APEC Business Forum seeks to form new advisory body
APEC Business Forum seeks to form new advisory body
TOKYO (AFP): Business advisers to the Asia Pacific Economic Cooperation (APEC) forum said on Saturday they wanted to establish a new body to make independent proposals to the association.
"We want to establish an APEC business council to integrate the Asia-Pacific business community's views into the APEC process," said Minoru Murofushi, co-chairman of the 1995 Pacific Business Forum (PBF) and president of Japanese trading house Itochu Corp.
"The council will act as an independent voice of the APEC business community," Murofushi said at a news conference after a two-day meeting here.
The PBF consists of two representatives -- of large and small businesses -- from each APEC member country. It was appointed by the APEC leaders in 1994 to advise them on trade and investment liberalization and cooperation in the region.
The planned APEC Business Council would have a wider brief.
Murofushi said it would "provide direct input on business issues to APEC economic leaders," in the form of annual recommendations. It would comprise two representatives from each member country, to be appointed by APEC leaders.
Meanwhile, the PBF will urge the leaders to adopt concrete goals and firm deadlines for removing trade barriers in the region, such as setting specific timetables for completing customs standardization and for introducing an APEC business visa and then facilitating APEC-wide visa-free travel.
"We are setting out ambitious but clear timetables," Murofushi said.
The PBF will meet again in Newport Beach, California, on September 1-2 to finalize its report, due to be submitted to Japanese Prime Minister Tomiichi Murayama in September in time for the APEC summit in Osaka in November.
"This year I would assure you that we will come up with a solid report, which will represent the expectation of business for APEC," said Bustanil Arifin from Indonesia, co-chairman of the PBF.
APEC groups Australia, Brunei, Canada, Chile, China, Hong Kong, Indonesia, Japan, South Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, the Philippines, Singapore, Taiwan, Thailand and the United States.