[asia-apec 491] Re: WTO: APEC meeting pursues freer trade despite crisis

[Gatt Watchdog]

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From: "Mark Ritchie" <mritchie at iatp.org>
Subject: WTO: APEC meeting pursues freer trade despite crisis
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>Date: Fri, 26 Jun 1998 00:18:43 -0700
>To: mritchie at iatp.org
>Subject: WTO: APEC meeting pursues freer trade despite crisis
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>                APEC meeting pursues freer trade despite crisis
     
>                             (Kyodo News; 06/22/98)
     
>
>KUCHING, Malaysia, June 22 (Kyodo) -- The Asia-Pacific Economic Cooperation  
>(APEC) forum reaffirmed Monday trade liberalization is a major task for the  
>group amid the economic turmoil affecting the region.
>
>Some members were concerned that Malaysia, which is chairing a two-day
meeting  
>of the forum and is among the worst-hit by the crisis, was hijacking the
talks  
>by diverting them from discussion of trade liberalization to the financial  
>crisis.
>
>At a news conference after the first-day session Monday, Malaysian  
>International Trade and Industry Minister Rafidah Aziz said APEC members
could  
>not ignore what was happening in the region.
>
>She also said she was trying to dispel the notion that affected countries  
>should stop functioning as APEC member economies, adding there are ways
that  
>APEC can provide assistance.
>
>Rafidah said the impact of trade liberalization was on the agenda for Monday.
>
>Looking back on Monday's meeting, Rafidah said five member economies,
including 
> Malaysia, have presented for review their Individual Action Plans (IAPs)
to  
>liberalize trade and investment.
>
>On the Collective Action Plans (CAPs), meanwhile, she said that apart from
the  
>80 activities underway to promote trade facilitation in areas including
customs 
> standards, business mobility, services and investment, over 30 more are  
>expected to be realized this year that will help reduce transaction costs
and  
>facilitate business activity.
>
>APEC is promoting regional trade liberalization through IAPs, steps taken
by  
>each member economy, and CAPs, measures jointly taken by its members.
>
>Electronic commerce was also on Monday's agenda, with the ministers
endorsing  
>plans to develop possible principles on electronic transactions and a
program  
>on technical cooperation to address the millennium bug problem.
>
>The problem involves older computer programs that recognize years only by
their 
> last two digits and are accordingly expected to misread the year 2000 as
1900, 
> with potentially far-reaching consequences.
>
>Australia and Singapore are co-chairing the task force on electronic
commerce.
>
>On Tuesday, the ministers are expected to deliberate on the Early Voluntary  
>Sectoral Liberalization (EVSL) scheme.
>
>Under a two-tiered schedule, APEC aims to achieve free trade by the year
2010  
>for developed economies and by 2020 for developing economies.
>
>By launching the EVSL scheme, APEC is seeking to implement trade
liberalization 
> of some business sectors earlier than the 2010/2020 target years.
>
>Altogether, 15 sectors have been approved under the EVSL scheme, nine of
them  
>to be implemented by next year. The nine are environmental goods and
services,  
>fish products, forest products, medical equipment, energy, chemicals, toys,  
>gems and jewelry and a telecommunications mutual recognition agreement.
>
>Rafidah said that from the beginning, APEC member economies have had an  
>understanding that not everyone in the grouping will participate in the
scheme. 
> But she said that while Malaysia especially has always considered APEC
goals  
>nonbinding, there were enough members ''coming on board to make it a
reality.''
>
>Rafidah said the trade ministers' meeting will also discuss how to bring
the  
>liberalization packages to the World Trade Organization (**WTO**).
>
>''We want to know whether they can be effected within the **WTO**. This is
the 
>next  stage,'' she said.
>
>APEC groups Australia, Brunei, Canada, Chile, China, Hong Kong, Indonesia,  
>Japan, South Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, the  
>Philippines, Singapore, Taiwan, Thailand and the United States.
>
>The three member-designate economies -- Peru, Russia and Vietnam -- are
also  
>participating in the meeting and will make presentations.
>
>-0-
>
>{C:Kyodo-0622.02572}   06/22/98
>
>
>
>
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Mark Ritchie, President
Institute for Agriculture and Trade Policy
2105 1st Ave. South,   Mpls, MN 55404 USA
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mritchie at iatp.org      http://www.iatp.org