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.