APEC accepts U.S. offer on social safety
APEC accepts U.S. offer on social safety
SINGAPORE (Dow Jones): The Asia-Pacific Economic Cooperation
has accepted a U.S. offer to explore how member countries can
cooperate to provide social safety provisions to crisis-stricken
countries, a senior official said on Friday.
Speaking to reporters following a two-day preparatory senior
officials meeting, APEC senior official Maarten Wevers said the
organization plans to give high priority to this area in the
light of Asia' s economic crisis.
The U.S. has yet to offer a structured proposal on the issue,
given the parameters and scope have yet to be defined, Wevers
said. But, he added that a proposal would explore mechanisms to
deliver services related to education, health and housing in
times of crises.
Wevers said the proposal by the U.S. is expected to be worked
on by a task force ahead of APEC meetings in February, which New
Zealand will chair.
The recent two-day meeting in Singapore also reflected APEC's
desire to "hit the ground running" before the next meeting in New
Zealand next year on tasks and directions set in Kuala Lumpur
last month during the economic leaders' meeting and joint
ministerial meeting.
On the early voluntary sector liberalization, or EVSL program,
Wevers said the organization is looking at how to broaden support
within the framework of the World Trade Organization. He said
it's still too early to comment on support for the package,
adding that it's less than two months before senior officials
next meet.
At APEC's 1997 summit in Vancouver, under the EVSL package, it
was proposed that tariffs on environmental goods and services,
fish and forestry products, medical equipment,
telecommunications, energy, toys, gems and jewelry, and chemicals
be lifted before 2005.
Wevers also said that officials agreed in Singapore to
commission the Pacific Economic Cooperation Council to assess the
progress so far by member countries on their individual action
plans.
While Wevers said he couldn't comment on the work program of
finance ministers, he said discussions are underway among the
Group of 22 nations on such issues as international capital
markets and the operation of hedge funds.
The meeting in Singapore, which also saw agreement on priority
being given to initiatives to cope with the financial crisis, saw
for the first time new members Peru, Russia and Vietnam
participating at the senior official level, he added.