PBF presents report to ministerial meeting<\/p>\n
JAKARTA (JP): The Pacific Business Forum (PBF) presented a
\nreport yesterday to the APEC ministerial meeting recommending
\npolicy changes needed to sustain regional growth in four major
\nareas.<\/p>\n
One recommendation, considered by many economists as too bold
\nand too ambitious, calls for free trade and investment
\nliberalization in APEC economies for its developed members by
\n2002 and for all its members by the year 2010.<\/p>\n
The report, presented by PBF co-chairmen Bustanil Arifin of
\nIndonesia and Les McCraw of the United States, also calls for the
\nfacilitation of existing and future businesses, the development
\nof a business and human resource support mechanism and a new
\npartnership between business and government in a number of areas.<\/p>\n
\"We want to be able to do business in each others' economies
\neasily, simply and under a clear set of rules and regulations
\nthat are equally and fairly applied,\" McCraw, also Chairman of
\nFluor Corp. noted.<\/p>\n
The PBF, established last June at the request of the APEC
\nleaders at their first summit on Blake Island, the U.S., in
\nNovember, 1993, consists of 33 representatives from member
\neconomies.<\/p>\n
The forum was assigned to identify issues APEC should address
\nto facilitate regional trade and investment and to encourage the
\nfurther development of business networks throughout the region.
\nIt submitted its report to President Soeharto, Chairman of APEC,
\nearly last month.<\/p>\n
The proposed final deadline for free trade and investment
\nliberalization, as proposed by PBF, is 10 years earlier than the
\nyear 2020 recommended by the Eminent Persons Group (EPG).<\/p>\n
\"If these dates sound aggressive and seem out of reach, let
\nthem at least symbolize for you the sense of urgency within the
\nbusiness community,\" McCraw told the foreign and trade ministers.<\/p>\n
For the private sector, he added, achieving free trade and
\ninvestment liberalization cannot come too soon.<\/p>\n
McCraw told a news conference later that \"the datelines should
\nbe interpreted as a signal to our governments to move forward and
\nfaster.<\/p>\n
Bustanil, chairman of Indonesia's Berdikari business group,
\ncalled on the business community in the APEC region not to worry
\nabout the policy changes recommended by the PBF.<\/p>\n
Unnecessary<\/p>\n
\"Any sense of insecurity or even anxiety regarding the
\ndirection and nature of change in the region as proposed by the
\nPBF is unnecessary.<\/p>\n
The PBF report says that unless bold steps are taken this year
\ntowards free trade and investment liberalization, the region will
\nbe unable to sustain current economic growth levels.<\/p>\n
The PBF's recommendations, which in substance are very similar
\nto those made by the EPG, also call for the adoption of a non-
\nbinding APEC investment code and an immediate standstill on new
\ntrade and investment barriers.<\/p>\n
It also suggests the establishment of a dispute settlement
\nmechanism, the promotion of business ethics and small and medium
\nenterprises and a comprehensive plan for region-wide
\ninfrastructure development.<\/p>\n
Commenting on the report, Australian Foreign Minister Gareth
\nEvans said yesterday that his country saw the 2020 date as
\nproposed by the EPG as more realistic than the PBF's 2010
\ndeadline.<\/p>\n
\"But whatever the date may be it is essential in our view that
\nthere be a specific date identified if any commitment made is to
\nbe seen as real,\" Evans added.(vin)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/pbf-presents-report-to-ministerial-meeting-1447893297",
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"sponsor": "Okusi Associates",
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