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.