Leaders of the 21-member Asia-Pacific Co-operation (APEC) forum have pledged to establish a regional free-trade area. The agreement was announced on Sunday at the end of a two-day summit held in Yokohama of Japan. The initiative would link the world's three biggest economies - the United States, Japan and China. However, deep differences remain - chiefly between the US and China - over trade imbalances and currency distortions. The USA aims to increase their exports to the region and considers China's cheap currency is a barrier to that goal. Chinese President Hu Jintao has said any change will only be made at Beijing's own pace. In their final declaration, APEC leaders reaffirmed their "unwavering commitment to achieving free and open trade and investment in the region". They also pledged to take "concrete steps toward realising a Free Trade Area of the Asia-Pacific", but gave no timetable. The declaration - entitled Yokohama Vision - also rej...
broadcasting latest, informative, in depth and significant news with untold stories for you.