APEC to push for resumption of new round of WTO talks
APEC to push for resumption of new round of WTO talks
BANDAR SERI BEGAWAN (AFP): Host Brunei on Friday called on the Asia-Pacific Economic Cooperation (APEC) forum to push for the early holding of a new round of global trade talks.
Lim Jock Seng, permanent secretary at the Brunei foreign ministry who is chairing an APEC senior officials level meeting here, said a multilateral trading regime was still necessary despite the emergence of regional trade accords.
"While regional trade arrangements offer innovative ways to facilitate trade between some economies, APEC economies should work toward a new round of negotiations with the World Trade Organization (WTO)," a statement quoted him as saying.
Speaking on the second day of a three-day meeting of APEC senior trade officials and diplomats here, Lim described the WTO process as "a most important vehicle to achieving the goals of borderless trade."
The senior officials' meeting is charged with fine-tuning a list of issues to be put forward to a summit of APEC leaders in Brunei in November.
Lim stressed APEC's role as "an important conduit to free trade."
APEC is a grouping of 21 economies on three continents bordering the Pacific Ocean. It accounts for about two thirds of total global trade.
Singapore and New Zealand recently concluded a trade agreement, slashing tariffs and other barriers. New Zealand already has a closer economic relations arrangement with Australia.
In his address, Lim also pushed for the inclusion of the human development agenda aimed at upgrading workforce skills to allow countries to cope with changes resulting from the information technology (IT) revolution.
IT development with APEC has been uneven, with countries such as the United States, Canada and Singapore on one side of the so- called digital divide and the developing countries of Asia and the South Pacific on the other side.
"We would like to see the expansion of opportunities for all our stakeholders in APEC to participate in, and become the beneficiaries of the new and knowledge-based economy," he said.
During a retreat on Thursday, APEC's less developed members voiced concern over the uncertainties brought about by the Internet era but were told that they have no choice but to cope or be left behind.
APEC groups 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.