APEC Ends Summit

Posted September 9th, 2012 at 4:50 am (UTC-5)
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The 21-member nations of the Asia-Pacific-Economic Cooperation – APEC – ended their two-day summit Sunday in the Russian port city of Vladivostok.

The group agreed to slash import duties on “green technology,” take steps to bolster growth and liberalize trade to counter problems heightened by Europe's debt crisis.

U.S. Secretary of State Hillary Clinton attended the meeting where she and Russian Foreign Minister Sergei Lavrov signed a pact to enhance U.S. – Russia scientific cooperation in the Antarctic.

On Sunday, Clinton urged Japan and Korea to “lower the temperature” in their disagreement over a disputed island chain that has set the two U.S. allies at odds.

Russian President Vladimir Putin used the summit to promote Russia's ambitions to enhance its transport infrastructure across the two continents it straddles, bolstering exports to east Asia as demand in Europe wanes.

On the sidelines, officials from Japan and Gazprom, Russia's gas giant, signed a preliminary agreement on construction near Vladivostok of a $13 billion natural gas plant and shipping port.