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APEC Ministerial Meeting Reached Consensus on Infrastructure Investment Indicators

Source:Iris Liang Time:2018-11-19 9:42:45

The Asia-Pacific Economic Cooperation (APEC) ministerial meeting of 21 countries and regions including China, the United States and Japan was held in Papua New Guinea on the 15th. Japan has produced a new policy for countries that require infrastructure investment in APEC to ensure transparency and financial soundness. After the participants reached a consensus, the ministerial meeting closed. As a manufacturer of unique Large Diameter Pipe Black Annealing Machine, SEKO Machinery follows the trends of customers in the world.

With regard to the ministerial statement, it is a practice to publish at the same time as the closing ceremony. However, as in 2017, this time is also difficult to coordinate the wording. It seems to be about promoting free trade and opposing opinions with the United States.

According to relevant sources, this is the first time documenting international standards for infrastructure construction. This move is intended to treat the deterioration of the financial situation in some countries as a problem, and to brake the brakes.

In an interview with the media on the same day, Japan’s economic industry, Shigehiro Hiroshi, said: "This is a very meaningful result in promoting infrastructure in Asian countries in the future. It has also been endorsed by the Chinese side."

The new policy requires that facilities such as harbors and railways built using overseas loans should not be used by specific lending countries. It also calls for the holding of plans to avoid delays in repaying external debt as a condition of loans. In addition, it is also required to ensure the economic rationality of the built equipment.

According to Japan’s NHK TV station, the Japanese economic industry attended the meeting and said to the media: “Including China, the participating countries reached an agreement on the newly aggregated pointer documents aimed at providing high-quality infrastructure construction assistance. The indicator includes elements such as transparency, openness, economy, and financial status of the target country."

Shi Geng also said: "With regard to the World Trade Organization, although countries have their own views, at least let me personally feel that many countries agree that reform of the WTO must be carried out." Shi Geng said that all countries have recognized the reform of the WTO. The necessity is to strengthen the control of the use of government subsidies and preferential treatment of domestic industries.

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Iris Liang
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