ID :
31890
Mon, 11/24/2008 - 09:15
Auther :
Shortlink :
https://oananews.org//node/31890
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APEC leaders 'committed' to unlock WTO trade talks 'next month'
LIMA, Nov. 23 Kyodo -
Asia-Pacific leaders were ''committed'' Saturday to make a breakthrough ''next
month'' in the long-running free trade talks under the World Trade Organization
in an effort to counter the impact of the expanding global financial crisis.
''We are committed to reach agreement on modalities next month on the basis of
progress made to date'' on the stalled WTO negotiations, they said in a special
statement, released after the first-day session of the Asia-Pacific Economic
Cooperation forum summit.
''We and our ministers are intensifying our engagement with WTO counterparts to
create the convergence necessary to achieve this outcome,'' the statement said.
In a rare move, Peru, the chair of the summit, revised the statement to further
strengthen the message on the WTO negotiations, which was made available about
12 hours after the initial release.
The revised statement, released after 2 a.m. Sunday, added a phrase saying that
the leaders ''direct our ministers to meet in Geneva in December'' to achieve
the target.
The revised version also said, ''We are convinced that we can overcome this
crisis in a period of eighteen months,'' referring to the deepening global
financial crisis.
It did not give a reason as to why they are convinced. A Japanese senior
official said he has not been told why the period 18 months is specified.
The 21 APEC leaders decided to use the word ''commit'' to signal their full
determination to strike an outline deal by the year's end on key trade terms
for a successful conclusion of the Doha Round of trade talks, senior officials
said.
The expression goes beyond what leaders of the Group of 20 major developed and
developing countries said Nov. 15 at the financial summit in Washington as well
as a phrase in a statement released earlier this week by trade and foreign
ministers of the 21 APEC economies.
At the financial summit hosted by U.S. President George W. Bush, the G-20
leaders said they ''shall strive to reach agreement this year on modalities.''
The APEC summit, taking place in Peru for the first time, will likely be Bush's
last official foreign trip before he leaves the White House in late January.
The senior officials, who were responsible for drafting the statement, said it
was relatively easy for the member economies to reach a consensus on creating a
more powerful message regarding the Doha Round. The part left until the last
minute was which verb to pick to strengthen the G-20 phrase, they said.
The stronger message from the leaders of the APEC economies, which account for
nearly half of all global trade, is expected to add impetus to the move toward
a possible ministerial meeting in Geneva next month to unlock the troubled
negotiations, launched seven years ago in the Qatari capital Doha.
The WTO talks have been deadlocked mainly due to a row between developed and
developing economies over cuts in farm and industry tariffs, and agricultural
subsidies, known as modalities among people in the trade community.
Japanese Prime Minister Taro Aso told reporters after the first day of the
two-day summit that successfully concluding the Doha Round will be the best
answer to demonstrate that they are serious about fighting protectionism and
that the world is different from at the time of the Great Depression.
But Aso also said at a hotel in Lima, ''It was good that we made such a
commitment, but it is uncertain whether we can achieve the target.''
In the special joint statement on the global financial crisis, the leaders also
pledged not to impose any trade or investment barriers over the next 12 months
and resist all forms of protectionism.
The period of the moratorium on new trade barriers is the same as the one
pledged by the G-20 leaders.
The Pacific Rim leaders said they will ''refrain within the next 12 months from
raising new barriers to investment or to trade in goods and services, imposing
new export restrictions, or implementing WTO inconsistent measures in all
areas, including those that stimulate exports.''
They noted that concerted efforts by the countries bordering the Pacific, seen
as one of the central engines of the world's growth, would greatly contribute
to staving off a potential serious economic slump.
The leaders stated that they will continue to ''work closely, in a coordinated
and comprehensive manner, to implement future actions to address the crisis.''
On the first day of the APEC summit, the leaders mainly focused on issues
related to the financial crisis, food and energy security and the WTO trade
negotiations, according to the officials.
As part of efforts to resolve the financial crisis, Aso proposed the
establishment of the Asia-Pacific Trade Insurance Network, according to
Japanese officials.
The Japanese premier told his counterparts that the network is aimed at
facilitating trade and investment flows by deepening cooperation for
reinsurance among export credit agencies of the region, they said.
The leaders, including also Chinese President Hu Jintao, Russian President
Dmitry Medvedev and South Korean President Lee Myung Bak, met in the Peruvian
capital just a week after the financial summit in Washington, so that most of
the substance regarding how to address the crisis largely reflected the outcome
of the Washington declaration.
A slight difference is that the latest discussions at the APEC summit
concentrated heavily on how to guard the real economy from the consequences of
one of the worst financial disruptions in history, the officials said.
On macroeconomic measures, the leaders agreed that the International Monetary
Fund should enhance cooperation with other international financial institutions
to improve financial ''regulatory and supervisory responses'' and ''conduct
early warning exercises.''
They also recognized the need to increase transparency of capital markets.
On the second day, they will exchange views on regional economic integration,
corporate social responsibility, climate change and human security.
APEC groups Australia, Brunei, Canada, Chile, China, Hong Kong, Indonesia,
Japan, South Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the
Philippines, Russia, Singapore, Taiwan, Thailand, the United States and
Vietnam.
==Kyodo
Asia-Pacific leaders were ''committed'' Saturday to make a breakthrough ''next
month'' in the long-running free trade talks under the World Trade Organization
in an effort to counter the impact of the expanding global financial crisis.
''We are committed to reach agreement on modalities next month on the basis of
progress made to date'' on the stalled WTO negotiations, they said in a special
statement, released after the first-day session of the Asia-Pacific Economic
Cooperation forum summit.
''We and our ministers are intensifying our engagement with WTO counterparts to
create the convergence necessary to achieve this outcome,'' the statement said.
In a rare move, Peru, the chair of the summit, revised the statement to further
strengthen the message on the WTO negotiations, which was made available about
12 hours after the initial release.
The revised statement, released after 2 a.m. Sunday, added a phrase saying that
the leaders ''direct our ministers to meet in Geneva in December'' to achieve
the target.
The revised version also said, ''We are convinced that we can overcome this
crisis in a period of eighteen months,'' referring to the deepening global
financial crisis.
It did not give a reason as to why they are convinced. A Japanese senior
official said he has not been told why the period 18 months is specified.
The 21 APEC leaders decided to use the word ''commit'' to signal their full
determination to strike an outline deal by the year's end on key trade terms
for a successful conclusion of the Doha Round of trade talks, senior officials
said.
The expression goes beyond what leaders of the Group of 20 major developed and
developing countries said Nov. 15 at the financial summit in Washington as well
as a phrase in a statement released earlier this week by trade and foreign
ministers of the 21 APEC economies.
At the financial summit hosted by U.S. President George W. Bush, the G-20
leaders said they ''shall strive to reach agreement this year on modalities.''
The APEC summit, taking place in Peru for the first time, will likely be Bush's
last official foreign trip before he leaves the White House in late January.
The senior officials, who were responsible for drafting the statement, said it
was relatively easy for the member economies to reach a consensus on creating a
more powerful message regarding the Doha Round. The part left until the last
minute was which verb to pick to strengthen the G-20 phrase, they said.
The stronger message from the leaders of the APEC economies, which account for
nearly half of all global trade, is expected to add impetus to the move toward
a possible ministerial meeting in Geneva next month to unlock the troubled
negotiations, launched seven years ago in the Qatari capital Doha.
The WTO talks have been deadlocked mainly due to a row between developed and
developing economies over cuts in farm and industry tariffs, and agricultural
subsidies, known as modalities among people in the trade community.
Japanese Prime Minister Taro Aso told reporters after the first day of the
two-day summit that successfully concluding the Doha Round will be the best
answer to demonstrate that they are serious about fighting protectionism and
that the world is different from at the time of the Great Depression.
But Aso also said at a hotel in Lima, ''It was good that we made such a
commitment, but it is uncertain whether we can achieve the target.''
In the special joint statement on the global financial crisis, the leaders also
pledged not to impose any trade or investment barriers over the next 12 months
and resist all forms of protectionism.
The period of the moratorium on new trade barriers is the same as the one
pledged by the G-20 leaders.
The Pacific Rim leaders said they will ''refrain within the next 12 months from
raising new barriers to investment or to trade in goods and services, imposing
new export restrictions, or implementing WTO inconsistent measures in all
areas, including those that stimulate exports.''
They noted that concerted efforts by the countries bordering the Pacific, seen
as one of the central engines of the world's growth, would greatly contribute
to staving off a potential serious economic slump.
The leaders stated that they will continue to ''work closely, in a coordinated
and comprehensive manner, to implement future actions to address the crisis.''
On the first day of the APEC summit, the leaders mainly focused on issues
related to the financial crisis, food and energy security and the WTO trade
negotiations, according to the officials.
As part of efforts to resolve the financial crisis, Aso proposed the
establishment of the Asia-Pacific Trade Insurance Network, according to
Japanese officials.
The Japanese premier told his counterparts that the network is aimed at
facilitating trade and investment flows by deepening cooperation for
reinsurance among export credit agencies of the region, they said.
The leaders, including also Chinese President Hu Jintao, Russian President
Dmitry Medvedev and South Korean President Lee Myung Bak, met in the Peruvian
capital just a week after the financial summit in Washington, so that most of
the substance regarding how to address the crisis largely reflected the outcome
of the Washington declaration.
A slight difference is that the latest discussions at the APEC summit
concentrated heavily on how to guard the real economy from the consequences of
one of the worst financial disruptions in history, the officials said.
On macroeconomic measures, the leaders agreed that the International Monetary
Fund should enhance cooperation with other international financial institutions
to improve financial ''regulatory and supervisory responses'' and ''conduct
early warning exercises.''
They also recognized the need to increase transparency of capital markets.
On the second day, they will exchange views on regional economic integration,
corporate social responsibility, climate change and human security.
APEC groups Australia, Brunei, Canada, Chile, China, Hong Kong, Indonesia,
Japan, South Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the
Philippines, Russia, Singapore, Taiwan, Thailand, the United States and
Vietnam.
==Kyodo
