Singapore Prime Minister Lee Hsien Loong said that the upcoming Asia Pacific Economic Cooperation (APEC) leaders' summit will focus on longer term issues that will foster growth in the region.
Speaking at a press conference here on Tuesday, he said that the APEC leaders' summit, which will be held on Nov. 14 to 15, occurs at a "critical moment."
Most economies are out of the "trough of spasm" that was experienced at the start of this year, and the global economy is now "slightly nose above water," he said, adding that he does not expect another dip in Singapore's economy, but the recovery will not be dramatic.
He said that the short terms stimulus measures taken by governments to weather the crisis have been effective, hence the upcoming leaders' summit will focus on long term issues. " Sustaining growth, and connecting the region" will be the theme of the meeting.
He said that the post-crisis economy growth has to be balanced, inclusive and sustainable. The economic leaders will also discuss on issues
to advance free trade and open market, and to take feasible steps to reduce trade barriers.
He also welcomed over 10,000 visitors from the region to participate in the meeting. He urged Singaporeans to do their best to show what the country can do, adding that Singapore will organize a smooth and peaceful meeting.