APEC seeks to remove economic imbalances

APEC seeks to remove economic imbalances

JAKARTA (JP): The Asia Pacific Economic Cooperation (APEC)
forum with its diverse membership can become a model in working
for the eradication of economic gaps prevailing in the world.

"APEC could also spearhead the global effort to effectively
address the disparities and imbalances between the developed and
developing countries," said the chairman of APEC's senior
officials meeting Wisber Loeis.

Speaking at a monthly luncheon of the Indonesian Executive
Council yesterday, Wisber noted that APEC's membership,
consisting of established industrialized, newly industrialized
and developing nations, represents a microcosm of the global
economy.

"APEC members by nature are heterogeneous," he said pointing
to the differences in incomes and socio-political systems.

APEC comprises Canada, the United States, Mexico, Japan,
China, South Korea, Taiwan, Hong Kong, Papua New Guinea,
Australia, New Zealand and members of the Association of South
East Asian Nations (ASEAN) -- Thailand, Malaysia, Singapore, the
Philippines, Brunei and Indonesia.

According to Wisber, though trade liberalization and
facilitation is the central aim to the forum, development
cooperation remains an important part of the overall program of
APEC.

"Among the APEC members that are strongly concerned with these
differences are the ASEAN countries," he remarked.

Considering the importance of development cooperation,
Indonesia, which currently presides APEC, has highlighted areas
directly pertaining to it.

These areas include human resources development, improvement
of infrastructure and the development of small and medium
infrastructure.

Wisber, who is director general of foreign economic relations
at the Indonesian foreign ministry, said other areas being
stressed which have a strong link to developing members include
transfer of technology and education programs.

"Indonesia hopes that APEC will serve as the vanguard of true
North-South cooperation and partnership," he added.

"With such a North-South partnership in place in Asia Pacific
there is every reason to expect that it can be made a model in
the global context."

AELM

Forecasting the outcome of the upcoming APEC Economic Leaders
Meeting (AELM) next month, Wisber displayed optimism that
it would produce significant results which will benefit both
Indonesia and the region as a whole.

Following the inaugural meeting on Blake Island, Seattle last
year, the forum's economic leaders are due to hold their second
meeting on Nov. 15 at Bogor Palace, West Java.

"We are hopeful that the APEC Economic Leaders Meeting in
Bogor will produce fundamental platforms on how cooperation will
be carried out," Wisber said.

Two special teams, an expert's group called the Eminent
Persons Group (EPG) and an association of leading businessmen
known as the Pacific Business Forum (PBF), have both presented
reports calling for the adoption of a timetable for trade
liberalization.

The recommendation of the EPG for free trade in the region by
the year 2020 and the PBF's target date of 2010 are expected to
dominate the discussion in Bogor.

The significance of these two reports was evident in the way
it was personally received by President Soeharto as chairman of
APEC.

Though he refused to speculate on the adoption of the EPG and
PBF proposals, Wisber said the AELM would be "expected to produce
substantial agreements to further enhance economic cooperation in
the region." (mds)