PETERS WELCOMES NEW APEC MEMBERS

Treasurer Winston Peters joined other APEC countries in welcoming Vietnam, Peru and Russia as observers to the APEC Finance Ministers meeting, being held in Alberta, Canada from May 22 - 25.

"With all three countries expecting to become full members of APEC this year, the organisation will move significantly closer to being truly representative of the Asia Pacific region.

"The meeting is an excellent chance to have informal talks with counterparts in the region about issues that affect us all," Mr Peters said.

Items on the agenda for discussion include the Asian financial crisis, year 2000 technology issues and trade flows between member countries.

Mr Peters is also taking the opportunity to have separate bilateral discussions with his counterparts from Australia, Canada, Hong Kong, Malaysia and Korea.

The New Zealand Delegation is taking an interest in the organisation of the meeting, in preparation for New Zealand's hosting of the APEC Leaders meeting next year, and the APEC Finance Ministers meeting in 2000.

Mr Peters travels to Vancouver on Monday (Canada time) to address the Fraser Institute.