ID :
183742
Mon, 05/23/2011 - 07:55
Auther :
Shortlink :
https://oananews.org//node/183742
The shortlink copeid
APEC MEMBERS URGED TO EMBRACE DOMESTIC ECONOMIC REFORMS
MELBOURNE (Bernama) - Australia is urging members of the Asia Pacific Economic Cooperation (APEC) to focus on ongoing domestic economic reforms as the best way to boost prosperity and sustain APEC's trade reform efforts.
Australia's Trade Minister Dr Craig Emerson singled out structural reform as a top priority at the APEC Meeting of Ministers Responsible for Trade in Big Sky, Montana.
He said Australia would provide A$2.5 million to help developing economies identify national structural reform priorities and develop policies and measures to achieve these objectives.
"We are well-placed to work with APEC economies on their domestic economic reform efforts, given our history of undertaking difficult but necessary structural reforms, since the 1980s," he said in a statement.
"Building support within economies for market-driven structural reforms will boost the conditions for further trade and investment liberalisation within APEC," Dr Emerson added.
Australia will help bring experts from Australia's Productivity
Commission, the World Bank, the Organisation for Economic Cooperation and Development and the Asian Development Bank to work with policymakers and regulators from developing APEC economies to plan, prioritise and implement structural reforms.
Other key objectives at the APEC meeting included improving the way
economies regulate services and to develop best-practice regulatory and
prudential approaches to boosting finance to small-medium-and-micro enterprises.
Australia is also contributing to APEC's work in strengthening supply chain connectivity.
"We are pleased to support initiatives to improve Asia-Pacific supply chains by streamlining regulation of goods trade across the border," Dr Emerson said.
He said Australia continued to play a leading role in APEC on food safety issues.
"Inadequate, inconsistent and unpredictable food safety regulation can have severe public health and economic impact, damaging markets, reducing trade and disrupting agri-business.
"Under Australian and Chinese leadership, APEC is improving cooperation on food regulation, positioning Australian agribusiness for further export success," he added.
Australia's Trade Minister Dr Craig Emerson singled out structural reform as a top priority at the APEC Meeting of Ministers Responsible for Trade in Big Sky, Montana.
He said Australia would provide A$2.5 million to help developing economies identify national structural reform priorities and develop policies and measures to achieve these objectives.
"We are well-placed to work with APEC economies on their domestic economic reform efforts, given our history of undertaking difficult but necessary structural reforms, since the 1980s," he said in a statement.
"Building support within economies for market-driven structural reforms will boost the conditions for further trade and investment liberalisation within APEC," Dr Emerson added.
Australia will help bring experts from Australia's Productivity
Commission, the World Bank, the Organisation for Economic Cooperation and Development and the Asian Development Bank to work with policymakers and regulators from developing APEC economies to plan, prioritise and implement structural reforms.
Other key objectives at the APEC meeting included improving the way
economies regulate services and to develop best-practice regulatory and
prudential approaches to boosting finance to small-medium-and-micro enterprises.
Australia is also contributing to APEC's work in strengthening supply chain connectivity.
"We are pleased to support initiatives to improve Asia-Pacific supply chains by streamlining regulation of goods trade across the border," Dr Emerson said.
He said Australia continued to play a leading role in APEC on food safety issues.
"Inadequate, inconsistent and unpredictable food safety regulation can have severe public health and economic impact, damaging markets, reducing trade and disrupting agri-business.
"Under Australian and Chinese leadership, APEC is improving cooperation on food regulation, positioning Australian agribusiness for further export success," he added.
