Vladivostok, Russia - With the climax or the Asia-Pacific Economic Cooperation (APEC) fast approaching, leaders from across the globe have begun their descent to Vladivostok, Russia with His Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam expected to arrive in the eastern part of the federation this morning.
The monarch will be among the 21 APEC Leaders who will take part in the forum as of tomorrow afternoon until Sunday where, as part of the programme, they will also meet with members of the APEC Business Advisory Council to discuss the region's economic future.
A total of four main points have become the focus for Russia during its chairmanship of APEC as part of its efforts to address among the most pressing global and regional problems, which will include trade and investment liberalisation for regional economic integration, strengthening of food security, establishment of reliable supply chains as well as intensive cooperation to foster innovative growth.
Brunei Darussalam became among the first member economy to be a part of APEC along with 11 other founding countries, followed by another 10 nations dotting the Pacific Rim with the latest member being drafted in 1998.
An event that was hosted by the Abode of Peace 12 years ago in 2000, which had impressed allies, APEC was first initiated by Australia and was established as a free consultative forum without a rigid institutional structure or large bureaucracy.
Making up 57 per cent of the world's Gross Domestic Product with 40 per cent of the world's population, 48 per cent of international trade and over 40 per cent of direct foreign investment, the Asia-Pacific has become one of the most valued regions in the world.
An article published in the Asian edition of the Wall Street Journal quoted Russian President Vladimir Putin as saying, "Russia has long been an intrisic part of the Asia-Pacific Region.
"We view this dynamic region as the most important factor for the successful future of the whole country as well as the development of Siberia and the Far East.
"We expect that the upcoming Vladivostok summit will once again demonstrate to the world that Russia is a nation of broad opportunities and ready to join forces with our neighbours to advance our common creative goals."--Courtesy of Borneo Bulletin