The message, loud and clear<\/p>\n
There is, we think, a strategic reason why the APEC economic
\nleaders went to such length in their Bogor declaration to
\nelaborate the thoughts and rationale underlying their agreement
\non free and open trade and investment in the region and the
\nphases and principles in which the goal will be achieved. The
\nleaders wanted to remove any doubts among countries outside the
\nregion as to what APEC member economies will create and to end
\ndebates within the forum itself about what would be the character
\nof the free trade.<\/p>\n
The message about the free and open trade and investment
\nliberalization, as explained in the 11-point declaration, is very
\nloud and clear. The free trade concept the 18 economies will
\ndevelop is fully based on the GATT\/World Trade Organization
\nrules. It will be an open regionalism and not an inward-looking,
\nclosed trading bloc. In fact, the leaders went further by
\ndeclaring that APEC will take the lead in strengthening the open
\nmultilateral trading system, deepening and broadening the outcome
\nof the Uruguay Round of GATT negotiations. They agreed to a
\nstandstill under which they will endeavor to refrain from using
\nmeasures which would have the effect of increasing levels of
\nprotection.<\/p>\n
The message, in our view, is very important to put a complete
\nend to the endless debates since late last year about the
\ncharacteristics or nature of the vision of trade and investment
\nliberalization which was created by the APEC leaders in Seattle
\nlast November.<\/p>\n
Now APEC, under the new chair (Japan), should immediately get
\non the job of designing what American President Bill Clinton
\ncalled a blueprint for the visionary concept. Hopefully, the
\nthird informal summit next year in Osaka would be able to adopt
\nthe blueprint to kick off the movement towards free trade in the
\nregion.<\/p>\n
Due to the fact that Indonesia, as the chair and the host of
\nthe most recent APEC conference, took much of the initiative to
\nhave the timetable for free trade and investment agreed on at
\nBogor, it is duty bound to set an example of moving towards trade
\nand investment liberalization. Otherwise it will run the risk of
\nbecoming the subject of jokes among the other APEC members.<\/p>\n
The consequence is that Indonesia's deregulation drive should
\nbe accelerated, new measures that would increase the levels of
\nprotection should be prevented and procedures and rules that
\nhinder the flows of goods, services and capital should be
\nremoved.<\/p>\n
All that, we think, is a monumental challenge to the
\ngovernment which, judging from our past experiences, is often
\ninconsistent with the spirit of its pronounced deregulation and
\nprivatization programs due to strong lobbying from businessmen
\nwith powerful political connections.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/the-message-loud-and-clear-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}