(2nd LD) S. Korean president stresses economy, regional integration at APEC summit

(ATTN: UPDATES with Lee's participation in meeting with APEC Business Advisory
Council in paras 7-9, minor changes)
By Byun Duk-kun
SINGAPORE, Nov. 14 (Yonhap) -- South Korean President Lee Myung-bak urged
Asia-Pacific Economic Cooperation (APEC) leaders Saturday to enhance cooperation
in dealing with the ongoing global economic crisis and efforts to build a
regional economic community.
Lee also proposed that the leaders begin discussing a Free Trade Area of
Asia-Pacific (FTAAP) as suggested in a joint study by South Korea, Australia and
New Zealand, his office, Cheong Wa Dae, said.
The South Korean leader arrived here Friday for the annual summit of leaders from
21 economies around the Asia-Pacific rim.
"President Lee explained the outcome of the joint study on the FTAAP that it will
contribute to the development of APEC members and proposed that the leaders
discuss the issue as a long-term objective," Cheong Wa Dae said in a press
release.
The proposal falls in line with Lee's repeated call for the continued leadership
by major economies to fight the global economic crisis.
"President Lee will work to bring together APEC and the G-20 economic summit,
which will be chaired by South Korea in 2010," Lee's spokeswoman Kim Eun-hye told
reporters before the start of the APEC summit here. The meeting ends Sunday.
In a separate meeting with the APEC Business Advisory Council (ABAC), the South
Korean president called for close cooperation between the two economic forums.
"President Lee stressed the need for the international conference, G-20, and the
regional forum, APEC, to work closely together as complementary groups to counter
the economic crisis and set up post-crisis development initiatives," Cheong Wa
Dae said of the outcome of the ABAC.
ABAC talks were held in five separate groups. Lee attended his session with
leaders from Russia, Vietnam and Peru and business representatives and advisers
from the U.S., China, Thailand, New Zealand, Chile and Taiwan.
The G-20 summit has been named the premier forum for international economic
cooperation, as its member countries account for over 80 percent of world gross
domestic product (GDP). APEC states make up about 53 percent of world GDP.
At the APEC summit, Lee urged the leaders to freeze or roll back any new
protectionist measures introduced since the economic crisis unfolded late last
year, a key agreement of the G-20 forum.
The South Korean president and Singapore's Prime Minister Lee Hsien Loong agreed
Friday in a bilateral summit to "make joint efforts to promote the key agreements
from the G-20 summit" at this week's APEC forum.
Lee and the other leaders will meet again on Sunday to discuss a joint statement
to be issued at the end of the summit.
bdk@yna.co.kr
(END)