The Second Day of the APEC Economic Leaders' Meeting

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Prime Minister Junichiro Koizumi participated in the second day of discussions at the Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting. During the meeting, the leaders discussed economic issues, including the new multilateral trade negotiation at the World Trade Organization (WTO Doha Round), free trade agreements and surging oil price. The leaders then announced the Santiago Declaration, which incorporates the launch of the "Santiago Initiative for Expanded Trade in APEC" for measures on further liberalization and facilitation of trade and investment, as well as steps to cut off terrorists' access to the international financial system as a counterterrorism measure. In the afternoon, Prime Minister Koizumi held separate meetings with Mr. Vladimir Putin, the President of the Russian Federation and Mr. Hu Jintao, the President of the People's Republic of China. At the Japan-Russia Summit Meeting, Prime Minister Koizumi said, "It is clear that concluding a peace treaty and dramatically advancing Japan-Russia relations are in the strategic interests of both sides." President Putin confirmed that he believed it was necessary to resolve the territorial issue and conclude a peace treaty. The two leaders agreed to vigorously advance the consultations on all levels, including reciprocal visits by the foreign ministers. At the Japan-China Summit Meeting, the two leaders shared the recognition that they intended to build mutual friendly relations with a future-oriented perspective based on the position that Japan-China relations are extremely important. As for individual concerns, Prime Minister Koizumi said regarding the incident of the Chinese nuclear submarine intruding into Japanese territorial waters, "It is important to implement measures to prevent a recurrence," with reference to the Japan-China Foreign Ministers' Meeting wherein the Chinese side reaffirmed its expression of regret on this matter. Furthermore, with respect to the issue of gas field development by China in the East China Sea, Prime Minister Koizumi said, "It is critical to avoid turning the East China Sea into a sea of confrontation."

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