APEC MEET TO MAKE DOING BUSINESS IN THE REGION FRIENDLIER

By Zakaria Abdul Wahab

SINGAPORE, Nov 5 (Bernama) -- The week-long Asia-Pacific Economic
Cooperation (Apec) meeting beginning this Sunday will see thousands of delegates
converging here to seek ways to make business friendlier in the region.

Singapore expects over 10,000 delegates comprising leaders, ministers,
senior government officials, top business honchos and international media during
Apec Leaders' Week from Nov 8-15.

The Apec Leaders' Week meetings will start with the two-day Concluding
Senior Officials' Meeting (CSOM) beginning Sunday, followed by the Apec
Ministerial Meeting (AMM) from Nov 11-12 and the Apec Finance Ministers' Meeting
(FMM) on Nov 12.

The Apec Leaders' Week culminates with the 17th Apec Economic Leaders'
Meeting (AELM) from Nov 14.

Apec 2009 SOM chairman, Ravi Menon, said the 21 Apec leaders would discuss
long-term economic issues as the world emerged from recession.

He said Apec had been advancing its core agenda of connecting the region by
accelerating economic liberalisation 'at the border', improving the ease of
doing business 'behind the border' and enhancing supply chain connectivity
'across the border'.

"CSOM and AMM will review the progress made and endorse the next steps for
these areas," he told a media briefing here today.

Ravi said Apec ministers and officials would also be reviewing the efforts
to simplify customs procedures and documentation to help companies fully
realise the benefits of free trade areas.

"To make doing business in the region faster, cheaper and easier, Apec had
earlier identified five areas for priority reform, namely, Starting a Business,
Getting Credit, Trading Across Borders, Enforcing Contracts and Dealing with
Permits.

"At the coming meetings, Apec ministers and officials are expected to
discuss Apec-wide targets so that the region can track progress in these
areas," he said.

Without naming any economy, Ravi said, a number of "champion economies",
with strengths in the respective areas were expected to share their reform
programmes to help the other economies improve in these areas.

Under the new Supply Chain Connectivity Initiative started this year, Apec
economies have been working together to identify key chokepoints in regional
supply chains and explore measures to unblock them, he said.

On this, Ravi said, Apec ministers and officials were expected to discuss
the outcomes and how to advance this long-term initiative next year.

At the AMM, Apec ministers will again take stock of the latest trade-related
developments in the region and renew efforts to keep protectionism at bay.

Last July, at the Apec Ministers Responsible for Trade meeting, Apec
member economies agreed on concrete steps to combat protectionism, including a
peer review mechanism to assess adherence of Apec member economies to free
trade.

The ministers will also review the latest state of the Doha Round of World
Trade Organisation negotiations and explore how to move the talks forward.

The FMM will see finance ministers and heads of the International Monetary
Fund, World Bank and Asian Development Bank discuss the collective challenges
the region faces as it emerges from the crisis and the strategies to sustain and
raise economic growth in the medium to long term.

The strategies to be discussed include reforms to improve economic
flexibility, foster private demand and develop financial markets, as well as
initiatives to enhance infrastructure financing in the region.

Ravi said in their meeting, the leaders would focus on longer-term growth
issues and how to build a more connected and competitive Asia-Pacific region in
the post-crisis landscape.

"Coming after the Pittsburgh Group of 20 Summit in September which agreed to
work towards a sustained and stable recovery, this meeting is an opportunity for
Asia-Pacific leaders to keep up the momentum for reform.

"They will discuss the new growth paradigms needed to foster more balanced,
inclusive, and sustainable growth in the region," he said.
-- BERNAMA