September 9, 2005 Statement of U.S. Treasury Deputy Secretary Robert
Cheju, "During our meetings yesterday and today we had the opportunity to discuss several issues of particular importance to the "We continued our ongoing dialogue on the importance of global capital flows. My colleagues here joined me in recognizing that continued liberalization of trade and open investment regimes that welcome foreign capital are critical to achieving sustained economic and job growth. "We also discussed the importance of bringing the Doha Round of multilateral trade negotiations to a successful conclusion. One of the most important contributions that finance ministers can make is to take a leadership role in advancing financial services liberalization, which, along with services liberalization generally, will be a critical part of a successful Doha Round. In our Communiqué we committed to pursue a meaningful outcome in financial services in the Doha Round. "Economic growth and the outlook in the APEC region remain strong. We also spoke about risks to the outlook. High oil prices are a particularly important issue, and we discussed ways to ease the current very tight global supply. We agreed on the importance of encouraging investment to bring forth additional supply. We also recognized the importance of reducing subsidies that artificially encourage energy use, often at great cost. "The finance ministers noted in the Communiqué the continued threat of terror worldwide and underscored the importance of actions to combat terrorist financing, money laundering, and other abuses of our financial systems. The language complements the recently adopted U.N. Security Council Resolution, 1617, which further targets the support networks of the Taliban, al Qaida, and Usama bin Laden. The Resolution strengthens targeted financial sanctions to cut off al Qaida's lifeline, and sets forth a vigorous global campaign against terrorist financing. "I want to highlight the discussion on addressing global imbalances. Our Communiqué makes clear that bringing about an orderly adjustment of global imbalances is a shared responsibility, and emphasizes the need for concrete actions by all in a timely and effective manner. By all of us taking the actions required to address global imbalances we can assure a continuation of sustained and rapid growth in global output and employment. "For "
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