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Finance Ministers from across the APEC region have outlined coordinated actions to be taken in responding to the global financial crisis, as the 15th Annual APEC Finance Ministers' Meeting comes to a close.

While risk to the stability of the international financial system remains, Ministers cite a shift in focus away from wholesale markets and toward the impact of a more general slowdown in global economic activity. International cooperation is considered a complement to domestic policy actions taken in response.

To this end, Ministers have committed to strengthen legal, regulatory and institutional mechanisms to respond swiftly to distressed financial institutions; to strengthen capital markets; and to broaden and diversify the investor base.

They cite the need for greater participation of specialised institutions to provide depth and innovation in markets; and support measures taken by economies and international organisations, including the G7 Finance Ministers and the IMF to stabilize financial markets as well as the real economy.

Ministers acknowledge the importance of multilateral initiatives in the IMF and OECD to facilitate the smooth integration of sovereign wealth funds (SWFs) into the international financial system. They also recognise public-private partnerships (PPPs) as a way to meet infrastructural requirements of both emerging and developed APEC economies, and to foster the development of capital markets with alternative long-term financial assets. A set of common principles is available to APEC economies for use as a reference for formulating guidelines for PPP markets.

In a Joint Ministerial Statement, issued today, Finance Ministers reaffirm APEC's commitment and progress toward regional economic integration:

"Our ongoing objective is to realise the APEC region's economic potential by drawing together the common interests of member economies and exploring opportunities for cooperation and capacity building. It is important that the work of Finance Ministers continues to be aligned with the broader APEC agenda and processes. The Regional Economic Integration Agenda represents one avenue to align this work...

"Prosperity within APEC economies, and globally, depends on maintaining our commitment to free and open trade and investment. An open and rules-based global trading system makes an important contribution to global growth and development. We will resist protectionist measures in all areas that could reverse the economic progress we have made over the last decade. We call for a prompt, ambitious, comprehensive and balanced conclusion to the WTO Doha Development Agenda negotiations."

Commodity prices have decreased but Ministers acknowledge that levels and cost volatility continue to affect APEC economies. In response, they consider as imperative: regulatory frameworks, transport infrastructure and logistics capability to support the efficient movement, handling and marketing of food commodities across the entire food chain.

As a means to improve the quality of public expenditure, Ministers have considered results-based budgeting (RBB) as a means to link funding of general government entities to the results they deliver and to introduce performance benchmarks to budget processes.

They also acknowledged the importance of: "fighting corruption, money laundering, terrorist financing, and other criminal abuse of the financial system"; and of addressing the implications of climate change "on both the environment and the global economy."

The two-day meeting, held in Trujillo, Peru, included representation and input from the International Monetary Fund, the World Bank, the Asian Development Bank, the Inter American Development Bank, the Andean Development Corporation, and the APEC Business Advisory Council (ABAC).

To access the Joint Ministerial Statement, in its entirety, go to:

http://www.apec.org/Meeting-Papers/Ministerial-Statements/Finance/2008_finance.aspx

 



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International trade is a defining factor as economies address the global economic crisis.

"Since last year's APEC meeting, the global environment has deteriorated dramatically, and the financial crisis has spread to emerging economies," said International Monetary Fund (IMF) Deputy Managing Director, John Lipsky yesterday, in a statement at the 15th annual APEC Finance Ministers' Meeting. "While a modest recovery is expected to begin in the second half of 2009... growth in Asia is expected to slow along with the global economy, as exports weaken and spillovers from the global turmoil weigh on domestic demand."

While the situation affects both developed and emerging economies, some are better positioned to cope. This is not, however, to say that the most developed economies will be the ones to fare best. Indeed, Lipsky suggests that in the future, growth should be largely the domain of emerging economies, which are growing three times as fast as developed ones.

An excellent example can be found in Peru, the host of APEC's Finance Ministers' Meeting this week. He explains:

"The economy has opened up significantly to international trade and reforms are going to enhance the business environment, reduce informality and alleviate poverty... We [Lipsky and Peruvian President Garcia] have agreed that Peru is well placed to face the global financial crisis and sustain high economic growth... [Peru's] economic growth at present is the fastest in Latin America and one of the fastest among emerging market economies. Inflation has accelerated... but remains one of the lowest in the region."

It has been a fundamental tenet of APEC that increased trading opportunities lead naturally to markets that are more competitive, diversified and therefore better able to withstand crisis. As part of its social agenda, APEC has enabled those whose access would otherwise be limited to engage in the global marketplace - through training in information and technology and language; and by encouraging lending by financial institutions.

The APEC Financial Ministers Meeting will conclude with the issuing of a Joint Ministerial Statement by the 21 member economies. The Statement will be made available at: http://www.apec.org/Meeting-Papers/Ministerial-Statements/Finance/2008_finance.aspx?t=1

The APEC Leaders Summit (November 23-24) will also address the existing global financial crisis.



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Amid what are widely considered the most difficult economic circumstances since the creation of APEC in 1989, Ministers of Trade and Foreign Affairs from across 21 APEC economies gathered to make recommendations to Leaders this week (19 - 20 November).

"Our commitment," said the group in a Statement today, "is to strengthen regional cooperation through APEC to address the challenging financial and economic outlook, continue to promote trade and investment liberalization and facilitation, support structural economic reforms, improve human security, and ensure that all members of our economies have the training and opportunities to benefit from globalization."

In response to the global financial crisis, APEC economies have stated their intent to oppose protectionism. They have also recommended that Leaders agree not to raise current levels of applied import tariffs during the crisis.

In response to the high cost of food, Ministers agreed to review and update the APEC Food System to be considered by Ministers Responsible for Trade in 2009. In addition, they recognized that export restrictions may prolong and deepen the severity of food price escalation by putting further pressure on global food prices and discouraging agricultural investment needed to increase future production."

Ministers reiterated their belief that a resolution of the Doha Round of WTO negotiations is even more urgent as a result of the global financial crisis. A strong agreement would demonstrate the ability of the international community to work together to strengthen the global economy.

Progress toward regional economic integration was reported, outlining the degree of implementation achieved in 53 specific action areas.

Corporate Social Responsibility (CSR) has been a main theme at APEC this year. According to Ministers, both private and public organizations have a responsibility to protect and promote the well-being of all those who may be affected by business operations. It was specifically recommended that Leaders promote CSR in the region.

Recommendations will be considered by Leaders for adoption (22 - 23 November).

To access the Statement in full, go to:

http://www.apec.org/Meeting-Papers/Ministerial-Statements/Annual/2008/2008_amm.aspx?t=1



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Issued by APEC Business Advisory Council (ABAC)

The APEC Business Advisory Council (ABAC) has concluded the 2nd Small and Medium Enterprises (SME) Summit as it prepares to address regional Leaders.

According to ABAC Chair, Juan Francisco Raffo:

"Smaller businesses will be particularly important to economies as they cope with the outcomes of the global financial crisis. About 80 percent of all workers in the region are employed by SMEs. So the way that economies fare is directly correlated to the ability of SMEs to address both future challenges and opportunities."

Summit participants considered ways to improve their business performance in order to survive in increasingly competitive and challenging markets. These are reinforced by recommendations to be presented by ABAC, calling upon APEC Leaders to implement three support programs:

Technological infrastructure - information communication technology services and technological infrastructure for SME development in all APEC member economies by 2020;

Financing capacity building - comprehensive capacity building programs to reinforce the SME financing capability of all APEC member economies; and

Training - to overcome the shortage of advanced management knowledge and skills, necessary to entrepreneurship and finance and marketing skills.

The recommendations of ABAC are of particular importance to Leaders as the group represents an exclusively private perspective. ABAC comprises some of the most influential business minds from throughout the APEC region. Members are appointed by Leaders of their respective economies.

SMEs account for over 90 percent of all businesses in the APEC region. Beyond wealth generation and distribution, the influence of small business extends to areas such as technological advancement and social development.



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Issued by The APEC Secretariat

The Russian Federation will contribute half a million US dollars to Asia-Pacific Economic Cooperation (APEC) activities in 2009-2010, in support of regional efforts in human security, as well as science and technology development.

Of the total amount, USD 340 thousand will be directed toward Human Security. Explains Russian Senior Official for APEC, Ambassador Vasily N Dobrovolskiy, "We have witnessed considerable progress in building the resilience of Asia Pacific economies to human security threats through APEC's cooperative programs. Numerous capacity building initiatives, of which the Russian Federation has been an active participant, were launched to disseminate best practices and expertise in managing evolving threats and emergencies. However, as we are repeatedly reminded of our region's vulnerability to natural disasters and risks of devastating human and economic costs, the need to further pursue a multifaceted human security agenda becomes essential to securing economic growth and prosperity."

The remainder will be used to support capacity building activities for APEC developing economies. This will include the facilitation of technology flows and the most effective use of technology for the future. Says Ambassador Dobrovolskiy, "It is our firm belief that science and technology are a vital source of sustainable and environment-friendly economic growth."

To APEC, the contribution represents commitment to economic growth and regional partnerships - but also to a broader social stratum. According to Secretariat Executive Director, Juan C. Capuñay:

"This contribution to the APEC Support Fund is specifically intended to strengthen the capacity of APEC's developing economies. This is always important - but it is particularly so this year. As Host Economy for 2008, Peru recognizes that a social perspective is fundamental to APEC's success and this initiative by Russia illustrates that other APEC economies are of the same mind."

APEC considers science and technology an entry point for small, medium and micro-enterprises to the global marketplace.

A memorandum of understanding was signed in Lima today in the presence of Minister of Foreign Affairs of the Russian Federation, Sergey Lavrov; and Peruvian Minister of Foreign Affairs, José Antonio García Belaúnde. In his remarks at the signing ceremony Minister Lavrov commended APEC efforts to mobilize finance for the most urgent activities and stressed the need to pursue APEC projects in spite of emerging economic difficulties.



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Addressing business advisors appointed by 21 APEC Leaders, Peruvian President Alan Garcia said yesterday that APEC economies are best positioned to confront the current financial crisis.

According to President Garcia, the private sector and government must work together.

The financial crisis could have a major impact on Asia-Pacific economies which account for approximately 55% of world gross domestic product (GDP) and about 49% of world trade. Emphasizing APEC's original focus on free trade, investment facilitation and regional cooperation, President Garcia said that this crisis will bring about growth.

"Developing economies are dependent on exporting not only commodities but goods and services. The fast pace of manufacturing and trade between APEC member economies will lead to more international growth and global employment," President Garcia told members of the APEC Business Advisory Council who assembled in Lima just prior to the 16th APEC Economic Leaders' Meeting.

"While the European Union is facing serious financial problems, APEC member economies' growth rate is on the rise. The scenario for APEC economies is good.

"Last year, Peru's GDP grew at 8.9%. In 2008, it is growing at about 9.3%. Peru is an economy that has political responsibility and plays by the rules of the game. Since last year, exports have doubled to a value of US$33 billion. Tariffs on manufactured goods have fallen 9%.

Preparing for a post-crisis situation, President Garcia proposed that Leaders and businesspeople renew their decision to create a free trade area which could contribute to solving the world's financial problems.

"Some countries have a regional interest for instituting a Free Trade Area of the Asia-Pacific.

"This will be the contribution from APEC to solve the crisis. This is its best instrument to be used. We have 30 FTAs within our economies which is enough of a foundation to enter into a free trade agreement for this important region," concluded President Garcia.

APEC Economic Leaders will meet with the business community at the CEO Summit on November 21-22. APEC Economic Leaders will meet together on November 22-23, 2008.

At the conclusion of the ABAC meeting, ABAC members called on APEC Leaders and Ministers to seize the opportunity to respond to the global economic crisis to chart a course that will set all APEC economies on a path of recovery and renewed growth and development.

The ABAC Chair, Mr. Francisco Raffo, said that ABAC views the strong G-20 commitment to an open global economy as fully consistent with the APEC vision.

"Accelerated measures to deepen trans-Pacific regional integration in an open and non-discriminatory way would also rebuild confidence among business in the APEC region," said Mr. Raffo.

"Work towards a Free Trade Area of the Asia-Pacific is seen as a means by which this objective should be pursued," he explained.

 



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Singapore, 7 January 2009 - "It's time to get real," says the new APEC Executive Director, Michael Tay. Assuming his role at a most precarious time in world economic history, he insists on a need to be "down to earth."

"It had to happen eventually," he says of the global financial crisis. "The world has outgrown the structures that existed. Things have changed dramatically in recent decades but institutions have continued to operate in the same old ways. There is no viable way forward but to be open and to accept that things are going to be different now."

2009 marks APEC's 20th anniversary and will see the participation of the world's most recently-appointed leaders in its annual meeting in November.

In the meantime, APEC member economies have committed to stimulate trade and economic growth by:

Resisting protectionism; and

Accelerating economic integration of the Asia-Pacific region.

To learn more about APEC and its working groups, go to: www.apec.org.

APEC Executive Director, Ambassador Michael Tay

Ambassador Michael Tay is the last to serve a rotating term as APEC's Executive Director and will play a lead role in the selection of a fixed-term Director for future years.

Ambassador Tay is known for his contributions to the business and arts communities. Prior to his appointment, he served as Singapore's Ambassador to Russia from 2003 to 2008, where he developed strong diplomatic and business relationships; and established the Russia-Singapore Business Forum. He also commissioned the Russian composer, Vladimir Martynov to compose a symphony about Singapore, which may be heard by visitors to the National Museum of Singapore.

A year fraught with inherent challenges, Ambassador Tay considers 2009 a starting point: "The global situation can be used as a platform on which to build financial systems that better accommodate globalisation; that do not so disproportionately favour the über wealthy; and that enable less developed economies to establish a solid business presence."

Ambassador Michael Tay's CV can be seen in its entirety here. 



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The APEC Business Advisory Council, at its fourth and final meeting in 2008, has called on APEC Leaders and Ministers to seize the opportunity in responding to the global economic crisis to chart a course that will set all APEC economies on a path of recovery and renewed growth and development.

New policies and programs are needed to rebuild confidence. APEC economies must resist potential reactionary measures of protectionism and draconian regulation. Positive actions required include:

Fiscal responses to invigorate demand through appropriate spending on public works, and tax incentives;

Continued measures to ensure a smooth, orderly process of adjustment in financial markets;

Trade liberalisation in the global and regional market; and

Measures to alleviate the difficulties faced by small and medium sized enterprises, and to sustain and promote employment and stability in this vital sector of our societies.


ABAC urges that APEC endorse and support the proposals set out in the G-20 Declaration of 15 November for the implementation of reforms of financial systems.

It views the strong G-20 commitment to an open global economy as fully consistent with the APEC vision and calls on APEC Leaders to throw their weight behind steps to resolve the outstanding issues in the Doha Round of trade negotiations. It strongly supports also the undertaking by G-20 Leaders to refrain from raising new barriers to investment or to trade in goods and services, imposing new export restrictions, or implementing World Trade Organization (WTO) inconsistent measures to stimulate exports. ABAC asks APEC Leaders to match that commitment and consider establishing a process for monitoring and reporting on its implementation.

ABAC considers that accelerated measures to deepen trans-Pacific regional integration in an open and non-discriminatory way would also rebuild confidence among business in the APEC region. Work towards a Free Trade Area of the Asia-Pacific is seen as a means by which this objective should be pursued.

ABAC hosted the second session of the 2008 Summit on small and medium sized enterprises in Lima on 17 November. This session and that held in Hangzhou, China, in August are tangible demonstrations of corporate social responsibility exercised by ABAC members. Many SMEs are being hard hit by the fallout from the global economic crisis. ABAC is urging Leaders to support proposals it has submitted for special programs for SMEs covering technological infrastructure, financing capacity building, and training.

Other issues considered at the ABAC meeting included trade and investment facilitation measures, labour mobility, food security, corporate social responsibility, energy security, ICT-enabled growth and intellectual property rights protection. Work on these and new projects will be continued in 2009 under the chairmanship of ABAC Singapore.

Note: ABAC, comprising influential members of the business community from across the 21 APEC member economies, provides advice from a business perspective to APEC Leaders and Ministers. It will engage in a Dialogue with APEC Leaders on Saturday 22 November on the current issues and concerns facing member economies.



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Singapore, 13 March 2009 - APEC officials will spend the weekend considering the progress of members in trade liberalisation and facilitation. Specifically, Brunei Darussalam, Indonesia, Malaysia and Thailand will be subject to rigorous assessment of fourteen key policy areas affecting trade environments.

Similar exercises are conducted every year as economies review and scrutinise the Inpidual Action Plans (IAPs) of their counterparts. IAPs outline progress made toward achieving the goals set out in the Bogor Declaration of 1994. This declaration established a target of free trade and investment in the Asia-Pacific region by 2010 for developed economies and 2020 for developing economies; and these goals were adopted by all APEC economies.

To ensure consistent progress, the studies are conducted by independent review teams who also consider reports issued by the World Trade Organisation and studies published by experts who have also assessed the economies in question. And during the Peer Review session findings and analysis are discussed openly among members and subsequently made available to the public.

Synopsis' of the four IAP Peer Reviews conducted in 2009 will be made available at the close of the APEC Senior Officials' Meeting on 16 February:

Brunei Darussalam: http://www.apec.org/apec/iap_bn.html
Indonesia: http://www.apec.org/apec/iap_id.html
Malaysia: http://www.apec.org/apec/iap_my.html
Thailand: http://www.apec.org/apec/iap_th.html

Full-length reports may be found at:

Brunei Darussalam: http://www.apec.org/apec/iapreport_bn.html
Indonesia: http://www.apec.org/apec/iapreport_id.html
Malaysia: http://www.apec.org/apec/iapreport_my.html
Thailand: http://www.apec.org/apec/iapreport_th.html

News photos of each review will be available at: http://www.apec.org/Press/Photos/20090213_sg_iapphotos.aspx

 



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Wellington, New Zealand, 12 February 2009 - Meeting against the backdrop of the global economic and financial crisis, members of the APEC Business Advisory Council (ABAC) strongly urged governments to successfully conclude the WTO Doha Round, an to fulfill commitments made at the G-20 Summit and supported by APEC Leaders in Lima in November 2008 responsibly.

"ABAC welcomed the Leaders' November commitment to refrain from raising new barriers to investment or to trade in goods and services over the next 12 months. Despite the drastic deterioration we have seen in the global economy since then, the economic fundamentals that have underpinned the remarkable rate of economic growth in the APEC region over the past decades still hold true. Trade must be encouraged, not restricted. Investment flows should not be constrained. We are increasingly concerned that stimulus packages contain protectionist elements and that some economies have alarmingly shown signs of reversing the course of openness, putting in place measures to protect their markets. More than ever, it is imperative to keep trade and capital flowing and to restore market confidence," said Mr. Teng Theng Dar, ABAC 2009 Chair.

He added "Today, ABAC agreed to establish a mechanism for monitoring compliance with the key elements of the G20 undertakings to address the present financial challenges and WTO commitments in the context of the specter of rising protectionism.. We urge APEC to join us in this exercise." The results will be made public on a regular basis.

Under the theme "Building Towards the Bogor Goals with One Community", in 2009, ABAC will focus on three priorities, namely: accelerating regional economic integration, championing a model of sustainable growth, and strengthening capacity building and enhancing connectivity. The interests of small and medium enterprises (SMEs) will be an overarching theme to be addressed across all discussions.

Whilst seeking to help address the immediate business issues arising from the current economic and financial crisis, ABAC is also working on recommendations to advance the medium-long term agenda of achieving free and open trade and investment in the region. "Although we are focusing on the current crisis, we cannot lose sight of APEC's long term goals as part of efforts to grow trade and investment."

With a view to enhancing interaction between ABAC and APEC, ABAC members engaged in a dialogue with APEC Senior Officials on the topics of trade and investment liberalization, physical connectivity and ease of doing business. Such dialogue will serve to ensure that APEC's work on regional economic integration will address both the immediate and mid to long term business needs.

With the objectives of providing feedback and proposals to revive the APEC economies in a sustainable manner, other important issues discussed during the meeting include trade financing, regional financial cooperation, strengthening banking systems and promoting lending to SMEs, financial inclusion, public-private partnership in infrastructure, strengthening intellectual property rights, investment facilitation, labor mobility, energy security, and the APEC Food System.

During the year, ABAC members will meet with and advise APEC Ministers and develop recommendations that they will present to APEC Leaders at their annual meeting, which this year will be held in Singapore in November.



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Issued by the APEC Secretariat

Singapore, 16 March 2009 - Hong Kong, China has donated USD 200,000 in funds to the APEC Secretariat, in order to develop a methodology to be used to measure the outcome of its Trade Facilitation Action Plan (TFAP II).

The plan calls for an additional 5 percent reduction in business transaction costs by all economies by 2010, on top of the 5 percent reduction achieved under the first TFAP over the period 2002 - 2006.

"APEC is the leading forum in promoting free trade and trade facilitation in the Asia-Pacific region," says Joseph Lai, the APEC Senior Official of Hong Kong, China. "In the face of the current challenges in the global economy, it is all the more important to continue to streamline processes and reduce trade transaction costs. We hope that our contribution will support initiatives that lead us closer to the shared vision of free trade. It also reflects the importance we attach to the successful implementation of the TFAP II."

APEC Secretariat Executive Director, Michael Tay adds: "At a time when trade flows are a real concern for APEC - and for the entire world, this contribution from Hong Kong, China is very significant to APEC. Trade facilitation is fundamental to business and it is APEC's forte."

Funds will be directed to APEC's Policy Support Unit. The Policy Support Unit oversees analysis and evaluation and coordinates technical cooperation toward APEC's agenda.

The TFAP II can be seen at: http://www.apec.org/Press/News-Releases/2009/~/media/Files/Press/NewsRelease/2009/2007Par0013Filev1.ashx

 



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Singapore 16 March 2009 - "There is a strong consensus that restrictions on trade and investment will only deepen and prolong the economic downturn," says Ravi Menon, APEC 2009 Chair of the Senior Officials' Meeting.

For the first time ever, APEC Singapore 2009 has brought together APEC Senior Officials and Finance Officials for a joint dialogue. Among them, it was widely agreed that the fiscal, monetary, and credit facilitative measures by inpidual APEC economies have spillover effects on other economies.

Specifically, officials:

Considered the problem of trade financing and the measures taken by various economies to facilitate trade financing;

Expressed concern over the rise in pressure to implement protectionist measures;

Agreed to draw on the WTO mechanism to monitor trade policy and inputs from the APEC Business Advisory Council as the basis for a report on compliance with the Leaders' commitment in Lima;

Agreed that the best contribution to sustaining growth in the Asia-Pacific region over the mid-term would be through accelerating regional economic integration.

This is an excerpt of a more extensive summary, which can be found at the APEC 2009 Singapore website at: www.apec2009.sg

 



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Singapore, 11 March 2009 - Forecasters, disaster planners and researchers can now create customised climate predictions, anywhere on earth. The online Climate Information Tool Kit, known as CLIK and available at http://clik.apcc21.net, was created to assist developing economies detect, prepare for and reduce the impact of harmful weather and climate conditions.

Modern technology allows established economies to predict future weather and climate patterns by feeding internal and external data into model equations. However, these calculations are seldom shared. This means that, until now, economies lacking in technical infrastructure have been unable to access the information they need to prepare for and reduce the impact of natural disasters.

Departing from past norms, climate centres throughout the APEC region have made their own calculations available for use, free of charge, anywhere in the world.

To further expand the reach of this resource, CLIK employs user-friendly online technology (Ruby), enabling users to create a customised prediction for any selected region. This technology has already been awarded the Fukuoka Ruby Award, Grand Prix for its technical merit and potential contribution to society.

CLIK is the result of a collaborative accord reached during the APEC Climate Symposium in 2007 and is implemented through the APEC Climate Centre (APCC) in Korea. The APCC produces real-time operational climate prediction information based on a multi-model multi-institute ensemble (MME) system. It is currently the largest prediction system in the world.

The APCC aims to achieve the APEC vision of regional prosperity through the reduction of economic losses due to abnormal climate.

 



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Singapore, 2 March 2009 - An all expenses-paid trip to present their views at the annual APEC CEO Summit - a gathering of the Asia-Pacific's top business people, which will be held in Singapore this November - may just motivate business students to knock out one more paper.

Celebrating its 20th anniversary this year, the Asia-Pacific Economic Cooperation (APEC) invites senior level and postgraduate students from business schools in APEC member economies to write an original essay discussing: "What can APEC do for business?" The topic, intended to stimulate discussion surrounding APEC's core mission and long-term goals of free and open trade and investment, has been kept broad, to allow for the greatest range of perspectives and ideas.

"We put a good deal of thought into the best way to celebrate our anniversary," says Michael Tay, Executive Director of the APEC Secretariat. "We decided that the most appropriate way to reflect our values as an innovative and inclusive body would be to stimulate discussion - and maybe even debate - surrounding APEC and business and how they can work together in the new economic landscape."

Three winners will receive prizes totalling USD 5,000. The top essayist will present his or her work at the CEO Summit taking place in Singapore in November 2009 and will have the chance to meet his/her economy's Leader. This experience includes the cost of flights to Singapore, hotel accommodation and a per diem allowance, in addition to a USD 500 cash prize.

The second prize winner will be awarded USD 1,000 and the third prize winner USD 500.

For complete submission details, please visit: www.apec.org/20years

 



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Singapore, 1 April 2009 - Maintaining free and open markets and restoring market confidence are the two most critical and immediate tasks to be addressed, say business people across the Asia-Pacific.

In an official letter to the G20, APEC's Business Advisory Council (ABAC) insists on the "urgent need for Leaders to implement bold policies with the objectives of restoring market confidence, increasing consumer demand and stabilising financial markets to ensure that trade continues to flow freely."

"The global economy is already heavily weighed down by a lack of confidence," explains ABAC Chair, Teng Theng Dar. "Any increase, actual or perceived, in protectionist measures will only serve to weaken market confidence and lead to a lock down of world trade."

At the end of last year, both APEC and the G20 denounced barriers to investment and trade in goods and service. Nonetheless, some recently-implemented policy changes have raised questions of possible "backsliding" against these commitments.

Among ABAC members, the pressure for governments to implement protectionist policies remains a primary concern. In fact, the group has shared plans to "establish a mechanism for monitoring compliance with the key elements of the G20 undertakings to address the present financial challenges and compliance with WTO commitments in the context of the spectre of rising protectionism."

ABAC urges APEC Leaders attending the G20 Meeting to remain faithful to their commitment to the APEC Leaders' Declaration made in Lima, and to "seek the same commitment from the rest of the G20 Leaders." In addition, it insists that G20 Leaders should seek the conclusion of the World Trade Organisation (WTO) Doha Development Agenda (DDA) as a means to counter protectionist inclinations.

ABAC advises Leaders of the Asia-Pacific Economic Cooperation (APEC), providing specific recommendations to improve the business and investment environment. Nine of the heads-of-government attending the G20 meeting represent APEC member economies.



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Manila, Philippines, 29 April 2009

Amid the succession of recent threats to transportation and supply chains in both individual and global economies, APEC Transport Ministers express their resolve to ensure "seamless and environmentally friendly transportation systems" throughout the APEC region. In a Statement issued today, Ministers addressed the challenges before them.

Economic Challenges

Having recently witnessed disturbing events in the global financial and energy sectors, we applaud the substantial stimulus measures taken by APEC member economies and note the unprecedented level of investment across the region in transport technologies and infrastructure. We support targeted and strategic investment in transport infrastructure and systems generating short-term impacts on growth and employment and long-term opportunities for economic development and improved environmental sustainability.

We also urge all APEC member economies to recognise the long-term benefits of open markets and economic integration, as well as the importance of fair and equitable opportunities and to continue to work towards agreements or other means to achieve transport liberalisation to enhance mobility of people and goods in the APEC region.

Swine Flu

Concerned by the recent public health developments in a number of our economies, we call upon our officials to work closely with the transportation industry and with their colleagues in the public health agencies to enhance preparedness for and contain the spread of pandemic influenza.

Piracy

We condemn in the strongest possible terms, acts of piracy and armed robbery against ocean going vessels and innocent seafarers off the coast of Somalia and express our collective support of the decisive actions of the United Nations (UN) and relevant organizations to protect vital international shipping lanes for overseas trade. We encourage further concerted efforts to fight against piracy.

Energy and Food Prices

The current global economic crisis and volatile energy prices have not only undermined the economic gains we have achieved over the past several years but have also threatened transportation components of each economy and the global transport supply chain. We share the concerns of our Leaders about the negative impact of volatile global food prices. We recognise that transportation and distribution systems are necessary to help stabilise these prices.

Greenhouse Gas Emissions

We recognize that greenhouse gas emissions and their impact on climate change present a major global challenge to the environment and the need for transportation to make its contribution to the global response to this challenge. In particular, we acknowledge the work of the IMO and International Civil Aviation Organization in addressing international maritime and aviation emissions. APEC Transportation Ministers support global solutions to a global problem and advocate the work at IMO and in ICAO's Group on International Aviation and Climate Change in support of the United Nations Framework Convention on Climate Change.

Ministers met in Manila (27 - 29 April 2009) to continue their work towards achieving a safe, secure and efficient transportation system, with a view to realizing free and open trade and investment in the region. They will next meet in 2011. To view the Joint Transportation Ministerial Statement in full, go to: http://www.apec.org/Meeting-Papers/Ministerial-Statements/Transportation/2009_transport.aspx



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Singapore, 12 May 2009 - The APEC Business Advisory Council (ABAC), composed of the most influential businessmen of the Asia-Pacific region, will convene in Brunei on May 12-15 for their second meeting of 2009 to develop its recommendations on how APEC governments can respond to the global economic crisis that is now facing a new threat of global pandemic.

In this regard, ABAC has placed great importance on the need to promote the growth of world trade as a key component to the global economic recovery. World Trade has declined for the first time in 25 years which on a year on year basis has fallen 9%. ABAC therefore applauds the pledge made by the G20 Leaders at their economic summit in London on 2 April to promote trade and reject protectionism as key components of the global economic recovery effort.

ABAC had sent a letter to the 9 leaders from the 21 APEC economies who were involved in the G-20 meeting, reiterating the importance of clear and coordinated action by both APEC and non-APEC G20 members to fight against protectionist inclinations before the commencement of the summit. In the letter, the Council exhorted the G20 Leaders to remain firm in supporting the conclusion of the World Trade Organization (WTO) Doha Development Agenda (DDA), to resist any reactionary measures of protectionism. Hence, the Council champions the G-20 Leaders' declaration of their personal commitment to reach an ambitious and balanced conclusion to the Doha Development Round and the initiative to prioritise the negotiations. ABAC will also undertake another visit to WTO in Geneva to register regional business support for a positive outcome.

While supporting the G-20's commitment to restore growth via the restoration of domestic lending and international capital flows, ABAC warns that the way ahead should not consist only of a series of stimulus packages and that there were salutary lessons to be learned from the 1929 "crash" and the 1997 Asian financial crisis. Additional spending packages should promote economic and structural reform and not be a means of solely rescuing poor performing sectors or enterprises. A credible and transparent surveillance mechanism is primary to monitor this process.

To address the immediate challenges of the economic crisis, ABAC will undertake the development of business oriented proposals on such issues as financial protectionism and trade financing. ABAC has proposed for members to share information on stimulus packages or measures that have been rolled out by their governments.

ABAC is also concerned about the impact of the threat of a pandemic of a new strain of Influenza- A (H1N1) virus on businesses in this current tough time. ABAC highlights the critical need for timely information about the influenza to be released by relevant authorities to the regional business community to help individual companies better prepare continuity plans and implement counter measures. ABAC also stresses the critical requirement of adequate emergency preparedness by business and, derived from our past experience with the avian influenza, that public-private partnership and effective communication channels are key components to the response to a potential health pandemic. ABAC commends to SMEs and businesses in the region a web-based checklist (https://www.abaconline.org/v4/sme-checklist.php), developed in collaboration with the UN System Influenza Coordination (UNSIC), so that they can find out where they stand in terms of pandemic preparedness.

ABAC was created by APEC Leaders to provide them the business perspective on regional economic integration. Its members are appointed by the Leaders of each APEC member economies. Teng Theng Dar of Singapore is the current chair of ABAC.



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Key business leaders of the Asia-Pacific region have urged the Leaders of the twenty-one member economies of APEC to take action to promote the recovery of world trade - expected to decline by 9% this year - which they see as vital in overcoming the global economic crisis.

At their second meeting in Brunei, the APEC Business Advisory Council (ABAC) put forward a letter to Leaders on their views and recommendations for immediate action to combat the current economic crisis. In the letter, ABAC urged Leaders to accelerate the efforts to achieve integration among their economies through the faithful adherence to the Bogor Goals and to realizing their vision of a 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 and more trade-restrictive measures are being put in place and that protectionism seems to be on the rise. We asked Leaders to abide with their commitment not to introduce any new barriers to trade in response to the crisis even if these appear to be WTO-consistent. This is the time for APEC to show its leadership and to reaffirm the APEC spirit of free and open trade and investment or else APEC will risk losing its credibility and relevance" said Mr Teng Theng Dar, the ABAC Chair.

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

In a separate communication to APEC Ministers Responsible for Trade, ABAC has set out its views and recommendations related to APEC's agenda: regional economic integration, strengthening capacity building, sustainable development and enhancing connectivity in the region.

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

About ABAC

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 ABAC members met for the second time in 2009 on May 12-15 in Brunei Darussalam.



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APEC Senior Officials met from 2-3 March in Lima to agree on APEC's work agenda for 2008. Topics of discussion included WTO negotiations and regional economic integration.

Supporting the multilateral trading system remains the highest priority for APEC Economies. APEC Senior Officials noted the recent positive development in the Doha Round and committed to work towards an ambitious and balanced outcome that delivers real commercial gains.

APEC Senior Officials reaffirmed the importance of the role the Information Technology Agreement (ITA) has played in promoting trade, investment, and economic growth in APEC economies over the last ten years. Senior Officials also expressed concern about products covered by the ITA that may no longer be receiving duty free treatment in some key markets because of their technological innovations. They expressed further concern that these recent developments will undermine the ITA, and agreed to work together to ensure that the integrity and original spirit of the ITA is maintained.

Officials agreed on a plan to implement the recommendations of a report on regional economic integration, endorsed by APEC Economic Leaders in 2007, including practical and incremental steps to explore a Free Trade Area of the Asia-Pacific (FTAAP).

It was agreed that APEC should play a role in the work on Corporate Social Responsibility (CSR) in the region. To this end, CSR is to be incorporated into APEC's broader agenda of improving the business environment and economic prosperity of the Asia-Pacific. Addressing issues of structural reform and reducing behind-the-border impediments will also be a focus of APEC's work this year. Senior Officials also discussed issues of anti-corruption and counter-terrorism.

Senior Officials agreed to the arrangements for the establishment of a Policy Support Unit within the APEC Secretariat and explored the issues related to the recruitment of a fixed-term APEC Executive Director.



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Hong Kong, China has signed a Memorandum of Understanding (MOU) with the APEC Secretariat for the donation of US$ 500,000 toward the Second Trade Facilitation Plan (TFAP II).

APEC's second TFAP calls for a reduction of trade transaction costs by 5 percent on the part of all member economies by 2010.

Signed by Joseph Lai, Director-General of Trade and Industry and Ambassador Juan Carlos Capuñay, Executive Director of the APEC Secretariat, the MOU earmarks funds for capacity building activities through the APEC Support Fund (ASF). The ASF provides a flexible funding mechanism to support capacity building activities for APEC developing economies.

Capuñay explains that economic impacts on the business community are enhanced through collective actions. Capacity building efforts are therefore intended to equip developing member economies to enter into collaborative efforts to address trade-related issues.

The donation reflects the importance attached to the Action Plan and to the recognition that capacity building is integral to its success. Says Lai. "We hope that our support for the plan will encourage other member economies."

The TFAP II emphasizes issues of customs procedure, business mobility, standards conformance and electronic commerce. To the same degree that it emphasizes the benefits of collective action, the plan also allows Member Economies to initiate and implement activities and measures as and when they are ready to do so.

Since the ASF was established in 2005, donations from other economies have funded a number of projects is areas such as human resource development and human security.




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APEC Ministers prepare to meet in Bangkok, later this week (23 - 25 April 2008) to address challenges in telecommunications and information.

With free trade and investment as goal, the swift flow of information between economies is critical. To this end, APEC has already tripled internet access since 2000.

Nonetheless, access and expertise still varies between economies and Ministers have determined to reduce these disparities.

Explains Mr. Worapat Tiewthanom, Deputy Permanent Secretary, Ministry of Information and Communication Technology, Thailand, "Universal access will maximize opportunities for trade and investment; this will have a positive effect on both macro- and micro-economies."

Access to the internet enables small to medium enterprises to participate in a global forum, expanding their range of business opportunities exponentially.

This year, APEC has incorporated a social dimension to its agenda and this will be a significant element in this week's talks. For example, better and more consistent regional infrastructure may be used as a vehicle to address long-term challenges, such as climate change.

Offers Dr. Arnon Tubtiang, APEC Working Group Chair:

"It's quite an interesting dynamic: in a global context, prosperity - and even survival - depends on the ability to exchange knowledge and to make progress toward shared goals. So it is imperative that regional telecommunications be efficient, consistent and coordinated."

Key issues of discussion among Ministers this week will include: reliable technical infrastructures; universal access; ICT skills education; the prevention of cyber crime and abuse; and policies conducive to competition and consumer information.



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Tourism is not just a source of revenue, say experts at the APEC Tourism Working Group. The two day meeting, which began today, assembles representatives from across the Asia-Pacific region. While the economic benefits of tourism have long been acknowledged, the industry is fast emerging as a platform for more complex challenges - environmental ethics, corporate social responsibility and social inclusion.

Explains the group chair, Helen Cox of the Australian Government Department of Resources, Energy and Tourism:

"Tourism is a significant contributor to the GDP of many APEC member economies, but it has the potential to improve the lives of people in other dimensions. It is important that industry is not only profitable but also sustainable. Proper economic planning means looking ahead, anticipating the outcome of trends and finding ways to maximize gain, and to contribute in a positive way to the quality of life in local communities."

Tourism is a key economic driver for the APEC region. Even the cumulative effects of SARS and the tsunami of 2004 did not curtail the upward flow of tourists to the region. In 2006, Asia-Pacific claimed 20 percent of international tourist receipts (an equivalent of US$ 153 billion).

"Traditionally, tourism has been a tool for economic development," says Dr. Ian Kean, Executive Director of the APEC International Center for Sustainable Development. "But it's insufficient. It can upset lifestyles and the environment. It's no longer acceptable."

Conversely, tourism can be used as a vehicle to improve a situation. For example, Kean offers, tourism can bring about community pride, stimulate planning and the establishment of facilities, and lead to greater appreciation on the part of both tourists and local communities.

In preparation for the meeting of Ministers (9 - 11 April), the working group will address: social inclusion and indigenous tourism; corporate social responsibility; environmental responsibility; cultural tourism; and aviation connectivity.

Opening remarks audio file is available for download.



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Who Needs Women? APEC Women Leaders Consider Their Options at the 13th APEC Women Leaders' Network Meeting.

Arequipa, Peru, 12 May 2008

Issued by the Women Leaders' Network

In spite of market progress, businesswomen across the Asia-Pacific continue to face many of the same old problems. According to Dr. Lorna Wright of the Schulich School of Business at York University in Canada, they still encounter major challenges in accessing credit, acquiring business management skills and in coping with disproportionate family and household duties.

The Women Leaders' Network (WLN) is currently meeting in Arequipa (12 - 14 May) to discuss the challenges and opportunities of globalization and trade for women; and ultimately to make recommendations to APEC officials.

Explains Andrina Lever, President of Lever Enterprises and member of the WLN, "We're not an official part of APEC but we are listened to and no official has ever refused to attend our meetings. Like APEC, we fly no flags, we have no budget and there is no formal administration. We come together as equals."

APEC economies comprise both some of the most and least developed economies and WLN discussions draw from a range of socio-economic paradigms. For example, it is an equally significant indicator to Dr. Wright that women tend to engage in business because they have to, whereas men do business because they choose to. They lack the passion that is, for men, an advantage.

Having identified the most common impediments to women in business, the WLN has focused its efforts on what it refers to as its three pillars. That is, support for: the digital economy; guidelines for women in export; and the development of successful microenterprises.

To this end, key discussion areas include small and medium enterprises (SMEs), access to markets and the impacts of Free Trade Agreements (FTAs) on women. Also receiving attention is the potential of rural women and ensuring that women across all economies can participate in digital economy and benefit from digital prosperity.

Recent studies have revealed that when women are included in business, tangible benefits are experienced both in business and in society.

Increasing female inclusion, then, is a practical way to address a multiplicity of issues at once.

In the host economy of Peru, Minister of Women and Social Development, Susana Pinilla Cisneros believes in the potential of export. "Women's participation in business is limited to the micro enterprise sector, to informal and less productive activities," she says. She also points out that only two percent of Peruvian products are directly exported, suggesting a wealth of possibilities that have yet to be exploited.

Running concurrently to meetings is the Women in Trade Exhibition of Business Women's Products. This has drawn over 100 participants and serves as a forum to make business contacts and to negotiate export agreements among women entrepreneurs.



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Universal access is not enough, say Ministers at the 7th APEC Ministerial Meeting on the Telecommunications and Information Industry (TELMIN 7).

Adopted today after a series of meetings entitled, "Digital Prosperity: Turning Challenges into Achievement," the Bangkok Declaration boldly asserts the importance of cross-border telecommunications that are not only efficient but insists that they should be "seamless."

The group is recognized for its ability to achieve its targets: the Brunei Goal of Tripling Internet Access within the Asia-Pacific region, set in 2000, has already been achieved and the goal of universal Internet by 2010 is within reach.

Determined to add a social perspective to the APEC agenda, the need for reliable infrastructure and service is all the more pronounced. States the Bangkok Declaration:

"Ensuring universally accessibly ICT infrastructure and services to bridge the digital divide is crucial to our future social and economic prosperity..." and that economies should "continue their efforts to expand the reach of networks with the ambitious goal of achieving universal access to broadband by 2015."

Present at the adoption, the private sector was recognized as a key partner in providing users with "seamless cross-border telecommunications and value-added services at competitive prices".

At the same time, for recommendations in the declaration to be successfully carried out would demand continuous intra-regional discussions of regulatory and policy approaches. In this respect, telecommunication and information industry activities are critical to APEC. Dialogues between economies will be fundamental in addressing a fluid and unpredictable market environment and global issues such as climate change and natural disaster. The declaration will be submitted to APEC Economic Leaders when they meet in Lima in November 2008.

The APEC Telecommunications and Information Working Group (TEL) works continuously toward the achievement of the Bogor Goals of free and open trade and investment in the Asia Pacific region by 2010 for developed economies and 2020 for developing economies.

APEC Economic Leaders indicated their collective commitment to regional economic integration, to free and open markets, to the security of our people, and to address the challenges of climate change in Sydney Australia, 2007 ("Strengthening Our Community, Building a Sustainable Future").



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Women throughout the Asia-Pacific have a message for APEC Ministers: women are critical to regional economic growth. Throughout meetings in Arequipa, Peru, the network has considered the negative impact of the marginalization of women as economic contributors.

The Asia-Pacific, which includes both some of the world's most and least developed nations, boasts a cross section of women leaders, determined to increase the inclusion of women in trade and export policies.

Specifically addressing Ministers responsible for trade, the Women Leaders' Network (WLN) asserts that APEC Ministers should advise their departments to provide and develop export credit plans and micro-finance for small and micro-enterprises; and that they should include relevant women and women's organizations in the planning, negotiation and implementation of trade agreements.

Similarly, they have emphasized the need to make e-technology available, affordable and sustainable for women, including indigenous women and those in rural areas.

Noting the potential of technology to multiply the opportunities available to women, the group calls on both the APEC Human Resources Development (HRD) and Telecommunications and Information (TEL) working groups to develop an action plan to advance the education of women and girls in science, technology and information and communications technology (ICT) as well as in enterprise skills, beginning at school level.

A recurring theme throughout all areas is the need to collect and analyze sex-disaggregated data on areas including trade and entrepreneurship; the number of women-led enterprises in the formal and informal economy; and micro- and small-enterprises. Vice Minister and 2008 WLN Chair, Dolores Tasayco stresses the importance of gender specific data in order to accurately determine real progress.

A complete outline of recommendations issued may be found online at: www.apecwln.org

In order to ensure adequate representation of women's interests in relevant arenas, the WLN has asked to be granted guest status at APEC working group meetings; and that one woman from each economy be appointed to APEC's Business Advisory Council (ABAC) from 2008.



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Issued by the Telecommunications and Information Ministerial Meeting

Universal access is not enough, say Ministers at the 7th APEC Ministerial Meeting on the Telecommunications and Information Industry (TELMIN 7).

Adopted today after a series of meetings entitled, "Digital Prosperity: Turning Challenges into Achievement," the Bangkok Declaration boldly asserts the importance of cross-border telecommunications that are not only efficient but insists that they should be "seamless."

The group is recognized for its ability to achieve its targets: the Brunei Goal of Tripling Internet Access within the Asia-Pacific region, set in 2000, has already been achieved and the goal of universal Internet by 2010 is within reach.

Determined to add a social perspective to the APEC agenda, the need for reliable infrastructure and service is all the more pronounced. States the Bangkok Declaration:

"Ensuring universally accessibly ICT infrastructure and services to bridge the digital divide is crucial to our future social and economic prosperity..." and that economies should "continue their efforts to expand the reach of networks with the ambitious goal of achieving universal access to broadband by 2015."

Present at the adoption, the private sector was recognized as a key partner in providing users with "seamless cross-border telecommunications and value-added services at competitive prices".

At the same time, for recommendations in the declaration to be successfully carried out would demand continuous intra-regional discussions of regulatory and policy approaches. In this respect, telecommunication and information industry activities are critical to APEC. Dialogues between economies will be fundamental in addressing a fluid and unpredictable market environment and global issues such as climate change and natural disaster. The declaration will be submitted to APEC Economic Leaders when they meet in Lima in November 2008.

The APEC Telecommunications and Information Working Group (TEL) works continuously toward the achievement of the Bogor Goals of free and open trade and investment in the Asia Pacific region by 2010 for developed economies and 2020 for developing economies.

APEC Economic Leaders indicated their collective commitment to regional economic integration, to free and open markets, to the security of our people, and to address the challenges of climate change in Sydney Australia, 2007 ("Strengthening Our Community, Building a Sustainable Future").



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Women throughout the Asia-Pacific have a message for APEC Ministers: women are critical to regional economic growth. Throughout meetings in Arequipa, Peru, the network has considered the negative impact of the marginalization of women as economic contributors.

The Asia-Pacific, which includes both some of the world's most and least developed nations, boasts a cross section of women leaders, determined to increase the inclusion of women in trade and export policies.

Specifically addressing Ministers responsible for trade, the Women Leaders' Network (WLN) asserts that APEC Ministers should advise their departments to provide and develop export credit plans and micro-finance for small and micro-enterprises; and that they should include relevant women and women's organizations in the planning, negotiation and implementation of trade agreements.

Similarly, they have emphasized the need to make e-technology available, affordable and sustainable for women, including indigenous women and those in rural areas.

Noting the potential of technology to multiply the opportunities available to women, the group calls on both the APEC Human Resources Development (HRD) and Telecommunications and Information (TEL) working groups to develop an action plan to advance the education of women and girls in science, technology and information and communications technology (ICT) as well as in enterprise skills, beginning at school level.

A recurring theme throughout all areas is the need to collect and analyze sex-disaggregated data on areas including trade and entrepreneurship; the number of women-led enterprises in the formal and informal economy; and micro- and small-enterprises. Vice Minister and 2008 WLN Chair, Dolores Tasayco stresses the importance of gender specific data in order to accurately determine real progress.

A complete outline of recommendations issued may be found online at: www.apecwln.org

In order to ensure adequate representation of women's interests in relevant arenas, the WLN has asked to be granted guest status at APEC working group meetings; and that one woman from each economy be appointed to APEC's Business Advisory Council (ABAC) from 2008.



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Leading business representatives from the Asia-Pacific region have made a strong call for actions by governments to bring the Doha Development Round of multilateral trade negotiations to a successful conclusion within the next three months.

Speaking in Moscow today, the Chair of the APEC Business Advisory Council, Mr Juan Francisco Raffo, said that the time had come for political decisions to conclude the negotiations and release the results for public scrutiny and debate.

In Geneva, trade negotiations have been gaining in momentum throughout past weeks and outcomes in agriculture and non-agricultural market access, services and other vital areas had begun to take shape, according to the World Trade Organization.

The ABAC delegation has urged the negotiators to complete their work so that the package could be signed off before the end of August. The credit crisis and the supply and rising cost of food have added to pressures on the global economy. Governments require the sort of support that may be available through the WTO and other international organisations.

"This is not a time for delay in the Doha Round negotiations," explains Raffo. "On the contrary, a high level outcome would inject new confidence into the global economy, help to counter protectionist pressures and provide a more stable environment for governments and business to work together on resolving the difficulties now faced."

ABAC understands that the technical work on agreements on major sections of the negotiations is close to completion. Documentation should be considered as a matter of urgency, with a view to completing the negotiation process. ABAC will be conveying this view to APEC Ministers of Trade who will be meeting in Peru at the end of May, and to their individual Governments. ABAC invites other business people and organizations to make similar approaches to Governments so no doubt can be left of the vital importance placed by business on the case for urgent resolution of the outstanding issues and the achievement of a comprehensive and balanced result.



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The GFPN has recognized the need for closer collaboration with all appropriate APEC fora in order to ensure that gender considerations are central to processes such as reform, policy, and project development and reporting. To this end, the group has issued recommendations to the Sub-Committee on Economic and Technical Cooperation (SCE) to be put before Senior Officials. Notably among these are:

The provision of support at the Economy and APEC level for trade capacity building assistance for women across the APEC region, particularly in developing economies, to assist women to have access to markets and benefit from free trade and globalization; and

The inclusion of the gender implications of trade as a key policy issue to be considered by APEC Economic Leaders and Ministers.

Negative impacts on women lead to negative impacts on the economy. Research has shown that gender discrimination and the marginalization of women costs APEC economies an approximate US$ 80 billion, each year.

At the 6th Gender Focal Point Network (GFPN) meeting, representatives of APEC's very distinct and diverse economies shared best practices in advancing the status of women in trade and - by extension - their respective economies, on the whole.

Among recent notable achievements are:

New legislation to protect women's human rights in areas of trafficking and domestic violence. This is possibly an outcome of the presentation of findings by Australia to Finance Ministers at the Seminar on Fiscal Space (Brunei, December 2007), which explored the actual cost of domestic violence.

Gender sensitivity training of officials in sectors requiring interaction with vulnerable women in the United States; and
The Indonesian Project, "Women in Times of Disaster", examining best practices in disaster prevention, response and rehabilitation.

Canadian research findings suggested the need for engendering trade negotiation mandates and strengthening APEC's capacity to address the gender dimensions of trade.

In response to these findings, Canada will lead a collaborative effort with the Philippines, Peru and the United States, to develop a trade database to be posted on the APEC/GFPN website. This is scheduled for completion by the end of 2008.



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Gender is neither "an issue", nor is it an exclusive concern among women, say delegates from Asian-Pacific economies. In fact, they insist, embedding a gender perspective in all APEC projects and working groups is a precursor to realizing the full economic potential of the region.

At the 6th meeting of the APEC Gender Focal Point Network (GFPN), gender is being addressed as a mutually-affecting concept:

"When we talk about gender equality, we're not only talking about women" explained a delegate of Indonesia. To advance the economic status of women is inextricable to the advancement of men and to the APEC region.

Because economies throughout the region exhibit disparate rates of gender integration, the GFPN provides expert advice on the gender considerations of project proposals and has developed guidelines to facilitate.

For example, APEC's Small and Medium Enterprises (SMEs) working group has applied these guidelines and - since women account for more than 50 percent of small business owners in certain economies - this is anticipated to have significant regional economic impact.

Some critics say that change occurs too slowly. Janet Stodulka of the Australian Government Office for Women acknowledges that, "Actually quantifying the extent to which women have been integrated in APEC is a difficult task."

GFPN Chair, Dr. Dolores Tasayco responds, "Movements for gender equality have been a series of progress and set backs. This is true throughout history and in all parts of the world."

Rather than expecting imminent results, she says, gender advocates should be diligent and consistent in "following up every action that implies gender equality, women's empowerment and the development of their skills. That is what will make each one of us effective as an agent of change in our own economy."

The achievements of GFPN, an institutional mechanism affecting progress toward the equal participation of women and men in APEC economies, are implemented through senior level participation and political commitment.



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As the adverse effects of climate change are seen across the globe, APEC economies considered how APEC might mitigate their negative impact. The Market Access Group (MAG) met to consider what constitutes an environmental good and service and possible ways to increase their trade.

Plans are in initial stages and the group has been in discussion with experts from the field. However, there is wide consensus that plans be established as a matter of urgency.

Considerations include the possibility of a voluntary database of environmental goods and services, as a means of information sharing and as a first step in a process. The proposed database is described as a "user friendly, easily accessible way to obtain information on environmental goods and services, which has often been difficult to access."

"We see both information sharing and the ability to engage more broadly on substantive issues surrounding environmental goods and services as two key benefits of this project," says a delegate of the United States.

It would also facilitate actions to be taken as a result of Leaders' statements.

Another environmentally-friendly practice would be the effective use of remanufactured products:

"For example," explains MAG Chair, Walter Goode, "you could take a bulldozer that was used for some time and which was in need of updating. You could renovate that bulldozer to the extent that it would function like new, except that it would be much cheaper." It would also result in less non-biodegradable waste.

Concern was also expressed with regard to the rising cost of food, globally, and attentions are focussed on addressing non-tariff barriers to trade in food, Sustainable food production, eco-labelling and escalating prices have been identified as discussion areas for the group's next meeting in August.

MAG is also involved in work relating to regional economic integration. Presently exploring Rules of Origin (ROO), MAG is considering ways to render them less convoluted.



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APEC's Chemical Dialogue has developed two reports for endorsement by APEC Ministers - the first on principles for best practice chemical regulations, and the second on issues associated with the implementation of the United Nations Globally Harmonized System (GHS) for the Classification and Labelling of Chemicals. The implications of such an endorsement would affect businesses and private entities alike.

"If the principles for best practice chemical regulation are adopted, it will make intra and inter-regional trade easier," explains Shane Baker, Manager of the Chemicals Regulation Reform Section of the Australian Government's Innovation and Industry agency. "Goods and services should be cheaper - both in terms of the cost to businesses and to consumers."

Aside from cost, he says: "Unreasonable regulation stifles innovation. The price of introducing new chemicals can be prohibitive. The expense of things like different testing and packaging requirements can discourage their release - even if they are greener and better than those currently available."

The GHS report identifies ways to ensure that the GHS is implemented in a clear and consistent manner. The Government Co-Chair of the Chemical Dialogue noted that implementation of a harmonized labelling scheme for chemicals could cut costs significantly for businesses, which otherwise might have to use different labels to describe the same chemical product depending on the export market. Essentially, she says, the GHS will harmonize both format of the labels and the information that must be included on them.

While it seems relatively straight forward, the move to implement GHS will inevitably be met with numerous challenges.

"It's actually quite complex," explained Mr Baker. For example, requirements for labelling of small quantities sold to consumers may be different to that for industrial use, as the risks involved may be quite different.

"The challenge is to achieve a system that is harmonious but which is still relevant." And that would mean benefits for all, businesses and consumers"



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Peru will conduct an exercise in civil aviation, testing the response of APEC economies in a hypothetical emergency, modeled on a situation of terrorist attack.

APEC's Counter Terrorism Task Force addresses issues of security affecting trade. To this end, a series of exercises will determine future prospects for emergency preparation and the potential for collaborative actions throughout the region.

In one exercise, designated contact points will be contacted by Peru as a means of testing the ability of economies to respond quickly in the case of an emergency in civil aviation.

An official at the office of the Peruvian Senior Official's, Raúl Salazar Cosío explained:

"The network is already established. But the exercise will reveal the extent to which economies are able to respond to collective alerts and whether the network is always ready and prepared to deal with a possible threat."

The results of this exercise will be shared at the next Senior Officials Meeting in August.

Other task force initiatives include cooperation among Peru and the United States in a pilot programme for food defence against deliberate acts of food contamination.

"As of yet, we have to improve coordination between the public and private sectors to stop the spread of contaminated food. Our increasing levels of foreign trade and the proportion of food exports in it means that this sort of coordination is imperative," says Salazar Cosío. "This is a very natural progression for an open economy like Peru." The project would endeavour to train private enterprises to guarantee the safety of food products throughout the processing chain.

The Counter Terrorism Task Force meets three times per year, prior to the Senior Officials' meeting.



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As the Investment Experts' Group (IEG) awaits possible Ministerial approval of APEC's Investment Facilitation Action Plan (IFAP), attention has been turned toward foreign investment. If approved, the IEG would be a key driver of the work programme to implement many of the actions and measures to be taken over the three-year implementation period of the IFAP.

While the plan is non-binding, implementation depends on endorsement by all APEC economies. In the meantime, the IEG has focussed immediate attention outward through a strong work program involving multi year, multi stage projects aimed at enhancing capacities especially in APEC's developing member economies. The IEG's work on improving investment climates is an important complement to other work on structural reform in the Economic Committee and the private sector development agenda in the Small Medium Enterprises Working Group.

In recent weeks, the group has collaborated with international organisations, including the United Nations Conference on Trade and Development (UNCTAD) and the Organisation for Economic Co-operation and Development (OECD) as well as the private sector, examining ways to make the region more attractive to investors:

Explains Group Chair and Senior Adviser to the Foreign Investment and Trade Policy Division of the Australian Government, Roy Nixon, "The appeal of investment depends largely on one's experience with governments and the ease with which procedural requirements are carried out." For example, investors may need to obtain a license, or acquire permission to buy land. "Investment rules and regulations should be transparent, consistent and open. These are the conditions necessary to operate a business and to make prudent long-term decisions."

Conversely, he adds, APEC should learn more about how to improve its use of foreign direct investment. To this end, the group is using a case study approach with examples from both developing and developed economies of best practices in areas such as infrastructure, electricity and small and medium enterprises.

"Particularly," says Nixon, "we are studying those policies through which economies have successfully connected large multi-national corporations to local suppliers.

The IFAP, which has undergone rigorous processes by APEC's Committee on Trade and Investment (CTI), could be endorsed by APEC Trade Ministers next month and would provide a comprehensive framework of investment facilitation principles to guide the collective actions of APEC member economies key areas affecting investment flows. The current draft reflects a balance of views with some flexibility and compromise where necessary.



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Plausibility assessments of a Free Trade Agreement for the Asia-Pacific indicate that such an arrangement may not be so far off.

"We have finished reviewing 14 of 30 FTAs within the APEC region, analysing divergences and convergences," confirmed Senior Officials' Meeting Chair, Gonzalo Gutierrez at the Senior Officials' Policy Dialogue today. "It is a long term process but this comparative analysis of already-existing agreements is a significant contribution to the possible establishment of a Free Trade Agreement for the Asia-Pacific. Now, we must decide how this tool will inform our strategy."

Plans to implement a regional trade agreement have been in development for several years and rigorous analysis has been applied to actual similarities and differences among existing agreements. While comparison has revealed a range of disparities among APEC member economies' FTAs, these are by no means preclusive to a region wide agreement.

For example, Kati Suominen of the Inter-American Development Bank observes several very distinct styles of approach to tariff liberalisation. Nonetheless, she explains, "Ten year trends indicate that these divergent approaches will achieve the same results. One economy may make changes in increments while the next implements change at once. Still, trends indicate that each approach will lead to the same outcome in the tenth year of an agreement. In real time, tariff liberalisation has already reached 80 percent today and will have reached 95 percent by 2017 for existing FTAs."

To Suominen, a region-wide agreement is less complex than a system of bilateral agreements and would lead to a greater wealth of opportunities. The main challenge in the near-term is to define an integration strategy that will leverage RTA reforms while also retaining APEC's important regional gains toward liberalisation.

Describing sentiments expressed among the APEC business community, Dr. Carl Voigt of the Marshall School of Business at the University of Southern California asserts, "They want plans for a free trade area to start now and to move quickly. Specifically, they want standard Rules of Origin and common language. And they want assistance for small to medium enterprises."

This comes as Peru - host to the Senior Officials' Meeting - prepares to sign Free Trade Agreements with both Canada and Singapore on Thursday. According to Chair Gutierrez, "These are two very important partners for Peru." Of Singapore, he explains, "In establishing a relationship with this Asian economy, Peru will be well positioned to export services and to forge additional trade agreements with other members."



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APEC Senior Officials have reached an agreement on an Investment Facilitation Action Plan (IFAP) 2008-2010, designed to reduce trade barriers to international investors and encourage investment in the Asia-Pacific. Specifically, the plan comprises a framework of investment facilitation principles to guide the collective actions of APEC member economies key areas affecting investment flows.

As a complement to the IFAP, a number of actions will be taken to improve the investment climate over the next three years. As an example, transaction costs are to be reduced by a further five percent and should ultimately lead to the effective abolishment of costs altogether.

While the adoption of the IFAP was relatively swift, other plans require greater preparatory inputs. This is true of the development of a free trade agreement for the Asia-Pacific region (FTAAP).

Plans for the FTAAP have reached a mid-term point, says Chair of the Senior Officials' Meeting, Gonzalo Gutierrez. "It is still on the table. There are still studies being done, consultations with experts. Imagine that it took about two years for Peru to negotiate a free trade agreement with the United States. And now we are trying to coordinate FTAs among 21 different economies."

Yet, he says, this point is pivotal in the process - the first step in a process that is expected to lead to a region-wide agreement and which would be the first such agreement to cover such an expansive area. "Now that we have determined the commonalities and disparities among existing free trade agreements, we can consider how best to overcome challenges and leverage on the opportunities within them."

The FTAAP will be affected by the outcomes of Doha Round negotiations of the World Trade Organization (WTO). These will be addressed by WTO Director-General, Pascal Lamy on Saturday at the meeting of APEC Ministers Responsible for Trade.



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Issued by the Ministers Responsible for Trade

APEC Ministers Determined to Bring a Conclusion to the Doha Development Agenda

Arequipa, Peru, 31 May 2008

Delegates at the APEC meeting of Ministers Responsible for Trade (MRT) expressed their collective will to bring the Doha Development Agenda (DDA) to a successful conclusion this year. "[We] reiterate our determination to bring the Doha Development Agenda to a successful conclusion this year," they said in a statement, issued today.

While negotiations have been in progress for seven years, World Trade Organization (WTO) Director-General, Pascal Lamy encouraged Ministers: "The time is ripe for this final push. We are now at the tipping point. The elements are essentially there, but they need further clarification, further refinement."

APEC has been a consistent supporter of a multilateral trading system as a vehicle through which to achieve its own agenda for free trade and investment liberalization.

In addition, Ministers are convinced that "a prompt, ambitious and balanced conclusion to the Round will be one of the important factors in overcoming the serious international situation caused by the recent food price escalation."

They are however emphatic that a genuinely successful conclusion should address all modality issues, such as real improvements in market access and economic development that leads to higher standards of living - particularly for those in developing economies.

Lamy describes APEC as "a window of opportunity" and a means to addressing these modalities by June. MRT Chair, Mercedes Araoz agrees, "The DDA moving forward will support the views of APEC economies."

Substantial progress on key issues can be observed since the last meeting of the APEC Economic Leaders' Meeting last year in Sydney. For example, the recent release of revised negotiation texts on agriculture and non-agricultural market access (NAMA) and Chairs' reports on services and rules are significant developments that have facilitated movement of the Round.

According to Lamy, it is the actual pace of work that is critical at this particular phase. "This needs to be seriously accelerated," he said and exhorted APEC Ministers, "... it is in your hands to send the signals needed for Doha to come to a closure now."

Ministers asserted in their official statement, "We will continue to engage actively and constructively in the negotiations in Geneva. We APEC Ministers are ready to engage to deliver expeditiously a modalities agreement. We urge other WTO Members to do the same."

The APEC MRT Statement on the DDA can be found at: http://www.apec.org/Meeting-Papers/Ministerial-Statements/Trade/2008_trade/dda_statement.aspx



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Determined to develop greater regional economic integration (REI), including the long-term prospect of a Free Trade Area of the Asia-Pacific (FTAAP), APEC Ministers have endorsed a list of specific deliverables.

After a two-day meeting of Ministers Responsible for Trade (MRT), endorsements include model measures for the chapters on Competition Policy, Environment and Temporary Entry for Business Persons. In addition, a study of bilateral investment agreements and core investment-related elements of existing free trade agreements in the region is being undertaken with a view to developing core principles for investment agreements.

The second Trade Facilitation Action Plan (TFAPP II), which asserts to reduce trade transaction costs by an additional 5 percent by 2010, will be accelerated by Key Performance Indicators (KPIs) and reporting methodologies developed to measure the progress of collective actions toward implementation

Responding to World Trade Organization (WTO) Director General, Mr. Pascal Lamy, who discussed the current situation of the Doha Development Agenda (DDA), Ministers stressed the crucial importance of the WTO rules-based multilateral trading system and agreed on the urgency of bringing the DDA negotiations to a prompt and successful conclusion this year.

The global crisis caused by the dramatic escalation in food prices has increased the urgency to achieve substantial improvements in market access and reductions in market-distorting measures in global agricultural trade; and a rapid completion of the WTO Doha Round, with an ambitious and balanced outcome, would also be an important factor in overcoming this serious international situation.

To read the entire ministers' Statement, in its entirety, go to: http://www.apec.org/Meeting-Papers/Ministerial-Statements/Trade/2008_trade.aspx



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Workers need "to go to higher levels" and to develop their propensity for "critical thinking, creativity, teamwork and self-learning", according to ministers throughout the Asia-Pacific. A Joint Statement issued by APEC Education Ministers anticipates rapid technological change and the need to transcend borders in accommodating them.

"It is not enough to be skilled in Mathematics or grammar," explains Peruvian Minister of Education and Chair of the Meeting, Jose Antonio Chang Escobedo. "Societies are becoming increasingly interdependent. In order to succeed in the future, students will need to be able to share their skills, to collaborate and to cooperate with others. They will need to adapt quickly to change and find solutions to problems that do not even yet exist."

Education is a substantive priority across APEC - not only as a social issue but as a fundament in defining economies and economic relations in the future. "Well educated citizens," says the Statement, "not only contribute to but also make for the social, economic, and sustainable development of our 21 Economies within just societies that value knowledge, promote a culture of peace, understanding and diversity."

Recognizing at once the diversity among cultures as well as a marked escalation in the number of trade agreements and level of regional cooperation, Ministers will concentrate efforts on developing among students the "competencies of the 21st Century...needed to succeed in all aspects of life, beyond the workforce, as an individual, a family member, community member and global citizen."

To this end, they say, curriculums should place critical emphasis on:

Mathematics and science as a way to navigate in a data-driven and technological world, regardless of occupation;

Career and technical education, preparing students to make multiple career transitions and to adapt to new technological innovations;

Learning each other's languages to communicate across cultures; and

Integrating information and communications technologies into classroom instruction.

While the actual roadmap may vary among economies, there is broad consensus as to desired outcomes and the statement includes a clause citing as imperative systematic educational reform.

The entire Joint Statement can be found at the APEC website: http://www.apec.org/Meeting-Papers/Ministerial-Statements/Education/2008_education.aspx



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Singapore has taken the lead in a pilot exercise, enlisting several APEC member economies to recreate a scenario in which trade supply chains have been disrupted.

The formal announcement came at the close of a two-day workshop (Workshop on APEC Trade Recovery Programme, 23 - 24 July 2008), bringing together industry experts and government officials from across the Asia-Pacific. "So far, trade recovery is something we have seen on paper. But we want to take it further," says BG (NS) Choi Shing Kwok, Permanent Secretary, Ministry of Transport.

In 2007, trade in goods accounted for 78 percent of all trade. Import and export activity are therefore fundamental to economic stability. However, systems are not impenetrable and the repercussions to a break in supply chains would be detrimental.

As an example, more than 90 percent of the world's cargo moves by sea containers. However, notes Dr. Sun Jia Kang, Managing Director at COSCO Container Lines, "Terrorists can use international shipping as a means to transport weapons and to conduct terrorist activities. They also make international shipping a target of attacks by hijacking ships, bombing ships, kidnapping or killing crew members. All these crimes can cause serious consequences to the security of the global supply chain. According to statistics, there were a total of 263 incidents of pirates attacking ships in 2007 - a 10% climb over that of 2006."

Responding to the call of APEC Leaders in Sydney last year, the Singapore-led exercise will explore and demonstrate how a formal Trade Recovery Plan really works.

Explains BG Choi, "The plan is for government agencies, the private sector, manufacturers, transporters, ports and carriers to provide inputs. Through the exercise, we will gain practical insight to the aftermath of a disruption. For example, this could include activities we might undertake, how they might be implemented and how we would exchange relevant information."

The exercise will be carried out in 2009 and will test simulated Mutual Recognition Agreements (MRAs), based on principles of trust, transparency and communication. Results will be reported to APEC Leaders'. The exercise will further develop the implementation of the APEC Trade Recovery Plan and the MRAs could be considered for permanent adoption.

Offers Michael Schmitz, Director of Compliance and Facilitation at the World Customs Organization: "[We have] been closely following the excellent work of APEC. We are particularly interested in APEC's Trade Recovery Program and we look forward to aligning our new SAFE Framework Standard on Trade Recovery with it."



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Issued by the 19th APEC Ministerial Meeting

A new APEC Code of Conduct for Business, to help combat corruption in the region, was announced by Attorney-General Philip Ruddock today.

The Code provides descriptions of various forms of bribery and clear guidance on how to identify corrupt practices. It describes practical steps businesses should take to counter corruption.

"Corruption in the APEC region and beyond has serious and widespread consequences - it limits economic development, it discourages investment and it keeps people living in poverty," Mr Ruddock said.

"Research by the World Bank Institute indicates that each year more than $1 trillion is paid in bribes worldwide. Businesses, particularly small businesses, need guidance when confronted with bribery."

Mr Ruddock said take up of the Code by businesses will mean greater prosperity and economic growth across the Asia-Pacific.

"The Code is one of the outcomes of collaboration between APEC Governments and APEC businesses in 2007," Mr Ruddock said. "By adopting the Code businesses have the power to have a real impact on efforts to eradicate corrupt practices, leading to stronger economies and further trade liberalisation."

The APEC Anti-Corruption and Transparency Experts Task Force plans to assist small and medium enterprises (SMEs) to adopt and implement the Code.

SMEs make up about 99 per cent of enterprises in the regional APEC economy, and their contribution is between 30 per cent and 60 per cent of an economy's gross domestic product. The SME sector is particularly vulnerable to corruption and is a major part of the APEC economy.

"It is important to codify an anti-corruption policy because enterprises are more likely to adopt a Code if presented with a ready-made example," Mr Ruddock said. "An APEC-endorsed code is important so that business is aware this is an APEC initiative and they have APEC support in opposing corruption."

"I am confident the Code will prove to be a valuable contribution to the fight against corruption, both in our region and ultimately in the global economy."

The Code is available for download.



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APEC Declaration on Climate Change Released

Sydney, Australia, 09 September 2007

Issued by the 15th APEC Economic Leaders' Meeting

The "Sydney APEC Leaders' Declaration on Climate Change, Energy Security and Clean Development" has been released and is available for download.

The declaration covers the following areas:

Future international action

Support for a post-2012 international climate change arrangement

APEC Action Agenda

Webcast of News Conference with AELM Chair, Australia's Prime Minister John Howard is available for download here:

 http://www.apec.org/Press/Videos/78f.aspx

 

The 15th APEC Leaders Meeting concludes today with the release of the Sydney Declaration.



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Issued by the 15th APEC Economic Leaders' Meeting

The 2007 APEC Economic Leaders' Meeting has concluded with the release of three statements that are now available online:

Joint Leaders' Statement

Sydney APEC Leaders' Declaration on Climate Change, Energy Security and Clean Development

Statement on the WTO Negotiations.

Webcasts

Webcast of the Leaders' Declaration by the AELM Chair, Australia's Prime Minister John Howard, is available for download here:

http://www.apec.org/Press/Videos/79f.aspx

 

Webcast of  the Leaders' Declaration on Climate Change by the AELM Chair, Australia's Prime Minister John Howard, is available for download here:

 

 

http://www.apec.org/Press/Videos/78f.aspx 
 



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Issued by the APEC Business Advisory Council

The sixth triennial edition of the APEC Investment Guidebook has been revised to help improve investment transparency in the APEC Region.

Developed by the APEC Investment Experts Group (IEG) in conjunction with the APEC Business Advisory Council (ABAC), the Guidebook is primarily designed to assist potential investors in the APEC region.

2007 ABAC Chair, Mr. Mark Johnson said "As business representatives of APEC we strongly endorse the objective of improving transparency of investment policies and regulations in the region. Investment growth is fundamental to strong economic growth, job creation and prosperity, so ABAC is particularly pleased to have been able to cooperate with the IEG in preparing this edition of the Guidebook.

"Globalization and the proliferation of bilateral trade and investment agreements have increased the importance of accessible, accurate information to business people. To this end the Guidebook now includes numerous weblinks and contact details to enable direct access to current information and to relevant decision-makers where feasible."

Mr. Johnson said "We expect that the APEC Investment Guidebook will deepen business understanding of individual investment climates by providing clear, concise and relevant information to potential and existing investors.

"The Guidebook is also designed to address the policy makers who have the task of developing an attractive environment for foreign and domestic private sector investors. It will help APEC Member Economies to develop comparative frameworks for evaluating the quality of policies that can enhance investment opportunities."

Mr. Johnson also noted that "The Guidebook will enhance APEC Member Economies' efforts in identifying where improvements are required to attract broader and deeper capital flows."

"Investors and policy makers continue to see further benefits and challenges as bilateral trade and investment agreements increase across the region. The Guidebook provides useful analysis of these growing issues and on investment trends in the region."

ABAC plays an important role in APEC's operations and has made a very positive contribution to the region's investment environment by developing several check-lists for the public and private sectors. As examples, one of these checklists deals with goals and best practices for economies to use in assessing the quality of financial and other service offerings in the WTO Doha negotiations, while another proposes policies to remove barriers and impediments to FDI in APEC economies.

The report is available here.



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The importance of identifying existing skills potential in local communities, making use of new technologies and creating business partnerships to help increase employment opportunities were key topics for discussion at a recent APEC conference in the Philippines.

Held in Manila on September 17-19, the "Innovations in Human Resource and Economic Development: Ensuring Sustainable Growth in the 21st Century" conference brought together 135 human resource and economic development experts with leaders from government, business, education, and civil society.

Conference attendees discussed ways to increase the capacity of workers in developing areas to improve their access to employment and improve their skill levels.

The APEC Labor and Social Protection Network Coordinator, Mr. Chris Watson, said participants would have taken away a number of important tools and strategies for implementation in their areas such as procedures for the resource mapping of local skills.

"An essential part of creating employment opportunities is to make a concerted effort to document the range of existing skills held by people in local communities," Mr. Watson said.

"This workforce analysis makes it easier for local authorities to match skills with employment opportunities while identifying where additional training might be required."

Mr. Watson said the workshop also provided resources to assist local authorities to take advantage of new technologies and build partnerships with business.

"Technological advances have made it easier to deliver education and training to people in local communities regardless of where they are located around the globe.

"Participants at the conference were provided with resources for developing innovative strategies for using technology to access education and training programs for their people.

"The conference also identified opportunities for building collaborative partnerships between businesses and local communities to train workers and foster local entrepreneurship.

"Partnerships with business can be customized to serve the particular economic challenges and opportunities that exist in each region.

These challenges might include the development of skills to supply new industries and training workers for jobs that are in-demand from existing business activities. Often there is a need for the development of local small businesses to supply goods and services to larger industry, but these local start-ups might need entrepreneurial guidance and support."

In all of the areas covered at the conference, participants were able to take the opportunity to learn from strategies that have worked in other economies and to exchange ideas that will help to refine and enhance workforce development programs. For more information on the conference sessions and presentations, go to www.dtiassociates.com/apec

The conference was hosted by the United States Department of Labor in cooperation with the Philippine Department of Labor and Employment.



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Issued by the APEC High Level Policy Dialogue on Agricultural Biotechnology

Building public awareness of advances in agricultural biotechnology is the goal of an APEC High Level Policy Dialogue workshop that begins in Peru today.

The two-day "Public Perception of Agricultural Biotechnology Workshop" has a hands-on program that will assist government and industry representatives to develop methodologies for effectively measuring public perception of agricultural biotechnology and to increase public knowledge of benefits this technology provides.

Organized by the APEC High Level Policy Dialogue on Agricultural Biotechnology (HLPDAB), the workshop is taking place in Lima on October 4-5.

HLPDAB Coordinator, Ms. Priscilla Joseph, said she hoped that delegates will gain a better understanding of how to share information on increasing public awareness of agricultural advances.

"There have been significant advances in agricultural biotechnology that will ultimately deliver great benefits to the people of the world in terms of increased agricultural production, environmental protection and food security," Ms. Joseph said.

"This workshop will help identify effective tools and techniques to promote public awareness and understanding of issues associated with biotechnology in agriculture."

Ms. Joseph said public attitudes are changing with new applications of agricultural biotechnology, particularly as related global issues become more apparent.

"The impact of emerging global issues such as climate change and altering weather patterns are particularly relevant to advances in agricultural biotechnology so will be discussed at the workshop," Ms. Joseph said.

"As the climate changes, the attributes and varieties of crops that the region grows will need to adapt, so this workshop will consider these emerging applications of agricultural biotechnology."

Speakers at the workshop include agricultural scientists, policy makers from agricultural departments and food safety regulators.

The HLPDAB was established in 2001 for policy makers in APEC's 21 member economies to exchange information and promote public policy development to support the responsible use and informed adoption of agricultural biotechnology.



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Officials from APEC Member Economies are meeting in Lima this week to enhance opportunities to stamp out corruption, deny safe haven to corrupt individuals and recover stolen assets.

The workshop titled "The Fight against High-Level Corruption is a Common International Responsibility" is being held in Lima on 29-31 October.

Peru's Minister of Justice, María A. Zavala Valladares, opened the workshop by highlighting that the division of the state branch, the checks and balances, an independent judiciary, access to information as well as transparency in the public institutions are essential elements of the rule of the law in democratic societies.

The Deputy Executive Director of the APEC Secretariat, Ambassador Juan Carlos Capuñay, said APEC views corruption as a major obstacle to economic development and is investing time and resources into undermining corrupt practices in the region.

"Corruption, in all its forms, is disruptive and harmful to the sustainability of democratic institutions in our region," Ambassador Capuñay said at the workshop.

"APEC believes that one of the important ways to fight against corruption is to ensure special attention is paid to the modernization of government infrastructure, access to technology and increased support to education.

"APEC is developing measures that will help governments to deny safe haven to corrupt officials and to ensure the recovery of assets acquired through corruption, as well as increase international cooperation to the processing of extradition requests.

Speaking to delegates, Ambassador Capuñay said the involvement of the private sector and civil society is enriching APEC's anti-corruption agenda.

"APEC's Code of Conduct for Business was agreed this year. It provides practical guidance for private sector bodies to combat corruption and is focused on the prohibition of bribery.

"Ultimately though APEC is seeking the prompt ratification, by the entire international community, of the United Nations Convention against Corruption."

Ambassador Capuñay said that during APEC 2008 hosted by Peru, the fight against corruption will continue as an APEC priority.

Peru will host APEC in 2008 that will include a range of meetings of APEC Ministers and officials before the APEC Leaders' Meeting in Lima in November.



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Issued by the 2007 Symposium of the APEC Network on Pharmaceutical Regulatory Science

The creation of an Asia-Pacific pharmaceuticals market moved a step closer to becoming reality with the "2007 Symposium of the APEC Network on Pharmaceutical Regulatory Science" that concludes today in Taipei.

Delegates anticipate that increased levels of cooperation and the removal of market impediments will make pharmaceutical drugs and medicines more accessible to a greater number of people in the region.

The objective of the meeting is to establish an APEC network of pharmaceutical professionals and policy makers to work on harmonizing regulations among economies and ultimately develop a single market.

The Director General of the Bureau of Pharmaceutical Affairs, Department of Health in Chinese Taipei and Chair of the Symposium, Dr. Chi-Cho Liao, made the point that the harmonization of regulations would deliver important health benefits for people in the region so progress was essential.

"For many people access to pharmaceuticals is problematic; by removing bureaucratic impediments and outdated red tape more people will be able to access a greater range of drugs and medicines," Dr. Liao said.

"This Symposium is providing an international platform for experts from health authorities, academia and industry to share opinions and exchange information from their perspectives.

"From this process the network of contacts from APEC Member Economies can seek to drive reform and overcome inefficiencies in their own regulatory systems. Mutual understanding between governments on drug regulatory issues is particularly important for increasing cooperation and concerted policy development."

Minister of the Department of Health from Chinese Taipei, Dr. Sheng-Mou Hou said selecting Taipei to host the symposium was particularly valuable considering recent scientific advances that have been achieved by local scientists in recent years.

"Taipei is one of the most advanced and competitive cities in Asia and has invested great intellectual capital into pharmaceutical and medicine research. We are confident that this exchange of ideas as well as interaction with resident researchers is of great benefit."

Over the two days of the symposium, delegates are considering new trends in pharmaceutical regulatory systems and the ability of governments to respond to the rapidly evolving pharmaceutical field. World experts also have the opportunity to share their vision and experience in developing critical path initiatives for the future growth of the pharmaceutical sector. Developments in the areas of the pharmacogenomics branch of pharmacology, working in alliance with advances in new drug and medical devices were also discussed in interactive sessions.

The outcomes of the symposium will be uploaded to the following website: www.apec2007.net.tw



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Senior Officials from APEC's member economies have met to discuss key aspects of the 2008 APEC agenda with Peru presenting a theme for the year that highlights the social dimension of free trade and investment.

Taking place in Lima on November 27-29, the Informal Senior Officials' Meeting (ISOM) discussed APEC's work program over the coming year including action to conclude current WTO negotiations, facilitate structural reform and strengthen human security.

Chair of the 2008 APEC Senior Officials Meetings, Ambassador Gonzalo Gutierrez, said Leaders issued clear directions when they met in Sydney that will serve as the basis of the APEC Peru work agenda.

"Support for the multilateral trading system and the conclusion of WTO negotiations, examining options for a Free Trade Area of the Asia-Pacific, advancing structural reform and strengthening human security remain among our highest priorities," Ambassador Gutierrez said.

"The interlinked challenges posed in dealing with climate change, energy security and clean development are also important issues for the year ahead."

Ambassador Gutierrez said the theme for APEC Peru 2008, "A new commitment to the development of the Asia-Pacific," is intended to elevate attention to the social dimension of free trade and economic growth.

"APEC is in a position to not only strengthen trade and investment in the region, but to ensure the benefits are shared between all of our people," Ambassador Gutierrez said.

"Our region is home to several of the most powerful economies in the world and is also home to developing and emerging societies. We hope to facilitate broader access to the wealth that is being generated in our region.

"APEC Peru 2008 will seek to develop opportunities to help people who have the potential but not the means to access formal education. We will continue working closely with small and medium enterprises to access new technologies and continue supporting technical cooperation programs to help bridge the digital divide."

Ambassador Gutierrez said that APEC Peru 2008 will also continue to work on eradicating corruption in the region as part of this development agenda.

"Corruption is a significant behind-the-border impediment to trade that undermines job growth and prevents people from realizing business opportunities," Ambassador Gutierrez said.

"Regardless of whether it is in public administration or the private sector, corruption cannot be tolerated and our member economies are united in our plans to deal with people involved in these illegal activities."

APEC Peru 2008 formally begins with a Senior Officials meeting in Lima on February 20, followed by a range of ministerial meetings, workshops, symposiums and other events that will culminate with the APEC Leaders' Meeting in Lima on November 22.

The full APEC Peru 2008 calendar is now available.



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The capacity of APEC economies to promote awareness and the appreciation of intellectual property rights (IPR) will be given a boost through a workshop in Singapore this week.

Drawing together intellectual property agency officials from around the Pacific, the workshop on "Using Market Research to Develop Effective IPR Campaigns" will help APEC economies to improve research on public awareness and attitudes to IPR issues. Ultimately this will serve to ensure innovation is protected through the development of enhanced local awareness strategies.

A new best practice manual on IPR Market Research has been developed as part of the project and will be released at the workshop. The manual provides practical guidance to equip APEC member economies with the skills and relevant tools to implement effective IPR public education and awareness campaigns.

Speaking at the opening of the workshop today, the Permanent Secretary of Singapore's Law Ministry, Ms Chan Lai Fung, highlighted the importance of market knowledge to awareness campaigns. Ms Chan said "the use of reference tools, such as IPR surveys, and the research tool kits developed under the project will greatly assist member economies in planning successful awareness campaigns."

The Chair of the APEC Intellectual Property Experts' Group, Mr. Sivakant Tiwari, Principal Senior State Counsel, Attorney-General's Chambers, Singapore, said the workshop will provide an opportunity to gain from knowledge of past strategies that have been effective and pick up lessons from the less successful ones around the region.

"It is hoped that the tools will become an indispensable feature in every economy's education efforts and going forward will generate greater results for future IP Rights education campaigns," Mr. Tiwari told the meeting.

The workshop includes input from the World Intellectual Property Organization (WIPO) particularly in relation to dealing with emerging piracy activities. Speakers will also share their perspectives of the new challenges presented by the online IPR violations and explore new strategies and policies to keep pace with technological advances.

The workshop has been developed in partnership between Australia, Hong Kong, China and Singapore and will produce deliverables that include a research tool kit for both developing and developed economies.

This workshop is one of three that are taking place to promote the development of IPR awareness strategies following an earlier workshop in Hong Kong and another that will take place in Australia in 2008. The workshop will conclude on December 14.



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Preparations for the 2008 APEC Finance Ministers Meeting are underway with Senior Finance Officials finalizing details of the key policy themes to be discussed by ministers when they meet in Trujillo, Peru, next October.

The two policy discussion themes of "Result Based Budgeting" and "Capital Market Reforms" were agreed by Senior Finance Officials from APEC's Member Economies meeting today and yesterday in Lima.

The Chair of the Senior Finance Officials Meeting, Mr Javier Kapsoli said the policy discussion themes would make a significant contribution to the overall APEC Peru 2008 objectives of enhancing the social dimension of free trade and economic growth.

"Finance ministers will seek to develop new measures to bring about improvements in the management of public funds through more responsible budgeting," Mr Kapsoli said.

"By reducing wastage and increasing efficiencies in governmental budgeting, Finance Ministers hope to see greater social benefit for limited government resources."

Mr Kapsoli said the policy discussion theme of capital market reforms was also important for ensuring social development in a time of increasing international trade.

"Volatility in regional capital markets has the potential to impair trade, reduce employment and undermine prosperity in the region," Mr Kapsoli said.

"The task before APEC Finance Ministers is to build on efforts of previous years to increase transparency and ensure well-functioning regional and domestic capital markets so that business can invest and create jobs."

Mr Kapsoli said an important part of the APEC Finance Ministers' Process is the consideration of global and regional macroeconomic and financial developments as they develop through the year.

"As the year progresses there will undoubtedly be a number of important global finance issues that will appear on the radar and these are likely to be discussed by Finance Ministers.

"This annual meeting brings together the Finance Ministers of several of the world's leading economies, and it is through this forum that major financial issues that are important for the economic and social development of the global economy can be addressed.

"The Finance Ministers Meeting also provides an opportunity for Ministers to meet in a one-on-one basis with their counterparts from each of the other member economies to strengthen bilateral relationships between economies."

The 15th APEC Finance Ministers' Meeting will be one of the most important meetings of APEC 2008 Peru and will provide important input to the Leaders' Meeting that will take place in Lima on November 22-23.



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Ambassador Juan Carlos Capuñay will become the 16th Executive Director of the APEC Secretariat on January 1.

A diplomat in the Peruvian Foreign Service since 1972, Ambassador Capuñay has extensive APEC experience having served as Peru's Senior Official to APEC for four years. Ambassador Capuñay is also the former Chair of the APEC SOM Steering Committee on Economic and Technical Cooperation that coordinates and manages APEC's economic and technical cooperation agenda.

Ambassador Capuñay has also been posted to Peruvian Diplomatic missions in China, Singapore, Japan, the Organization of American States and the United Nations.

As the start of APEC Peru 2008 nears, Ambassador Capuñay said he anticipates 2008 will be an important year for APEC as the organization seeks to advance its work program in the face of regional economic challenges.

"Building on the commitments made by APEC Leaders in November this year, APEC will contribute to what we hope will be a successful conclusion to the WTO's Doha Development Agenda negotiations, strengthen the security of people and trade and enhance prosperity in the region," Ambassador Capuñay said.

"The Asia-Pacific has experienced very positive growth over recent years, and by working together we will ensure continued growth and will overcome any challenges that could lay ahead.

"During APEC Peru 2008 the host economy is committed to enhance regional growth through increased attention to the social issues relating to the APEC agenda.

"I anticipate this will include increased attention to issues such as expanding access to information technologies and education, the development of greater public-private partnerships including corporate social responsibility, as well as strengthening efforts to deal with corruption."

The APEC Peru 2008 Year will incorporate a range of meetings at official and political levels. This includes ministerial meetings for issues such as small and medium enterprises, tourism, finance, education and trade, structural reform as well as four Senior Officials' Meetings, working group events and finally the APEC Leaders Meeting in November.

In preparation for Singapore's hosting of APEC in 2009 the 2008 Deputy Executive Director will be Mr. Michael Tay of Singapore .

Additional information about Ambassador Capuñay is available.



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Peruvian President, Alan Garcia officially launched the year-long chairmanship of the 2008 Asia-Pacific Economic Cooperation (APEC) forum on Thursday. In attendance were the President of the Extraordinary High Level Commission APEC 2008 (CEAN), Vice-Admiral (r) Luis Giampietri Rojas and the Ministers of Foreign Affairs; Economy and Finance; and International Trade and Tourism.

The President's announcement, which took place in a ceremony at the Government Palace, marks 10 years of membership in APEC. Said President Garcia, "Hosting the Asia Pacific Economic Cooperation forum will help Peru to deepen its economic growth, trade and investment." He emphasized that the APEC forum will allow Peru to become the centre of the international community and help to insert itself in international trade.

From Singapore, Ambassador Juan Carlos Capuñay, Executive Director of the APEC Secretariat explains that, "The APEC Economies represent over 55 percent of world trade and 2.7 billion people. This year's theme underlines the fact that genuine, sustainable development must benefit people at all levels."

Embracing the theme, "A New Commitment to Asia-Pacific Development," APEC Peru 2008 will consider the social dimension of free trade and investment.

Says Ambassador Capuñay, "The objective of the forum is to encourage free trade and increase investment in Asia-Pacific. But the reason we consider these to be valuable pursuits is because they actually improve the lives of people in the region."

Particular emphasis will be placed on strengthening the association between the private and public sectors, and the ample participation of international financial organizations. Ministerial meetings will address subjects of commerce, tourism and finance. In other workshops, senior officials will discuss issues such as education, rules for transparency, and small and medium enterprises (SMEs).

"SMEs employ a significant amount of the Asia-Pacific population but represent only a minimal percentage of exports," Ambassador Capuñay offers as example. "This equation has to be changed."

One of the most important issues addressed will be partnerships between public and private sectors. To this end, the APEC CEO Summit 2008 will be held concurrently with the Leaders' Meeting in November. As an opportunity for CEOs to engage in discussions with APEC Economic Leaders, policymakers, academia and other businesspeople on the most critical economic and business issues facing the region, it has become a symbol of such cooperation.

Meetings will span across 10 Peruvian cities throughout the course of the year in what Ambassador Capuñay considers "an opportunity for Peru to demonstrate its potential and to access the Asia-Pacific market - the opening of a new chapter in a long-term relationship."

Official events are to commence in Lima between February 19 and March 3 and will include working-level meetings as well as the first Meeting of Senior Officials for the year.



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Globalization should lead to sustainable development for all and this is focal to the APEC Business Advisory Council (ABAC) in 2008. In its first meeting of the year (20 - 23 January, Jakarta, Indonesia) the council, which is made up of senior business leaders, met with APEC Senior Officials to make recommendations on intergovernmental processes.

Explains ABAC Chair Juan F. Raffo, concrete measures should be taken to "spread the benefits of globalization more widely between and within APEC economies. Our major priorities will include further exploring the concept of a Free Trade Area of the Asia-Pacific (FTAAP), the WTO Doha Development Round, Energy Security and Climate Change, Business Facilitation and SME Development."

<:orma>Achieving trade and investment liberalization and facilitation is the main objective of APEC but, says Raffo, "its agenda has deepened and broadened. A key priority in ABAC is how to move the Doha Round forward while at the same time examining other options for keeping the momentum of liberalization in the region."

Specifically, ABAC will contribute to the development of APEC's Second Trade Facilitation Action Plan to achieve a 5% reduction in transaction costs; address behind-the-border issues for greater ease in conducting business; and consider the implications of demographic shifts on business.

Energy Security and Climate Change is a major priority and will propose ways to achieve the APEC regional goal to reduce energy intensity by 25% by 2030.

Amid recent turmoil in global capital markets, ABAC discussed the situation in reference to the credit environment as well as the implications for regional capital markets. A multi-year roadmap is to be developed to address wealth creation, poverty reduction and stability in the APEC region capital markets. In addition, the 2008 agenda will address social security and safety net issues, deepening and strengthening capital markets and improving infrastructure and regulation.



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Despite its illegality, the counterfeiting of medicines is a booming industry in the Asian-Pacific region and around the world. Last week, experts from 17 APEC economies, including 11 developing economies, met in Singapore at the first of two APEC Life Sciences Innovation Forum (LSIF) Anti-Counterfeiting Health Products Seminar to establish systems to counter the spread of the illegal practice.

Apart from the threat to the health and safety of patients, Dr. John Lim, CEO of the Singapore Health Sciences Authority explains that, "The presence of counterfeit health products jeopardizes the credibility of the healthcare system, the pharmaceutical supply chain as well as the government institutions."

The growing sophistication of medical product counterfeiters and the expanding network of operations across Asian-Pacific economies has escalated the issue to what Tom Kubric, President of the Pharmaceutical Security Institute (PSI), considers as an international cooperation. This is reflected in the rapid increase in internet sales of pseudo-medical products. Consumers fall victim to the appeal of an apparent bargain but unwittingly purchase products with no medical value.

The two day seminar (January 13-15) resulted in a draft action plan for combating counterfeit medical products. This plan addresses all major points of the counterfeit trade and incorporates input from regulatory, law enforcement, and customs officials.

APEC member economies have also been encouraged to adopt the WHO IMPACT Single Point of Contact (SPOC) model. The model is based on the premise that by assigning a single point of contact, economies can take a tangible step to combat this grave threat.

The plan will be further refined in concluding meetings in Singapore from March 30-April 1. A similar two-part seminar series is planned for the Latin America region, the first of which will occur in Mexico in 2008.



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Issued by The High Level Policy Dialogue on Agricultural Biotechnology (HLPDAB)

As agricultural biotechnology gains popularity, the High Level Policy Dialogue on Agricultural Biotechnology (HLPDAB) gathered government officials from APEC Economies to discuss regulatory systems and policies related to transgenic crop products.

Transgenic crops are helping to revolutionize farming, decreasing the need for pesticides and herbicides and allowing for more environmentally friendly no-till agricultural methods. In 2007, farmers worldwide planted over 114 million hectares of transgenic crops, a 12% increase over 2006 levels and 22% above 2005. In fact, more transgenic crops have been planted every year since 1996.

Asserts United States Department of Agriculture Deputy Under Secretary, Ellen Terpstra,
"APEC economies must work together so that both farmers and consumers can realize the benefits of agricultural biotechnology."

In the second decade of large-scale commercialization and consumption of transgenic crops, the APEC Policy Dialogue addressed issues such as food safety, guidelines for science-based risk assessment; and the synchronization of approval systems of transgenic crops among trading partners.

"It is our responsibility as policy makers to ensure our farmers have access to all the tools that enable them to provide us with safe, wholesome and nutritious food. Agricultural biotechnology is one of those tools," says Terpstra.

The resistance of transgenic crops to pesticides and herbicides results in higher net yields for farmers; and new transgenic crops with traits to address the effects of heat and drought are currently underway. Ways to increase the nutritional value of foods are also being examined.

Recognizing the benefits of such developments to economies and to the region as a whole, the responsible use of biotechnology is a priority of the HLPDAB.



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E-governance is critical to the ability of an economy to improve government efficiency and transparency, say officials at an APEC Economic Committee (EC) workshop. Developed by Chinese Taipei, the workshop, which contributes to the EC's program for structural reform, drew a close parallel between e-governance and good governance.

Explained Professor Bob Buckle, Economic Committee Chair, "Several economies have attempted to revitalize their public administration and make it more proactive, efficient, transparent and especially more service orientated. One of the most commonly employed tools used to accomplish this transformation is introducing innovations in the way governments mobilize, deploy and utilize Information Communication Technologies."

Yet, while studies indicate that governments are moving forward in e-government development around the world, progress is slow and often disparate. "Within the APEC region, the differences between member economies in terms of e-Government readiness varies," says Buckle. "Many APEC economies rank among the top 35 of the world while others require further work to improve their readiness."

Responding to this fact, the workshop considered the experiences of several economies, including Chinese Taipei whose economy ranked first in e-governance in 2002, 2004 and 2005.

Citizens of Chinese Taipei benefit from on-line serves from payment of tax and tuition to marriage registration. Business opportunities have been extended through the internet and government offices are virtually paperless. Says Dr. Jay N. Shih, the economy's Minister of the Research, Development and Evaluation Commission, "In the future, citizens will even be able to receive notices of outstanding fees - just like having a personal secretary."

Apart from efficiency and timeliness, Shih emphasizes that e-governance goes further and actually enables good governance. "It engages the public and actually allows government to interact with citizens."

The e-Governance workshop discussed e-Administration for Better Accountability, e-Services for Better Efficiency and Transparency and e-Participation for Better Policy Making.



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Addressing costs and red tape and encouraging business across the region is key to economic growth said presenters to the APEC Senior Officials Policy Dialogue on Structural Reform.

According to the World Bank, 10 APEC economies are among the top 30 countries in which doing business is considered "easy." At the same time, behind-the-border issues such as high transaction costs and non-conducive policies, remain a challenge to regional economic growth.

Jane Drake-Brockman, a business-woman and Chair of Australia's Service Industry body, told the meeting that "Business often feels confronted by 'a regulatory fog' swirling over the whole Asia-Pacific region. With opaque rules and red tape, entrepreneurs often cannot see a clear pathway to setting up a new business, getting a license, innovating or partnering with another regional firm."

Similarly, ABAC Peru Representative Enrique Gubbins described government micro-management and over-regulation of business as being "presumed guilty until proven innocent." A system of overly interventionist checks, rules and licenses effectively paralyses potential entrepreneurs & innovators.

Consensus among Senior Officials was that governments should continually examine both existing and new regulations to ensure a balance is struck between legitimate regulation and the costs imposed by unnecessary regulation, in the form of additional compliance costs on business or anti-competitive effects of regulation.

Drawing from his own experience in the New Zealand structural reform process, former Minister for Finance, the Hon. David Caygill described the inevitability of vested interests, resistance to change, and opposition to regulatory reform. In the immediate term, he said, "Everyone made sacrifices. But it was necessary, in order to raise the standard of living in New Zealand, which had been slipping since the 1950s."

Policy packages were in some cases borne of necessity, he said. "Sometimes the economy being in a crisis (or at least a mess, as NZ was after the oil shocks and fiscal crises in the mid-1980s) can be the best impetus for wholesale regulatory reform."

But a lesson from the Dialogue for Senior Officials has been that governments should not have to wait for a crisis to address reforms which will benefit domestic, regional and global markets.

Economies that pursue structural reform to address domestic or behind the border impediments to growth will be more resilient to economic shocks, achieve greater macroeconomic stability, and experience increased productivity and higher living standards.



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Tariff reductions, transparency and non-discriminatory competition policy make Canada an ideal trade partner, reveals a recent study.

In the "Inpidual Action Plan (IAP) Study Report, Canada 2007", independent analysts assess Canadian progress toward APEC goals. The report considers a range of areas comprising Canadian efforts to reach the APEC Bogor Goals, which have as targets free and open trade by 2010 for industrialized economies and 2020 for developing economies.

The report identifies Canada as "one of the most open and liberal economies among the APEC and WTO members."

Canada has accorded high priority to transparency and information technology, competition laws are non-discriminatory and incrementally-applied statutory amendments are expected to decrease government restrictions on competition.

"Application of APEC's competition and regulatory reform principles is widespread... and there has been progress at both federal and provincial levels in reducing market entry barriers to trade and the professions."

While restrictions on foreign ownership of acquisitions do exist, over 50% of the Canada's manufacturing industry and over 80% of its oil and gas industry are foreign owned, which demonstrates Canada's openness to foreign investment.

While tradition suggests that the US is a primary trading partner, analysts point out that, "unilateral and reciprocal concessions have also been extended to non-US economies" and that "there exist multilateral potential trade gains for Canada if trade increases with the rest of the world in a significant way."

The full report will be available after the Senior Officials' Meeting on March 3.

All APEC Member Economies implement an IAP to direct their efforts to achieve APEC's Bogor Goals. The IAP review process provides each Member Economy with the opportunity to have their progress towards APEC goals assessed by Independent Experts.

Three APEC Member Economies are having their IAPs reviewed current APEC meetings in Lima, Peru. This process involves a presentation by the Independent Experts to a meeting of Member Economies, followed by an opportunity for these economies to query the economy under review as to details of their IAP.



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Peru reveals intention to position itself as the South American hub in the Eastern Pacific in a study presented today.

The "IAP Study Report 2007", which considers Peru's Individual Action Plan (IAP) to achieve APEC goals, was conducted by independent analysts and assesses a range of areas comprising efforts by Peru to reach goals set out in Bogor. The APEC Bogor Goals have as a target free and open trade by 2010 for industrialized economies and 2020 for developing economies.

Peru's ambition to distinguish itself as a hub is part of an ambitious plan to establish formal trade agreements throughout the region. In its IAP, the member economy noted its "long-term objective of negotiating agreements with all APEC Members and that its willingness to enter into negotiations is only limited by its human and financial resources and the time constraints placed on its negotiators."

Peru was a member of the GATT, was an original Member of the WTO and is an active participant in the WTO. Four bilateral trade agreements were concluded between 2006 and 2007 and Peru is currently negotiating Free Trade Agreements with Canada, Mexico and China.

Explain Peruvian officials, the idea is "to achieve greater market access and trade liberalization through the development of a number of interlocking free trade agreements." Ultimately, they say, free trade agreements "foster the role of foreign trade as an engine of economic growth."

While analysts express uncertainty as to whether this approach will improve market access and trade liberalization among APEC Member Economies, they do concede that the approach is likely to "increase trade flows in and through Peru by making it a hub at the centre of interlocking agreements."

The full report will be available online after the Senior Officials' Meeting on March 3.

All APEC Member Economies implement IAPs to direct their efforts in achieving APEC Bogor Goals. The review process provides each Member Economy with the opportunity to have their progress toward APEC goals assessed by Independent Experts. Three Member Economies are having their IAPs reviewed at meetings currently being held in Lima. This process involves a presentation by the Independent Experts to a meeting of Member Economies, followed by the opportunity for these economies to question the economy under review with regard to their plan.



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At the APEC Economic Committee's seminar on structural reform today, APEC members acknowledged the importance of competition in enhancing productivity and investment levels around the region. High on policy agendas around the world, competition policy is an important element for economic growth and promotes competitive prices, better quality and greater choice.

A webcast of APEC Economic Committee Chair Bob Buckle's opening remarks to participants at the Seminar on Role of Competition Policy in Structural Reform is available for download.

Mr. Buckle said that competition provides a stimulus for businesses to improve their performance and to reduce their prices, thus encouraging the development of new or improved products, processes and services in markets.

"There is a growing awareness that good structural policies - including good competition policies - are important for furthering regional economic integration and promoting sustained economic growth in the APEC region," Mr. Buckle said.

"Competition policy is concerned with all facets of government policy which influences the competitive behavior and competitive environment of firms, individuals and government agencies engaged in the supply of traded goods and services in the economy.

"Effective competition is important because it promotes dynamic and responsive markets so that economies benefit from competitive prices, better quality and greater choice. We'll be able to see a larger number of improved products, processes and services," explained Mr. Buckle.

"In recent years, some economies have been growing significantly better with faster growth and lower unemployment which have been influenced by increased competition in labor, product and financial markets," said Mr. Bernard Phillips, Head of the OECD Competition Committee.

APEC member economies shared insights at the seminar today on the important elements for an effective competition regime, which are the independence, transparency and accountability of competition authorities.

"The Australian Competition and Consumer Commission (ACCC) is subject to external scrutiny by the courts, and tribunals. This plays an important role in monitoring the ACCC's conduct and accountability," said Mr. Brian Cassidy, the Commission's CEO, when he provided an example during his presentation.

In addition, developing APEC economies spoke about how they overcame the challenges they faced when setting out to establish domestic competition policy.

"We had a lack of expertise in competition issues and limited resources. International assistance from APEC economies and a focus on capacity-building greatly assisted in our efforts to meet these challenges," shared Mr. Tran Anh Son, the Deputy General Director of the Competition Administration Department for the Ministry of Trade in Viet Nam.



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Australia's Attorney-General, Philip Ruddock, welcomed government officials, business and nonprofit leaders to the second APEC Data Privacy Seminar that is looking at how APEC members will cooperate to build confidence in an accountable system for personal information moving across the Asia-Pacific region.

Delegates paid particular attention to pilot projects that test how to best protect the transfer of personal information within the Asia-Pacific region while minimising further regulatory burdens on business.

A webcast of Mr. Ruddock's comments to the symposium is available for download. 

Mr. Ruddock said consumers and businesses in the region will benefit from pilot initiatives that strengthen privacy at a very personal level.

"Protecting personal information is a key to maintaining consumer confidence, consumer trust and ultimately the business bottom-line," Mr. Ruddock said.

"A system that effectively protects personal information during global data transfers will encourage the growth of e-commerce. That growth facilitates trade; particularly online trade in goods and services."

Mr. Ruddock was speaking to APEC delegates at the opening of the seminar, which follows the first APEC Data Privacy Seminar held in Canberra in January.

"The future prosperity of the Asia-Pacific region relies on having an accountable system that ensures privacy protections for personal information, regardless of where in the region that personal information is located," Mr. Ruddock said.

Privacy Commissioners from some APEC member economies also discussed how regulators can work together, given the limitations on their capacity to cooperate across borders, and what changes might be required to facilitate cross-border cooperative arrangements.

Australia's Privacy Commissioner, Karen Curtis, said, "Cross-border cooperative arrangements will be the cornerstone for this success.

"Now, we are at a stage to consider how these cooperative arrangements should be put in place and how compliance with cross-border privacy rules is going to be assessed and enforced.

"Underpinning this success is the ability of regulators to share best practices and resources to cooperate and coordinate with investigations and enforcement. This will build trust for consumers and help business," said Ms. Curtis.

Also speaking at the seminar, Hong Kong, China's Privacy Commissioner for Personal Data, Roderick Woo, said he could see the value of the seminar for the broader APEC region.

"Hong Kong endorses, not only the letter, but also the spirit of the APEC Privacy Framework and I hope that changes in the law will create more sharing opportunities for data privacy regulators across the APEC region," Mr. Woo said at the seminar.

The Data Privacy Seminar was hosted by the APEC Electronic Commerce Steering Group (ECSG) and held in association with the Senior Officials and related meetings that are taking place in Cairns on June 22-July 3.

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An independent report has found that Korea has made continuous and impressive progress towards achieving its APEC free trade and investment goals.

The Study Report on Korea's Individual Action Plan was reviewed by representatives of APEC Member Economies in Cairns this week.

IAPs are developed by each APEC Member Economy to guide them in their efforts to achieve APEC's Bogor Goals of free trade and investment in the Asia-Pacific region by 2010 for industrialized economies and 2020 for developing economies.

The IAP review program provides each APEC Member with the opportunity to have their progress towards APEC's goals assessed by Independent Experts. A peer review session is then conducted in which officials from other economies pose questions to the economy under review to better understand where progress is being made and where additional efforts may be required.

With Korea's real GDP growing by an average by 4.76% over the 2002-2006 period since its last IAP, the report highlighted reform efforts that have been initiated. "The government is continuing to pursue microeconomic reform, to restructure each economic sector and to continue to upgrade the economic system," the report stated.

"Financial restructuring has been the single most important focus, with ongoing reforms aimed at upgrading the banking and financial markets."

The report highlighted efforts by Korea to foster innovation and creative talent to ensure future growth.

"Korea's R&D budget, currently 3% of GDP and high by international standards, is being further enhanced. A total of 40 trillion won was earmarked from the national budget for R&D investment between 2003 and 2007."

The report did note that with the deadline for attainment of APEC goals drawing nearer, greater effort needed to be made in some areas.

"With the Bogor clock ticking, it is a cause of unease that there has been little change in the main tariff and non-tariff measures as applied on an MFN basis," the report stated.

The report observed the changes in tariffs over recent years with simple average bound tariff rate reduced to a considerable extent compared with the rate in place in the 2003 IAP. The report found that when all WTO commitments are finally implemented in 2009, and when FTAs under negotiations are concluded, the average bound tariff will be further decreased.

The difference between the bound rates applying to agricultural products (currently averaging 61.1%) and those applying to industrial products, which currently average 10% was also discussed in the report: "Agriculture is still the area where the highest levels of protection apply and represents the toughest hurdle to meeting the Bogor goals."

The report also singled out the Korean Customs Service for mention in relation to its efforts to improve efficiency and transparency in port processing: "Korean Customs Service maintained its impressive record of utilising IT technology to improve efficiency, cut clearance times, enhance probity and integrity, and employ sophisticated intelligence and risk management systems. Its achievements over the past few years have attracted international acknowledgement."

The environment to facilitate business competition in Korea was also highlighted with observations that Korea is strengthening institutions to ensure fair business competition: "Recent changes include policies to upgrade the nation's economy in line with 3-year Market Reform Roadmap; establishing and facilitating voluntary regulation by market participants; enhancing the case handling process and related organizational capacity; and strengthening international cooperation."

Social factors were highlighted by the report stating that the Korean Government "is also expanding social and welfare expenditures, for example by widening the scope of social insurance entitlements, enhancing the education system, and stabilising the cost of housing for those at the lower end of the socio-economic scale."

The report was researched and written by Mr Greg Wood, the CEO of GSRW Consulting in Australia and Associate Professor Hikari Ishido from Chiba University in Japan.

Three APEC Member Economies, China, Korea and New Zealand, are having their IAPs' reviewed at the current round of APEC meetings taking place in Cairns.

The full report will be made available on the APEC website (www.apec.org) after it has been presented to APEC Senior Officials on July 3.



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A review of China's progress to achieve its APEC free trade and investment goals has stated that China has greatly contributed to the trade and investment environment in the APEC region.

The Study Report on China's Individual Action Plan (IAP) was reviewed by representatives of APEC's Member Economies in Cairns today.

IAPs are developed by each APEC Member Economy to guide them in their efforts to achieve APEC's Bogor Goals of free trade and investment in the Asia-Pacific region by 2010 for industrialized economies and 2020 for developing economies.

The IAP review program provides each APEC Member with the opportunity to have their progress towards APEC's goals assessed by Independent Experts. A peer review session is then conducted in which officials from other economies pose questions to the economy under review to better understand where progress is being made and where additional efforts may be required.

The report into China's progress stated that China has made important steps towards attaining APEC's free trade and investment goals by "lowering trade barriers and improving accessibility to goods and services imported from the rest of the world."

The report also noted China's implementation of WTO commitments has resulted in a significant improvement of its APEC IAP noting that: "Trade barriers in the trade in goods and services have been continuously lowered over the past five years."

Making mention of the location of China's key export markets, the report cited the influence of the APEC process in China stating that APEC has become "very influential in determining subsequent economic policies in China-and for good reason, as the members of APEC are among China's most important trading partners."

In 2006, the total value of trade between China and APEC Member Economies exceeded 1.1 trillion US dollars, comprising 65 percent of China's total trade volume.

The report did state however that Chinese authorities are still coming to grips with reorienting China's economy to operate on market-based principles: "Observers note concerns in resource allocation mechanisms, particularly in state-owned enterprises and the banking industry." However, the report noted that in general "Chinese authorities have committed the direction of policy to the improvement of the market economy in China."

The report highlighted environmental management as posing significant challenges. "Chinese authorities recognize environmental concerns and have included the policy objective of accelerating environmental protection in its Eleventh Five-Year Plan."

The report also took note of China's attempts to strengthen its services sector through reform efforts. "After three decades of rapid economic growth led by the manufacturing sector, China aims to upgrade its industrial and export structure by focusing more on the service industry, and it appears that China has made good use of liberal reforms as a tool for this end," the report stated.

The report went on to observe that China had exceeded expectations in some areas, particularly in some sectors such as banking and the securities market where "China has liberalized beyond its obligation, indicating that liberalization is its basic policy direction."

The report also looked at China's efforts to strengthen Intellectual Property Rights Protection (IPR) since the last peer review in 2003 observing that: "China has made significant advances in IPR protection anchored on commitments from the highest political levels. There are problems in enforcement but specific measures are being put in place to contain the extent of IPR infringement."

In this area, the report also cited the increased need for IPR protection by businesses in China as one factor contributing to a growing appreciation of IPR. "One favorable development is the growing domestic constituency for IPR protection. As local demand for IP protection increases, so should awareness and adherence to IPR protection."

The report was researched and written by Professor Hongyul Han, from the Economics Division at the Hangyang University College of Economics and Commerce in Korea, and Assistant Professor George Manzano from the School of Economics at the University of Asia and the Pacific in the Philippines.

Three APEC Member Economies, China, Korea and New Zealand, are having their IAPs' reviewed at the current round of APEC meetings taking place in Cairns.

The full report will be made available on the APEC website (www.apec.org) after it has been presented to APEC Senior Officials on July 3.



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An independent review of New Zealand's progress to achieve its APEC free trade and investment goals has noted New Zealand's regulatory environment as being amongst the best in the world.

The Study Report on New Zealand's Individual Action Plan (IAP) was reviewed by representatives of APEC Member Economies in Cairns this week.

IAPs are developed by each APEC Member Economy to guide them in efforts to achieve APEC's Bogor Goals of free trade and investment in the Asia-Pacific region by 2010 for industrialized economies and 2020 for developing economies.

The IAP review program provides each APEC Member with the opportunity to have their progress towards APEC's goals assessed by Independent Experts. A peer review session is then conducted in which officials from other economies pose questions to the economy under review to better understand where progress is being made and where additional efforts may be required.

Wide-ranging reforms in New Zealand's economy over recent decades were singled out for particular mention. The report said that these reforms have led to the economy becoming "one of the most open and flexible economies in the OECD area."

"Overall, New Zealand's product markets work well, especially given the constraints faced by a small and geographically isolated economy. Minimising barriers to entry has been especially important for promoting competition by constraining potentially anti-competitive behaviour."

The report did sound a note of caution: "A large external deficit, very low household savings and still-strong inflation pressures offer signs of an unbalanced growth pattern, though there are some indications that such imbalances may be starting to unwind."

In broad terms, however, it was acknowledged that these ongoing challenges do not mask an overall picture of a fundamentally reformed economy now enjoying sustained economic growth.

The report noted New Zealand's ongoing commitment to enhancing the multilateral trading environment through forums such as the WTO. "The multilateral process remains the top trade priority for New Zealand because it offers the largest potential gains. New Zealand considers it important to ensure that the country is part of the ongoing dynamic towards preferential trade agreements so as to strengthen economic links and obtain improved access to key markets in the region and beyond."

The major market-oriented reforms that were initiated in New Zealand in the mid 1980s and have continued over the past two decades were noted for their contribution to reducing protectionist barriers to trade, including the period since the last IAP review in 2003. "In particular, tariffs were cut considerably and the period since the last IAP review has seen continued unilateral tariff liberalization. Ninety-five percent of the country's imports are today free of duty, and of the remaining 5% of goods by value that are dutiable, most goods attract rates of duty between 5% and 7.5%. In addition, non-tariff barriers in the form of quantitative restrictions and export assistance measures have long been removed, a policy course that has also been applied to import licensing.

The report stated that these tariff and non-tariff measures are areas where New Zealand can credibly claim to have already met, or will soon meet, its Bogor Goals.

New Zealand's progress to reach the Bogor Goals in the services sector also appears on track with the report noting that "the growth of New Zealand's services exports surpassed the OECD average since 2000, with tourism and education services leading the way."

New Zealand's open approach to finding skills beyond its borders to facilitate employers' access to global talent was highlighted as being particularly useful. "New Zealand has active temporary work programs to enable people to come to New Zealand and work while they are in the country. The Department of Labour regularly surveys the labour market and industries to identify occupations in national or regional shortage."

As part of this approach to facilitating the mobility of people, the report noted that New Zealand also generally exceeds the APEC best practice standard of 30 days to process intra-company transferee applications.

The report was researched and written by Professor Pierre Sauvé from the World Trade Institute in Switzerland, and Professor Bambang P.S. Brodjonegoro from the Faculty of Economics at the University of Indonesia.

Three APEC Member Economies, China, Korea and New Zealand, are having their IAPs' reviewed at the current round of APEC meetings taking place in Cairns.

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The APEC Secretariat has launched a new Project Management Unit to coordinate the ever increasing number of APEC capacity building projects.

More than 250 projects valued at around US$18.5 million are currently being implemented around the APEC region with this amount set to increase on the back of recent additional funding commitments by Member Economies.

These projects cover areas that enable people, businesses and government departments to increase skills to better engage in trade and investment as well as increase their capacity to deal with potential natural disasters, terrorist attacks and health pandemics. Since APEC first began to undertake capacity building work in 1993, more than 1200 projects have been initiated.

After formally presenting details of the new unit to APEC Senior Officials in Cairns today, the Executive Director of the APEC Secretariat, Ambassador Colin Heseltine, said the creation of the unit specifically to manage APEC capacity building projects is another component of APEC's ongoing reform program.

"The APEC Project Management Unit will improve APEC's project processes to ensure a more strategic approach is employed in identifying needs for capacity building support and then implementing the relevant projects," Ambassador Heseltine said.

"The objectives of the Project Management Unit are to improve the coordination of project activities and ensure more cost-effective and targeted projects. The unit will be located at the APEC Secretariat in Singapore through the reallocation of existing staff."

Ambassador Heseltine said the increasing range of APEC capacity building projects have grown to a point where a full time unit is required to ensure best management.

"Our capacity building efforts cover a broad range of areas and provide support at a local level to help people be more active in the global economy.

"These projects might include agricultural producing areas that will benefit from advances in post-harvest technology that will help to increase their crop harvest, through to customs officers who will improve their skills in the efficient processing of cargo at international ports."

The Project Management Unit's primary roles will include the management of the Secretariat Project Assessment Panel that will report to the APEC Budget and Management Committee on the outcomes of projects, and to conduct training programs for Program Directors and Member Economies to build capacity in project management.



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The Australian Government Minister for Trade Warren Truss has welcomed a new strategy to boost trade, reduce costs to business and which will benefit consumers in the Asia-Pacific region.

Meeting in Cairns, APEC Ministers Responsible for Trade have agreed to a new Trade Facilitation Action Plan to reduce trade transactions costs in the Asia-Pacific region by 5 per cent by 2010.

The importance of this work was highlighted in a draft report prepared for APEC by the World Bank, presented in Cairns, which concluded that more transparent and predictable trade regulations for importers and exporters could boost the collective trade performance of APEC economies by nearly $148 billion.

"The measures agreed in this action plan will deliver practical outcomes for business and consumers, who will benefit through more competitive prices", Mr Truss said.

"I am pleased that we have agreed to a collective approach in implementing this work. The benefit to APEC economies is maximised when we all pull in the same direction", said Mr Truss.

Participation by Asia-Pacific business in the development of this new plan has been important in ensuring that activities undertaken are targeted and practical.

Initiatives include the development of 'Customs Single Windows' by APEC economies, the expansion of the APEC Business Travel Card Scheme, harmonisation of food safety standards and work on data privacy to protect the integrity of e-commerce.

"I would like to acknowledge the contribution of the APEC Business Advisory Council in assisting this work. Implementation of the plan will keep APEC at the forefront of international work to reduce trade transaction costs."

Trade Facilitation Action Plan II

TFAPII sets out a framework to streamline electronic customs documentation, improve the online business environment, better harmonise domestic with international standards, and make business travel in the region easer. In addition to identifying a range of individual measures member economies can adopt, the plan also contains an agreed set of collective actions, including:

Customs Single Windows

Customs Single Windows are a service allowing businesses involved in trade and transport to lodge standardised information and documents at a single entry point to fulfil all import, export and transit related regulatory requirements. Its great benefit to business is that information must only be submitted once if in electronic form. APEC member economies have agreed to work towards their implementation across APEC.

Expansion of the APEC Business Travel Card Scheme

The APEC Business Travel Card Scheme currently provides cardholders of 17 member economies with priority immigration and clearance on arrival and departure from international airports. It also provides multiple visitor entry visas to participating economies over a three year period. Expansion of the scheme to cover the US and some other member economies will be an important TFAPII outcome.

Food Safety and Standards Harmonisation

To respond to the health challenges posed by food safety, while at the same time ensuring that solutions do not create unnecessary barriers to trade, APEC member economies will develop a framework to strengthen cooperation in food safety. An important feature of this initiative will be work to better align domestic and international food standards, which will reduce costs to business.

Protecting Data Privacy

Cross border data flows are the currency of the digital economy that fuels growth in the information age. Information technologies offer great benefits for business, individuals and governments including increased consumer choice, market expansion, productivity and product innovation. At the same time, concerns can arise over the control of personal information leading to a lack of consumer confidence in the privacy and security of on-line transactions. To meet this challenge, APEC member economies have agreed to expand their work on implementation frameworks and cross-border privacy rules for accountable cross-border information flows.



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The 13th Meeting of APEC Ministers Responsible for Trade has released a Statement on the Doha Development Agenda.

The morning session of the ministerial meeting was dominated by a review of the latest details of WTO negotiations and consideration of action to be taken by APEC to bring the round to a successful conclusion.

The statement was issued at the conclusion of their first day of meetings that involved ministerial discussion on a number of other issues impacting on the social and economic wellbeing of the Asia-Pacific Region.

The Statement on the Doha Development Agenda can be downloaded.

The APEC Trade Ministers' Meeting concludes in Cairns tomorrow.



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Australia's Treasurer and Chair of the 14th APEC Finance Ministers' Meeting, Hon. Peter Costello, today welcomed APEC finance ministers to Coolum on Queensland's Sunshine Coast.

"I am delighted to host the APEC Finance Ministers' meeting for 2007 and look forward to enjoying a productive meeting with my colleagues," Mr Costello said.

"APEC brings together 21 economies for high level economic talks and follows the success of the G-20 meeting in Melbourne last year.

"Although, we have moved forward in leaps and bounds, economic growth, development and stability continue to be vitally important in the Asia Pacific region," said Mr Costello.

"Last year, we discussed the impact of higher oil prices on the performance of the world economy and global imbalances. This year, we will be examining economic issues of importance to continued growth in the region, including climate change and energy security, investment and structural reform, deepening private capital markets and the sustainability of government finances."

Mr. Costello said he would also work to promote and develop APEC's structural reform agenda and strengthen APEC?s activities in the important area of investment.

The Treasurer welcomed finance ministers to join him in a ministers-only retreat to informally discuss issues of economic and strategic relevance to the region and a working lunch with business representatives.

A central part of the Asia Pacific economic architecture, the APEC Finance Ministers' meeting provides an annual forum for ministers to actively exchange views on regional macroeconomic and financial developments and on national and regional policy priorities. High-level representatives from the International Monetary Fund, the World Bank and the Asian Development Bank also attend.



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The 14th APEC Finance Ministers' Meeting takes place this week in Coolum, Australia. In preparation for the meeting, the Australian Treasury, as the host department for the meeting, has prepared a number of background notes on the policy themes to be discussed by the APEC finance ministers.

The briefing notes are available for download:

Global Capital Flows and Strengthening Investment in the Asia-Pacific Region

Energy Security and Climate Change

Transparency and Sustainability of the Public Balance Sheet 

Making Private Capital Markets Work Better in Our Region 

The week of meetings began today with a preparatory meeting of officials to draft final documents and will be followed by a meeting of Finance and Central Bank Deputies on 31 July-1August, before the Meeting of APEC Finance Ministers will meet on 2-3 August.

News photographs from the Finance Ministers' Meeting and related meetings will be uploaded for use by the media as these become available.

News Photographs will be available here. 



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The United States will provide the Asia Pacific Economic Cooperation (APEC) forum with a total of US$2.3 million in 2007 to support capacity building projects across the Asia-Pacific region.

United States Senior Official for APEC Patricia Haslach announced the total contribution as the APEC Budget and Management Committee met in Singapore to determine funding priorities for APEC over the coming months.

"APEC is the premier economic forum in the Asia-Pacific region and we want to ensure it has the resources it needs to implement a strong work program in capacity building and trade and investment facilitation." Haslach said.

In March 2007, the United States contributed US$500,000 to the APEC Support Fund (ASF). The United States will contribute an additional US$300,000 to the ASF. The new contribution will also include US$1.5 million for the Trade and Investment Liberalization and Facilitation Special Account (TILF).

The U.S. contribution to TILF will mark the first time that a new economy has joined Japan in supporting projects targeted at helping APEC members to further trade and investment liberalization. Previously, Japan had been the sole contributor to the TILF account.

The APEC Support Fund, established in 2004, supports projects for developing economies in the APEC region. It enables APEC to conduct economic and technical cooperation activities in such areas as health security, anti-corruption, and human resources development. Economic and technical cooperation is a pillar of APEC activities that complements APEC's trade and investment liberalization and facilitation agenda.

Haslach said that one of the main U.S. goals for APEC in 2007 is to help strengthen APEC's ability to launch effective capacity building initiatives by providing for a strong capacity building program.

"We hope that our contribution, and those of other APEC members, will support programs that lead us closer to the shared vision of regional economic integration," Haslach said.

The U.S. has been an active member in APEC since the forum's founding in 1989. The U.S. hosted the first annual APEC Economic Leaders Meeting in 1993 in Blake Island, Washington.



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Business leaders in the Asia Pacific have called on APEC Leaders to continue to improve international competitiveness to maintain robust economic growth in their economies and in the region. They have also identified climate change and energy security as fundamental issues for business which require attention from policy-makers.

In presenting the APEC Business Advisory Council (ABAC) 2007 Report to APEC Economic Leaders today to the Hon. John Howard, Australian Prime Minister and 2007 APEC Chair, the ABAC Chair, Mark Johnson said that while business conditions in the Asia Pacific are strong, APEC economies need to also focus on the challenges that climate change brings.

The report can be downloaded here.

"Energy security and the impact of climate change on our communities and businesses are important issues for ABAC," Mr Johnson said.

"We welcome the initiative of the 2007 APEC Chair to put clean development and climate change at the forefront of the APEC agenda for Sydney in September.

"ABAC believes energy security and climate change are inextricably linked. APEC's role should be to foster policies that deliver a sound investment and regulatory framework to all the communities in the region, and to allow businesses to play its part through innovation and delivery of energy efficient technologies.

"ABAC also continues to highlight to APEC Leaders its frustration with the inability of the WTO to secure a practical outcome from the Doha Trade Negotiations. Business is moving to support alternative ideas to drive liberalisation in the region," said Mr Johnson.

ABAC has also identified a number of priorities, including harmonisation of standards, labour mobility and APEC reform in its Report.

ABAC comprises three senior business representatives from each of the 21 APEC economies. ABAC Members will engage APEC Leaders on these issues when they meet in Sydney next month as part of the APEC Leaders Week.



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APEC Leaders will consider climate change, energy security and clean development as key themes for their 2007 retreat In Sydney.

The use of fossil fuels for transport and electricity production is a major factor in the increasing levels of greenhouse gases in the atmosphere which contribute to climate change and APEC has already launched initiatives, primarily through the Energy Working Group (EWG), to more broadly promote clean and efficient energy production and use.

In 2001, APEC developed the Energy Security Initiative (ESI), which comprises short-term measures and long-term policy responses to address the challenges facing the region's energy supply. APEC's key activities aimed at practical outcomes on clean development and climate change include:

I. Energy Investment and Trade

APEC is developing mechanisms that could encourage banks to more fully consider the savings from Energy Efficiency and Renewable Energy (EERE) investments.

Natural Gas Trade. APEC Best Practice Principles for Natural Gas Trade to promote financing and investment, technology transfer, and transparent permitting processes for liquid natural gas (LNG) facilities are being developed.

Environmental Goods. APEC is seeking to develop a list of environmental goods that could be updated regularly and used as a reference for regional trade. APEC is also conducting training on environmental goods focusing on renewable and clean energy technologies and water and wastewater treatment.

An APEC Energy Trade and Investment Study and Roundtable in 2008 will identify trade and investment barriers to the greater use of cleaner and more efficient fuels and technologies in the APEC region and discuss ways to overcome these barriers.

II. Energy Efficiency

Mitigating the effects of climate change through increased energy efficiency measures is promoted by APEC in a variety of ways:

The APEC Energy Standards Information System (APEC-ESIS) provides government and industry with information on testing standards, minimum energy performance standards and labeling requirements for a range of equipment traded in the APEC region.

Increasing highway transport and passenger transport system efficiency is an important issue for the APEC Expert Group on Energy Efficiency and Conservation. This includes the examination of a range of policies for improving the fuel efficiency and the analysis of transportation data to track energy efficiency improvements.

An APEC Energy Peer Review Mechanism is being developed for APEC member economies to undergo a voluntary progress review, relating to energy policy reforms and implementation of initiatives aimed at attaining energy efficiency goals.

III. Energy Technology

Technological advances have created opportunities to reduce emissions in a number of areas:

The APEC Expert Group on New and Renewable Energy Technologies (EGNRET) designs projects to assess, develop, and promote renewable energy technologies. This includes a sourcebook of hydrogen codes & standards for APEC member economies and projects focusing on developing best practices in energy efficiency and renewable energy in buildings.

The APEC Expert Group on Clean Fossil Energy (EGCFE) sponsors studies and training to help expand the use of clean coal technologies and natural gas in electricity generation.

Nuclear Power is an important source of low-emission energy generation in the region and APEC Energy Ministers have been active in encouraging relevant economies to ensure the safety, security, seismic, health and waste handling aspects of civilian nuclear energy are adequately addressed.

IV. Transport Emission And Alternative Fuels

Recognizing that the transportation sector contributes large-scale emissions and is the leading sector for oil demand growth in the APEC region, APEC is working with industry to improve fuel efficiency and promote alternative fuel use.

APEC Transportation Ministers have directed the Transportation Working Group (TPTWG) to work with experts on sustainable policy approaches to address emissions from aviation operations. A first APEC seminar which developed options to reduce aviation emissions based on mutual consent, was held from 10-11 August in Singapore.

The APEC Biofuels Task Force is overseeing projects such as an assessment of biofuel resources and supply potential and establishing guidelines for biodiesel standards in order to enhance APEC biodiesel trade.

V. Preparedness And Adaptation

Across a broad range of sectors APEC fora are working to increase awareness and preparations for the potential repercussions of climate change, including:

The APEC Industrial Science and Technology Working Group (ISTWG) will conduct a project to help member economies reduce negative economic impacts, and protect lives and properties by providing climate prediction information. The ISTWG is also assisting in the development of an early warning system of high impact climate changes.

The APEC Marine Resources Conservation Working Group (MRCWG) has developed projects on climate change adaptation to deal with issues that include rising sea levels.

VI. Dialogue With Business Sector

Public-private sector partnerships have become an important ingredient for the success of government policy in addressing the challenges of climate change. APEC provides a forum for government-to-business dialogues including:

The Energy Business Network (EBN) was created to provide an industry perspective on the key energy challenges that could be factored into government decision making. This is particularly relevant when considering issues relating to climate change.

The 2007 APEC Energy Business Forum enabled Energy Ministers and senior energy industry representatives from a wide range of APEC member economies to discuss ways to deal with the impact of high energy prices and climate change on the efficiency of energy use and options for clean energy supply in buildings, industry, electric power generation, and transportation.

VII. Cooperation With Other Organizations

Cooperation and partnership between international organizations on energy security, climate change and other environmental challenges is essential for each to make a valid contribution through their specific area of expertise. For APEC this includes:

The EWG collaborating with the International Energy Agency to build dialogue on energy statistics and indicators, energy technology development and oil security. The EWG will also submit, as a partnership initiative led by Australia and Mexico, a report on "Energy for Sustainable Development: Fostering Regional Energy Cooperation in APEC" to the United Nations Commission on Sustainable Development.




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APEC has launched a new guide to help governments implement change to replace century old passports technology with new biometric passports embedded with microchips.

Launched today in Melbourne, the "Guide to Biometric Technology in Machine Readable Travel Documents" provides technical and case experience information for governments in the APEC region and elsewhere around the world to upgrade their passport technology.

Biometric enhanced passports that include an electronic microchip (ePassports) help protect people's identity and facilitate secure travel.

The Project Overseer for the development of the new APEC guide, Mr. David Merz, said the guide will provide practical assistance to help governments protect against the fraudulent use of passports.

"This guide is a great tool for any government setting about introducing a biometric passport," Mr. Merz said at the launch.

"The guide draws on input from technical experts as well as best practices and experiences of those governments who have already introduced ePassports.

"This guide will contribute significantly to identity security and travel safety within and beyond APEC."

The guide, that is now available for download from the APEC website, includes chapters on relevant legal frameworks, privacy, project management, and funding models. These chapters can be downloaded and used by governments to plan the different stages involved in introducing ePassports.

The guide is available here.

The launch was attended by industry experts and representatives from governments around the region including Australia, New Zealand Papua New Guinea, Peru, Thailand and Viet Nam.

ePassports, a revolutionary improvement in passport technology to replace the previous common passport design that has been in existence for centuries, was formally adopted as the standard by a League of Nations conference in 1920. The only other significant improvement before the introduction of ePassports was the agreement by the International Civil Aviation Organization (ICAO) for the adoption of machine readable passports in 1981.

Australia, as a member of the APEC Business Mobility Group, has led this APEC project to develop a web based guide to introducing ePassports. Australia began issuing ePassports to its own citizens in 2005. These ePassports contain an electronic version of the bearer's photo and biodata, thus making the Australian ePassport more secure from fraudulent alteration.

The completion and release of the guide is one of the achievements of APEC 2007 hosted by Australia that reaches its climax with the APEC Leaders' Meeting in Sydney next week.



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One of the largest International Media Centres (IMC) ever built in the southern hemisphere has opened at the Sydney Convention and Exhibition Centre in Darling Harbour for APEC Leaders Week 2-9 September.

The purpose-built 10,000 square metre media centre will welcome more than 1,500 international and domestic press, photographic, broadcast and online accredited media as they report the events of APEC in Sydney this week.

The media centre comprises an International Broadcast Centre and Main Press Centre over two halls including a press conference room which seats 260, a main press working area for 300 media, briefing rooms for 85, interview rooms, and private offices hired by media organisations.

APEC Australia 2007 spokesperson, Ms Anne Fulwood said APEC in Sydney, the most significant diplomatic event Australia has ever hosted, will attract intense media interest in Australia and throughout the Asia-Pacific region.

"Comprehensive arrangements have been put in place to provide the best possible coverage of the event," Ms Fulwood said.

"The media centre was designed and built with proven models used during the Sydney Olympics and Melbourne Commonwealth Games, and draws on a wealth of experience from other major events such as CHOGM, the Australian Tennis Open and 2003 Rugby World Cup.

"This will be one of the first times a major event in Australia has combined both the broadcast facilities and the press facilities under one roof, rather than being co-located across various venues.

"Media will have a one-stop facility to cover the Asia-Pacific Economic Cooperation meetings in Sydney and broadcast the events as they unfold live," she said.

The IMC will operate for a minimum of 12 hours daily from 1 September until Sunday 9 September during APEC in Sydney and facilitate media coverage of the:

- Concluding Senior Officials Meeting (CSOM) [2-3 Sept] 
- APEC Business Advisory Council (ABAC) [2-6 Sept] 
- APEC Ministerial Meeting (AMM) [5-6 Sept] 
- APEC Australia 2007TM Business Summit [6-7 Sept] 
- ABAC Dialogue with Leaders [8 Sept]

Approximately 130 trained student volunteers, many bilingual, will also be on hand to assist in the IMC and benefit from practical work experience.



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Australia's Minister for Trade Warren Truss has released a report showing the APEC region's Gross Domestic Product (GDP) has increased three-fold to $37.3 trillion since the start of APEC in 1989.

"It is a massive level of economic growth that has delivered benefits to almost 3 billion people in the region," Mr Truss said.

Mr Truss said figures compiled by the Department of Foreign Affairs and Trade showed that between 1989 and 2006, APEC's per capita GDP had risen much faster than the rest of the world.

In 1989, APEC economies had a per capita GDP of $5,205 which was on par with the world average. In 2006, its per capita GDP was almost $14,000, compared with $10,305 for the world's average.

"APEC has advanced because it has opened itself to the benefits of free trade and investment, and has reduced tariffs, embraced technology and improved its productivity and competitiveness in global terms," Mr Truss said.

The report notes that for the host of APEC in 2007, trade in goods and services between Australia and APEC members has increased 14 per cent to $294 billion in 2006 and accounted for 69 per cent of Australia's trade with the world.

"On average, our trade in goods and services with the APEC region has increased 7.5 per cent every year since 1989, rising during that period from $81.6 billion to $294 billion," Mr Truss said.

"This extraordinary growth has provided jobs and prosperity not just for Australians, but for people in every APEC economy.

"Over the next week, we must make every effort as a regional forum to continue that momentum, particularly in core areas of economic liberalisation and structural reform" he said.

The APEC Region Trade and Investment is one of a series of statistical publications released each year by DFAT.

The report is available for download at: www.dfat.gov.au/publications/stats.html



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Australia's Minister for Trade, Warren Truss, today released a report which indicates that potential trade gains from more transparent and predictable trade regulations among APEC economies would be worth approximately US$148 billion to the region.

The report was commissioned from the World Bank to support work in APEC on trade facilitation and transparency.

As more than 40 Ministers start to arrive in Sydney for the annual APEC Ministerial Meeting (AMM) on 5-6 September, Mr Truss said the report highlighted that there was still more that APEC could do to enhance free and open trade and investment in the region.

"Greater transparency and predictability boost trade and reduce costs to business and ultimately to the consumer," Mr Truss said.

"APEC Trade Ministers meeting in Cairns in July agreed to a new Trade Facilitation Action Plan (TFAP) aimed at reducing trade transaction costs in the Asia-Pacific region by 5 per cent by 2010.

"The World Bank report acknowledges this goal and points out that APEC has long been at the forefront of reform efforts in the area of trade facilitation."

Mr Truss said the involvement of business was important to achieving reduced transaction costs and paid tribute to the contribution the APEC Business Advisory Council (ABAC) was making to APEC's work in this area.

The report says making trade policy more predictable reduces uncertainty, and costs to business. It adds that simplifying trade policy makes it easier for importers and exporters to identify, assess and comply with regulation, also reducing costs.

The report concludes there is considerable scope for APEC to consolidate and build on progress already made in the area of transparency and trade facilitation. It says that mobilising the financial and technical resources to ensure that such a reform program is feasible and sustainable across such a diverse regional grouping will require APEC members to once again demonstrate the creativity and flexibility for which APEC is so noteworthy.

Mr Truss commended the report as a good example of collaboration between APEC and the World Bank. It draws on the strength in research and analytical resources of the World Bank and APEC's willingness to engage constructively on new issues that impact on trade and economic cooperation.

To download the report go to: http://econ.worldbank.org/projects/trade_costs



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Australia's Prime Minister, John Howard, has today announced further arrangements including program details for the Asia-Pacific Economic Cooperation (APEC) Australia 2007 Business Summit, to be held in Sydney from 6-7 September 2007.

Mr. Howard said he looked forward to hosting the summit.

"I am confident the APEC Australia 2007 Business Summit will continue to strengthen bonds within the APEC region and deliver outcomes that will benefit business and member economies," Mr. Howard said.

"The two-day summit will be the key event bringing together business and economic Leaders during APEC Leaders Week to be held from 2-9 September 2007.

"Delegates to the summit include senior figures from across the Asia-Pacific region representing a broad range of industry sectors including: professional services, financial services, education, information technology, retail trade, engineering, consumer services, media, and energy.

"Speakers, panelists and moderators at the summit exemplify the high level of interest in APEC economies and the region. Leaders from The People's Republic of China, Chile, Peru, the United States and Canada will be participating throughout the program, as well as senior business and government representatives, and commentators as follows."

Under the overarching theme 'Strengthening our community, building a sustainable future,' this year's summit provides an opportunity to build on cooperation between business and governments within the Asia-Pacific and ensure that broader Asia-Pacific perspectives are given full voice in shaping the stability and prosperity of our region into the future.

Summit representatives include: Mr. Murofushi, Itochu Corporation, Japan; Mr. Miller, JSC Gazprom, The Russian Federation; Ms. Yeoh, YLT Corporation Berhad, Malaysia; Mr. Ang, San Miguel Corporation, Republic of the Philippines; Mr. Donohue, U.S. Chamber of Commerce, United States and Mr. Gempachiro, Mitsui & Co, Japan.

Business Summit Session Details:

Session 1

Theme:

Full steam ahead? Can the Asia-Pacific meet the challenges ahead and seize the opportunities

Panelists:

Ms Wang Lili, Senior Executive Vice President, Industrial and Commercial Bank of China

Mr Ricardo Lagos, President, Fundación Democracia y Dessarrollo

Mr George Yong-Boon Yeo, Minister for Foreign Affairs, Singapore

Dr Han Sung-Joo, President, Korea University

Ms Margaret Jackson AC, Chairman, Qantas Airways Limited

Session 2

Theme:

Does Doha matter? Do preferential trade agreements offer a genuine way forward for further liberalisation?

Panelists:

Mr Pascal Lamy, Director-General, World Trade Organization

Mr Herminio Blanco Mendoza, President and Chief Executive Officer, Soluciones Estrategicas Consultoria

The Hon Warren Truss MP, Minister for Trade, Australia

Dr Pangestu, Trade Minister, Indonesia

Session 3

Theme:

Human capital and the economic future of the Asia-Pacific: Education, information and innovation

Panelists:

Professor Ian Frazer, Clinical Immunologist, The University of Queensland's Centre for Immunology

Mr Craig Mundie, Chief Research and Strategy Officer, Microsoft Corporation

Datuk Dr Sharifah Hapsah Syed Hassan Shahabudin, Vice Chancellor Universiti Kebangsaan, Malaysia

Session 4

Theme:

Energy, climate change and growth in the Asia-Pacific

Panelists:

Mr Charles Goodyear, Chief Executive Officer, BHP Billiton

Mr Fu Chengyu, Chairman and Chief Executive Officer, China National Offshore Oil Corporation

Mr David O'Reilly, Chairman and Chief Executive Officer, Chevron Corporation

Dr Ziggy Switkowski, Chairman, Australian Nuclear Science and Technology Organisation

Mr Agus Sari, Regional Director Southeast Asia, Country Director Indonesia, PT EcoSecurities Indonesia

Session 5

Theme:

Fireproofing the regional economy: Meeting the challenge of economic, fiscal and structural reform.

Panelists:

The Hon Peter Costello, MP, Treasurer, Australia

Dr Zhu Min, Executive Vice President, Bank of China

Mr Nicholas Eyzaguirre, President, National Innovation Council for Competitiveness, Chile

Mr Haruhiko Kuroda, President, Asian Development Bank

Closing Theme:

Strengthening our community, building a sustainable future.

Business Summit Moderators:

Dato Paduka Timothy Ong, Chairman, The Brunei Economic Development Board

Mr Guy de Jonquières, former Financial Times World Trade Editor and Asia columnist and commentator

Professor Glyn Davis AC, Vice-Chancellor and Principal, The University of Melbourne

Mr Robin West, Chairman, PFC Energy

Mr Ian Macfarlane AC, Former Governor of the Reserve Bank of Australia

For further details please visit the APEC Australia 2007 website: www.apec2007.org/business_summit



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Australian Minister for Trade, Warren Truss, today released a report on investment in member economies of the APEC region.

Reducing Behind-the-Border Barriers to Investment has been prepared for the APEC Investment Expert Group by the Canberra-based Centre for International Economics.

"Investment is crucial to economic growth and to help reduce poverty for people across the APEC region," Mr Truss said.

"This report will inform APEC's growing work on investment and structural reform. Ministers will discuss these issues at the APEC Ministerial Meeting.

"Because most investment in member economies is sourced domestically, the reduction of these behind-the-border barriers to investment offers considerable potential for economic growth.

"I welcome the report and note that it reinforces the message from APEC Finance Ministers in August that continued structural reform is needed to tackle investment barriers in the region.

"It is the APEC way to encourage change rather than be prescriptive and this report is a store of valuable information that can be adapted to meet local conditions in member economies."

The report has found that restrictions to investment are greater in lower-income APEC economies than in the more prosperous ones and that domestic savings in the lower-income economies tend to be invested abroad despite ample investment needs and opportunities at home.

It identifies behind-the-border barriers to investment as encompassing domestic policies, rules, procedures and laws which may include excessive regulation, unclear property rights and poor legal systems. They increase costs and risks and limit business competition leading to lower productivity and growth.

The report concludes that if investors in APEC economies faced fewer barriers, investment would be higher and of a better quality, economic growth would rise and the incidence of poverty across APEC would fall.

Reducing Behind-the-Border Barriers to Investment is the second of two APEC complementary reports prepared by the Centre for International Economics for APEC on investment. The previous study - released in 2006 - looked at barriers to cross-border foreign investment.



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Issued by the 19th APEC Ministerial Meeting

The 19th APEC Ministerial Meeting has concluded with the release of the Joint Statement.

The statement is available for download.

The statement covers the following areas.

Promoting prosperity through a commitment to trade and economic reform

Continuing support for the WTO and the multilateral trading system

Regional Economic Integration

Regional Trade Agreements/Free Trade Agreements (RTAs/FTAs)

Individual Action Plans (IAPs) and Collective Action Plans (CAPs)

Trade Facilitation

Intellectual Property Rights and the Digital Economy

Investment

Anti-Corruption and Transparency

Improving the Business Environment and Structural Reform

Economic and Technical Cooperation (ECOTECH) and Capacity Building

Enhancing Human Security in the Asia-Pacific

Counter Terrorism and Secure Trade

Food and other Product Safety

Emergency Preparedness

Health

Energy Security and Sustainability

Ensuring APEC is Dynamic and Responsive to Developments in the Asia-Pacific

The APEC Leaders Week continues with the APEC Business Summit today and tomorrow. The APEC Business Advisory Council Meeting is currently underway and concludes on Saturday, and the climax of the week will be the APEC Leaders' Meeting on Saturday, September 8 and Sunday, September 9.



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A range of recommendations to reduce the rising road death toll in the Asia-Pacific were presented to APEC Transportation Ministers today.

The recommendations were developed by the APEC Automotive Dialogue Road Safety Summit held yesterday in the lead-up to the 5th APEC Transportation Ministers Meeting.

The recommendations call for Transportation Ministers to increase cooperation with ministers in other relevant portfolios to develop comprehensive road safety plans in all APEC Member Economies, and that these plans be reviewed in 2008.

The Chair of the APEC Automotive Dialogue, Mr. Peter Sturrock, said the rise in road fatalities is an important issue for APEC considering the correlation between accidents and economic growth.

"Increasing economic prosperity has brought with it rapid growth in the number of cars, trucks and motorcycles on the roads," Mr. Sturrock said.

"More vehicles on the roads has also seen a corresponding increase in the number of road deaths and injuries."

"Places where bicycles and pedestrians once filled the streets are now dominated by cars and motorcycles, but unfortunately safety has not kept pace with this change."

The North America Director of the Make Roads Safe Campaign and moderator of the summit, Dr. T. Bella Dinh-Zarr, said a crucial issue for curbing the road death toll was better planning before new roads are constructed.

"Today we have the knowledge to build roads that have a minimal likelihood of contributing to accidents, but we have to ensure that all economies have the resources to build safer roads.

"When new roads are funded through development projects it is important that this funding includes attention to ensuring that the road is properly planned to minimize accidents.

Dr. Dinh-Zarr said it is also important for governments to be proactive right now in order to increase public awareness of what individuals can do to stay alive on the roads.

"Knowing basic road rules, ensuring that operators of vehicles have good driving skills, understanding the road-related dangers of alcohol and the importance of using helmets and seatbelts are some of the simple solutions to lowering the number of deaths and injuries."

While many APEC economies currently have national road safety plans, most do not have ambitious targets for reduction of road traffic fatalities and injuries. This challenge will be taken up by the APEC Transportation Ministers during their meetings this week.

Coordinated by the APEC Automotive Dialogue, the summit brought together road safety planners, representatives from transportation regulatory bodies and auto industry executives to look at ways to improve road safety.



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The first meeting of the Asia-Pacific Economic Cooperation (APEC) Food Safety Cooperation Forum will be held on 2-4 April 2007 in the Hunter Valley in the Australian state of New South Wales.

Australia will co-chair the forum in partnership with China.

In preparation for the forum, Australia's Parliamentary Secretary to the Minister for Health and Ageing, Senator Brett Mason, highlighted the importance of food safety in the region.

"Food borne infections not only kill and cause significant physical distress to large numbers of people each year, food borne illness impose major costs, including the burden on medical and hospital services, lost production from sick employees, disruption to the food trade and loss of public confidence in food safety and standards," Senator Mason said.

"Improving food safety and standards levels throughout the region will not only contribute to the region's development and provide economic benefits, it will improve the health and well-being of the entire population.

"APEC members agreed in November 2006 to establish the APEC Food Safety Cooperation Forum in recognition of the need to strengthen food cooperation and prioritise capacity building in food regulation.

"Our aim is to encourage regional economies to work together to improve health and food safety for all people in the region by harmonising food safety regulations with international standards. This will also facilitate greater trade in food products throughout the region."

The APEC Food Safety Cooperation Forum will assist participating members to increase their technical capacity to develop domestic food safety regulatory systems, including harmonising their food inspection and assurance and certification regimes with international standards.

The forum will operate as an advisory body to APEC (via the Sub-Committee on Standards and Conformance) providing APEC food safety regulators with an opportunity to guide and influence the allocation of funding to food safety capacity-building activities in the Asia-Pacific region.



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Audio from the news conference at the conclusion of the 5th APEC Transportation Ministers' Meeting is available for download and use by the media.

The audio file contains opening comments by the Chair of the Ministerial Meeting and Australia's Deputy Prime Minister and Minister for Transport and Regional Services, Hon. Mark Vaile, then responses to questions by Mr. Vaile and the United States Under Secretary for Transportation, Mr. Shane

Audio (MP3, 4.5 MB)

News Photographs are available for download.



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Chair of the APEC Transport Ministers meeting and Deputy Prime Minister of Australia, Mark Vaile announced today that the 21 APEC economies, which represent more than a third of the world's population, have agreed to work cooperatively on practical measures to reduce aviation greenhouse gas emissions.

Mr Vaile said, in summing up the outcomes of the conference, that he was delighted that the APEC economies have taken this important step in combating the effects of greenhouse gas emissions on climate change.

"The commitment today from the APEC economies, is a major step forward in adopting a global approach to climate change and Australia will do all it can to help support practical and realistic initiatives that meet the environmental challenges of the future.

"Yesterday Australia announced a range of measures to reduce aviation greenhouse emissions including improving fuel efficiency through more flexible flight tracks, improving aircraft air traffic control sequencing to reduce fuel burn/emissions, more efficient runway use and continuous descent approaches which minimise speed changes.

"These measures will reduce aviation greenhouse gas emissions by hundreds of thousands of tonnes," Mr Vaile said.

BIOFUELS 
The 21 APEC economies also agreed to continue to actively work at increasing the take up of biofuels as a means of dealing with emissions in their land transport industries and agreed on further work to progress this initiative.

TRANSPORT SECURITY 
On transport security, the APEC Ministers agreed on a range of specific commitments to strengthen transport security across the Asia-Pacific region.

Ministers noted the particular challenges for commerce and passengers of the new restrictions on liquids, aerosols and gels (LAGS) in airline passengers' carry-on baggage. The meeting agreed that economies would work together to harmonise security arrangements, including the LAGS measures, to balance effective security with efficient commerce and trade.

ROAD SAFETY 
There was unanimous agreement to the development of proactive road safety strategies in all APEC member economies. Ministers agreed to set targets for casualty reductions and to report regularly to APEC on progress.

The meeting noted that APEC low and middle income economies bear a large portion of the world-wide 1.2 million road deaths each year.

Ministers agreed on the common features of the strategies - ensuring that they are comprehensive and effective.

TRADE LIBERALISATION 
Ministers reaffirmed their commitment to trade liberalisation with a strong focus on facilitation, recognising the importance of transport to free trade. The meeting also reaffirmed that transport is essential to efficient trade and regional integration.

The Transportation Ministers meeting - held in Adelaide 28-30 March - was attended by 250 Ministers and delegates from all 21 APEC member economies.

The meeting was characterised by active and open discussion and a strong spirit of cooperation reflected in a shared approach to the major transport issues common to many economies.

The meeting agreed to a detailed Ministerial statement which sets out a plan of action against the three themes of the meeting - transport's role in trade liberalisation and facilitation, transport safety, and transport security

The Joint Ministerial Statement is available for download here:

http://www.apec.org/Meeting-Papers/Ministerial-Statements/Transportation/2007_transport.aspx



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The Chair of the 2007 APEC Economic Leaders' Meeting, Australia's Prime Minister John Howard, has written to the leaders of APEC's other 20 economies inviting them to this year's APEC Economic Leaders Meeting and outlining his intention to make clean development and climate change a key topic for discussion in Sydney.

"The economies of APEC already account for 60 per cent of global energy demand and include the world's four largest energy consumers," Mr. Howard said.

"Energy demand across APEC is projected to double by 2030 (based on 2002 levels).

"Last year in Hanoi leaders instructed ministers to report in Sydney on ways APEC might respond to the challenge of meeting rapidly growing energy demands while minimising environmental effects. We now need to give practical effect to that instruction.

"Already many APEC economies are engaged in a range of joint initiatives in areas such as clean coal technology, renewable energy and energy efficiency aimed at practical outcomes on climate change.

This also includes the Global Initiative on Forests and Climate I announced on 29 March.

"We now have an opportunity to build on this cooperation and ensure that broader Asia-Pacific perspectives on climate change and the role of our economies are given full voice in shaping the relevant international frameworks into the future."

APEC Energy Facts

Primary energy consumption growth to 2030: 2% per year Primary energy production growth to 2030: 1.5% per year.

By 2030 APEC will move from a net exporter of gas and coal to a net importer. By 2030 oil imports will account for 52 per cent of oil demand.

Electricity demand to double from 8,109 TWh in 2002 to 19,163 TWh in 2030. APEC Total investment requirement for the energy sector over the outlook period between US$5.95 Trillion and US$7.55 Trillion.

(Source: APEC Energy Demand and Supply Outlook 2006: Energy at the crossroads, Asia Pacific Energy Research Centre 2006 (APERC))



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APEC's ongoing reform efforts took another step forward this week with the APEC Secretariat's first Chief Operating Officer taking up his position in Singapore.

Mr. Tan Ee Khoon, a Singapore national, will work to help strengthen the corporate management functions of the Secretariat.

The position of Chief Operating Officer is for a three-year period and was approved by APEC Ministers in Ha Noi last November.

Formerly the Head of Finance and Corporate Affairs in the Office of the Secretary-General of ASEAN, Mr. Tan brings to the position several years of multilateral cooperation forum experience.

The APEC Secretariat's Executive Director, Ambassador Colin Heseltine, said that from a long list of candidates, Mr. Tan had the experience and track record to be appointed to the position.

"Tan Ee Khoon has strong qualifications and relevant recent experience working in a regional multilateral forum," Ambassador Heseltine said.

"He has a strong reputation through his work with ASEAN, which is also an official observer to APEC."

In his role at ASEAN Mr. Tan led efforts to reorganise the ASEAN Secretariat's financial and corporate management operations to best practice standards and managed institutional and corporate affairs at the ASEAN Secretariat, covering the areas of finance, administration, personnel and training, and information technology.

Mr. Tan coordinated, serviced and facilitated ASEAN's negotiations on trade liberalisation, and economic integration and cooperation with ASEAN's Dialogue Partners and multinational organisations such as APEC and the UNDP.

Mr. Tan has also held other positions with the Singapore Confederation of Industries, the Singapore Chinese Chamber of Commerce and Industry and the Monetary Authority of Singapore.

In Ha Noi last November APEC leaders endorsed a package of reform measures aimed at making APEC more efficient and results-oriented. The creation of the Chief Operating Officer position is one in a range of ongoing APEC reforms aimed at improving operational efficiency, promoting operational linkages between APEC stakeholders and enhancing operational dynamism. APEC Senior Officials will continue discussion on implementing further measures during this year.

At a broader level reforms include efforts to rationalize the number and scope of APEC fora, prioritize project proposals and develop better coordination among sub-fora, working groups and task forces.



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As the global population grows and pressure on food and water supplies increases, cases of food-borne illness will multiply, the inaugural APEC Food Safety Cooperation Forum was told this week.

Dr. Gardner Murray, a former Australian Chief Veterinary Officer and now special adviser to the Australian Department of Agriculture, Fisheries and Forestry, told the Forum meeting in the Hunter Valley north of Sydney that climate change and increasing variations in the ecology of environments will force food scientists and regulators to revise their understanding of food pathogens and how to deal with them.

"With environmental damage and climatic variations we are already seeing new diseases emerging and 75% of them are zoonotic diseases (animal diseases that humans can catch)," Dr. Murray told delegates.

"New bugs are appearing and are adapting to the new conditions."

In Australia, for example, bat Lyssavirus has been around for thousands of years but only recently, as bat and human populations are pushed closer together in land and property developments, has the disease begun appearing in humans.

Similarly, research in Vietnam on the spread of the H5N1 flu virus showed that outbreaks spiked during the Tet holiday when people moved about the country with their poultry.

Communicating information about new disease threats to their populations will become more important for food regulators, whose risk analyses and communication messages must be simple, transparent and easy to understand, Dr Murray said.

"For example, in Korea, health authorities put food safety messages on the back of commonly sold packs of toothpicks in restaurants."

Meeting greater demands for food from growing populations has also led to more intensive livestock and agricultural production, genetic manipulation and new processing and preservation technologies producing an "explosion" of new foods. These are foods in which new chemicals are appearing as a part of the manufacturing process.

"As a result of increasing global trade, people movements and the industrialization of production and processing, consumers are potentially exposed to a greater number of food safety hazards than in the past," Dr Murray said.

"Dealing with this threat requires a thorough risk analysis process, the key elements of which are to identify and characterize hazards, assess the risk, manage it and communicate it publicly."

Forum participants agreed to meet again in two years to assess progress made and to respond to member economies' needs in:

Information sharing

Food safety regulatory systems

Food inspection and certification

Technical skills and human resource capacity building

The forum was opened by Senator Brett Mason, the new Parliamentary Secretary to Australia's Minister for Health and Ageing.



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Australia has launched a new education resource for Australian secondary school students intended to deepen their knowledge of Australia's links with the Asia-Pacific region and the APEC forum.

In launching the new resource entitled "APEC: Strengthening our Community, Building a Sustainable Future," Australia's Foreign Minister the Hon. Alexander Downer, highlighted the importance of this educational resource during Australia's year as host of the APEC forum.

"It is important that young Australians learn more about the Asia-Pacific region and how APEC, the pre-eminent body for economic cooperation in the region, contributes to Australia's economic prosperity through its integration with the region," Mr. Downer said.

"Australia has benefited from dynamic regional economic growth, with APEC's 21 member economies accounting for 69 per cent of our total trade worth $250 billion a year.

"There is no doubt that Australia's future lies in deepening our understanding of the region, and creating even stronger links with the people of our region."

The educational resource will be distributed to around 3,000 schools in Australia.

APEC: Strengthening our Community, Building a Sustainable Future introduces young people to APEC in an easily accessible form and in a way that fits into their existing studies of regional and global issues. It has been researched and written by leading curriculum specialist Mr. Robert Baker of Curriculum Corporation.

The Asia Education Foundation is running a Professional Development program for teacher-trainers and teachers. State and Territory education authorities and specialist teaching associations were consulted in the preparation of the resource.

As host this year, Australia is staging more than 30 major APEC meetings spanning more than 100 days and involving over 15,000 delegates. These events are being held in every capital city and several major regional centres and they will engage Australia ever closer with our region. The year will culminate in the APEC Economic Leaders Meeting in Sydney on 8-9 September.

A background paper to the initiative is available.



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The findings of a new APEC report will help Member Economies to deliver more transparent and quality assured education systems throughout the Asia-Pacific.

The report on the "Enhancement of Quality Assurance Systems in Higher Education in APEC Member Economies" was presented to the APEC EDNET meeting today in Brisbane.

The Lead Shepherd of APEC's Human Resources Development Working Group (HRDWG), Dr. Alan Ginsburg, said the report will be of great benefit to educators and students around the region.

"This report shows how the Human Resources Development Working Group in APEC can gather information about member policies to facilitate trade in education services within the APEC region," Dr. Ginsburg said at the HRDWG meeting in Brisbane.

"The report seeks to identify characteristics of highly successful quality assurance systems for higher education and to make this knowledge widely available in the APEC region.

"A range of quality assurance systems are assessed and compared in the report including consideration of trends and practices that have worked well, and opportunities for improvement."

Mr. Ginsburg said he expects the research and findings in the report to prove valuable to all APEC economies in assisting national quality assurance regimes to become more effective.

"The report will also help to expand opportunities for students, graduates and professionals to have their qualifications and prior learning recognized across borders throughout the APEC region."

Addressing the consequences of radical changes in higher education over the last 20 years, such as the increases in student numbers, higher costs and the greater cross-border mobility of students and education, the report looks at the various quality assurance systems developed across the APEC region.

The report was undertaken in response to the Third APEC Education Ministers Meeting that was held in Santiago, Chile, in April 2004 in which ministers placed a priority on achieving "transparent, accountable, regulatory, accreditation and quality assurance systems" across the region.

The full report can now be downloaded.

The APEC Human Resources Development Working Group is meeting in Brisbane from the 17-20 April. Outcomes from the meeting will be further discussed at the APEC Ministerial Meeting that will take place in Sydney in September





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Energy Ministers from APEC Member Economies will meet in Darwin, Australia, on May 29-30 to will discuss the challenges of meeting rapidly growing energy demands while minimising environmental effects.

The 8th Meeting of APEC Energy Ministers will seek to improve oil security through removing market impediments to oil exploration and production, enhance emergency preparedness, improve oil data sharing and promote energy efficiency in transportation and the development of viable alternative transportation fuels and policies.

Detailed information regarding the media accreditation is available.

The meeting will be Chaired by Australia's Minister for Industry Tourism and Resources, the Hon Ian Macfarlane MP, and provide valuable input to the APEC Leaders' Meeting that will take place in Sydney in September.

During the two day meeting Energy Ministers will also consider policies and technologies designed to improve energy efficiency as well as assist in the development and deployment of cleaner and more efficient energy technologies.

In their discussions, Energy Ministers will work to address barriers to attracting energy investment and facilitating greater cross-border energy trade and will look to promote wider cooperation and partnership with other international energy organisations and initiatives.

The meeting will be attended by APEC Energy Ministers and more than 200 government and industry delegates, support personnel and media representatives from around the Asia-Pacific.

The APEC region currently accounts for around 60 per cent of world energy demand and includes the world's three largest energy producers and consumers - the United States, the People's Republic of China, and the Russian Federation.

In addition to the Ministerial meeting, a one-day Energy Business Forum will be held to provide an opportunity for business and government representatives to discuss critical issues relating to energy policy development.



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Issued by the Fifth Secure Trade in the APEC Region (STAR) Conference

Counter terrorism experts, business representatives and government officers will meet in Sydney in June to explore cost-effective solutions to enhance the safe and secure movement of people and trade in our region.

Under the theme of "Mitigating Risks: Containing Costs," the Fifth Secure Trade in the APEC Region (STAR V) Conference will build on the success of the previous STAR Conferences that have been held around the Pacific.

High profile speakers from international organisations and leading international companies will join senior representatives from APEC economies in discussing cross-cutting issues such as the:

latest tools and technology in security;

effectiveness and scope for public-private sector partnerships;

capacity building in developing trading economies; and

future directions for security of trade.

Australia's Department of Foreign Affairs and Trade is hosting STAR V in Sydney from 27-28 June 2007 with the conference to be chaired by Mr. Mike Smith, Australia's Ambassador for Counter-Terrorism.

The annual STAR Conference is one of a series of regional capacity-building initiatives established by APEC Member Economies following terrorist actions that included the September 11 attacks.

The STAR conferences provide an interface between government agencies and business on issues and concerns relevant to the secure movement of people and trade within the APEC region and form a key part of APEC's counter-terrorism agenda. Business people recognise that we need a stable regional environment to encourage trade and development.

APEC members account for nine out of the top 10 global seaports by cargo volume and 24 of the top 30 airports for passenger traffic and 22 of the top 30 airports by cargo volume.

With a principal focus on the security of identity and security of the supply chain, STAR V is supported by three key Australian Government agencies: the Departments of Immigration and Citizenship, Transport and Regional Services, and the Australian Customs Service.



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APEC has launched an authoritative Tourism Risk Management Guide and training package to help businesses dependent on the tourism trade to survive natural disasters and crises.

This is the first time that formal risk management processes have been applied to the tourism sector. The materials are now freely available for governments and tourism industry organizations around the region to use, reproduce and distribute as required.

Launched today on the Gold Coast in Australia the program was developed in direct response to the damage inflicted upon the tourism industry by disasters that include the Indian Ocean Boxing Day Tsunami, Bali Bombings, Hurricane Katrina and the 9/11 attacks. The Information Guide and training programs have been researched and published by the APEC International Centre for Sustainable Tourism (AICST) in association with the United Nations World Tourism Organization, the Pacific Asia Travel Association and the Australian Government.

Available in five languages the APEC Tourism Risk Management Guide is designed to enable national and regional governments and tourism organisations to help tourism destinations and tourism related businesses to plan for and more effectively deal with crises when they strike.

AICST Chair, Sir Frank Moore, said the experiences of recent years, when thousands of lives, business and jobs were lost as a result of both natural and man-made disasters, have provided numerous lessons that the region must learn from.

"Nothing good comes from disasters such as tsunamis and bombings but we owe it to those who have suffered to learn from their experience to reduce harm in the future," Sir Frank said at the launch of the program on the Gold Coast today.

"When implemented within destinations and by both small and large tourism operators the Tourism Risk Management approach will help prevent business and job losses as well as reduce loss of life and injuries in the event of a disaster. The businesses that will benefit from the program include not only those directly servicing visitors, but also operations that provide supplies, support services and other inputs such as bakers, taxi drivers, printing companies and laundries.

The training programs include Instructor's Guides and Workshop Participant's Workbooks that are available for download or in printed form that cover issues such as developing risk assessment and management strategies before a disaster strikes, dealing with a disaster when it occurs and recovery after the threat has passed.

Sir Frank said it is important that tourism operators have an understanding of how risk management can improve their businesses.

"Planning for all eventualities is essential no matter if it is a disaster such as an act of nature or terrorist attack or a longer term crisis such as an avian influenza pandemic.

"This includes identifying opportunities to improve business planning and policies through to how to maintain contact with the media to provide essential information on tourism facilities and services.

"Importantly, in times of crisis both residents and visitors need firm leadership and direction and this requires adequate pre-planning."

The programs have been developed to be delivered as either a self-learning tool by business operators or as a clearly developed program for delivery to groups of tourism operators and government officials.

The guide provides a practical framework from which tourism operators can apply crisis management strategies for prevention, preparedness, response and recovery.

The program can be downloaded.



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The eighth meeting of APEC Energy Ministers, to be held in Darwin next week, will be an important opportunity for the regions' economies to focus on the key challenges of energy security and sustainability, the Chair of the meeting and Australia's Industry Minister, Hon. Ian Macfarlane MP, said today.

"APEC economies account for 60 per cent of the world's energy demand so this will be a crucial forum to discuss how we can work together to secure our energy long term," Mr. Macfarlane said.

"It is also an important opportunity for us to address environmental concerns and promote clean and efficient energy production and use.

"APEC will also be an opportunity work with economies in the region to improve the operation of energy markets, address impediments to energy investment and trade, and promote energy diversity and energy efficiency."

The eighth APEC Energy Ministers' Meeting will run from 27-30 May, with the theme of the meeting 'Achieving Energy Security and Sustainable Development through Efficiency, Conservation and Diversity'.

In addition to Ministerial meeting, a one-day Energy Business Forum will be held to provide an opportunity business and government representatives to discuss critical issues relating to energy policy development.

As the host of the eighth Energy Ministers' Meeting, Australia is the world's largest coal exporter, the world's second largest uranium exporter and a major gas exporter.

APEC is also home to the world's three largest energy producers and consumers - the United States, the People's Republic of China, and the Russian Federation.



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Issued by the 8th Meeting of APEC Energy Ministers

Energy sector business leaders, ministers from APEC Member Economies and representatives of non-government organizations are taking part in the APEC Energy Business Forum today as part of the Eight APEC Energy Ministers' Meeting.

In his address to the APEC Energy Business Forum, the Chairman of Shell Australia, Mr. Russell Caplan, highlighted the importance of dialogue involving all stakeholders to manage energy related issues for the future.

"As energy demand grows, so too will the associated emissions, the International Energy Agency's scenarios say CO2 emissions will grow between 35 and 55% in the period to 2030," Mr. Caplan said in his opening address to the forum.

"Today's Forum is a chance for us to develop our thinking in this direction. Thinking that takes account of the regional and indeed global view.

"I believe we're now beyond debating the scientific links between CO2 emissions and climate change - it's now time for action. The question is what sort of action, by whom and by when.

Mr. Caplan said it was his opinion that market mechanisms are likely to be the most effective means of implementing change.

"Capping of carbon emissions and trading of credits, such as has occurred under the EU emissions trading scheme since 2005, is a good start. But trading needs to become global to be truly effective and establish a clear market price for CO2 that will be factored in to the investment evaluations on the new technologies and energy conservation measures we need for a lower carbon future."

The Chair of the APEC Energy Ministers' Meeting and Australia's Minister for Industry, Tourism & Resources, Ian Macfarlane, highlighted the importance of discussion taking place at the forum and important role that business plays in the APEC energy sector.

"We need to engage business," Mr Macfarlane said.

"Recommendations arising from the Energy Business Forum will be presented to the meeting of Ministers and delegates on Tuesday so they will have a direct input into the APEC process."

Mr. Macfarlane said the meeting of Energy Ministers would discuss a range of issues such as reducing impediments to energy investment and trade, and promoting energy diversity, efficiency and cleaner energy technologies.

"We will look at how developed and developing countries can meet growing energy demands and secure the supplies of energy they require in a sustainable manner," Mr. Macfarlane said.

Energy Ministers will meet in two plenary sessions tomorrow and visit the ConocoPhillips LNG plant on Wednesday.

The full speech by Mr. Caplan is available for download.



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After two days of meetings, the eighth APEC Energy Ministers' Meeting in Darwin has concluded with the release of the 'Darwin Declaration', recognising the need to deploy cleaner, more efficient and sustainable energy technologies.

"This is a landmark achievement for the APEC member economies," Australian Industry Minister and Chair of the meeting, Ian Macfarlane, said.

"Energy Ministers from across the 21 economies have agreed to a number of ways forward to achieve energy security and sustainable development.

"The decisions and deliberations we have had, particularly in relation to clean development and climate, will be an integral part of broader considerations undertaken by APEC Leaders when they meet in Sydney in September 2007.

"The future prosperity of the APEC region relies on securing energy supplies, and on clean and efficient energy production and use."

Key outcomes featured an agreement to improve energy efficiency through a range of measures, including the establishment of an Energy Investment & Trade Study and Roundtable, and a voluntary APEC Energy Peer Review Mechanism to improve the operations of energy markets.

"The voluntary Peer Review will focus on assisting APEC economies to increase their energy efficiency and reduce their dependence on oil," Mr. Macfarlane said.

"This will support the twin objectives of energy security and environmental sustainability and highlights the fact that while energy is paramount to APEC, environmental sustainability is also a key concern of member economies."

The Declaration looks at emergency preparedness to ensure our APEC economies manage the consequences of short-term supply disruptions, improving oil data sharing and cooperation with other international energy organisations.

It also looked at developing best practice towards energy efficient transportation, intensifying efforts to develop and deploy techniques for the cost-effective use of non-food feedstocks and encouraged international collaboration on alternative fuels.

A copy of the Darwin Declaration can be found here.



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The APEC Business Advisory Council (ABAC) has concluded its Second Meeting for 2007 in Tokyo with key discussions focusing on consideration of steps to advance regional economic integration in Asia Pacific, addressing climate change and the need for enhanced energy security.

"Business leaders from Asia Pacific continue to press for a successful outcome from the Doha trade negotiations, despite frustration with the delayed process and its lost opportunities," said Mark Johnson, Chair of ABAC 2007.

"APEC continues to be the fastest growing part of the world economy, so it is no surprise that regional integration initiatives and measures continue to develop."

"The up-coming report by APEC Senior Officials to APEC Leaders will cover a wide range of near term and longer term initiatives."

"ABAC shares the global concern on the effects of climate change on our communities and businesses. Business will respond to this challenge with innovation, new business practices and capital investment if it has clear settings and market signals from policy makers. We expect climate change will be an important feature of our dialogue with Leaders in September." said Mr Johnson.

"ABAC recognizes that key aspects of improved energy security include conservation and efficiency measures. The experience of Japan in promoting energy efficiencies over many years is a valuable lesson for us to draw on. It demonstrates the importance for business of the right balance in policy and regulatory measures in each economy. Energy security continues to be a major matter for ABAC."

ABAC comprises three senior business representatives from each of the 21 APEC economies and will be meeting again in Sydney in September 2007, during the APEC Leaders Meeting.

ABAC will be meeting directly with APEC Leaders during a dialogue session on 8th September and will address a range of issues that impact on businesses in the region.



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The APEC Health Task Force (HTF) has held two days of meetings in the lead-up to the Second APEC Health Ministers Meeting on June 7-8.

The HTF considered a number of initiatives to increase cooperation between APEC Member Economies for dealing with health-related threats and their impact on economies, trade and security in the Asia-Pacific Region. The meeting included the review of APEC projects designed to help economies to improve capacity in areas such as the prevention and response to potential avian and influenza pandemics; pandemic risk communications; and multi-sectoral collaboration to ensure functioning economies in times of a pandemic. Member economies also considered the need to make better use of technological advances relevant to the delivery of health care, and the adoption of effective workplace practices for people living with HIV-AIDS.

The Chair of the HTF meeting, Ms. Bersabel Ephrem, said the work of the HTF provides a unique opportunity to deal with some of the major health challenges currently faced by the APEC Region in a world where globalization and economic integration and movement of people and goods delivers both benefits and increased potential for the spread of infectious disease.

"Health issues have major implications for the future prosperity of the Asia-Pacific region," Ms. Ephrem said at the conclusion of the HTF meeting.

"Efforts to deal with the potential of an avian influenza pandemic, the ongoing threat posed by HIV/AIDS and a number of other cross-border health issues must be managed at a regional level to be effective.

"APEC is working to ensure that there is coordination between governments, the private sector and other stakeholders firstly to prepare for crises, then to ensure a rapid economic and social recovery after the crisis has passed."

At the meeting in Sydney, the HTF is also finalizing details for its transition from a Task Force into a formal APEC Working Group as was approved recently by APEC Senior Officials.

"The transition of the HTF into the APEC Health Working Group will provide a permanent forum for APEC to coordinate ongoing efforts to strengthen regional health security," Ms. Ephrem said.

The HTF was created in 2003 in recognition that health is critical to economic and trade development in the Region. The Task Force provides a unique forum to discuss challenges and solutions for mitigating the negative effects of public health emergencies, and addressing emerging public health issues, with a focus on building capacity, and enhancing APEC co-operation for preparing and response.

APEC Health Officials are meeting in the afternoon followed by a welcome reception for APEC Health Ministers before they begin two days of meetings on June 7-8.



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The APEC Health Ministers' Meeting concluded today with APEC's 21 Member Economies agreeing that any threat to the health of a population can have a devastating effect on prosperity.

Downloads Available:

News Conference Audio and Photographs 

Health Ministers Meeting Outcomes Statement

Chair of the APEC Health Ministers' Meeting and Australia's Minister for Health, Hon. Tony Abbott MHR, said events since the first APEC Health Ministers Meeting in 2003 have shown the consequences that outbreaks of infectious disease, especially zoonotic diseases such as avian influenza, can have on growing economies.

"The impact is greater when diseases strike at those in their most productive years," Mr. Abbott said.

"We have also learnt that the climate of fear that disease outbreaks such as avian influenza bring can rapidly sap the confidence and enterprise that underpins the economic dynamism of our region.

"Member Economies have shared their considerable experiences and knowledge in pandemic disease preparedness and have endorsed the APEC Functioning Economies in times of Pandemic Guidelines, a resource to assist in improving regional capacity for emergency management."

The Guidelines cover planning and preparedness, communications and information, essential services and vital supplies, financial systems and movement between and within economies. The Guidelines provide a comprehensive approach to manage and support APEC Economies and their business sectors in times of pandemic, encouraging investor and consumer confidence and economic and community recovery and growth in the post pandemic phase.



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APEC and the OECD furthered cooperation in efforts to help SMEs increase access to the global marketplace through a new report released at an OECD conference this week in Japan.

The OECD Global Conference on "Enhancing the Role of SMEs in Global Value Chains" featured input from joint OECD-APEC surveys and an interactive session with the APEC Secretariat Deputy Executive Director, Ambassador Juan Carlos Capuñay.

Discussion at the conference drew from APEC's experience in seeking to improve operating conditions and increase market access for SMEs.

"Small business forms the economic backbone of the APEC region," Ambassador Capuñay said at the meeting.

"Recent data indicates that SMEs account for over 98% of all enterprises and employ as much as 60% of the work force in the APEC region.

"However, SMEs still only account for about 30-35% of exports.

"Despite the number of small businesses in the region, our research has found that many SMEs feel that their full participation in the global economy is undermined by a number of internal and external factors.

These include the lack of internal resources and skill capacity and the experience to exploit foreign business opportunities such as is involved with dealing with middlemen and distribution channels."

Ambassador Capuñay said that through a range of forums, such as the recent APEC SME Ministers Meeting in Hobart, APEC has launched a range of initiatives covering a number of sectors that are helping to create opportunities for smaller businesses.

"APEC has an ongoing commitment to create an environment conducive to the development of SMEs and to help them gain access to international markets.

"This includes work to improve legal and policy frameworks, macro-economic infrastructure and tackling all other "behind-the-border" problems such as red tape.

APEC is also helping to build conditions for SME activities through diverse programs of human resources development, financing, capacity-building and technical assistance."

Ambassador Capuñay welcomed the opportunity to share details of APEC's experience with the OECD forum.

"APEC and the OECD have a strong working relationship in areas such as our interaction with SMEs. This joint APEC-OECD report and the conference that we have just attended will serve to enhance the number of opportunities that both organizations have available to use their strengths for the betterment of the region.

The conference took place in Tokyo on May 29-June 1.



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Business logistics and security experts from across the Asia-Pacific will come together in Sydney for a major conference on supply chain security on 27-28 June, the Australian Government Minister for Trade, Warren Truss, said today.

Mr. Truss said that the Fifth Secure Trade in the APEC Region (STAR V) conference, which is being held as part of Australia's hosting of APEC in 2007, will explore cost-effective solutions to enhance the safe and secure movement of people and trade in the region.

"The costs of any disruption due to a terrorist attack to the supply chain or the movement of people in the region could be significant - both in human and economic terms," Mr Truss said.

"Designing measures to address these threats is essential. We must take into account the costs to business and our broader objective of facilitating trade in the region. The STAR V is an important vehicle for business input," he said.

The STAR conferences were instigated in 2002 at the APEC Leaders' Meeting in Mexico - principally to focus on policies and procedures to enhance security and efficiency in the region's airports and seaports. To date, conferences have been held in Thailand, Chile, Korea and Viet Nam.

Mr. Truss said APEC members account for nine out of the world's top 10 seaports by cargo volume, 24 of the top 30 airports for passenger traffic, and 22 of the top 30 airports by cargo volume.

"The conference provides an interface between Government agencies and business on issues and concerns relevant to supply chain security in the APEC region and form a key part of APEC's anti-terrorism agenda," he said.\

The theme of the STAR V conference is "Mitigating Risks; Containing Costs", with two main streams: supply chain security and identity security.

More than 40 speakers will address issues including:

Latest tools and technology in security;

Effectiveness and scope for public-private sector partnerships;

Improving policy and procedures; and

Future directions for the security of trade.

The conference will be chaired by Mike Smith, Australia's Ambassador for Counter-Terrorism. John Merkovsky, Managing Director and Global Leader, Risk Consulting of insurance giant Marsh Inc, of Marsh and McLennan Companies Inc, New York will give the keynote address at the conference dinner.



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