APEC leaders to set dates on free trade

JAKARTA (JP): Leaders of the Asia Pacific Economic Cooperation (APEC) forum are expected to set dates for trade liberalization in the region during their second meeting in Bogor, south of here, today, Minister/State Secretary Moerdiono said.

"The determination of the dates will be very important for the implementation of trade liberalization among APEC economies," Moerdiono told reporters here yesterday after separate meetings between Soeharto and nine of APEC's 18 leaders taking part in the informal Bogor conference.

At the Merdeka Palace here, Soeharto held separate meetings for over six hours with Prime Minister Sir Julius Chan of Papua New Guinea, Prime Minister Chuan Leekpai of Thailand, Prime Minister Jean Chretien of Canada, Minister of Finance Sir Hamish MacLeod of Hong Kong, President Carlos Salinas of Mexico, Prime Minister Mahathir Mohamad of Malaysia, President Fidel Ramos of the Philippines, President Eduardo Frei of Chile and Prime Minister Paul Keating of Australia.

Five other APEC leaders held meetings with Soeharto at the palace on Sunday.

Moerdiono's statements indicated that China and Malaysia, which last week opposed the establishment of timetables for trade liberalization, had decided to follow the majority of the APEC members, which would support the adoption of time frameworks.

A draft of the Bogor declaration shows that the APEC leaders will likely adopt a proposal by the APEC's Eminent Persons Group (EPG) that developed members should implement free trade by 2010 and the developing members by 2020.

The Pacific Business Forum, a business advisory agency set up by APEC, even suggested that the developing members achieve free trade and investment liberalization in the region by 2002 and the developed members by 2010.

Partnership

"The trade liberalization will be based on partnership and respect of each other," said Moerdiono, who accompanied Soeharto in yesterday's meetings. "Because APEC members have different levels of economic development, developed members will have to open their markets sooner than the developing ones."

A Chinese delegation spokesman, Chen Jian, said yesterday that China broadly backed the date of 2020 for completing trade liberalization among APEC members.

"We support the objective of achieving trade liberalization by the year 2020. The dates for achieving trade liberalization should be different for different members of APEC in the light of each member's development," he said.

Moerdiono said because economic relations among APEC members will be based on partnership, members with strong economies will be required to assist other members whose economies are still weak.

"But the members with weak economies should not rely entirely on the help of the strong members in their economic development," he said.

Moerdiono said that all the APEC leaders are committed to making the Bogor meeting a success.

The minister said Soeharto also discussed bilateral relations in his meetings with the APEC leaders. (riz)