Published by: World Tibet Network News 97/05/22 24:00 GMT

THE JAKARTA POST

May 12, 1997

BYLINE: Riyadi

MONTREAL (JP): Asia Pacific Economic Cooperation (APEC) trade ministers

reaffirmed their commitment here over the weekend to leading trade and

investment liberalization globally and to working toward free trade in

financial services.

The ministers agreed at the end of their two-day meeting Saturday to

maintain APEC leadership in trade and investment liberalization by

improving their individual action plans, pursuing earlier sectoral

liberalization and encouraging further negotiations on unfinished business

under the World Trade Organization (WTO).

"The major significance of this meeting is the broad support, expressed

by ministers to develop sectoral liberalization initiatives in APEC," host

Canadian Minister of Trade Arthur Eggleton told a joint press conference at

Le Centre Sheraton hotel.

Outside the hotel, a group of around 30 people staged a one-hour

demonstration, unfurling banners which read: "Placer Dome Inc., don't leave

the Philippines without cleaning up", "China, respect human rights",

"Canada, Help Tibet and Free Pakpahan."

The meeting was the first of a series of ministerial meetings Canada

will host to provide impetus for APEC's work in the run-up to the APEC

Ministerial and Economic Leaders' Meeting in Vancouver from Nov. 22 to Nov.

25.

Eggleton said 18 APEC trade ministers reaffirmed their determination to

continue APEC's leadership and credibility in trade liberalization and

discussed a number of sectors that might be candidates for early voluntary

liberalization.

"This meeting has created the momentum to move forward with

recommendation on specific sectors to be leaders in November," Eggleton

said. He said delegations came up with specific ideas, ranging from

environmental goods and services to automotive products to chemicals.

Indonesia proposed textile, apparel and footwear as sectors for early

liberalization with the view that it would benefit most developing

economies. As each country proposed different sectors for early

liberalization, the ministers agreed to assign senior officials to examine

the merits of pursuing sectoral comprehensive liberalization.

The ministers instructed officials to complete their study by the end

of August and to report to them before the next APEC leaders meeting in

November. The ministers instructed officials, in undertaking this work,

to consider encompassing tariff and non-tariff dimensions, elements of

trade facilitation as well as economic and technical cooperation.

They should also encompass critical mass, by developing initiatives

supported by significant groups of APEC members, taking into account their

different levels of economic development and providing a foundation for

participation beyond the APEC region, and where appropriate, for

incorporation into the WTO.

"Five months ago, APEC provided the impetus in the critical mass

required to complete WTO negotiations on information technology agreement

and agreement on basic telecommunications," Eggleton said.

The ministers also encouraged WTO members to work toward a full

financial services agreement in the WTO with improved market access and

national treatment commitments by December. They also agreed to further

improve individual action plans and provide reports on actions taken to

implement their commitment for 1997 by Aug. 15.

Philippine Secretary of Trade and Industry Cesar Bautista said

improvement in individual action plans should cover not only tariff

reductions but also trade facilitations as well as economic and technical

cooperation.

The ministers also confirmed their desire to work closely with the APEC

Business Advisory Council, representing the private sector, respecting in

particular its recommendations on facilitating the movement of business

people; enhancing investment flows; strengthening investment protection

through transparency, predictability, arbitration and enforcement of

contracts.

The recommendations also included those on aligning professional

standards in the region, involving the private sector in infrastructure

planning; the development of policies supportive of small and medium

enterprises; and encouraging greater business sector participation in

economic and technical cooperation.

Indonesian Minister of Industry and Trade Tunky Ariwibowo said APEC

encouraged the private sector to actively take part in APEC processes

because "the private sector is the engine of growth of economic development

and liberalization and the one that makes things happen".

The ministers also supported the recommendations from the APEC

Customs-Industry Symposium for the simplification and harmonization of

customs procedures in a bid to facilitate trade and lower the cost of doing

business.