Lima, Nov 23 (Prensa Latina) More than 30 leftist organizations in Peru have criticized the Asia-Pacific Economic Cooperation (Apec) forum for what they called introducing trade practices jeopardising interest of the farmers and increasing poverty.

A joint declaration by the youth bodies denounced the grouping of 21 Pacific Rim countries for fostering foreign investment that put domestic farmers and producers in unequal competition.

The policy of free trade and foreign investment has reduced Peru into an exporter of raw material and increased inequality in the country.

The declaration said Apec lacks social participation mechanisms, leaving regional institutions at the mercy of the multinationals.

The protesters called the grouping 'an instrument of transnational corporations and imperialist countries plundering domestic resources'.

A demonstration in the Peruvian capital against US President George W. Bush's visit to the country turned into a protest Friday by hundreds of laid-off workers and trade unions in conflict with local and foreign companies.

Lima is hosting the 16th summit meeting of the leaders of the Apec countries seeking ways to salvage the global economy from ongoing financial crisis.