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.