APEC ministers to help developing economies

APEC ministers to help developing economies

DARWIN, Australia (AP): Hoping to boost chances for a new
round of world trade talks, Asia-Pacific trade ministers said
Wednesday they will provide technical assistance to developing
economies in the region.

Ministers from the Asia-Pacific Economic Cooperation forum
also said they will now refrain from imposing customs duties on
e-commerce transactions.

APEC members are pushing for the launch of a new round of
talks aimed at breaking down trade barriers and lifting economies
worldwide.

The last effort to start talks failed miserably in Seattle,
Washington, late last year, when a World Trade Organization
meeting became a focal point for violent street protests and
trade ministers ultimately could not agree on a formula for a new
round of talks.

Ministers from the Third World accused rich traders, mainly
the United States and the European Union, of locking them out of
crucial decision-making and refused to sign onto a new round of
talks.

APEC cannot launch new talks on its own because that would
have to be agreed by all members of the WTO, the Geneva-based
body that sets global trade rules. However, APEC contains some
influential members who can put their lobbying muscle behind the
effort.

"We reaffirm our strong commitment of an early launch of a new
round of multilateral trade negotiations," said Australian Trade
Minister Mark Vaile, chairman of the two-day APEC meeting of
trade ministers, which ended Wednesday.

"We agreed that a new round will require a balanced agenda
that is sufficiently broad-based to respond to the interests of
all WTO members," Vaile said.

Despite the efforts of APEC and others who want more trade
talks, WTO Director-General Mike Moore has said there is only a
modest chance that new negotiations can be launched before the
end of the year.

The ministers said APEC will provide technical assistance to
developing member economies so they are able to implement WTO
agreements.

APEC includes 21 economies: Australia, Brunei, Canada, Chile,
China, Hong Kong, Indonesia, Japan, South Korea, Malaysia,
Mexico, New Zealand, Papua New Guinea, Peru, the Philippines,
Russia, Singapore, Taiwan, Thailand, the United States and
Vietnam.