China urges more APEC efforts in reviving Doha Round

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Last updated at: (Beijing Time) Sunday, October 19, 2003

China urges more APEC efforts in reviving Doha Round

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The Asia-Pacific Economic Cooperation (APEC) can play a positive role in restarting the stalled multilateral trade talks of the Doha Round by keeping the forum's free trade and investment goals, Chinese President Hu Jintao said Sunday.

"Though the Doha Round of WTO (the World Trade Organization) talks suffered some setbacks, so long as all parties persist in consultation on an equal footing in the spirit of seeking common ground while shelving differences, it will be successful in the end," Hu told Pacific Rim business leaders attending the APEC CEO Summit.

At a 1994 meeting in Bogor, Indonesia, APEC set the goals of establishing free trade between its developed economies by 2010 and its developing members by 2020.

"Greater economic development in all members requires that they continue to promote trade and investment liberalization, remove trade barriers and create a fair and reasonable environment of competition," Hu said.

"In making bilateral or intra-regional free trade arrangements, efforts should be made to ensure their consistency with the WTO rules and the APEC principles, so that they can contribute to greater trade and investment, faster economic development in the region, and stronger capacity of members to jointly resist economic risks," he added.

Hu, who arrived here Friday on a state visit to Thailand, will attend the 11th APEC Economic Leaders Meeting scheduled for Monday and Tuesday. He will then pay state visits to Australia and New Zealand.

APEC groups Australia, Brunei, Canada, Chile, China, Chinese Hong Kong, Indonesia, Japan, South Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, Chinese Taipei, Thailand, the United States and Vietnam.

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