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)