Optimism on investment code still strong among officials<\/p>\n
JAKARTA (JP): Senior officials of the Asia-Pacific Economic
\nCooperation (APEC) forum remained upbeat yesterday that they can
\nstill hammer out an agreement on investment guidelines in spite
\nof opposition from the United States.<\/p>\n
The opening day of the APEC Senior Officials Meeting (SOM)
\nyesterday picked up the question of non-binding investment
\nprinciples, which stumbled when it was discussed by the Committee
\non Trade and Investment here on Monday.<\/p>\n
\"Nothing is completed on that issue. But, we have still two
\ndays for discussion on the possibility of its adoption,\" Wisber
\nLoeis, the Director General for Foreign Economic Relations at the
\nIndonesian Ministry of Foreign Affairs, said at the conclusion of
\nthe first day of SOM.<\/p>\n
\"I cannot give my view on the possibility of the adoption,
\nbecause the issue is still under process. But I am strongly
\noptimistic on that,\" Wisber, who chaired the SOM, told reporters.<\/p>\n
Wisber stressed that the United States should not be blamed
\nfor the prolonged discussion. \"The time-consuming discussion is
\nnot caused by the United States. It is mainly because SOM is also
\na forum in which all parties can express their policy.\"<\/p>\n
The committee on trade and investment agreed on nine of the 12
\npoints stipulated in the Non-Binding Investment Principles
\ndocument. The U.S. delegation objected to three items,
\nrespectively on national treatment, performance requirement, and
\nrepatriation and convertibility.<\/p>\n
Committee Chairman Sun Joun Yung of South Korea said Nancy
\nAdams, who headed the U.S. delegation, \"has no authority to
\naccept the package as a whole\".<\/p>\n
Tonny Miller, director general of Hong Kong's trade, is also
\noptimistic on an eventual agreement on the principles. \"I'm
\nreasonably confident that we can reach agreement by the end of
\nthis SOM. We are now very close to an agreement,\" he told The
\nJakarta Post.<\/p>\n
Krirk Kirkjlan, Thailand's director general for economic,
\nbusiness and trade, said he does not think that the United States
\nwill change its mind on the objection to the three items in CTI's
\nprinciples. \"But, I hope that the issue will be adopted at the
\nministerial meeting. It is because the APEC meeting is a
\nconsensus forum,\" he said. \"The U.S. can't go alone,\" he added.<\/p>\n
Report<\/p>\n
The investment committee yesterday reported to the SOM on five
\nadministrative measures to be considered by APEC members.<\/p>\n
These measures are customs formalities and charges; existing
\nnational and international disciplines and practices or
\nadministrative measures adversely affecting trade; sanitary and
\nphytosanitary regulations; technical standards and certification;
\nand anti-dumping policies.<\/p>\n
The committee also reported that it has agreed to proceed with
\na pilot project to distribute CD-ROMs containing current tariff
\nand tariff-related data, free of charge to businesses and
\ngovernments in all APEC member economies.<\/p>\n
The pilot project will be used to determine whether there is
\nsufficient demand to justify regular distribution of CD ROMs
\ncontaining such data, according to the report.<\/p>\n
The committee is also recommending that APEC ministers endorse
\nthe proposed declaration on APEC Standards and Conformance
\nFramework and direct the committee to pursue a work program aimed
\nat developing arrangements for mutual recognition of conformity
\nassessment. (fhp\/mds)<\/p>",
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