APEC dialogue sought to speed up tariff-free trade
APEC dialogue sought to speed up tariff-free trade
SINGAPORE (AFP): A select group of Asia-Pacific Economic Cooperation (APEC) forum leaders should hold a dialogue before their formal summit on Osaka in November to speed up the creation of tariff-free trade among Pacific Rim economies, a senior U.S. official suggested yesterday.
Sandra Kristoff, coordinator for APEC affairs at the U.S. state department, said the dialogue could comprise "like-minded" leaders, such as U.S. President Bill Clinton, Australian Prime Minister Paul Keating, Indonesian President Soeharto, South Korean President Kim Young Sam and Philippine President Fidel Ramos.
"They could begin to work together earlier than the meeting (summit) itself to ensure that their wishes, views and political will are captured by the APEC bureaucrats," she told reporters after a business meeting here.
But Kristoff made it clear that the "dialogue among like- minded leaders" was not a formal U.S. proposal but "merely a suggestion."
She also suggested that an unprecedented meeting of trade ministers within APEC be held before the summit to "vet" whatever trade and investment liberalization measures are to come up before the leaders.
Leaders of the 18 APEC economies at their second annual summit last year, in Bogor, Indonesia, agreed to work towards "free and open trade and investment in the Asia-Pacific" no later than 2020, with industrialized members meeting the target a decade earlier.
APEC comprises Brunei, Australia, 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.
Action
APEC officials said they were currently working towards formulating a conceptual structure for an action agenda for liberalizing free trade to be forwarded to the leaders attending the Osaka Summit.
But Kristoff said: "At this point, APEC discussions seem to be focussed on process rather than substance. We have to be careful this year in producing the Osaka document, which is different because it is not a political declaration like that in Bogor."
She said the results of the Osaka summit should be "a real commitment at a level worthy of leaders."
"It is important to keep our eye on the ball for substance rather than on process. One way to prod that would through (a dialogue) among the like-minded leaders," Kristoff said.
She said there was some consensus last year that there was not enough transparency in the process towards previous APEC summits.
"To address these concerns, it is important documents that go to leaders have the real commitment vetted by the trade ministers," Kristoff said, suggesting a September date for the ministers.
The tradition so far is for a ministerial meeting of the grouping, some of whom are trade ministers, to precede APEC summits
On whether the latest U.S.-Japan trade dispute would cast a cloud on APEC, Kristoff said: "At worst, it will be a dampening effect. I think APEC leaders will be able to get over this one single event between the U.S. and Japan."
Asked to clarify what she meant by dampening effect, she said: "It will have an impact on Japan's ability among ministries to put together positions as they go towards Osaka."
The U.S. is set to impose 100 percent tariffs on Japanese luxury car imports in retaliation for Japan's failure to agree on measures to open its car and car-parts markets.
Japan has taken the United States to the World Trade Organization over its unilateral measure.
Kristoff said Malaysia, which she visited prior to her trip here, was among Asian nations that have expressed concern that the U.S.-Japan auto dispute would have an impact on their auto trade.