RP aims to spur APEC economic liberalization

RP aims to spur APEC economic liberalization

MANILA (AFP): The Philippines plans to spur economic
liberalization among Asia Pacific Economic Cooperation members
(APEC) when it hosts a summit of the forum in 1996, President
Fidel Ramos said yesterday.

"As APEC chair, it is up to us to energize, coordinate and
harmonize the actions of the member economies concerted
implementation of the APEC agenda," Ramos said in a speech here.

APEC leaders adopted an action plan at their summit in Osaka,
Japan last month aimed at ensuring free trade and investment by
2010 among its industrialized members and by 2020 for developing
economies.

"We must blaze the trail that others will follow. We must
steer APEC toward sustained implementation of the broad agenda,"
Ramos said.

The Philippine president excluded the possibility of
compelling members to reach the liberalization target.

"The barriers to free and open trade and investments in the
region will come down not through compulsion or bargaining but
through the willingness and desire of our economies to open
themselves to each other," he said.

"The pace and extent of liberalization will very according to
each member country's readiness."

Ramos did not specify how the Philippines would work for
greater liberalization but said that its task as host "must be to
keep this idea in the forefront of everyone's mind.

"We must build confidence in the full and total vindication of
the APEC vision."

The Philippines will host the APEC summit in November 1996,
including many of the preparatory meetings.

Some congressmen and the press have complained that the money
spent in hosting such a summit could be better spent elsewhere in
this impoverished nation.

However Ramos said hosting the summit would allow the
Philippines to showcase its economic recovery, attract more
foreign investment and forge closer economic links with other
countries.

Meanwhile, Australian Trade Minister Bob McMullan said in
Sydney yesterday that a conference of civic leaders from Asia
Pacific Economic Cooperation (APEC) member countries will meet
for the first time in Brisbane in 1996.

McMullan said the Cities of Asia-Pacific Conference would be
an important component in the campaign to reduce trade barriers
and increase trade and investment in the region.

Brisbane Lord Mayor Jim Soorley said the inaugural conference
would provide a forum for mayors and business leaders to examine
the key issues facing the region's booming cities into the next
decade.

"Our cities play a key role in economic growth, as the hub of
industry and commerce, and there are enormous challenges ahead
for civic leaders," Soorley said.

"One of the major challenges which will be addressed at the
conference will be the provision of infrastructure amid this
environment of growth."

He said a city's ability to provide suitable infrastructure
for its resident population and industry, "is a major factor
affecting its economic well-being."