Russian President Vladimir Putin will on Saturday hold bilateral meetings with South Korean President Lee Myung-bak and U.S. State Secretary Hillary Clinton on the sidelines of the Asia Pacific Economic Cooperation (APEC) summit in the Russian city of Vladivostok, Putin’s aide Yury Ushakov said.
Putin arrived in the Far Eastern city of Vladivostok to take part in the 2012 Asia Pacific Economic Cooperation summit, held on September 7-9, on Thursday.
The business summit gathers more than 500 leading entrepreneurs from Pacific Rim countries. The summit’s official part will be held on September 8-9.
Nearly all APEC members will be represented at the top level, whereas the United States will be represented by Clinton. President Barack Obama will be unable to attend due to an ongoing election campaign in his country.
This is the first time Russia, an APEC member since 1998, is hosting the summit of the group, created in 1989 to promote economic cooperation in the Pacific Rim.
APEC comprises 21 countries, including Russia, the United States, Canada, China and Japan.
Among the priorities that Russia has chosen for its APEC presidency are trade and investment liberalization, regional economic integration, strengthening food security, forming reliable transport and logistics systems and cooperation in attaining innovation growth goals.
At the end of the summit, APEC leaders plan to adopt a joint declaration, and the Russian president will give a news conference.
Since Russia assumed APEC’s rotating presidency on January 1, it has organized more than 100 events, including ministerial conferences, sessions of committees and working groups, seminars and conferences. More than 50 Russian initiatives have either been implemented or are being put into practice.
Indonesia will assume the forum’s rotating presidency in 2013.