PECC 14th General Meeting Concludes in Hong Kong

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Last updated at: (Beijing Time) Friday, November 30, 2001

PECC 14th General Meeting Concludes in Hong Kong

The Pacific Economic Cooperation Council (PECC), assembling for the 14th General Meeting, believes that shaping and managing the complex changes arising from globalization will be among the most significant challenges of the 21st century, especially in a region as diverse as the Asia Pacific.

At the conclusion of the three-day 14th General Meeting of PECC,PECC issued a declaration "A New Challenge for a New Century" Friday.

PECC is convinced that continued global integration holds the potential for greater social and economic prosperity. The people of the Asia Pacific region have been major beneficiaries of globalization, according to the declaration.

PECC applauds the outcome of the WTO Ministerial Meeting held in Doha earlier this month. The launch of a new round of talks hasgiven a much-needed fillip to economic confidence and credibility in the multilateral trading system.

PECC welcomes the balanced approach to addressing the special needs of developing countries in implementation and capacity building.

PECC urges APEC to step up its efforts in the areas of common concern with the WTO so that the Asia Pacific region may give a lead in that process.

The declaration said that the outcome creates a high level of complementarity between APEC's work on issues like trade facilitation, competition policy, investment and services. PECC will continue its work in these areas to broaden understanding within governments and the wider community.

PECC believes that the WTO is significantly strengthened by theentry of China, as one of the largest economies, into the WTO.

PECC's approach is based on a mutual respect and understanding that reaches out to all communities. A key element of this approach is the inclusion of economic and technical cooperation alongside the process of liberalization.

PECC remains committed to the achievement of free trade and investment in the Pacific by 2020 and the development of a prosperous and equitable Pacific community, according to the declaration.

PECC's 14th General Meeting Opens in Hong Kong