian premier Mahathir Mohamad's widely denounced remarks about Jewish influence, after he told an Islamic conference that they "rule the world".

"It's not the first time he's made outrageous comments. Those were hate-filled remarks," Bush spokesman Scott McClellan said.

After the retreat, the 21 leaders will attend a gala dinner followed by a glittering procession of royal barges along Bangkok's Chao Phraya River.

The following day, they will hold a second retreat in one of Thailand's most opulent historic buildings, the lavish and rarely-used Ananta Samakhom Throne Hall.

After a year of deadly terrorist attacks in Asia, including the Bali nightclub bombings which killed more than 202 people and the attack on the JW Marriott hotel in Jakarta in August, security in Bangkok is extremely tight.

A force of 20,000 Thai police and armed soldiers, backed by thousands more foreign secret service agents, are guarding leaders including Russian President Vladimir Putin and Japan's premier Junichiro Koizumi. -- AFP News

Related Stories: Brunei Ruler In Bangkok For APEC Meeting | Brunei Ruler Leaves For Bangkok For APEC Summit | Thai Deputy Prime Minister Meets His Majesty At Airport

Related Info: APEC Special Report | APEC Bangkok 2003

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