APEC free trade pact is on track, Australia says<\/p>\n
CANBERRA (Reuter): Moves to implement APEC's free trade plan
\nare back on track although agreement on key issues has yet to be
\nreached, Australian Trade Minister Bob McMullan said yesterday.<\/p>\n
He said Australia remained confident that leaders of the Asia-
\nPacific Economic Co-operation forum, due to meet in the Japanese
\ncity of Osaka in November, would agree to a blueprint on
\nimplementing the plan.<\/p>\n
"Consensus has still to be reached on some of the key details
\nbut a blueprint has been developed," he told an APEC ministerial
\nmeeting on small and medium enterprises in Adelaide.<\/p>\n
He rejected Australian media reports of major rifts among APEC
\nmembers over whether to include all industries in the free trade
\nplan.<\/p>\n
"It would be naive to assume that 18 very diverse economies
\ncould agree unanimously and instantaneously on everything,"
\nMcMullan said.<\/p>\n
"Future headlines will show that progress in APEC is back on
\ntrack."<\/p>\n
Some APEC members, including Japan, have spoken out against
\nincluding all sectors, particularly agriculture, in the ambitious
\nagreement reached at last year's summit.<\/p>\n
This would scrap trade barriers by 2020 for developing
\ncountries and by 2010 for industrialized members.<\/p>\n
Australia, a driving force in the group, says total coverage,
\nknown in APEC jargon as comprehensiveness, is essential to the
\nsuccess of the free trade agreement.<\/p>\n
"I remain confident that we will secure a good result on the
\nprinciple of comprehensiveness at the Osaka leaders' meeting,"
\nMcMullan said.<\/p>\n
APEC groups Australia, Brunei, Canada, Chile, China, Hong
\nKong, Indonesia, Japan, South Korea, Malaysia, Mexico, New
\nZealand, Papua New Guinea, the Philippines, Singapore, Taiwan,
\nThailand and the United States.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/apec-free-trade-pact-is-on-track-australia-says-1447893297",
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