The 2012 APEC summit in Vladivostok has achieved all the goals set for it and the business community has received the necessary signal, Russian President Vladimir Putin said on Sunday.

“We believe that the tasks set by the summit in Vladivostok have been fully achieved," Putin said at the summit's concluding new conference. "We managed not only to preserve the continuity of APEC activities, but to set new horizons and most importantly give a positive signal to business circles.”

This is the first time Russia, an APEC member since 1998, has hosted the summit of the group, created in 1989 to promote economic cooperation in the Pacific Rim.