FOREIGN Affairs Minister George Yeo said that Asia-Pacific EconomicCooperation (Apec) delegates remained hopeful and upbeat,  their mood reflecting the gradual turnaround in the global economy.

"Due to the non-binding nature of Apec decisions, leaders and ministers could afford to be more candid and more open to new ideas," he said.

"We reviewed the global economic situation, launched initiatives that will help businesses and discussed growth strategies to promote durable recovery.

"In particular, there was broad agreement on reorientating our growth strategies to  address the challenges of climate change, globalisation and macroeconomic imbalances."

This year's summit also managed to set key targets such as making doing business in the region easier, and cheaper by 25 per cent, by 2015.

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