Outgoing governor Alan Bollard to lead APEC Secretariat

"His leadership will help guide APEC's work to advance its agenda to boost trade and recovery."

BUSINESSDESK: Reserve Bank governor Alan Bollard, who delivers his final monetary policy statement next week, has been confirmed as the next leader of the Asia Pacific Economic Co-operation's Secretariat.

Dr Bollard was introduced to APEC ministers on Thursday and will kick off his three-year term from the start of next year, the regional body says.

As head of the secretariat, he will co-ordinate the technical and advisory body that supports sustainable economic growth in the region.

"Dr Bollard's astute management of financial and economic policy and experience running policymaking institutions, even during volatile times, adds value to APEC's shared commitment to sustainable growth and development," says Russian Deputy Foreign Affairs Minister Igor Morgulov, who is chairing the APEC 2012 senior officials summit in Vladivostok.

"His leadership will help guide APEC's work to advance its agenda to boost trade and recovery."

APEC was set up in 1989 as a means to facilitate free and open trade across the region and last year leaders threw their weight behind the controversial Trans-Pacific Partnership, a deal which aims to align regulatory settings in a region-wide block to reduce the barriers and costs of trade.

Dr Bollard says he will work closely with China, the Philippines and Indonesia over the next three years, which will be hosting the annual meetings during his tenure.

Leaders of the 21 APEC member nations have converged on Vladivostok in the Russian Far East for this year's meeting.

New Zealand Prime Minister John Key is expected to criticise agriculture subsidies in the US, Japan and Europe when he opens the summit as the first political leader to speak.