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APEC port service network founded

APEC port service network founded

Shanghai: The Asia-Pacific Economic Cooperation (APEC) officially inagurated its APEC Port Service Network this week in Ningbo city, with the aim of enhancing trade and cooperation in port and related industries, writes CCTV International. The network, which boasts 14 members at present, is the first comprehensive open alliance in the transportation field in the Asia-Pacific region.

As a cooperation platform, the alliance hopes to eliminate the negative impact of the differences that exist at current ports. The proposal to found the network was first raised by Chinese President Hu Jintao at the 14th APEC non-official summit meeting held in December 2006.

APEC's trade volume is estimated to account for almost half of the world's volume. The Asia-Pacific region has seen the fastest growth rate of container throughput in the world, developing into one of the most energetic regions in the global economy.   [07/11/08]