Wednesday, January 11, 2012

The G20 Summits in Asia

The annual summits, which finished last month, started with the G20 and lead to the APEC Summit. The details are following the Cannes Summit (3-4 November), Asian leaders participated in series of summits; APEC in Honolulu (12-13 November), the ASEAN summit (17-19 November) and the East Asian Summit (EAS) (19 November). The prominent feature of the Asia Pacific meetings was the return of the US, as host at APEC, where President Obama re-launched the Trans-Pacific Partnership (TPP) negotiations, targeting a 12-month completion date; and as one of the newest members of the EAS, which some see as the forum most likely to link regional and global strategic issues carry out macroeconomic re-balancing, discussions among ASEAN +3 governments should  take place in the multilateral Chiang Mai Initiative located in Thailand. The ultimate goal agreed to by all countries is to bring about a "Free Trade Area of the Asia-Pacific" (FTAAP) by 2020. There were no divergent views among the countries.  

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