"Despite the current economic rebound, growth in APEC remains below pre-crisis levels, and output below its potential," an official of the Asia-Pacific Economic Cooperation forum told Kyodo News.
The ministers and heads of international financial institutions will discuss "new sources of growth, how APEC could further advance structural reforms to raise the potential output growth rate and how APEC can leverage on the resources and expertise of IFIs, regional development banks and the private sector," the official added.
The official also said the participants will discuss "how to create an environment conducive for finance to continue to flow to infrastructure development, green industries and other areas which will contribute to future growth."
"IFI heads will open this session with brief remarks on the economic outlook. Participants then will take stock of the extraordinary stimulus measures introduced by APEC economies since the end of 2008 and discuss the design and implementation of stimulus measures, exit strategies and fiscal sustainability."
The region covered by APEC accounts for 53 percent of the world's economic output, 40 percent of its population and 44 percent of global trade.
The ministers will issue a statement at the end of the meeting.
In the statement, the ministers will identify key challenges facing the world economy in the post-crisis period, including restoring growth potential, exiting extraordinary fiscal, financial and monetary support measures, implementing medium-term fiscal consolidation strategies and meeting the region's infrastructure needs.
They are also expected to reaffirm a strong commitment to free, open trade and investment by 2010 for industrialized economies and 2020 for developing economies.
"We are committed to supporting open trade and investment to advance Asia-Pacific and global prosperity and growth sustainability, and will actively resist protectionist measures," a draft statement obtained by Kyodo News says.
On infrastructure development, the ministers say the Asia-Pacific region will need about $750 billion a year over the next decade as advanced economies replace aging infrastructure and emerging economies build new ones to keep pace with rapid economic development.
To promote "green economy," the statement indicates the ministers will agree on improving energy security by committing "to increase energy- market transparency and market stability by publishing accurate and timely data on oil production, consumption, refining stock levels, as appropriate, on a regular basis, ideally monthly, beginning January 2010."
APEC has 21 members -- Australia, Brunei, Canada, Chile, China, Hong Kong, Indonesia, Japan, South Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, Taiwan, Thailand, the United States and Vietnam.
