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.