Ministers and representatives from the 21 member Asia-Pacific Economic
Cooperation (APEC) passed a draft joint statement here Thursday, calling for the
early restarting of the Doha Round of trade talks to achieve a productive
outcome next year.
They agreed to "explore every avenue to achieve the necessary breakthroughs
at the earliest opportunity and to put the Doha work on a path towards an
ambitious and balanced outcome in 2007," said the draft statement, which will be
submitted to the upcoming APEC economic leaders meeting for approval.
The ministers and representatives recommended APEC economic leaders to issue
a stand-alone statement on the Doha Round, reaffirming APEC resolve in resuming
the negotiation process without further delay. The Doha round began in the
Qatari capital at the end of 2001, aiming to reduce subsidies, tariffs and other
barriers to commerce and raising living standards in developing countries.
But the talks were suspended in July due to bitter disputes between rich and
poor nations, as well as among wealthy players, over what concessions are
required. "All ministers agreed that the top priority for APEC in the near
future is the Doha Round," said Vietnamese Trade Minister Truong Dinh Tuyen, who
is also a cochairman of the just concluded APEC ministerial meeting, at a press
conference.
He said that ministers also agreed that the mid-term objective of APEC is to
achieve the Bogor goals of free and open trade and investment in the
Asia-Pacific region by 2010 for industrialized economies and 2020 for developing
economies.
As to the establishment of Asia-Pacific wide free trade arrangements (RTAs),
Tuyen said that it is a long-term APEC objective as agreed upon by the
ministers.
In the daft statement, the ministers and representatives emphasized the high
importance of WTO capacity of building activities of APEC as a tool to enable
developing member economies to accede to and to fully participate in WTO
negotiations.
Thus, these member economies will enjoy "the full benefits of WTO membership
and the potential of trade towards social and economic development," said the
draft statement.
APEC has 21 member economies, including China, the United States, Russia,
Japan, Vietnam, Singapore and Australia, which account for more than a third of
the world's population, over 50 percent of world's GDP and 40 percent of world
trade.