APEC ministers discuss global, regional trade issues (Xinhua) Updated: 2006-06-01 13:44
Ministers responsible for trade from the Asia-Pacific Economic Cooperation (
APEC) met in Ho Chi Minh City on Thursday morning to show support for
the World Trade Organization (WTO) and the Doha Development Agenda, and seek
measures to facilitate free and open trade and investment in the Asia-Pacific
region.
In a retreat meeting in southern Ho Chi Minh City, the ministers
from the 21-member of APEC are scheduled to exhibit their political
determination in support the facilitation of Doha negotiations so that they
would conclude by late 2006 as targeted.
They are also to touch upon the
establishment and development of regional trading arrangements (RTA) and free
trade agreements ( FTA), and seek measures to well implement the Busan Roadmap
to the Bogor Goals.
On June 1, in a plenary session, the ministers will
discuss three main issues including trade and investment liberalization and
facilitation, economic and technical cooperation, and interaction with the
business community.
The WTO has set target of making some progresses in
the Doha multilateral trade talks in June and July so that the negotiations
could wrap up by the end of this year.
At the 2nd seniors' official
meeting in the city from May 30 to 31, APEC delegates reached consensus on main
points of a Hanoi action plan with specific measures to realize Bogor goals,
adopted by APEC leaders at their 1994 meeting in Bogor, Indonesia, on free and
open trade and investment in the Asia-Pacific region by 2010 for industrialized
economies and 2020 for developing ones, Phung said.
The Hanoi action
plan, to be submitted to the two-day ministerial meeting from June 1 to 2 and
then the APEC summit in November for approval, puts forth concrete measures to
implement the Busan Roadmap, a step leading to the Bogor goals. APEC leaders in
2005 developed a blueprint in Busan, South Korea for improving trade and
investment facilitation measures, regional travel, and seeking a satisfactory
conclusion to the WTO Doha Development Agenda round of
negotiations. (For more biz stories, please visit Industry Updates)
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