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."