[asia-apec 1468] Vaile on APEC & business

[APEC Monitoring Group]

Media release
Australian Minister for Trade, Mark Vaile
Monday, June 5, 2000
MVT60/2000

APEC Gets Results for Business
Trade Minister, Mark Vaile, today launched a new booklet highlighting APEC's achievements for business.

Speaking on the eve of the APEC Trade Ministers' Meeting in Darwin (June 6-7) Mr Vaile said Australian exporters were winners from the cost and time savings delivered by APEC. 

Mr Vaile said the booklet - APEC: Getting Results for Business - clearly demonstrated that APEC's business facilitation work was cutting through the red tape that added significantly to the cost of doing business in the Asia-Pacific region.

"The key to APEC's success is its strong partnership with business. APEC is working closely with business to identify obstacles to trade and investment and to put in place practical measures to reduce or remove them," said Mr Vaile.

The booklet covers 10 areas identified by business as priority areas for action by APEC including: customs, product standards, energy, fisheries, telecommunications, electronic commerce, business travel, banking, automotive and government procurement.

"As a result of APEC's work, customs processes have been simplified allowing goods to be processed in minutes instead of weeks, business travel speeded up, domestic financial systems strengthened, and manufacturers of electrical goods will avoid multiple testing and inspection costs," Mr Vaile said.

"Also APEC's work in e-commerce and telecommunications will help small and medium sized businesses gain easier access to information needed to crack new markets."

The 21 APEC economies accounted for 73 per cent of Australia's merchandise exports in 1999. APEC comprises: Australia, Brunei, Canada, Chile, China, Hong Kong (China), Indonesia, Japan, Republic of Korea, Malaysia, New Zealand, Papua New Guinea, Peru, Philippines, Russian Federation, Singapore, Chinese Taipei, Thailand, US, and Vietnam.