On Nov. 14, 2010, the second session of the 18th APEC Economic Leaders' Meeting was held in Yokohama, Japan. President Hu Jintao delivered an important speech at the meeting.

The second phase of the meeting was held in Intercontinental Hotel, Yokohama. The participating leaders exchanged views on a number of important issues including the review of the Bogor Goals, regional economic integration, Doha Round negotiations, and the future direction of APEC. President Hu delivered an important speech at the meeting.

Hu pointed out this year is the deadline for the developed members of APEC to achieve the Bogor Goals. It is a milestone year for the development of APEC. APEC should continue to inherit the spirit of the Bogor Goals, adapt to new situations, and respond to new challenges. APEC should also leverage its own advantages, keep reforming and improving, and play a greater role in the following areas:

First, to continue to promote trade and investment liberalization and facilitation and accelerate regional economic integration. We should take the opportunity of reviewing the Bogor Goals this year to promote cooperation for trade and investment liberalization and facilitation and speed up the movement of goods, services, people, and capital in the region. To take concrete actions to oppose protectionism in varied forms, continue to honor commitments and strictly implement the commitment of not setting new restrictions on commodities, investment and services. We should strive for a comprehensive and balanced outcome in the Doha Round negotiations and for the early fulfillment of the goals in the development round. We support speeding up the research on the establishment of Asia-Pacific free trade area and advancing the free trade area at different levels and scopes, through various channels and in a step-by-step approach.

Second, to speed up the implementation of growth strategy and improve the quality of economic growth. We should fully understand the importance of economic growth strategy, be more active and determined to execute the strategy, and implement the strategy by various means such as policy exchanges, capacity building, and cooperation projects. Internally, APEC should strengthen the inter-unit coordination and form synergies. Externally, APEC should cooperate with mechanisms such as the Group of Twenty, leverage each other's complementary advantages and promote the fast economic recovery and growth of the Asia-Pacific region and the world.

Third, to strengthen economic and technical cooperation and enhance self-development capacity and inherent dynamism of developing economies. Strengthening economic and technical cooperation and narrowing the development gap is the fundamental requirement for the development and prosperity of the Asia Pacific region. We should establish the concept that human resource is the primary resource for economic and social development and focus on strengthening cooperation in the field of human resources development. China has decided to jointly conduct with the APEC members the skills development and promotion projects, establish the APEC skills development and promotion center, and help developing members to strengthen human resource capacity building. We look forward to the active support and participation of all members.

Hu pointed out that in recent years, China has made strong efforts to achieve people-centered, comprehensive, coordinated and sustainable development, transform the mode of economic development, and maintain stable and rapid economic development; China has strived to implement the strategy of expanding employment, deepen the reform on income distribution system, and accelerate the establishment of social security system covering both urban and rural residents; China has worked hard to strengthen energy and resources conservation and ecological and environmental protection, enhance capacity for sustainable development, and adhere to the path of sustainable development; China has endeavored to enhance the independent innovation capability, build an innovative country, and promote innovation and development; China has tried hard to strengthen the fundamental position of agriculture, ensure national grain security, respond to major natural disasters and public health and security incidents, protect safety of people's lives, and achieve security and development.

Hu said China is willing work with other members to learn from each other and seek for equal cooperation and common development. China will continue to actively develop relations with other members and work together with them to create a favorable regional environment featuring peace and stability, equality and mutual trust, cooperation and win-win outcome so as to make a positive contribution to building a harmonious Asia-Pacific with lasting peace and common prosperity. (Full text of President Hu's speech will be released separately.)

After the second phase of the meeting, President Hu attended the reading-out ceremony of the leadership declaration and the luncheon for the APEC leaders.

The 18th APEC Economic Leaders' Meeting then came to an end.

The 19th APEC Economic Leaders' Meeting will be held in the United States in 2011.