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U.S.'s Treasury's Geithner to attend Singapore APEC meeting

Fri Oct 23, 2009 2:57pm EDT
WASHINGTON, Oct 23 (Reuters) - U.S. Treasury Secretary Timothy Geithner travels to Singapore to attend a meeting of finance ministers who are members of the Asia Pacific Economic Cooperation forum for one day next month.

Geithner will meet fellow finance ministers on Nov. 12 for talks on issues related to the global economic crisis, capital market developments and other issues.

Treasury said Geithner also wants to discuss "the importance of policy measures to ensure new sources of domestic demand led growth in order to bring about strong, sustainable and balanced global growth."

The Obama administration has been urging countries like China to rely less on exports and more on domestic consumption for future growth, warning the United States is no longer in a position to be the world's consumer and must save more.

APEC has 21 member economies: Australia, Brunei, Canada, Chile, China, Hong Kong, Indonesia, Japan, South Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, Philippines, Russia, Singapore, Taiwan, Thailand, United States and Vietnam.

(Reporting by Glenn Somerville)

Russia  |  Indonesia  |  Japan  |  Mexico  |  South Korea
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