Russian president calls for closer economic cooperation in APEC

SINGAPORE, Nov. 14 (Xinhua) -- Russian President Dmitry Medvedev Saturday called for increased coordination of macroeconomic policies in the region of the Asia-Pacific Economic Cooperation (APEC).

Despite signs of stabilization, talks about the global economy's full recovery are premature, he said at the on-going APEC CEO Summit.

Current growth indicators show only that national economies are adapting to new conditions, he said.

Medvedev pointed out that the crisis revealed a high degree of interdependence between different economies, and therefore convincingly showed the need for increased coordination of national macroeconomic policies.

The president also called on nations to avoid protectionism and remove trade barriers.

Incepted in 1996, the annual APEC CEO Summit is the biggest event of the business community of the region.

The event this year is held under the theme of "Rebuilding the Global Economy: Crisis and Opportunity".