Leaders hail free trade pact, Mahathir has reservation<\/p>\n
JAKARTA (JP): Most APEC leaders praised the Bogor declaration
\nyesterday but Malaysia registered some reservations.<\/p>\n
Australia's Paul Keating called the declaration \"an
\nextraordinary new path for the Asia-Pacific region toward
\nextraordinary goals.\"<\/p>\n
\"The significance of this commitment is enormous,\" he told a
\npress conference at the Grand Hyatt hotel. \"It is stronger than
\nthat made by parties to the GATT or by G7 countries. \"<\/p>\n
Keating paid tribute to the APEC chairman.<\/p>\n
\"It is no accident that pressure is coming from Asia for
\nfurther global trade liberalization. The fact that President
\nSoeharto, the leader of one of the world's largest developing
\ncountries, has taken the initiative is a sign of the fundamental
\ntransformations which are taking place in the world economy.\"<\/p>\n
Japan's Tomiichi Murayama, whose country will take the APEC
\nleadership on Jan. 1, announced that he would immediately begin
\nplanning an action agenda for APEC.<\/p>\n
Murayama mentioned that a member had some reservations about
\nthe declaration but said, \"at the end of the discussion, Soeharto
\nwrapped it up, saying that the declaration would be accepted by
\nall.\"<\/p>\n
Japan also proposed enhancing cooperation by combining the
\nattributes of each member. Japan, he added, also stressed
\ncooperation for the cultivation of small and medium enterprises.<\/p>\n
China's Jiang Zemin said his country was looking at the
\nbenefits from the Bogor declaration in the future. \"We endorse
\nthe Asia Pacific regional trade and investment liberalization and
\nthe long-term objective.\"<\/p>\n
He warned that given the diversity within APEC, liberalization
\nshould proceed in phases. \"There should be different timetables
\naccording to each member's (conditions),\" he said.<\/p>\n
Malaysia's Mahathir Mohamad is due to give a press briefing
\ntoday but his delegation issued a statement expressing
\nreservations about the declaration.<\/p>\n
\"The target dates of 2020 and 2010 are indicative dates and
\nnon-binding on member economies,\" said the statement.<\/p>\n
\"The liberalization process to be undertaken will be on a best
\nendeavor basis,\" it said. \"APEC member economies will liberalize
\ntheir trade and investment regime based on their capacity to
\nundertake such liberalization commensurate with their level of
\ndevelopment.\"<\/p>\n
Malaysia called for the termination of the APEC mandate to the
\nEminent Persons Group and, in an apparent jab at United States
\nand other Western countries in APEC, said \"APEC member economies
\nshould, as a matter of priority, ratify the World Trade
\nOrganization and implement the Uruguay Round results.\"<\/p>\n
Canada's Jean Chretien described the Bogor result as \"a very
\nsolid declaration.\"<\/p>\n
\"The unanimity was very good, the mood was very positive ...
\neverybody recognized that growth is sustained by reduction of
\ntariffs and more trade,\" Chretien said.<\/p>\n
Hong Kong's Hamish MacLeod hailed the leaders' endorsement in
\nspite of the diversity in the level of economy of APEC members.<\/p>\n
\"This diversity is both an opportunity and a challenge. It is
\nan opportunity to demonstrate how free trade between different
\nand complementary economies can produce significant gains for
\nall. It is a challenge in that we must find ways of accommodating
\nour differences as we move towards the goal,\" MacLeod said.<\/p>\n
He said even the newly-industrialized countries held different
\nviews on the deadline. \"I think they can choose whether they will
\nimplement the free trade either earlier by 2010 or later by
\n2020,\" he added. (pan\/ego\/pwn\/fhp)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/leaders-hail-free-trade-pact-mahathir-has-reservation-1447893297",
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