Chile makes its debut in APEC

JAKARTA (Agencies): Chile made its debut in the Asia Pacific Economic Cooperation (APEC) forum yesterday at the opening of the group's ministerial meeting.

"We expect to make a substantive contribution from the point of view of our region and of our own economic experience," Chilean Foreign Minister Jose Miguel Insulza told reporters.

"I am extremely happy that our country has joined APEC and with the warm welcome given to me by my colleagues," Insulza said.

"I hope that Chile will be able to share its experience in economic matters, but also that it will be able to learn on economic matters from its membership in the world's most dynamic region," he added.

Chile was admitted at the last APEC ministerial meeting in Seattle in November 1993 at the same time as Papua New Guinea and Mexico, but it only joined in the forum's "processes" as of yesterday.

President Eduardo Frei of Chile will be taking part in the APEC leadership meeting in Bogor on Tuesday. Frei will also be bringing a delegation of business executives as part of the tour.

Last year, the forum declared a three-year moratorium on new members as it reviews its criteria for membership. One important criteria is that the member's economy must be "market driven".

Peru, Russia and Vietnam have been knocking on APEC's doors.

Insulza yesterday signed an investment agreement with his Indonesian counterpart Ali Alatas on the sidelines of the APEC meeting.

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