Australia to back Indonesia's APEC plans

Australia to back Indonesia's APEC plans

SINGAPORE (Reuter): Australia will support Indonesia's efforts
to forge a more open trading system at the Asia-Pacific Economic
Cooperation (APEC) forum in November.

"We see ourselves as supporting the direction the Indonesian
government wants to take APEC this year," Australian Minister for
Trade Bob McMullan told reporters yesterday.

He said Australia supported "trade liberalization on a GATT-
consistent basis," and said he was sure that President Soeharto
would advocate a policy along these lines at APEC.

Indonesia chairs APEC this year, and will host the November
heads of government meeting in Bogor, Indonesia.

Among the goals Australia saw as achievable in Bogor were the
setting of a date by which a free trade area could be in
operation, McMullan said. He did not specify a date.

McMullan said he will present a letter outlining the
Australian prime minister's views on what the government
considers achievable goals for APEC to Singapore Prime Minister
Goh Chok Tong.

A similar letter has already been delivered to the South
Korean and Japanese governments.

"We're optimistic the direction of our thinking is similar (to
that of Korea and Japan)," McMullan said.

The formation of a free trade area is likely to top the agenda
at APEC this year as the forum will hear a report by the "Eminent
Persons Group" (EPG) of government-appointed politicians and
economists. It is expected to outline a plan to create a common
market among the 17-member body.

McMullan said APEC would also discuss the implementation of a
voluntary code on foreign investment for the Asia-Pacific region.
This code would be a set of principles rather than a set of
uniform regulations.

The APEC group links Australia, the United States, Canada,
Mexico, Japan, China, Hong Kong, Taiwan, South Korea, Indonesia,
Brunei, the Philippines, Malaysia, Singapore, Thailand, Papua New
Guinea and New Zealand.

It accounts for 40 percent of the world's population and 50
percent of its gross national product. Australia was one of the
founding members.