MINISTERS of the Asia-Pacific Economic Cooperation (Apec) ended their annual meetings on Thursday in an upbeat mood, pledging to work together to sustain the economic recovery.

They also agreed to help each other to improve the business environment in the region, setting targets to improve the ease of doing business.

Summing up their two-day discussions, the ministers also said they were heartened by the 'collegial' atmosphere that prevailed.

'It was quite unlike the traditional trade negotiations, which are sometimes seen as you win, I lose,' Foreign Minister George Yeo told international reporters.

Among other things, the ministers agreed on a target to reduce business costs in the 21-member grouping by 25 per cent within the next six years.

Six economies, including Singapore, will help the rest to achieve the goal, mainly through sharing knowledge and formulating action plans. 'There was a very interesting and clear dynamic of each (economy) trying to be as good as the next person, and economies are quite willing to help less developed economies,' Mr Yeo said.

Read the full report in Friday's edition of The Straits Times.