SAM: Asia Pacific leaders add support to G20 action plan
23 Nov 2008 4:59 PMBy Sandra O'Malley, Diplomatic Correspondent
LIMA, Nov 23 AAP - Asia Pacific leaders will issue a special declaration onthe global financial crisis on Sunday, giving their imprimatur to a G20 economic action plan and urging a successful finish to global trade talks.
Prime Minister Kevin Rudd will spend the first anniversary of his government in the company of 20 other leaders in the Peruvian capital, Lima, for theAsia Pacific Economic Cooperation (APEC) summit.
There may not be cake and candles to celebrate the Rudd government's first birthday, but he and other regional heads will get a chance to dress up.
They are expected to don ponchos and, perhaps, the traditional Peruvian beanie, the chullo, when they gather for the traditional APEC photograph at lunchtime.
Mr Rudd will join his counterparts at the Ministry of Defence to put the finishing touches to the final communique, known as the Lima Declaration, which will add impetus to efforts by the G20 nations - which met in WashingtonDC last weekend - to bring an end to the long-running Doha round of globaltrade negotiations.
In a statement issued on Saturday, APEC leaders called for an "ambitious and balanced" conclusion to Doha, which would provide the basis for economiesto "grow and prosper".
In addition, they will send a separate message on the need to take strong action to address the current global financial and economic problems, mirroring the G20 call for coordinated monetary and fiscal stimulus, as well as greater regulatory checks.
"We are convinced that we can overcome this crisis in a period of 18 months," the Saturday statement said.
"We have already taken urgent and extraordinary steps to stabilise our financial sectors and strengthen economic growth and promote investment and consumption.
"We will continue to take such steps, and work closely, in a coordinated and comprehensive manner, to implement future actions to address this crisis."
The APEC summit will mark the final turn on the world stage for United States President George W Bush, who hands over the keys to the White House in January.
Mr Rudd appears to have no special plans for bidding farewell to Mr Bush.
It will be the first time in recent years that Australia and the United States have not had a bilateral meeting at APEC, and while Australia was at the G20 summit, there was no official meeting between the two leaders last weekend.
While the controversy over the alleged leaking of a conversation between MrRudd and Mr Bush has died down, the US president stressed during a speech to chief executives on Saturday that he had pushed for the G20 to be the forum for the summit on the financial crisis.
"I ... didn't believe that the meeting ought to be with kind of a handful of countries," Mr Bush said.
"Some suggested keep the meeting small. I didn't agree with that. And that's why we invited 20 leaders."
During the now infamous telephone conversation with Mr Rudd, Mr Bush reportedly asked: "What's the G20?" Both Washington and Canberra have denied the report of the conversation published in an Australian newspaper.
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