Ministers' opinions mixed on APEC ground rules<\/p>\n
By Prapti Widinugraheni<\/p>\n
MANILA (JP): Malaysian Minister of International Trade Rafidah
\nAziz reiterated yesterday the need for \"flexibility\" within the
\nAsia Pacific Economic Cooperation (APEC) forum, given the wide
\neconomic disparity between its members.<\/p>\n
Rafidah said that imposing a particular rule or perception has
\nnever been the forum's method of operating.<\/p>\n
Unlike the World Trade Organization, she said, APEC should not
\nbe used for negotiations, for imposing sanctions or for making
\nrules.<\/p>\n
\"You can't have anything binding in APEC. Period,\" she told
\nreporters after speaking at the first-day of the APEC Business
\nForum.<\/p>\n
The two-day business forum, which is held parallel to a
\nmeeting of APEC ministers, is being attended by more than 500
\nchief executive officers of major companies based in APEC member
\neconomies.<\/p>\n
APEC groups Australia, Brunei, Canada, Chile, China, Hong
\nKong, Indonesia, Japan, Malaysia, Mexico, New Zealand, Papua New
\nGuinea, the Philippines, Singapore, South Korea, Taiwan, Thailand
\nand the United States.<\/p>\n
Rafidah said member economies used APEC as a means to exchange
\nideas and views on how each member could reach a common goal set
\nout by APEC leaders in 1993.<\/p>\n
That year, the leaders agreed to achieve free and open trade
\nand investment in the region by 2010 for developed economies and
\n2020 for developing economies.<\/p>\n
Rafidah said that after three APEC leaders' meetings, she now
\nsensed a \"deeper feeling\" of solidarity among APEC member-
\neconomies.<\/p>\n
She considered members now had a \"greater understanding\" about
\nthe economic dissimilarities that the forum must accommodate and
\nappreciates the fact that different situations require different
\napproaches.<\/p>\n
Earlier yesterday, Japanese Minister of International Trade
\nand Industry Shinji Sato warned that APEC should follow up on its
\n\"voluntary approach\" method to counter the critics who argue that
\nrigid rules and legalities are the only effective means to deal
\nwith economic issues in the region.<\/p>\n
He said APEC's adoption of a voluntary approach to reaching
\nits goals should now be seen as a challenge to each member-
\neconomy.<\/p>\n
\"APEC's unique consensus is the principle of concerted
\nunilateral liberalization... However, it hardly needs saying that
\nthe adoption of voluntarism is also a challenge to ourselves,\" he
\nsaid.<\/p>\n
\"Should we not produce adequate results on the basis of the
\nAPEC spirit of voluntarism, it will be difficult to counter those
\nwho argue that a more traditional approach based on negotiation
\nand deals is more effective,\" Sato said.<\/p>\n
He said the formulation of the Manila Action Plan -- which
\nwill be endorsed by APEC leaders next week -- should be followed
\nby establishing a means to ensure the action plan's steady
\nevolution.<\/p>\n
Sato suggested that APEC economies advance cooperation among
\ntheir export credit agencies to promote private sector investment
\nin infrastructure.<\/p>\n
\"Export credit agencies are subsidy free; they simply handle
\nrisk,\" he said, adding that this way \"the risks which should be
\ntaken on by governments are borne by governments and the risks
\nwhich the private sector should deal with are dealt with by the
\nprivate sector\".<\/p>\n
He also suggested APEC initiate a \"full-scale effort\" to
\nimprove the investment climate in the region.<\/p>\n
\"The Japanese government sees the development of the
\ninvestment principles into a more exact and transparent form as a
\ntop-priority issue in this year's APEC meetings,\" Sato said.<\/p>\n
Sato also proposed the creation of a mechanism for the \"clear
\nassimilation\" of private sector opinions to improve the Manila
\nAction Plan -- which will be approved by APEC leaders next week
\n-- and the individual action plans of each member economy.<\/p>",
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