Economic Leaders of the 21 member economies of Asia-Pacific Economic Cooperation (APEC) adopted a Busan Declaration before they conclude their two-day meeting Saturday in Busan, charting APEC's progress into the future.

The Declaration said the Economic Leaders are confident that important milestones have been set this year in paving the way for APEC's future. They firmly believe APEC will increasingly contribute to its members' prosperity and meet any new challenge with confidence.

The Economic Leaders acknowledged the importance of ensuring that all of their citizens have the opportunity to share the benefits generated by trade liberalization and economic growth.

The Declaration said APEC intends to build on its ongoing work to expand the circle of beneficiaries of economic growth through such means as providing economic and technical cooperation, particularly, measures of capacity building, encouraging economic reforms and fighting corruption.

They recognized the significant contributions that women have made to the economic development of the region and committed to ensuring the integration of gender in the activities across all APEC fora.

It said the APEC Economic Leaders highlighted the importance of innovation and sharing advanced technologies among members in the years to come.

They welcomed the concrete outcomes of APEC Reform efforts taken this year in making APEC more efficient and result-oriented.

They noted that their efforts have contributed to creating an Asia-Pacific community and welcomed the contribution of the cultural agenda to the efforts by facilitating a deeper understanding among the people and lowering psychological barriers.

The APEC Economic Leaders endorsed in full the Joint Statement agreed by ministers at the 17th APEC Ministerial Meeting, the Declaration said.

Source: Xinhua