Duties on green technology to be cut

Asia-Pacific nations, united in the Asia-Pacific Economic Cooperation (APEC), including the USA, Russia and China, pledged measures to boost economic growth and promote the green economy, Reuters informed, as quoted by BNT. At the meeting in Vladivostok, APEC leaders adopted a final declaration stating their commitment to fight corruption and reduce the imbalance by strengthening their state financial systems, reducing the sharp price fluctuations and raising the level of food security, RIA Novosti informed.

In the document, APEC member states expressed their worries about the fragile state of the global economy, global food security and growing signs of protectionism. The 21 members of APEC agreed to slash import duties on the so-called "green technology". The agreement concerns 54 items related to environmental protection and the introduction of green energy, whose import duties will be reduced to no more than 5% by 2015, including equipment for renewable energy generation, waste treatment and environmental monitoring.

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