APEC 2005 wraps up

November 20, 2005

The Asia-Pacific Economic Cooperation, APEC 2005 wrapped up this weekend with trade impasse unresolved. Member countries fell short of blaming EU for causing the impasse. The EU has been largely criticized for not opening up its own agriculture market. South Korean Foreign Minister Ban Ki-moon said "The leaders here ... are basically saying that now the ball is in Europe's court".

Member countries talked of high oil prices hurting their economies and agreed on energy efficiency, conservation and diversification. Supply and demand issues were not clarified.