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.