Market Access a Hot Topic in APEC MeetingThe expansion of market access among member economies of the Asia-Pacific Economic Cooperation (APEC) has become one of hot issues discussed by representatives attending the related meetings of the Third Senior Official Meeting (SOM III) of APEC.At a two-day meeting of the Market Access Group, which is to conclude here Saturday, representatives from all 21 member economies of APEC presented their views on the topic. Statistics shows that the population of the 21 APEC economies accounts for 45 percent of the world's total, their gross domestic production makes up 55 percent of the world's total, and their trade takes a 46-percent share of the global total. Last year, the trade volume between China and other member economies of APEC amounted to 344.55 billion U.S. dollars, making up 72.6 percent of China's total foreign trade volume. Against this backdrop, participants at the meeting agreed market openness of the APEC economies will have a vital impact on world trade liberalization and economic globalization. Jenny Yip, from Hong Kong, said one goal of the APEC is to promote the opening-up of market, which is not only beneficial to APEC economies themselves, but also to the process of trade liberalization across the globe. Although reluctant to specify the discussions, she said the meeting adopted a "theoretical" approach to the market access. Participants discussed such issues as how to reform tariff measures and how to improve policy transparency from a macro aspect. As tariff and non-tariff measures are both very sensitive issues, participants held different opinions. Nevertheless, they all took positive attitude towards them. Another participant, who asked to be anonymous, said leaders from both developed and developing members of APEC have set the long-term objective of realizing trade and investment liberalization in 2010 and 2020, respectively. The members are seriously promoting the process, he said, adding the disputes lie in the specific methods and approaches adopted to promote the process. As a matter of fact, representatives from APEC economies are active in cooperation in various substantial issues, such as information exchange, setting up database and putting forward specific targets to lower tariff rates. Some participants held that discussions on market access had substantial content, and some had presented proposals on improving and revising the content and measures designated in various documents signed by APEC economies. |
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