APEC MEETING TO DELIBERATE ON FTAAP

From Siti Hawa Othman

YOKOHAMA, Nov 11 (Bernama) -- The 18th Asia Pacific Economic Cooperation
(Apec) Leaders' Meeting here is expected to see further deliberations on a
potential free trade agreement within the Asia Pacific region (FTAAP) proposed
by the Apec Business Advisory Council last year.

"The leaders will decide on how to pursue FTAAP and discuss on this. In
fact, there will be a paper on this," said the Malaysian International Trade and
Industry's Senior Director for Apec N. Vasudevan told Malaysian journalists.

Apec has been exploring possible pathways to FTAAP, which is part of its
agenda on greater regional economic integration to increase trade and investment
and boost prosperity in the region.

A Trans-Pacific Partnership (TPP) Leaders' Meeting would also be held,
Vasudevan said.

TPP is a multilateral free trade agreement initiated by four Apec economies
-- Brunei, Chile, New Zealand and Singapore -- in 2005. Five more countries,
namely Australia, Malaysia, Peru, United States and Vietnam, are currently
negotiating to participate in it.

TPP is one of the pathways under the Apec framework that can eventually help
achieve the goals of FTAAP.

The Apec meetings from Nov 7 to 14 involve 21 Pacific rim economies.

Malaysian Deputy Prime Minister Muhyiddin Yassin who is scheduled to arrive
here Thursday, will be attending the Leaders' Meeting from Nov 13 to 14.

At the ongoing Ministerial Meeting, Malaysia is represented by Deputy
Foreign Minister Richard Riot Jaem.

The earlier Senior Officials' Meeting has finalised recommendations for the
ministers and leaders on a new economic growth strategy, possible pathways to
FTAAP and an assessment of progress on the Bogor Goals.

It has also concluded discussions on the priorities to be presented to
ministers and leaders on these key Apec initiatives that were developed during
2010.

On the progress made towards achieving the Bogor Goals set in 1994,
Vasudevan said the assessment report would be forwarded to the leaders.

He said that besides five developed economies, eight developing economies
had also volunteered to be assessed.

As for the new growth strategy, he said the focus would be on the action
plans.

"We have to draw the elements of the action plans from next year and these
have to be consistent with that of the Group of 20 (G20). Apec has to come out
with the concept of the action plans," he said.

Against the backdrop of the 2008 financial crisis, Apec has developed
strategies to encourage improvement in the region's quality of growth. It aims
to achieve balanced, inclusive, sustainable, innovative and secure growth.

The Apec meetings will also deliberate on the Doha Development Agenda which
has shown no progress since its launch in 2001.

The leaders will also touch on human security which includes food security,
health and counter-terrorism.

They are also expected to discuss the global economy at a working lunch,
whereby the Korean leader is expected to give an update about the progress of
the G20 meeting in Seoul.

-- BERNAMA