CHINA / APEC Summit |
Free trade to top agenda of APEC economic leaders meeting(Xinhua)Updated: 2006-11-13 08:24 HANOI -- Senior officials from the 21 APEC member economies began a two-day meeting here Sunday to finalize the agenda for the forthcoming 14th APEC Economic Leaders Informal Meeting, with free and open trade issues expected to top their agenda. "One of the major outcomes that is anticipated from the leaders' meeting will be the Hanoi Action Plan to implement the Busan roadmap to achieve the Bogor goals," said Le Cong Phung, chairman of the APEC Senior Officials' Meeting and also Vietnamese vice minister of Foreign Affairs. He said that the action plan will be made up of concrete actions in key areas and its implementation will be essential to achieving the Bogor goals of free and open trade and investment in the Asia-Pacific region by 2010 for industrialized economies and 2020 for developing economies. And for the first time, the Pacific Rim economies will discuss the proposal of realizing an APEC-wide Free Trade Arrangement (FTA). The idea was originally presented by the APEC Business Advisory Council, which consists of member economies' senior business executives. The APEC economic leaders' meeting from Nov. 18 to 19 will also focus on supporting the Doha Round of negotiations under the World Trade Organization (WTO), regional trade arrangements, anti-terrorism, energy, health, anti-corruption and the reform of the APEC. The theme of this year's APEC forum is "Towards a Dynamic Community for Sustainable Development and Prosperity," reflecting the member economies' vision to become a vigorous and prosperous community via sustainable manner based on an open and healthy multilateral trading system. The APEC economic leaders' meeting this year would have special significance as Vietnam has just become the 150th member of the WTO. "This has placed the country in a better position to appeal to other APEC members to further contribute to the organization's development and to restart the Doha Round," Phung said. The Doha Round talks, which have stumbled nearly five years, were suspended in July due to bitter difference among major WTO members, particularly on agricultural issues. WTO chief Pascal Lamy warned in October that the stalled global trade talks must be resumed within the next six months or it would be too late for a successful round. In their 2006 report to APEC leaders, the APEC Business Advisory Council called on APEC member economies to play a strong leadership role in restarting the Doha Round trade talks. The Third APEC Senior Officials Meeting held in Hanoi in September also reached consensus on the importance of resuming the talks. Chinese Assistant Foreign Minister Cui Tiankai told a news briefing in Beijing Tuesday that China hopes the APEC meeting this week will help support the healthy development of multilateral trade systems and promote the implementation of the Bogor goals.
He also said China hopes the meeting will help promote the reform process of APEC to safeguard the status and influence of the economic bloc, adding China will make joint efforts with the other sides to realize the goals. According to Phung, about 10,000 delegates from the APEC members are expected to attend the APEC meeting this week, with leaders from five APEC members to pay state or official visits to Vietnam including Chinese President Hu Jintao, U.S. President George W. Bush, Russian President Vladimir Putin, Japanese Prime Minister Shinzo Abe and Chilean President Michelle Bachelet Jeria. Apart from the leaders meeting and the senior officials meeting, there will be three key events this week, namely the 18th Joint Ministerial Meeting Nov. 15-16, the APEC Business Advisory Council meeting Nov. 14-16 and the APEC CEO summit Nov. 17-19. The events are expected to produce five documents besides the Hanoi Action Plan, including a declaration of the leaders meeting, a statement from ministerial meeting and a report on APEC reform, Phung said. Analysts here expected that in the declaration, the APEC economic leaders will call for an early resumption of the Doha Round negotiations. Since its inception in 1989, APEC has worked to reduce tariffs and other
trade barriers across the Asia-Pacific region and to create efficient domestic
economies and dramatically increase exports. APEC has 21 member economies,
including China, the United States, Russia, Japan, Vietnam, Singapore and
Australia, which account for more than a third of the world's population, over
50 percent of world's GDP and in excess of 41 percent of world trade.
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