Leaders of 21 economies will meet here this weekend for their annual Asia-Pacific Economic Cooperation (APEC) forum, with topics on green growth, regional economic integration and trade facilitation through improving regulatory coherence expected to top the agenda.
Themed "Toward a Seamless Regional Economy," the upcoming Hawaii APEC has three specific priority areas including strengthening regional economic integration and expanding trade, promoting green growth, and advancing regulatory coherence and cooperation.
Jeffrey Schott, a trade policy expert at the Peterson Institute for International Economics, a Washington think-tank, told Xinhua recently that he expects APEC leaders to "build on the success in previous years of strengthening cooperation between the 21 economies."
A lot of work in promoting green and sustainable growth will be discussed and promoted, as the APEC has defined green growth as environmentally sustainable economic growth and development, he said.
U.S. Trade Representative Ron Kirk said recently that the forum's U.S. hosts will seek commitments from participants to encourage competitions and open markets as a way to bolster innovation.
Ernest Bower, director of Southeast Asia Program at the Washington-based Center for Strategic and International Studies (CSIS), said renewable energy products and technology are likely the focus of this topic.
The U.S. is also hoping to persuade other Asia-Pacific economies to agree to a deal to tear down barriers to the trade of environmental goods and services. But some experts don't think blockbuster agreements on green growth will be reached during the meeting.
On Monday, China's Assistant Foreign Minister Wu Hailong said "APEC members generally hold positive attitudes toward U.S. proposals in various fields such as green growth, innovation policy. But some of the U.S.'s expected outcomes are beyond the capacity of the developing members, and they have expressed their difficulties and concerns."
He said China expects the APEC members to comprehensively promote regional trade and investment liberalization, and all member states should fulfill their commitments and oppose all forms of trade protectionism.
Yu Jianhua, Chinese assistant commerce minister, called for pushing the development of a green economy in the region steadily as APEC members differ sharply in their basis, conditions and levels.
It is widely believed that the U.S. will advance the the Trans-Pacific Partnership (TPP), an Asia-Pacific regional trade agreement being negotiated among the United States and eight other partners, namely Australia, Brunei, Chile, Malaysia, New Zealand, Peru, Singapore and Vietnam