APEC declaration calls for restarting trade talks

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Last updated at: (Beijing Time) Tuesday, October 21, 2003

APEC declaration calls for restarting trade talks

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The 11th Economic Leaders Meeting of Asia-Pacific Economic Cooperation (APEC) forum concluded Tuesday in Bangkok with the adoption of a joint declaration calling for restarting the Doha Round of multilateral trade talks and enhancing human security through strengthened and better-coordinated anti-terror efforts.

In the "Bangkok Declaration on Partnership for the Future" readout by Thai Prime Minister Thaksin Shinawatra, the economic leaders agreed to "strengthen partnership not only to liberalize and facilitate regional trade and investment, but also to protect peoples and societies against threats to their security, while preparing them to benefit fully from free and open trade."

"We agreed that strong partnership is vital in order to achievethe goals we set out in Bogor (which aim for free and open trade among APEC developed members by 2010 and among developing members by 2020)," said the document.

In the declaration, the leaders addressed concerns in three major aspects -- promoting trade and investment liberalization, enhancing human security and using APEC to help people and societies benefit from globalization.

On promoting trade and investment liberalization, the leaders voiced "strong support" for continuing the valuable work done at the Cancun (Mexico) ministerial meeting of the World Trade Organization to move forward the Doha Development Agenda (DDA).

"We agreed that for global free trade to flourish, regional andbilateral free trade agreements must be consistent with WTO principles, advance WTO objectives and contribute to the Bogor Goals," they said.

To advance the DDA and realize the Bogor Goals, they agreed to work toward the abolition of all forms of agricultural export subsidies, unjustifiable export prohibition and restrictions, and advance free trade in a coordinated manner "among multilateral, regional and bilateral frameworks."

They extended their continued support for the early accession of Russia and Vietnam to the WTO.

The leaders also promised they would instruct ministers to takeconcrete steps to make APEC's trade agenda "more supportive" of the work of the WTO.

They agreed to work with the APEC Business Advisory Council (ABAC) and the business community to continue to implement the Shanghai Accord and Los Cabos directives to facilitate business activity in the APEC region, including the five-percent reduction of transaction costs by 2006.

At the same time, they agreed on developing specific actions tofight corruption and on promoting business transparency by implementing the general and area-specific transparency standards.

On enhancing human security, the leaders committed themselves to take "all essential actions."

These actions are aimed to dismantle, "fully and without delay," transnational terrorist groups that threaten the APEC economies;to eliminate the severe and growing danger posed by the proliferation of weapons of mass destruction (WMD) and their delivery by strengthening international non-proliferation regimes,adopting and enforcing effective controls, and taking other legitimate and appropriate measures against proliferation; and to confront other direct threats to the security of the APEC region.

"We pledged to discuss at each Leaders' Meeting our progress toward these security commitments, and to take specific actions inpursuit of them."

The leaders listed the measures they agreed on to be taken in 2003 on enhancing human security:

-- To strengthen efforts to curb terrorist threats against masstransportation and confront the threat posed by terrorists' acquisition and use of Man-Portable Air Defense Systems (MANPADS) against international aviation;

-- To increase and better coordinate our counter-terrorism activities, where appropriate, through effective collaboration, technical assistance and capacity building, and cooperation between APEC's Counter Terrorism Task Force, the Counter TerrorismAction Group of the G-8, the UN Security Council Counter TerrorismCommittee and other relevant international, regional and functional organizations;

-- To implement the APEC Action Plan on SARS and the Health Security Initiative to help APEC prevent and respond to regional health threats, including naturally-occurring infectious disease and bio-terrorism.

-- To establish a regional trade and financial security initiative within the Asian Development Bank.

On using APEC to help people and societies benefit from globalization, the economic leaders agreed to strengthen efforts to empower people and societies, including women and youth, to integrate into the global economy.

"Sustainable economic development requires empowering people and strengthening societies for globalization," said the document.

The leaders promised to step up efforts to build knowledge-based economies, and voiced support for science and technology innovation.

They agreed to take further regional efforts to promote sound and efficient financial systems and fundamentals and urged furthercooperation on development of domestic and regional bond markets, as well as "securitization" and credit guarantee markets to enhance the efficiency of those markets.

The leaders said they will work for accelerating APEC's structural reform to ensure sustainable economic growth and development in the Asia-Pacific region.

They also discussed the need to make APEC more efficient and responsive to all stakeholders and instructed ministers to explorethe issue.

The declaration was adopted after the leaders concluded their two-day meeting, which wrapped up the APEC annual meetings this year. Chile is to host next year's APEC events.

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