Key heads to Apec leaders meeting

Published: 7:51PM Monday November 09, 2009 Source: NZPA

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Prime Minister John Key leaves on Thursday to attend the Asia-Pacific Economic Cooperation (Apec) leaders meeting in Singapore.

Apec promotes closer trade and economic relationships between its 21 member countries and makes it easier for them to trade and invest in each other's economies.

"The Asia-Pacific region is vitally important for New Zealand's future prosperity and as many as 14 of New Zealand's top 20 export markets are Apec members," Key says.

"Leaders will talk about how to ensure a strong and sustained economic recovery and a return to growth across the region."

Key will be sitting next to United States President Barack Obama during a session when leaders split into small groups to discuss economic priorities.

Key has previously met President Obama, most recently in New York last month at the United Nations' General Assembly session.

Finance Minister Bill English, Foreign Minister Murray McCully and Trade Minister Tim Groser are also going to Singapore to attend meetings with their counterparts.

English says he is keen to look at the impact of the global financial crisis on monetary policy, financial regulation and fiscal management in the region.

During the Apec summit he will hold bilateral meetings with Australian Treasurer Wayne Swan and Indonesian Finance Minister Sri Mulyani Indrawati.

McCully says foreign ministers would discuss non-trade issues such as ways to improve responses to natural disasters and pandemics, and common threats and challenges in the region.

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