TEXT-APEC pledges to conclude Doha, drops CO2 targets

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SINGAPORE, Nov 15 (Reuters) - Leaders of the 21-member Asia
Pacific Economic Cooperation forum pledged on Sunday to
conclude Doha global trade talks in 2010 and to reject
protectionism, but dropped earlier draft references to
"market-oriented exchange rates" and to emissions cuts.

Following are highlights of the leaders' final declaration.

ON SUSTAINING GROWTH

"Today, our robust policy responses have helped to set the
stage for recovery. But economic recovery is not yet on a solid
footing.

"Our commitments to reject protectionism and keep our
markets open and free have enabled trade to be part of the
solution rather than the problem. We will maintain our economic
stimulus policies until a durable economic recovery has clearly
taken hold.

"We recognise the necessity to develop a new growth
paradigm for the changed post-crisis landscape, and an expanded
trade and investment agenda that will strengthen regional
economic integration (REI) in the Asia-Pacific region. We
cannot go back to "growth as usual".

ON BALANCED GROWTH

We support the goals of the G-20 Framework for Strong,
Sustainable and Balanced Growth. We join in their commitment
to:

- Work together to ensure that our macroeconomic,
regulatory and structural policies are collectively consistent
with more sustainable and balanced trajectories of growth:

- Promote current account sustainability and open trade and
investment to advance global prosperity and growth
sustainability;

- Undertake macro prudential and regulatory policies to
help prevent credit and asset price cycles from becoming forces
of destabilisation; and

- Promote development and poverty reduction as part of the
rebalancing of global growth.

ON MULTILATERAL TRADING

"We strongly reaffirm that the most effective means of
dealing with protectionist pressures and delivering a global
stimulus package to sustain and secure our recovery is an
ambitious and balanced conclusion to the Doha Development
Agenda (DDA) in 2010, based on the progress achieved to-date,
including with regard to modalities.

"It is important that the high-level political commitment
to concluding the Doha Round translates into substantive
progress in the negotiations. We are ready to exercise
pragmatism and all possible flexibility and utilise all
possible avenues in order to accelerate the pace of
negotiations to secure convergence on a final package."

ON SUSTAINBLE GROWTH

"We will ensure that economic growth in our region is
consistent with sustainable development. Anthropogenic climate
change is one of the biggest global challenges. It will impact
each of our economies.

"We welcome the Declaration of the Leaders of the Major
Economies Forum on Energy and Climate in L'Aquila and the
Leaders' Statement at the G-20 Pittsburgh Summit, and reaffirm
our commitment to tackle the threat of climate change and work
towards an ambitious outcome in Copenhagen, within the
objective, provisions and principles of the United Nations
Framework Convention on Climate Change (UNFCCC).

"Global action to reduce greenhouse gas emissions will need
to be accompanied by measures, including financial assistance
and technology transfer to developing economies for their
adaptation to the adverse impact of climate change.

"We recall our Declaration on Climate Change, Energy
Security and Clean Development in Sydney in 2007, which set out
an APEC-wide aspirational target of reducing energy intensity
by at least 25 percent by 2030.

"We applaud the efforts made by individual APEC economies
that have unilaterally undertaken measures to reduce emissions.
Sustainable forest management plays an important role in
mitigating global emissions.

"We will enhance work on meeting the aspirational goal in
the Sydney Declaration of increasing forest cover in the region
by at least 20 million hectares of all types of forests by
2020.

"We support efforts in the UNFCCC negotiations to agree on
actions to reduce emissions from deforestation and forest
degradation (REDD) in developing economies.

"We recognise the role of the oceans in mitigating climate
change, and the impact of climate change on oceans and coastal
areas, and welcome the Manado Ocean Declaration.

"Responding to climate change through transition to green
economies also offers opportunities. We will ensure that
efforts to address climate change are consistent with our
international trade obligations.

"A key thrust in APEC's sustainable growth agenda is the
APEC Environmental Goods and Services (EGS) Work Programme,
under which we will develop and implement a set of concrete
actions to support sustainable growth in the region, advance
work to increase utilisation and dissemination of EGS, reduce
existing barriers and refrain from introducing new barriers to
trade and investment in EGS, and enhance capabilities of
economies to develop their EGS sectors.

"We also commit to rationalise and phase out over the
medium term fossil fuel subsidies that encourage wasteful
consumption, while recognising the importance of providing
those in need with essential energy services.

"We will review progress on this at our meeting in 2010. We
will also take steps to facilitate the diffusion of
climate-friendly technologies, including through economic and
technical cooperation (ECOTECH) and capacity building
activities.

"We will advance work on sharing best practices in energy
efficiency with a view to deploying cleaner and more efficient
technologies, and welcome the implementation of the voluntary
APEC Peer Review on Energy Efficiency.

"We recognise the role of renewable energy in reducing
emissions and encourage its development in the APEC region. We
will encourage publication on a regular basis, timely,
accurate, and complete data on oil production, consumption,
refining and stock levels as appropriate."
(Editing by Neil Chatterjee)