APEC trade ministers meeting opens<\/p>\n
Agence France-Presse, Jeju, South Korea<\/p>\n
Trade ministers from the 21-nation Asia-Pacific Economic
\nCooperation (APEC) met here on Thursday for free trade talks as
\nglobal trade negotiations falter amid conflicts of interest.<\/p>\n
Organizers said the main agenda would include a fresh
\ncommitment by APEC to further trade liberalization under the Doha
\nnew round of free trade negotiations, as well as regional
\ncooperation in trade and investment.<\/p>\n
In 1994, APEC leaders at Bogor, Indonesia, set the goal of
\nreaching a free trade and investment agreement by 2010 for
\ndeveloped economies and by 2020 for developing economies<\/p>\n
However, an official close to APEC said these targets look
\nhard to meet.<\/p>\n
\"In order to meet the Bogor goals, it is crucial to facilitate
\ntrade in both goods and services, including e-commerce, and to
\nunify industrial standards among APEC members and ease
\nimmigration procedures for businessmen,\" he said.<\/p>\n
\"The endorsement of the Doha Development Agenda by APEC, which
\naccounts for 57 percent of the world's gross domestic product, is
\na key to success in the World Trade Organization (WTO)
\nnegotiations.\"<\/p>\n
The WTO's 148 members are trying to complete the Doha Round of
\ntrade liberalization after four years of stumbling talks.<\/p>\n
Members launched negotiations in the Qatari capital in 2001,
\naiming to further break down tariffs and other barriers to
\ncommerce and to try to use trade to give developing countries a
\nboost.<\/p>\n
But the WTO summit in Cancun, Mexico, collapsed in 2003 amid a
\nsplit between rich and poor countries although members have since
\nagreed to a loose deal to help drive the talks forward.<\/p>\n
WTO Director General Supachai Panitchpakdi has repeatedly
\nurged members to step up efforts to conclude their long-delayed
\ntreaty by 2006.<\/p>\n
By the end of next month, they hope to have shaped a wide-
\nranging accord to be put on the table at a ministerial meeting in
\nHong Kong in December.<\/p>\n
The two-day gathering in Jeju, a southern resort island of
\nSouth Korea, will also allow members to hold bilateral meetings
\non free trade agreements.<\/p>\n
U.S. Trade Representative Rob Portman is scheduled to meet
\nwith China's Commerce Minister Bo Xilai on Friday amid an
\nintensifying trade row over U.S.-imposed restrictions on Chinese
\ntextile exports.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/apec-trade-ministers-meeting-opens-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}