KEY BUSINESS LEADERS URGE APEC TO PROMOTE RECOVERY OF WORLD TRADE

KUALA LUMPUR, May 18(Bernama) -- Leaders of the 21 member economies of the
Asia-Pacific Economic Cooperation (APEC) have been urged to take action to
promote the recovery of world trade.

Key business leaders of the Asia-Pacific region who made this call said,
world trade is expected to decline by nine percent this year and it was vital
that APEC acts to help overcome the global economic crisis.

At a meeting in Brunei from May 12-15, the APEC Business Advisory Council
(ABAC) submitted a letter to the leaders on their views and recommendations for
immediate action.

In the letter, ABAC urged the leaders to accelerate efforts to achieve
integration among their economies through the faithful adherence to the Bogor
Goals and to realising the vision of the Free Trade Agreement of the Asia
Pacific (FTAAP).

They also called on the leaders to show global leadership in rejecting
protectionism and pushing for the completion of the Doha Round.

"While applauding the G20 leaders' pledge to promote trade and reject
protectionism, we are greatly concerned that more trade-restrictive
measures are being put in place.Protectionism seems to be on the rise,"
ABAC chairman Teng Theng Dar said in a statement here Monday.

He said ABAC has asked APEC leaders to abide with their commitment not to
introduce any new barriers to trade in response to the economic crisis, even if
these appear to be World Trade Organisation (WTO)-consistent.

"This is the time for APEC to show its leadership and reaffirm the spirit of
free, open trade and investment," Teng said.

The business leaders also expressed their frustration that the Doha Round
remained uncompleted after eight years of negotiations and asked that the APEC
leaders push the WTO to set a deadline for its conclusion in early 2010.

In a separate communication to APEC ministers responsible for trade, ABAC
set out its views and recommendations on regional economic integration,
strengthening capacity building, sustainable development and enhancing
connectivity in the region.

An APEC SME Summit on "SMEs in a Turbulent Global Economy: Crisis,
Challenges and Opportunities", was held on May 12. Three more will be organised
by ABAC in 2009, underlining the importance it attached to the growth of small
and medium enterprises (SME) in the region.

ABAC brings together up to three business leaders from each of APEC's 21
economies.They provide APEC leaders with business sector priorities and
concerns.

The meeting in Brunei was the second for ABAC this year.
-- BERNAMA