Trade liberalization sought<\/p>\n
JAKARTA (JP): A business advisory group of APEC suggested here
\nSaturday that the forum accelerate trade and investment
\nliberalization, improve business facilitation, promote human
\nresource development and improve the government-business sector
\npartnership.<\/p>\n
\"The Pacific Business Forum (PBF) recommends that the
\nimplementation of free trade and investment liberalization in the
\nregion be completed by the year 2002 by the developed economies,
\nand no later than the year 2010 by the developing economies,\" a
\nco-chairman of PBF, Les McCraw of the United States, told
\nreporters after meeting with President Soeharto at Merdeka Palace
\non Saturday.<\/p>\n
He said the suggestion on the trade and investment
\nliberalization is part of the recommendations presented to
\nSoeharto, who is this year's chairman of the Asia Pacific
\nEconomic Cooperation (APEC) forum.<\/p>\n
The recommendations were contained in a report, entitled \"A
\nBusiness Blueprint for APEC,\" which was formulated by the
\nbusiness forum during its three meetings after its establishment
\nin June 1994.<\/p>\n
Co-chairman Bustanil Arifin of Indonesia said the
\nimplementation of the trade and investment liberalization program
\nmust be consistent with the principles of the General Agreement
\non Tariffs and Trade (GATT) or the World Trade Organization (WTO)
\nand pursued in parallel with multilateral action.<\/p>\n
PBF's recommendation on free trade is more progressive than
\nthat of APEC's Eminent Persons Group (EPG), which recommended in
\nAugust that all APEC members achieve free trade within the region
\nby 2020.<\/p>\n
Investment<\/p>\n
Recognizing that APEC economies are all competing for a
\nlimited number of foreign investment dollars, PBF is urging APEC
\nleaders to adopt the Asia Pacific Investment Code at their second
\nmeeting in Bogor, south of here, on Nov. 15, the report said.<\/p>\n
\"This code will assist in reducing uncertainties and
\ntransaction costs of investment and investment-related trade, as
\nwell as encouraging the development of informal, cooperative
\napproaches to resolving investment-related disputes,\" he said<\/p>\n
The report acknowledged that investment in some APEC economies
\nencounters by various impediments, including excessive approval
\nrequirements, limits on the share of ownership, mandatory
\npartnering and exporting, low standards for the protection of
\nintellectual property rights and monopolistic practices.<\/p>\n
To improve business facilitation, PBF recommended that APEC
\neconomies take measures to accelerate customs processing, such as
\nsimplifying customs documentation, using electronic means of
\ncustoms documentation and processing, developing an APEC
\nelectronic tariff database and harmonizing customs
\nclassification.<\/p>\n
The forum also suggested relaxing visa requirements,
\naccelerating visa processing, introducing visa-free entry
\nfacility for the citizens of other APEC members for short stays
\nand issuing temporary work permits for professional visits.<\/p>\n
To promote the protection of intellectual property rights,
\nAPEC economies should begin implementation of the Trade Related
\nIntellectual Property Issues (TRIPs) agreement as soon as
\npossible, develop credible enforcement with penalties and conduct
\npublic education, the forum said in the report.<\/p>\n
The forum also suggested that APEC leaders agree to establish
\nseparate regional mechanisms to settle commercial disputes
\nbetween businesses in APEC members through mediation and
\narbitration.<\/p>\n
Ethics<\/p>\n
PBF also recommended that APEC governments adopt a
\ntransparent, open style of administration to reduce opportunities
\nfor discretionary and discriminatory behavior and institute tough
\nlegal actions against corrupt practices, while businesses should
\nadopt better accounting and auditing methods to make it difficult
\nto hide corrupt practices.<\/p>\n
The APEC leaders are also expected to institute programs that
\nwill provide capital for small and medium enterprises and create
\nlinkages between large and smaller businesses.<\/p>\n
A comprehensive plan for region-wide infrastructure
\ndevelopment in key sectors should also be drawn up to promote
\ncooperation among member economies, the report said, adding that
\na meeting of ministers responsible for telecommunications
\npolicies should be held in 1995 to discuss information
\ninfrastructure development.<\/p>\n
McCraw said PBF is also suggesting that a permanent APEC
\nBusiness Advisory Forum be established to provide direct input on
\nbusiness issues to APEC leaders and make annual recommendations
\non improving the business environment in the region.<\/p>\n
Abdul Rachman Ramly, a member of PBF, said that President
\nSoeharto, who will preside over the Bogor leadership meeting,
\npromised to use the forum's report as a reference.<\/p>\n
APEC groups Australia, the United States, Canada, Mexico,
\nJapan, China, Hong Kong, Taiwan, South Korea, Indonesia, Brunei,
\nthe Philippines, Malaysia, Singapore, Thailand, Papua New Guinea
\nand New Zealand. Chile will join next month. (riz)<\/p>\n
Editorial -- Page 4<\/p>\n
Trade -- Page 10<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/trade-liberalization-sought-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }