ID :
89698
Sun, 11/15/2009 - 09:49
Auther :
Shortlink :
https://www.oananews.org//node/89698
The shortlink copeid
APEC faces `challenges` in seeking free trade area: draft statement+
SINGAPORE, Nov. 14 Kyodo -
Leaders of Pacific Rim economies will seek to establish a free trade area in
the future while recognizing the ''challenges'' to achieving such a goal, a
draft of their joint declaration showed Saturday.
The 21-member Asia-Pacific Economic Cooperation forum ''will continue to
develop building blocks towards a possible Free Trade Area of the Asia Pacific
in the future,'' says the modified version of the draft obtained by Kyodo News.
But it also says that an analytical study has shown the ''challenges of
establishing such an agreement.''
The leaders of APEC, which accounts for more than 40 percent of the value of
global trade, kicked off their two-day summit in Singapore.
One of their main topics is how to develop measures to help accelerate regional
economic integration, including the creation of a free trade area. However, the
draft indicates that differences remain between member economies over how much
to open their domestic markets to imports and which countries should or should
not join such a multilateral framework.
Some members, including China, are skeptical about discussing integration based
on the Asia-Pacific grouping that includes the United States, conference
sources said. Beijing has pressed for another grouping involving China, Japan,
South Korea and the 10-member Association of Southeast Asian Nations.
Singaporean Prime Minister Lee Hsien Loong told the leaders Saturday that it is
crucial to ''keep up the momentum in our efforts to realize'' the vision of a
free trade area, according to his press secretary. But Lee also acknowledged
that political conditions would need to be right before negotiations for a
region-wide free trade zone could be launched.
Japanese Prime Minister Yukio Hatoyama, who is attending the summit, delivered
a speech to business leaders, saying it is important to promote ''open
regionalism'' in Asia in which ''the United States will have an important role
to play.''
The Japan-U.S. alliance benefits economic and political stability in the
region, Hatoyama added. Referring to multilateral frameworks for cooperation,
including his proposal for the creation of an ''East Asian community,'' the
Japanese prime minister said, ''I don't think we should be questioning which
countries would be in and out of it.''
Drafting work is still under way. The leaders will release the declaration on
Sunday after the end of their meeting.
The annual APEC summit is also focusing on the battle against climate change,
rising protectionism in international trade and how to reenergize the stalled
Doha Round negotiations under the World Trade Organization.
On climate change, the leaders are expected to send some signals before a key
U.N. climate change conference next month in Copenhagen. But the draft only
says that the leaders ''believe that global (greenhouse gas) emissions will
need to...be substantially reduced by 2050.''
An earlier version of the draft had said that emissions must be cut ''to 50
percent below 1990 levels by 2050.'' The sources said the retreat was due
partly to reluctance on the part of some large emitting economies to include
specific figures in the declaration.
APEC groups Australia, Brunei, Canada, Chile, China, Hong Kong, Indonesia,
Japan, South Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the
Philippines, Russia, Singapore, Taiwan, Thailand, the United States and
Vietnam.
U.S. President Barack Obama, Chinese President Hu Jintao and Russian President
Dmitry Medvedev are also attending the summit.
Host Singapore has said economic growth after the global recession must be more
sustainable and ''inclusive'' with both developed and developing members and
all segments of societies benefiting from the integration. The leaders will
seek to raise growth potential through innovation.
The draft says the leaders ''recognize the necessity to develop a new growth
paradigm for the changed post-crisis landscape,'' and that APEC ''will put in
place next year a comprehensive long-term growth strategy that supports more
balanced growth within and across economies.''
Japan, next year's APEC chair, will effectively play a leading role in crafting
the growth strategy.
On international trade, the draft says the leaders ''firmly reject all form of
protectionism and reaffirm our commitment to refrain from raising new barriers
to investment or to trade in goods and services.''
The leaders will stick to the WTO's most recent goal of successfully concluding
the Doha Round free-trade talks within next year. ''We are ready to exercise
pragmatism and all possible flexibility in order to accelerate the pace of
negotiations,'' it says.
The Doha negotiations were launched in 2001 in the Qatari capital and were
originally scheduled to be concluded in 2005.
During the first day of the summit, the APEC leaders ''resolved to inject a
strong political push to conclude the Doha Round of WTO negotiations by the end
of 2010,'' the Singaporean press secretary said in a statement.
Farm and trade ministers from WTO members will gather for talks from Nov. 30 to
Dec. 2 in Geneva, Switzerland.
==Kyodo
Leaders of Pacific Rim economies will seek to establish a free trade area in
the future while recognizing the ''challenges'' to achieving such a goal, a
draft of their joint declaration showed Saturday.
The 21-member Asia-Pacific Economic Cooperation forum ''will continue to
develop building blocks towards a possible Free Trade Area of the Asia Pacific
in the future,'' says the modified version of the draft obtained by Kyodo News.
But it also says that an analytical study has shown the ''challenges of
establishing such an agreement.''
The leaders of APEC, which accounts for more than 40 percent of the value of
global trade, kicked off their two-day summit in Singapore.
One of their main topics is how to develop measures to help accelerate regional
economic integration, including the creation of a free trade area. However, the
draft indicates that differences remain between member economies over how much
to open their domestic markets to imports and which countries should or should
not join such a multilateral framework.
Some members, including China, are skeptical about discussing integration based
on the Asia-Pacific grouping that includes the United States, conference
sources said. Beijing has pressed for another grouping involving China, Japan,
South Korea and the 10-member Association of Southeast Asian Nations.
Singaporean Prime Minister Lee Hsien Loong told the leaders Saturday that it is
crucial to ''keep up the momentum in our efforts to realize'' the vision of a
free trade area, according to his press secretary. But Lee also acknowledged
that political conditions would need to be right before negotiations for a
region-wide free trade zone could be launched.
Japanese Prime Minister Yukio Hatoyama, who is attending the summit, delivered
a speech to business leaders, saying it is important to promote ''open
regionalism'' in Asia in which ''the United States will have an important role
to play.''
The Japan-U.S. alliance benefits economic and political stability in the
region, Hatoyama added. Referring to multilateral frameworks for cooperation,
including his proposal for the creation of an ''East Asian community,'' the
Japanese prime minister said, ''I don't think we should be questioning which
countries would be in and out of it.''
Drafting work is still under way. The leaders will release the declaration on
Sunday after the end of their meeting.
The annual APEC summit is also focusing on the battle against climate change,
rising protectionism in international trade and how to reenergize the stalled
Doha Round negotiations under the World Trade Organization.
On climate change, the leaders are expected to send some signals before a key
U.N. climate change conference next month in Copenhagen. But the draft only
says that the leaders ''believe that global (greenhouse gas) emissions will
need to...be substantially reduced by 2050.''
An earlier version of the draft had said that emissions must be cut ''to 50
percent below 1990 levels by 2050.'' The sources said the retreat was due
partly to reluctance on the part of some large emitting economies to include
specific figures in the declaration.
APEC groups Australia, Brunei, Canada, Chile, China, Hong Kong, Indonesia,
Japan, South Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the
Philippines, Russia, Singapore, Taiwan, Thailand, the United States and
Vietnam.
U.S. President Barack Obama, Chinese President Hu Jintao and Russian President
Dmitry Medvedev are also attending the summit.
Host Singapore has said economic growth after the global recession must be more
sustainable and ''inclusive'' with both developed and developing members and
all segments of societies benefiting from the integration. The leaders will
seek to raise growth potential through innovation.
The draft says the leaders ''recognize the necessity to develop a new growth
paradigm for the changed post-crisis landscape,'' and that APEC ''will put in
place next year a comprehensive long-term growth strategy that supports more
balanced growth within and across economies.''
Japan, next year's APEC chair, will effectively play a leading role in crafting
the growth strategy.
On international trade, the draft says the leaders ''firmly reject all form of
protectionism and reaffirm our commitment to refrain from raising new barriers
to investment or to trade in goods and services.''
The leaders will stick to the WTO's most recent goal of successfully concluding
the Doha Round free-trade talks within next year. ''We are ready to exercise
pragmatism and all possible flexibility in order to accelerate the pace of
negotiations,'' it says.
The Doha negotiations were launched in 2001 in the Qatari capital and were
originally scheduled to be concluded in 2005.
During the first day of the summit, the APEC leaders ''resolved to inject a
strong political push to conclude the Doha Round of WTO negotiations by the end
of 2010,'' the Singaporean press secretary said in a statement.
Farm and trade ministers from WTO members will gather for talks from Nov. 30 to
Dec. 2 in Geneva, Switzerland.
==Kyodo
