APEC officials head for free trade accord<\/p>\n
OSAKA, Japan (AFP): Senior officials of the Asia Pacific
\nEconomic Cooperation (APEC) forum yesterday tied up loose ends
\nfor a last-minute accord on free trade as differences between
\nBeijing and Washington threatened to spill over into ministerial
\ntalks.<\/p>\n
The summit's success had been threatened by differences over
\nthe treatment of sensitive sectors such as agriculture, which
\nsome members wanted to exempt from the agreement.<\/p>\n
A senior official said the latest draft, agreed after a one-
\nand-a-half day informal meeting, removes references to
\n"differential treatment" and "sectoral specificity," code words
\namong international trade negotiators for agriculture.<\/p>\n
The official, who asked not to be named, said the new draft,
\nwhile continuing to emphasize the need for flexibility in
\nliberalizing trade and investment, also took into account
\n"diverse circumstances" among APEC members.<\/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>\n
Tony Miller, director general of Hong Kong's trade department,
\nsaid the flexible approach would not undermine the spirit of the
\nBogor declaration.<\/p>\n
"We don't regard flexibility as something which is going to in
\nany way inhibit the comprehensive nature of this exercise,"
\nMiller told reporters.<\/p>\n
"The whole liberalization process is to be conducted in
\naccordance with the Bogor declaration, which specifies non-
\ndiscrimination and in particular open regionalism," Miller said.<\/p>\n
But despite broad agreement on the latest draft, dispute
\nemerged between China and the U.S. over the application of non-
\ndiscriminatory trade.<\/p>\n
"There is still a wide gap between China and the United
\nStates," Japanese trade and industry minister Ryutaro Hashimoto
\ntold reporters, adding: "This issue will most likely have to be
\ndealt with by the ministers."<\/p>\n
The dispute relates to China's Most Favored Nation (MFN)
\nstatus, annually reviewed by the U.S. as required for communist
\ncountries by its laws.<\/p>\n
Beijing wants the non-discriminatory rule applied to all APEC
\nmembers,, including itself.<\/p>\n
Under an agreement reached by APEC leaders last year at a
\nsummit in Bogor, Indonesia, industrialized members are supposed
\nto achieve free and open trade and investment in the region by
\n2010 with developing members following by 2020.<\/p>\n
Japan and a minority of the group's 18 members including
\nChina, South Korea and Taiwan had been seeking special treatment
\nfor sensitive sectors such as agriculture.<\/p>\n
Other members including Australia, Canada, Hong Kong, New
\nZealand, Singapore, Thailand and the U.S. argued that any such
\nconcession could lead to exceptions in a multitude of other
\nareas.<\/p>\n
The senior official said South Korea was still unhappy with
\nthe lack of allowances for agriculture in the draft, but
\nindicated Taiwan had accepted the compromise and hinted Japan was
\nready to accept.<\/p>\n
Hasmimoto, however, suggested there was still work to be done.
\n"We still have some troublesome problems," Hashimoto said.<\/p>\n
"We agreed to comprehensiveness in Bogor last year, but we did
\nnot agree to specific sectors," he said.<\/p>\n
Japanese officials said Hashimoto had told Rizalino Navarro,
\nPhilippines' trade and industry secretary, "there is still room
\nfor further discussions" between members before the ministerial
\nmeeting, which formally begins tomorrow.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/apec-officials-head-for-free-trade-accord-1447893297",
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"sponsor": "Okusi Associates",
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