News
Foreign and trade ministers from the 21 economies Asia-Pacific region announced Thursday a joint statement called the ''Yokohama Vision'' after concluding a two-day meeting of the Asia-Pacific Economic Cooperation (APEC) forum in Yokohama.
At the meeting an action plan was worked out in a bit to cut cost and time spent for international logistics within the region. They aim to reduce distribution costs and time by up to 10% by 2015. This constitutes one of the main pillars of the action plan.
The leaders also affirmed the increasing importance of the region as a fastest growing center in the global economy and agreed on the need to reinforce regional economic integration. The action plan should serve as an important measure in achieving a Free Trade Area of the Asia-Pacific (FTAAP), one of the main agenda of the Yokohama meeting.
