APEC leaders to set dates on free trade

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)