APEC drafts Manila summit action plan
APEC drafts Manila summit action plan
MANILA (AFP): More than 500 senior officials from the 18- member countries of the Asia Pacific Economic Cooperation (APEC) began yesterday a crucial two-day forum to draw up action plans to be presented at the APEC summit here in November.
The officials face the daunting task of consolidating at least 1,512 specific plans of action for trade and investment liberalization to be submitted by APEC members, said Foreign Affairs undersecretary Federico Macaranas, who opened the meeting.
This conference, the first of four senior officials' meetings to be held here prior to the November summit, will set the guidelines for drafting collective and individual action plans.
These plans will form the Manila Action Plan for APEC, which is expected to further last year's Osaka Declaration that laid the groundwork for the opening of free trade among developed member economies by 2010 and for developing members by 2020.
Despite the tight schedule, officials hope to discuss the establishment of an APEC business advisory council, and a "dispute mediation service", Macaranas added.
APEC groups Australia, Brunei, Canada, Chile, China, Hong Kong, Indonesia, Japan, Malaysia, Mexico, New Zealand, Papua New Guinea, the Philippines, Singapore, South Korea, Taiwan, Thailand, and the United States.
Meanwhile, U.S. officials said in Washington Tuesday that the United States will conduct a study of trade barriers among Pacific Rim countries with an eye toward liberalizing trade and investment.
The International Trade Commission said it will carry out a study of the Asia-Pacific Economic Cooperation forum countries requested by U.S. Trade Representative Mickey Kantor.
Washington is evaluating U.S. participation in the APEC process in 1996.
The trade commission will also examine tariff liberalization in areas with a high percentage of trade among APEC nations.
The main report will be delivered to Kantor on May 31, with some parts due earlier. The ITC said it will seek information from industry officials, trade associations and other parties.