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The APEC Business Advisory Council (ABAC), the private sector arm of the Asia-Pacific Economic Cooperation forum (APEC), just completed its third meeting of 2002 in Hong Kong, China, 7-10 August. During their deliberations, ABAC members expressed their concern about current economic instability in several regions of the world and about other threats to global economic health. However, they also asserted their strong belief that it is only through APEC members' continuing liberalization of trade and investment that development and prosperity can be shared throughout the APEC region.

This was the third ABAC meeting of APEC's Mexico Year, during which Mexico hosts the meeting of APEC Economic Leaders in Los Cabos, Baja California Sur in late October. ABAC's theme for this year is "Sharing Development to Reinforce Global Security". During the course of their meeting in Hong Kong, ABAC Members met with government and business leaders of Hong Kong, including with the Chief Executive, the Financial Secretary, and the Secretary for Commerce, Industry and Technology.

In a dinner for ABAC members at Government House, Hong Kong, China Chief Executive Tung Chee Hwa asserted, "All of APEC's achievements would not have been possible without ABAC's advice."

In conjunction with the ABAC meeting, ABAC Members also participated in a business Conference on "SMEs: Growth Engines of World Trade" organized by the Hong Kong Trade Development Council. Hong Kong's three ABAC members, Dr. Victor Fung, Mr. Peter Woo, and Sir Gordon Wu chaired the individual sessions of the conference.

ABAC comprises up to three senior business representatives from each of APEC's 21 member economies appointed by their respective heads of economy to advise APEC Economic Leaders and Ministers on issues affecting business. The Council is chaired this year by Mr. Javier Prieto de la Fuente, Senior Vice President of External Affairs of the CEMEX Group. In remarks earlier in Hong Kong, Mr. Prieto asserted, "APEC is at the halfway point toward the Bogor goals. (APEC's Bogor goals call for free trade in the APEC region in developed members by 2010 and in developing ones by 2020.) During this meeting ABAC finalized the text of its Report to APEC Economic Leaders.

As in the past years, ABAC's Report to APEC Leaders will contain recommendations on ways to improve business and investment in the APEC region and to help ensure that all in the region enjoy the benefits of globalization. ABAC members will present ABAC's recommendations to APEC Economic Leaders when they meet them in Los Cabos, Baja California Sur, October 26-27.

At its Hong Kong meeting, ABAC refined its recommendations through working groups in technology, finance, business facilitation, small and medium enterprises, and in monitoring APEC's Individual Action Plans (IAPs) (These IAPs detail how each APEC member plans to meet the liberalization goals agreed to by APEC Leaders to established free trade in APEC economies by the 2010/2020 deadlines.)

During its deliberations this year, two themes cut across the discussions of nearly all of the working groups. The first was the need to craft responses to the Leaders calls at their meeting last October in Shanghai to fight terrorism and to do so in a way which also addresses current threats to the world economy. Accordingly, ABAC has developed a range of recommendations to enhance security while simultaneously ensuring that APEC continues its work in facilitating trade and investment flows throughout the Asia-Pacific.

In the second theme, ABAC reviewed all the recommendations it has made to APEC Leaders. In ABAC's view, many recommendations have yet to be implemented by APEC. Throughout this year, ABAC has pressed APEC hard to implement those recommendations that can be accomplished or at least initiated this year. As part of this campaign, ABAC provided a pre-report to the APEC Ministers Responsible for Trade meeting in Mexico in late May as well as to other, later meetings of APEC Ministers. This paper has given APEC the opportunity to incorporate ABAC's views into the policy-making process prior to the October Leaders' Meeting itself, when ABAC presents its final Report to Leaders. ABAC expects to review the progress on the more than 20 specific recommendations established in this Pre-Report.

The ABAC working groups in Hong Kong worked on a variety of specific issues in several areas. In finance, the issues include strengthening the security of financial systems; responding to the withdrawal of insurance coverage in the wake of last year's terrorist attacks in the U.S.; improving mechanisms for sovereign debt restructuring and regional economic cooperation; financing small and medium enterprises; and improving corporate governance.

Recommendations of the technology group center on the use of technology to manage security demands; e-government; e-commerce; e-learning for human resource development; and biotechnology.

In business facilitation, work has focused on security and the movement of goods and people; APEC's Food System initiatives; standards, mutual recognition and conformance; judicial training; support for the Doha Development Round WTO Trade talks; and a proposal for a Trans-Pacific Multimodal Security System.

The SME group worked with other groups on recommendations for financing for SMEs as well as on micro-financing; creating an enabling environment for SME growth; establishing SME partnerships; and promoting SME access to technology.

Finally, the group monitoring APEC's Action Plans emphasized increasing APEC's responsiveness to earlier ABAC recommendations; confronting non-tariff measures and the misuse of anti-dumping measures; strengthening the enforcement of intellectual property protections; improving the electronic Action Plans of APEC members for business friendliness and as a tool for business; and urging APEC to engage in more dialogue and partnership with the private sector.

ABAC's 2001 Report to APEC Leaders is available on the ABAC and APEC websites:

http://abaconline.org and http://publications.apec.org

Additional background information about ABAC is already available at that site. To order a bound volume of the ABAC Report, contact Mr. Basilio as indicated below.

ABAC's 2002 Report to APEC Leaders will be released to the public in late September and will be available through the same means.



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The Asia-Pacific Economic Cooperation (APEC) forum today released two reports containing assessments of progress made by Mexico and Japan in meeting the target dates for "free and open trade and investment" set at 2010 for developed APEC member economies and 2020 for developing ones.

The two reports illustrate a newly strengthened peer review process designed to more rigorously examine the progress of individual APEC economies in achieving trade and investment liberalisation as set out in their Individual Action Plans
Annual Individual Action Plans (IAPs) were introduced by APEC in 1996 and represent the central means by which APEC economies work towards the 2010 and 2020 target dates for liberalisation - otherwise known as APEC's Bogor Goals. Individual Action Plans record unilateral actions taken by APEC economies to liberalise their trade and investment regimes and facilitate trade and investment in the region under 15 broad policy areas.

APEC Ministers agreed at the end of 2001 that the peer review process applied to IAPs needed strengthening to increase objectivity and transparency. New elements which have been introduced to strengthen the process include the appointment of a formal review team for each peer review exercise and the commissioning of an expert to conduct independent in-country research and analysis together with presentation of a written analytical report.

The involvement of the APEC Business Advisory Council (ABAC), an independent private sector advisory group established by APEC Leaders, in the peer review sessions is another important new element in the process. Mexico and Japan were the first economies that volunteered to be reviewed under the new review system.

"Reinforcement of the IAP Peer Review process has been a major achievement for APEC this year resulting in increased transparency and momentum for the liberalisation process within APEC" said Amb Alejandro de la Peña Navarrete, Executive Director of the APEC Secretariat. "As host of APEC for 2002, Mexico's priority has been on transforming words into actions and on the actual implementation of commitments. The strengthened IAP Peer Review process demonstrates APEC's determination to be action-oriented, results-focused and accountable".

The two study reports reviewing the liberalisation performance of Mexico and Japan were presented today at the Third APEC Senior Officials' Meeting taking place 20-21 August in Acapulco, Mexico.

Full transcripts of both reports are now available for viewing on the APEC Website:

Report of Japan's Individual Action Plan(IAP) Peer Review

Report of Mexico's Individual Action Plan(IAP) Peer Review



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The '2003 APEC Economic Outlook' Report forecasts that a rebound in the United States' economy "should provide enough sparks to boost economic growth in the APEC region."

However, despite projections of expected economic growth of 2.5 percent in 2003 and 3.5 percent in 2004, the report notes that a number of factors remain that will restrain brisk recovery.

This year's Economic Outlook Report, which is the ninth in the series produced by the APEC Economic Committee (APEC EC) also features information on the economic impact of SARS on the APEC region.

The report will now be presented to APEC Ministers on October 18 in Bangkok.

On its assessment of the economic outlook of the regional and global economy, the report forecasts that "a stronger recovery will finally get underway before the end of 2003 and then shift into a higher speed with sustainable strength next year."

With the SARS outbreak being brought under control and as the military situation in Iraq stabilizes, the report forecasts that the global economy will regain its strength gradually.

"The rapid end of the war in Iraq has already significantly improved the economic prospects of the United States, the Middle East and the rest of the world and has discouraged OPEC from pushing up oil prices.

"It is worth noting that the 25.0 percent post-Iraq decline in global oil prices by itself is a major boost to consumer discretionary income and business profits. The favorable outcome of the Iraq war has also reduced the geopolitical uncertainties that have been depressing consumer and business confidence for the past two years."

The report also notes that disinflation is likely to continue in the near future.

"Inflation is generally low or decreasing in core terms. Although US inflation has tended to pick up a little, reflecting rising energy prices and stronger import prices resulting from a weaker dollar, it will remain moderate.

"As higher energy prices unwind, inflation should slow, consistent with the negative output gap prevailing over the entire projection period."

While the 2003 Economic Outlook Report forecasts a US-led rebound over this year and the next, momentum will depend on how far major economies alleviate a series of potential problems.

These include a major cyclical risk that private consumption could wane before investment recovers with the report stating that "As consumers in many economies are saddled with heavy debts, business spending in this cycle is not expected to grow as briskly as in the previous business cycles."

The report also warns that already-swollen fiscal deficits in major economies will result in "little room for maneuver left to increase discretionary public expenditure to stimulate domestic economies."

Diverging external imbalances and the exchange-rate adjustment process for major economies is another concern noted in the APEC EC Report.

In particular the report notes "the large current account deficit in the United States continues to rise and is set to widen to 5.5 percent of GDP by 2004. In contrast, Japan's current account surplus is expected to widen to 3.9 percent of GDP in 2004 from 2.1 percent in 2001."

Finally, the report notes that geopolitical tension remains a latent source of major risk to future economic recovery.

"Although the military conflict in Iraq has largely abated, the international community may face new regional uncertainties from the Arab-Israeli conflict and the North Korean nuclear crisis.

"In particular, the deterioration of the nuclear issue and geopolitical instability in the Northeast Asia might have a negative effect on the international financial flows and external trade of the economies in the region."

The SARS epidemic is cited by the report as having "had a serious, but not overwhelming, economic impact on the APEC region.

"The economic cost has been estimated to be in the range 0.5 percent to 1.0 percent of annual GDP growth for many of the economies of the APEC region."

The report breaks down the economic consequences of SARS into the "direct impacts" that are yet to be well documented and "indirect impacts" on areas such as tourism and hospitality.

"The direct impacts include lost output and productive time of the stricken, as well as the health care and crisis management costs.

"The indirect effects include those that resulted from public behavioral changes resulting from the outbreak and the public's perception of it."

The "2003 APEC Economic Outlook" report will be posted on the APEC Secretariat Website after it has been officially presented to APEC Ministers on October 18. 



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The 2002 APEC Economic Outlook report will be presented to Leaders and Ministers of the 21 APEC member economies in Mexico next week. The report details a positive economic outlook for the Asia-Pacific region in the year ahead but warns of potential economic trouble spots.

The main potential impediments to anticipated growth are identified as the impact on financial markets by exchange rate volatility, poor corporate profits and accounting scandals, the potential of rising oil prices and widening external balances.

While the report acknowledges that these threats are minimal, Chair of the APEC Economic Committee, Dr Ahn Choong-Young, warns that "next year's period of APEC led growth is also a time for caution and vigilance."

"The medium term future of the Asia-Pacific region shows signs of an economic recovery," Dr Ahn said.

"So long as programmes aimed at strengthening connections between regional economies continue, the environment for job creation and rising living standards appears strong."

The APEC Ministerial Meeting will be held 23-24 October and the APEC Leader's Meeting takes place 26-27 October in Los Cabos, Mexico.

Other reports to be released by the APEC Economic Committee are "The New Economy in APEC" and "The Benefits of Trade and Investment Liberalization and Facilitation in APEC." Full copies of all reports will be available at the Los Cabos meetings or may be obtained from the APEC Secretariat in Singapore.



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In preparation for the APEC Leaders' Meeting on 26-27 October, the APEC Secretariat has completed a report on the implementation of counter-terrorism measures during 2002 by all members of the Asia Pacific Economic Cooperation forum.

Under the title "APEC Secretariat Final Report on Implementation of the Leaders' Statement on Counter-terrorism," the report details efforts made by all 21 APEC member economies to achieve the objectives laid out by APEC Leaders during their 2001 meeting held in Shanghai.

Executive Director of the APEC Secretariat, Ambassador Alejandro de la Peña, said the Counter-terrorism Implementation Report is part of a concrete response to a critical issue for the Asia-Pacific region.

"At APEC we have set the twin goals of enhancing security against terrorist threats together with the continued facilitation of the movement of goods, capital and people within the region," said Ambassador de la Peña.

The framework of APEC cooperation provides a strong basis from which to achieve our twin goals.

The recent terrorist bombing in Bali, the September-11 attacks and other terrorist incidents are a direct challenge to the APEC's vision of free, open and prosperous economies.

Last year the Leaders of APEC economies vowed to strengthen international cooperation to combat terrorism.

Then earlier this year Telecommunications Ministers from APEC economies endorsed a programme of action to combat the use of information and communications systems for terrorist and criminal activities as part of the APEC Cyber Security Strategy.

At the APEC Finance Ministers' meeting in Mexico an action plan on 'Combating the Financing of Terrorism' was adopted to counter the networks that fund terrorist activities.

"Now the APEC counter-terrorism implementation report further outlines the steps taken by APEC fora and each member economy in combating terrorist networks and protecting the economic security of our region."

The APEC report on implementation of the Leaders' Statement on Counter-terrorism outlines six specific areas in which member economies have pledged to intensify counter-terrorism measures:

Suppression of Terrorist Financing

Enhanced Aviation and Maritime Safety

Energy Security

Telecommunications, Information and Other Critical Sector Protection

Customs Procedures

Border Security

Full copies of the "APEC Secretariat Final Report on Implementation of the Leaders' Statement on Counter-terrorism" will be available at the Los Cabos Meetings or may be obtained from the APEC Secretariat in Singapore.



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The '2002 APEC Committee on Trade and Investment Annual Report' will be presented to Ministers and Leaders of the 21-member Asia Pacific Economic Cooperation forum in Los Cabos, Mexico next week.

The annual report presents Ministers with an outline of accomplishments and recommendations designed to improve trade and investment between APEC economies.

Chair of the APEC Committee on Trade and Investment, Ms Ng Kim Neo, said an important issue in this year's report is the reduction of transaction costs to businesses involved in cross-border trade.

"An important part of realizing the APEC goal of creating the world's largest free trade and investment area by the years 2010 for industrialized APEC economies and 2020 for developing ones, is the reduction of transaction costs and red tape," said Ms. Ng.

"The Committee on Trade and Investment has laid out a number of recommendations such as increased transparency in the trade and investment policies of APEC economies".

"Increased transparency of policies and procedures between economies enables a healthier economic environment where the business sector can plan with greater certainty and predictability in cross-border trading activities."

The APEC Ministerial Meeting will be held 23-24 October and the APEC Leader's Meeting takes place 26-27 October in Los Cabos, Mexico.

Full copies of the "2002 APEC Committee on Trade and Investment Report to Ministers" will be available at the Los Cabos meetings or may be obtained from the APEC Secretariat in Singapore.



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The 2002 APEC Senior Officials' Report on Economic and Technical Cooperation (ECOTECH) is being presented to Ministers and Leaders of the Asia-Pacific Economic Cooperation forum in Los Cabos, Mexico this week.

The ECOTECH agenda is the body of projects and cooperative APEC activities created to encourage sustainable growth and equitable development, while reducing economic disparities among APEC economies.

This year's report identifies an increase in the proportion of projects devoted to building the skills of people in APEC economies.

Chair of APEC's ECOTECH Sub-Committee, Ambassador Elard Escala, said that over the past year 60% of the total of 128 ECOTECH projects were focused on the theme of 'developing human capital'.

"The challenge for ECOTECH over the past year has been to implement projects that enable people to have access to information, education and training," Ambassador Escala, said.

These human capacity projects empower people to take full advantage of the New Economy and to contribute more effectively in forums such as the WTO.

"For example, the APEC Human Capacity Building Promotion Program provides free online training for 1,500 senior IT professionals. The program provides a virtual classroom to support e-Learning in the Asia-Pacific region also has a cyber forum so as to encourage the involvement and feedback of all stakeholders."

"The APEC Education Foundation and the related Consortium for APEC Cyber Education Cooperation offer further opportunities for the advancement of cooperation in education and human capacity building efforts."

Ambassador Escala described 'Teleworking' as another area that APEC has focused on to achieve ECOTECH goals.

Through information sharing and the development of best practices models, traditionally disadvantaged groups such as women organizations, have greater avenues for seeking employment.

While the IT revolution offers opportunities for people with disabilities to overcome some physical limitations it can also amplify and compound their disabilities.

In order to ensure that people with disabilities, particularly youth, are not left behind or overlooked in today's IT-based society, an 'APEC Information and Technology Camp for Youth with Disabilities' was held in Seoul, Korea, in August 2002.

"Through these and any new priority areas that may be identified by APEC Ministers and Leaders at their meetings this week we will continue to make ECOTECH deliver real benefits and to make a real difference to the people of our communities."



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The '2002 APEC Economic Outlook' report predicts that APEC economies are expected to lead a global economic recovery in the coming twelve months.

Presented to Leaders and Ministers of the 21 APEC member economies meeting in Los Cabos, Mexico this week, the report also warns that regional economies must be on guard against potential economic spoilers.

Chair of the APEC Economic Committee, Dr AHN Choong-Young, has warned that the fallout from accounting scandals mixed with poor corporate profits, the potential of rising oil prices and widening external balances have the potential of hampering APEC led economic growth.

Dr Ahn said the report concludes that continuing programmes of economic structural reform are crucial to maintain an environment favourable to economic recovery and job creation.

"As a whole the APEC economy is expected to grow by over 3 percent for the year 2002 and 4 percent in 2003. This is a substantial increase from the growth rate of 0.5 percent in 2001," said Dr Ahn.

However, this is also a time when regional economies must be on guard against potential short-run risk factors.

Poor corporate profits combined with corporate accounting scandals and their implications for world financial markets have the potential to cause harm.

"However it must be noted that despite the series of corporate scandals over past months, confidence in the U.S. financial markets has been maintained."

Dr Ahn said while the possibility of rising oil prices is not a new concern for the global economy it has the potential to be an impediment to growth.

"Despite the fall in overall commodity prices last year, since early 2002 oil prices have risen slightly due to increased demand and political anxiety in the Middle East," said Dr Ahn.

"While greater demand caused by economic growth will continue to place upward pressure on oil prices, it is anticipated the average price will remain at around US$25 per barrel. The potential for heightened tensions in the Middle East over a prolonged period has the potential to contribute to further increases in the price of oil."

The report notes that a further area of potential concern over the coming year is the apparent widening of external imbalances in major APEC economies.

"In 2001 member economies in the Western Hemisphere and Oceania, with the exception of Canada, have registered rising current account deficits while all member economies in Asia recorded large surpluses," said Dr Ahn.

"This imbalance has been led by a reduction in demand for high-end technology exports from the United States while at the same time demand for electronic appliances and machinery principally from Asian economies has increased."

The 2002 Economic Outlook concludes that in order to ensure sustained economic growth over the medium-term, APEC members are advised to continue with structural reforms to improve the efficiency of their own economic systems.

"Attention to structural issues such as improvements in corporate accounting and auditing procedures are very important," said Dr Ahn.

While enhancing the transparency of corporate management and governance are vital to ensure economic growth in the following year.

Despite the downturn in 2001 and the shocks of the terrorist attacks, the global economy will show strong signs of recovery over the following twelve months.

"APEC economies will be at the forefront of this global recovery."

To download a copy of the 2002 APEC Economic Outlook, please visit http://publications.apec.org/publication-detail.php?pub_id=511

Other reports to be released by the APEC Economic Committee are 'The New Economy in APEC' and 'The Benefits of Trade and Investment Liberalization and Facilitation in APEC.' Full copies of all reports will be available at the Los Cabos Meetings or may be downloaded from the APEC Publications database http://publications.apec.org



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Issued by APEC Secretariat

The value of service industries is often underrated at a political level according to a new report published by APEC. The report also notes that the definition of service industry has become blurred as service providers become increasingly interconnected with goods sectors in order to remain competitive.

The 2002 report on 'The New Economy in APEC: Innovations, Digital Divide and Policy,' is being presented to Ministers and Leaders from APEC's 21 member economies in Los Cabos, Mexico this week.

Dr. AHN Choong Yong, the Chair of the APEC Economic Committee, said the importance of service industries to regional economies is increasing.

"Service industries account for more than 50 per cent of combined APEC GDP," said Dr. Ahn.

The major driver of the growth in services trade has been information and communications technology.

In the modern economy services such as banking and programming can be delivered to customers anywhere in the world in a matter of seconds.

Technology is truly creating a borderless economy for many services.

However, despite the importance of service industries to regional economies, manufacturing still appears to attract most of the attention when it comes to designing tax, trade and support policies.

"While this disproportionate support away from services has not caused the sector to stagnate, it has undermined the potential contribution of the service sector the regional economy."

Dr. Ahn said one of the most serious deficiencies in evaluating the value of the services sector is the collection of data.

"Because of the diverse ways in which services are 'exported,' often not passing through customs points, figures representing trade in service industries are almost certainly under-estimates," said Dr. Ahn.

For example, an accounting firm setting up an affiliate in a foreign economy would probably be recorded as 'foreign direct investment' rather than as an export and import of accounting services.

We have noted deficiencies in the collection of data relating to the services sector when compared to the manufacturing, agriculture and resources sectors.

"One of the reasons for the inadequacies of data collection is that the traditional boundaries between services and other sectors has become blurred."

Dr. Ahn said that as competition causes businesses become increasingly interconnected, service industries are incorporating goods from other sectors to add value to their own products.

"One of the most obvious examples are service providers such as cellular telephone companies who also give away mobile phone handsets in order to sell a telephone service," said Dr. Ahn.

"These new product-service linkages may necessitate a change in the way statisticians and policymakers calculate productivity in an economy."



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adopted in Shanghai, 21 October 2001, Leaders acknowledged the need to immediately combat by all means, threats to international peace, security and economic sustainability of the region caused by terrorist acts.

The declaration includes:

Recognition of the threats posed by terrorist activities and reaffirmation of support for regional counter-terrorism efforts.

Condemnation of recent terrorist acts in the APEC region, especially in Indonesia, the Philippines and the Russian Federation.

Expression of deepest sympathy and condolences to the victims and their families and to the Peoples and the Governments of Indonesia, Australia, the Philippines, and the Russian Federation and other economies.

Commendation of the determination by the Governments of Indonesia, the Philippines, and the Russian Federation to bring terrorists to justice.

Welcoming the adoption of the UN Security Council Resolution 1440, 1438 and 1373.

Encouraging joint efforts of APEC economies in mitigating the adverse impact of terrorist attacks in the affected economies.

2. APEC Leaders' Statement On Fighting Terrorism And Promoting Growth

Enhancing Secure Trade in the APEC Region (STAR) Initiative 
The STAR initiative will provide a forum for promoting the implementation of measures proposed by international organizations committed to countering terrorism and promoting economic development. Leaders have agreed to work together to secure the flow of goods and people through measures to protect cargo, ships engaged in international voyages, international aviation and people in transit.

Halting Terrorist Financing 
Following from the approach adopted by Finance Ministers in September, APEC Leaders have agreed to enhance practical efforts to prevent terrorists and their organizations from transferring and accessing funding. These measures include fully implementing U.N. and other international instruments, promoting better monitoring of alternative remittance systems and non-profit organizations and enhancing law enforcement and regulatory capabilities.

Promoting Cyber Security 
With citizens of APEC economies accounting for over half of the world's Internet users, APEC Leaders have agreed to commit to endeavor to enact comprehensive cybercrime laws and develop closer law enforcement communication and cooperation.

Implementation and Capacity Building 
Leaders commit to work cooperatively to build capacity throughout the region so that all economies can benefit from the resulting gains in security and prosperity. This will include building on the considerable counter-terrorism-related training and other assistance already being undertaken in the APEC region.

Both statements are available on the APEC Secretariat website at: 
http://www.apecsec.org.sg/download/pubs/LeadersStmtRecentTerror.pdf
http://www.apecsec.org.sg/download/pubs/LeadersStmtFightTerroNGrowth.pdf



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Issued by APEC Secretariat

The 2002 APEC 'Committee on Trade and Investment Annual Report' has been presented to Ministers and Leaders from APEC's 21 member economies in Los Cabos, Mexico.

This annual report outlines the CTI's accomplishments and recommendations on APEC's trade and investment liberalization and facilitation agenda.

Chair of the committee, Ms. Ng Kim Neo, said the CTI had been focused over the past year on implementing the instructions laid down by APEC Leaders in Shanghai last October.

"A key deliverable this year was the development of an APEC Trade Facilitation Action Plan," said Ms. Ng.

The APEC Trade Facilitation Action Plan outlines what all APEC economies and fora are doing or will do in the future to promote the benefits of trade facilitation.

The current objective is to reduce business transaction costs by 5% across the APEC region over the next five years.

The CTI is working in close consultation with the private sector to achieve this 5% reduction in transaction costs. Together we have drawn up a menu of concrete actions and measures that will support an increasingly streamlined, smooth and rapid movement of goods and business people across borders.

"Adoption of this menu of actions will serve to facilitate more efficient business transactions with minimal impediments."

Ms. Ng said some of the measures outlined in the menu draw from the initiatives developed for APEC counter-terrorism activities.

"APEC is committed to the twin counter-terrorism goals of protection of people and economies while at the same time facilitating trade flows," said Ms. Ng.

The measures the CTI has recommended include appropriate techniques to process goods at the border so that potentially harmful cargo is detected, while the movement of legitimate goods can continue.

"This detection process involves the implementation of systems that properly scrutinize high-risk goods while facilitating the movement of low-risk goods."

Ms. Ng said the ultimate winner of the initiatives developed by the CTI are the people of the Asia-Pacific region.

Reducing the costs to trading across borders makes it easier for businesses, particularly the small and medium-sized enterprises, to plan and compete in an open market. A reduction in the impediments to business stimulates greater trade flows and creates growth and employment in the economy.

"It is important that CTI maintains this focus on encouraging an environment that is conducive to greater economic cooperation and making business less complicated."

A full copy of the "2002 APEC Committee on Trade and Investment Report to Ministers" is available on the APEC Secretariat Website at: http://publications.apec.org/publication-detail.php?pub_id=514



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The "APEC Secretariat Final Report on Implementation of the Leaders' Statement on Counter-terrorism" has been presented to the APEC Leaders meeting currently underway in Los Cabos.

The report details efforts made by all 21 APEC member economies to achieve the objectives laid out by APEC Leaders during their 2001 meeting held in Shanghai.

In response to the September 11 attacks and recent terrorist attacks in the region, APEC is pursuing the twin goals of enhancing security against terrorist threats together with the continued facilitation of the movement of goods, capital and people within the region.

The APEC report outlines six specific areas in which member economies have pledged to intensify counter-terrorism measures:

Suppression of Terrorist Financing

Enhanced Aviation and Maritime Safety

Energy Security

Telecommunications, Information and Other Critical Sector Protection

Customs Procedures

Border Security



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Singapore, 26 October 2002

Issued by APEC Secretariat

A new APEC study has found that reducing unnecessary cross-border administrative costs is becoming more and more important in expanding regional trade.

The study reveals that if APEC economies were to reduce transaction costs by 5% over the next five years, APEC's total GDP would be likely to increase by nearly 1%.

The 'Benefits of Trade and Investment Liberalization and Facilitation (TILF) in APEC' report highlights the cost to regional business imposed by extraneous customs procedures, incompatible industry standards and impediments on the mobility of business people.

Compiled over a two-year period, the report is being presented to Ministers and Leaders from APEC's 21 economies who are meeting this week in Los Cabos, Mexico.

Dr. Ahn Choong Yong, Chair of the APEC Economic Committee, said that as traditional trade barriers are reduced, facilitating the removal of administrative impediments both to trade and trade facilitation and liberalisation takes on greater importance.

"While the reduction of tariffs in the Asia-Pacific region has been significant in recent years, the results of trade facilitation appear to be increasingly important in the region and are mutually reinforcing each other" Dr. Ahn said.

"Reducing red tape will further open trade between our economies and make it more cost-effective for small and medium enterprises to trade across borders."

On the issue of customs procedures Dr. Ahn said there was a balancing act required between cutting red tap and ensuring legitimate social protections were maintained.

We must seek ways to reduce inefficiencies that needlessly slow down the movement of goods, services and people across our borders. At the same time we must recognize and respect the regulations that are in place to protect the social health of regional economies and people.

"Increased trade facilitation will bring about closer communication and the development of consistency of customs procedures between economies. Improved trade facilitation will reduce the time it takes to move a product from the factory in one economy to the marketplace in another."

The area of standards and product certification has also been highlighted as a problem for regional businesses wishing to trade beyond their own economic borders.

"Creating common standards and certification criteria will further reduce the red tape of trading between economies," Dr. Ahn said.

In doing so it is hoped that once a product has been certified in one economy, that certification will be recognized in all APEC economies.

"Delays in verification procedures create unnecessary delays for business and in the end wastes money that could be better used for reinvestment and creating new jobs."

The study also revealed immigration procedures for business people travelling between APEC economies added unnecessary delays and frustrations to conducting cross-border business.

Almost half of the business people consulted felt that inadequate travel documentation processes obstructed business mobility.

"Complex and time consuming application procedures for business visas, work permits and residency permits were also found to be major impediments to business flexibility."

Dr. Ahn said the net benefit from breaking down barriers and impediments to trade would become apparent through closer communication and working relations between regional economies and the business community.

The TILF study was initiated at the request of Ministers and Leaders from APEC member economies. The study was also strongly endorsed by business leaders who wish to see APEC take a stronger role in promoting a more free and open business environment in the region.

"There are great opportunities for big, medium and small businesses in all APEC economies. Ultimately expanded trade will also create more jobs and ensure greater personal prosperity for the people who live in all APEC economies."



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Singapore, 19 November 2002

Issued by APEC Secretariat

The APEC Tourism Working Group (TWG) will discuss challenges facing the tourism industry when it meets in Hualien City, Chinese Taipei, from 19 - 23 November.

Chair of the APEC TWG, Juan Carlos Arnau of Mexico, said despite current pressure on the industry, tourism is one of the main engines for growth in the regional economy.

"Prior to 2001, travel in the APEC region accounted for more than 200 million jobs and was responsible for around US$2 trillion in travel related spending each year," Mr. Arnau said.

While it is too early to properly gauge the impact of the global economic downturn and terrorist attacks since September 11, we anticipate tourism in the APEC region still accounts for around one third of global expenditure for international travelers.

With a regional economic recovery predicted in the following year, we expect renewed strength will be experienced by the tourism industry.

"This meeting of the APEC TWG is particularly important as we will be presented with updates and proposals to meet our four key tourism policy goals."

The four policy goals are as follows:

Remove impediments to tourism business and investment. (Report to be presented by Thailand)

Increase mobility of visitors and demand for tourism goods and services in the APEC region. (Report to be presented by Canada)

Sustainably manage tourism outcomes and impacts (Report to be presented by Korea)

Enhance recognition and understanding of tourism as a vehicle for economic and social development (Report to be presented by Australia)

A more comprehensive breakdown of these goals is presented in the Seoul Declaration on APEC Tourism Charter and the 2002 APEC Tourism Ministerial Manzanillo Declaration: Implementing the APEC Vision.



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Singapore, 20 November 2002

Representatives from APEC member economies will meet at the Regent Hotel in Singapore on November 21-22 to identify priorities and obstacles for effective corporate restructuring and governance.

Chair of the APEC Economic Committee and President Korean Institute for International Economic Policy, Dr. Choong-Young Ahn, said improved corporate governance is crucial for the anticipated economic upswing in the region.

"Transparent and effective corporate governance are essential if the Asia-Pacific region is to achieve higher rates of economic growth in the coming years," said Dr. Ahn.

The high profile corporate scandals of this past year and the Asian currency crisis are examples of the harm caused by a lack of transparency in corporate governance.

Particularly for Asia effective corporate governance is required to insulate the banking sector from future potential economic shocks.

At this forum representatives of APEC economies will provide case studies of projects to restructure non-performing assets in their economies. These presentations will be made on November 21.

The second day of the conference, November 22, will be dedicated to guest speakers who will identify and provide brief analysis of the primary issues surrounding corporate restructuring.

"The forum will also launch a survey for distribution to the governments and the private sector in member economies. The survey is designed to identify impediments and issues relating to corporate restructuring."

This research project on corporate restructuring is an initiative of the United States' Government that was put to the APEC Economic Committee at its meeting in August.

Available for comment:

Dr. Stephen Blomberg and Peter Woodward, both from the Council of Economic Advisers, The White House, Washington DC, will be present during both days of the conference.

Dr. Choong-Young Ahn will speak at the forum between 4:30pm and 5:00pm, November 21

Venue: The Regent Hotel, 1 Cuscaden Road, Singapore. Telephone: +656733 8888



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Cebu, Philippines, 11 December 2002

Improving the quality and availability of electricity in the Philippines will be a central discussion issue when the APEC Energy Working Group (EWG) convenes an industry workshop in Cebu on December 12-13.

Lead Shepherd of the APEC EWG, Mr. John Ryan, said the "Strengthening Operational Aspects of APEC Energy Reform" workshop will look at ways to achieve sustainable pricing, improve customer service, promote efficiency, increase investment in the electricity supply industry and improve the security and reliability of the supply of electricity in the Asia-Pacific region.

"Sustainable prices, better customer service and more reliable access to electricity is central to achieving tangible economic development," Mr. Ryan said.

Enhanced access to electricity not only brings immediate quality of life and health benefits, but also results in improved access to education and job growth.

Schools are able to expand their teaching capacities while local businesses are able to increase their production and so employ more staff.

At the APEC EWG meeting in Cebu more than 100 delegates from across the APEC region and beyond will discuss options for improving the delivery of electricity in the region but with particular focus on the Philippines.

Issues to be discussed include improving operational performance, future industry structure, attracting finance and investment, setting the appropriate legal framework and managing the reform process.

From this workshop we hope to develop a series of policy options and possibilities for the Philippines and other APEC economies to implement for energy sector reform.

A lineup of around ten international delegates will make presentations to the workshop include senior officials from the public and private sectors.

A representative from the United States Federal Energy Regulatory Commission will address the workshop as will representatives from private sector energy generation companies.

The Secretary of the Philippines Department of energy, Vincent S Perez, will deliver the keynote address.

"Reform of the energy sector throughout our region is crucial if we are to meet APEC's long-term economic and community development goals."



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Singapore, 08 February 2001

Issued by APEC Secretariat

The first APEC meetings for 2001 are to be held this month in Beijing, People's Republic of China as follows. These will be the first of a series of meetings to be hosted by China during its term as APEC Chair for 2001.

APEC Senior Officials' Meeting (SOM 1)

The first APEC Senior Officials' Meeting for 2001 and associated meetings will be held in Beijing from 11-19 February 2001.

The first Senior Officials' Meeting (SOM I) on 12-13 February, provides overall coordination and direction. Its task is to implement the directions agreed by Leaders and Ministers in Brunei Darussalam in November 2000. The meeting will make recommendations to Foreign and Trade Ministers, and ultimately to APEC Leaders who will next meet in Shanghai in September 2001.

A Retreat for APEC Senior Officials will take place on Sunday, 11 February 2001, followed by the Senior Officials' Meeting from Monday 12 February to Tuesday 13 February 2001. Committee and sub-committee meetings associated with SOM I will follow from Wednesday 14 February through to Monday 19 February 2001.

APEC Senior Officials Meetings (SOM) are held regularly before every annual meeting of foreign and economic ministers. APEC Senior Officials make recommendations to Ministers and carry out their decisions. They oversee and coordinate, under ministerial direction, the budgets and work programmes of APEC.

China will be hosting the three formal Senior Officials' Meetings; SOM I in Beijing 11-19 February(as outlined above), SOM II in Shenzen 26 May-3 June, and SOM III in Dalian 16-24 August.

Further details may be found at: 
http://www.apec-china.org.cn/english/news/special.htm

APEC E-Commerce And Paperless Trading Symposium

An APEC Symposium on E-commerce and Paperless Trading is being held in Beijing 9-10 February 2001, immediately preceding the SOM I and associated meetings outlined above.



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Scottsdale, Arizona, United States, 15 February 2001

The APEC Business Advisory Council (ABAC), the private sector arm of the Asia-Pacific Economic Cooperation forum (APEC), will hold its first meeting of 2001 in Scottsdale, Arizona, February 15-17. ABAC will launch its work for the year under the theme: "Promoting Common Development through Capacity Building and Full Participation."

This will be the first ABAC meeting of APEC's China Year, when China will host the meeting of APEC Economic Leaders in Shanghai in October. In Scottsdale, ABAC members will have the opportunity to meet top leaders of government and business in the U.S. In conjunction with the ABAC meeting, the U.S. APEC Business Forum will be held on February 14. The Forum will feature a range of top corporate executives as well as include ABAC Members both as speakers and as participants.

ABAC comprises up to three senior business representatives from each of APEC's 21 member economies appointed by their respective heads of economy to advise APEC Economic Leaders and Ministers on issues affecting business. The Council is chaired this year by Mr. Qin Xiao, Vice Chairman - China International Trust and Investment Corporation. The Scottsdale meeting will lay out the agenda for ABAC's work program for the year and finalize the year's priorities. At this meeting, ABAC will be signing a joint statement of cooperation with GBDe (the Global Business Dialogue on e-Commerce) to work jointly on initiatives to promote e-commerce readiness."

As in past years, ABAC's work will culminate in a report containing recommendations on ways to improve business and investment in the APEC region and to help ensure that all in the region enjoy the benefits of globalization. ABAC's recommendations will be presented to APEC Economic Leaders by ABAC members when they meet in Shanghai, October 20-21.

Press Arrangements and Contacts

Mr. Qin and the Taskforce and Committee Chairs and co-Chairs will hold a press conference to report on the outcomes of the meeting at 12:30 p.m. Saturday, February 17 in Salon D and E of the Princess Conference Center at the Fairmont Scottsdale Princess, located at 7575 East Princess Drive, Scottsdale, Arizona (Tel: 480-585-4848; Fax: 480-585-0086). Representatives from print and electronic media outlets are invited to attend. In addition, television cameras will be allowed to film the opening moments of the first ABAC plenary session at 09:30 a.m. on Thursday, February 15 in the Fairmont Scottsdale Princess.

Requests for interviews with inpidual ABAC members may be directed to the contacts on page 2 below.

ABAC's 1999 Report to APEC Leaders is available on the ABAC and APEC websites: http://abaconline.org and http://www.apecsec.org.sg.



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Scottsdale, Arizona, United States, 14 February 2001

The APEC Business Advisory Council (ABAC), the private sector arm of the Asia-Pacific Economic Cooperation (APEC) forum, held its first meeting of 2001 in Scottsdale, Arizona, February 14-17. ABAC launched its year under the theme: "Promoting Common Development through Capacity Building and Full Participation" and began work on the recommendations ABAC will submit to APEC Economic Leaders when both groups meet in Shanghai in October later this year.

This being the first ABAC meeting of APEC's China Year, US Secretary of State Colin Powell sent a message to the members and participants of the concurrent US APEC Business Forum held February 14. During the course of the meeting, ABAC members met with government officials and top business leaders in the U.S. At the Business Forum, presenters and participants explored such topics as the impact of the technology revolution, the outlook for industry in the Asia-Pacific, and a prediction of the state of financial services in the Asia Pacific in the year 2010.

ABAC comprises up to three senior business representatives from each of APEC's 21 member economies appointed by their respective heads of economy to advise APEC Economic Leaders on issues affecting business. The Council is chaired this year by Mr. Qin Xiao, Vice Chairman, China International Trust and Investment Corporation. In setting the scene for this year's work, Mr. Qin said that ABAC's work this year will be to ensure that APEC remains on track in continuing to liberalize trade and investment while strengthening its work in capacity building and full participation.

The work of the Council is managed through task forces, a committee and a caucus. This year, they will work in the areas of Trade and Investment, Finance, and Technology. In addition, the Action Plan Monitoring Committee will continue to track the progress of APEC's Individual Action Plans, the key tool for laying out the plans of APEC economies for trade and investment liberalization. As an indication of the vital role small and medium enterprises play in all economies, the already-existing Informal SME Caucus was formalized and more closely integrated into the work of ABAC.

These working-level groups will continue to refine their work program over the coming months. Nevertheless, work on several key themes was already begun at this Scottsdale meeting. Overall, ABAC will focus on ensuring implementation of its earlier recommendations as well as taking new initiatives. The Trade and Investment Task Force will push for a new round of the WTO, call for continuing simplification and harmonization of customs procedures and standards and conformance, and look for implementation of the APEC Food System. The Finance Task Force will build on last year's work on the adoption of internationally-accepted standards, capacity-building, and the international financial system.

It will also continue to explore development of domestic capital markets in the Asia-Pacific.

The Technology Task Force will build on earlier work in e-commerce readiness and seek to develop steps to reduce the "digital pide" among APEC economies. The Action Plan Monitoring Committee will monitor implementation of APEC's electronic Individual Action Plans, or e-IAP. The SME Caucus, which was raised to formal status, will identify major issues such as access to financing and information and communication technology and strengthening linkages with the SME ministerial meeting. Also, the Caucus will foster the expansion of strategic business partnership initiatives and examine best practices in the management, structure, and organization of government SME agencies in the region.

As in past years, ABAC's work will culminate in a report containing recommendations on ways to improve the business and investment climate in the APEC region and to help ensure that all in the region enjoy the benefits of globalization. ABAC will develop and refine these recommendations in subsequent meetings in Moscow and Singapore. ABAC will then present its recommendations in a report to APEC Economic Leaders when both groups meet in Shanghai, October 20-21.

To promote e-commerce in the region, ABAC signed a Joint Statement of Cooperation with the Global Business Dialogue on electronic commerce (GBDe) on February 17. The Joint Statement calls for coordinating the efforts and expertise of the two groups to address the digital pide.

ABAC's 2000 Report to APEC Leaders is available on the ABAC and APEC websites: http://abaconline.org and http://www.apecsec.org.sg.

Additional background information about ABAC is already available at that site. To order a bound volume of the ABAC Report, contact Mr. Luz as indicated below.



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Moscow, Russia, 17 May 2001

The APEC Business Advisory Council (ABAC), the private sector arm of the Asia-Pacific Economic Cooperation (APEC) forum, held its second meeting of 2001 in Moscow, Russia, May 17-19. ABAC's theme for 2001 is: "Promoting Common Development through Capacity Building and Full Participation." The recommendations ABAC develops will be submitted to APEC Economic Leaders when both groups meet in Shanghai in October later this year.

This was the first ABAC meeting held in Russia. During the course of the meeting, ABAC members met with government officials and top business leaders in Russia. In welcoming the ABAC members to a gala dinner, Russian Deputy Prime Minister Alexei Kudrin said, "Russia attaches great importance to cooperating with APEC and this meeting is the first step to more open and intensive cooperation." In addition, as part of the program, ABAC members attended a presentation on a large number of potential investment projects in Russia, a session which also explored the investment climate in Russia.

ABAC comprises up to three senior business representatives from each of APEC's 21 member economies appointed by their respective heads of economy to advise APEC Economic Leaders on issues affecting business. The Council is chaired this year by Mr. Qin Xiao, Vice Chairman, China International Trust and Investment Corporation. In ABAC's first meeting of the year in the U.S., Mr. Qin said that ABAC's work in 2001 is to ensure that APEC remains on track in continuing to liberalize trade and investment while strengthening its work in capacity building and full participation.

The work of the Council is managed through task forces, a committee and a caucus. This year, the groups will work in the areas of Trade and Investment, Finance, and Technology. In addition, the Action Plan Monitoring Committee will continue to track the progress of APEC's Inpidual Action Plans, the key tool laying out APEC economies' plans for trade and investment liberalization. Highlighting the vital role small and medium enterprises play in all economies, the already-existing Informal SME Caucus was recently formalized and is now more closely integrated into the work of ABAC.

These working-level groups will finalize their work program and the details of their recommendations over the coming months. ABAC made substantial progress in several key areas at this Moscow meeting. Overall, ABAC is focussing on ensuring implementation of its earlier recommendations as well as taking on new initiatives. The Trade and Investment Task Force is pushing for a new trade round of the World Trade Organization, calling for continued simplification and harmonization of customs procedures, urging that standards and conformance regimes in APEC members meet international norms, and looking for implementation of the APEC Food System. The Finance Task Force is building on last year?s work on the adoption of internationally accepted financial standards, capacity building, and strengthening the international financial system. The Task Force is also continuing to explore development of domestic capital markets in the Asia-Pacific. The Technology Task Force is continuing earlier work in e-commerce readiness and government on-line and is also developing steps to reduce the "digital pide" among APEC economies. The Action Plan Monitoring Committee is monitoring implementation of APEC's electronic Inpidual Action Plans, or e-IAPs, and exploring ways of expanding and improving them. The SME Caucus is working on improving the access of small and medium enterprises to both financing and information and communication technology and on strengthening linkages with the SME ministerial meeting. Also, the Caucus will foster the expansion of strategic business partnership initiatives and examine best practices in the management, structure, and organization of government SME agencies in the region.

As in past years, ABAC's work will culminate in a report containing recommendations targeting ways to improve the business and investment climate in the APEC region and to helping ensure that all in the region enjoy the benefits of globalization. ABAC will develop and refine these recommendations in a further meeting in Singapore. ABAC will then present its recommendations in its report to APEC Economic Leaders when both groups meet in Shanghai, October 20-21 at the ABAC Dialogue with APEC Leaders.

ABAC's 2000 Report to APEC Leaders is available on the ABAC and APEC websites: http://abaconline.org and http://www.apecsec.org.sg.

Additional background information about ABAC is already available at that site. To order a bound volume of the ABAC Report, contact Mr. Luz as indicated below.



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Bangkok, Thailand, 03 April 200

The third APEC Automotive Dialogue Meeting was held in Bangkok on 3-5 April 2001. It was attended by over 200 representatives from thirteen APEC economies (Australia, Canada, China, Indonesia, Japan, Korea, Malaysia, Mexico, the Philippines, Chinese Taipei, Thailand, the United States and Vietnam).

The Automotive Dialogue is a unique forum bringing together senior industry representatives and government officials to exchange perspectives on developments in the automotive industry in the region. Its goal is to foster integration and the full development of the competitive advantages of the regional industry. The Dialogue is the only region wide automotive forum that promotes open dialogue among all interested parties, it includes direct input by both industry and government, it has the ability to address a broad range of automotive issues, and can follow up on progress over the short term.

The Dialogue expressed its appreciation to Thailand for hosting the Dialogue. The efficiency and effectiveness of the Ministry of Industry in coordinating and managing the Dialogue enabled participants to focus on the important issues at hand.

Industry participants noted that Asia-Pacific continues to be seen as a key future growth region for the global automotive industry, and that regional companies needed to be effectively integrated into the global industry and market to prosper.

The Dialogue agreed to a wide range of actions and measures to support the integration and development of the automotive industry in the region, including:

To support the liberalization of auto trade in APEC economies on a step-by-step basis, with effective implementation of AFTA commitments identified as a key step in this regard.

To reaffirm the importance of the early commencement of a new round of multilateral trade negotiations in the WTO.

Electronic commerce and information exchange were identified as important factors in the development of the regional industry and will be one particular focus of the Dialogue's future work. The Dialogue endorsed an APEC Automotive IT Manifesto and associated action plan including a study of national portal sites.

The Dialogue heard educational panels on the programs of the global vehicle manufacturers and Tier One suppliers to aid the development of automotive parts manufacturers. The use of Information Technology was identified as a key tool to expose regional suppliers to the global industry, and facilitate their transition to a global scale. The United States and Japan expressed an interest in working further with the regional suppliers to develop these capabilities.

In addition, the Dialogue endorsed an economic and technical cooperation proposal, which will facilitate training for ASEAN suppliers, to help them achieve global quality levels. The Dialogue endorsed this proposal with a view to having it be given further consideration by the APEC Budget Management Committee.

To appraise the APEC leadership of the outcomes of the Auto Dialogue, including the recommendations from the auto manufacturers and suppliers on micro and macro economic policies, with a focus on effective automotive policies and policies that act as barriers to growth.

To stress the direct trade impact of automotive technical regulations harmonization and to support APEC's work on this topic. The Dialogue adopted a set of "Principles of Technical Regulations Harmonization". The Dialogue will hold a special meeting on Technical Regulations to decide on future programs to advance Technical Regulation Harmonization.

To encourage the APEC Sub-Committee on Customs Procedures to implement the recommendations of their Collective Action Plan within the shortest possible timeframe, and to encourage industry and APEC economies to work together to develop customs workshops on auto specific issues.

To expand efforts to address traffic congestion and environmental challenges in the region.

To communicate the outcomes and proposals from this Dialogue meeting to APEC Ministers Responsible for Trade at their meeting in June, and work to develop an appropriate package for presentation to the APEC Ministers/Leaders' meetings taking place in Shanghai, China in October. This will be done in accordance with APEC procedures.

The next Dialogue will be jointly hosted by Japan and the United States, and will be held in early 2002.



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Jeju Island, Korea, 21 September 2001

In a move aimed to help reduce export costs and continue its efforts to reduce non-tariff trade barriers to trade, the APEC Telecommunications & Information Working Group (APEC TEL) have released two new documents to assist the telecommunications industry and test houses to speed time-to-market and reduce export costs for telecommunications products. It is critical that these guides are distributed to the industry and the test houses in the region and APEC TEL wishes to invite the region's press to support its efforts by informing the industry of their availability.

These guides provide an overview of the APEC TEL Mutual Recognition Arrangement on Conformity Assessment of Telecommunications Products (MRA). This landmark MRA was the first multilateral agreement of its type in the world and will remove a significant barrier to what is projected to be a US$60 billion industry by 2010.

APEC Telecommunications and Information Ministers agreed to streamline APEC-wide processes for the testing and type-approval of telecommunications equipment in June of 1998. Today, seven member economies are actively participating and are in the process of establishing ties under the MRA. Fifteen economies have committed to being active by the end of 2003.

It also introduces the MRA Management System (MRAMS), a state-of-the-art system that will automate the complex notification procedures that are required between testing labs, industry and governments. This system will mark the first time information technology will be used to significantly address the issues of implementation of an international agreement. It is especially significant then that a New Economy system such as MRAMS will have such a significant role to play in the full implementation of this Arrangement.

MRAMS was designed during the negotiation phase of the MRA process. It stores and manages all available information on regulations, standards, legislation and interpretations relating to Telecommunications for the APEC economies. It also includes Conformity Assessment Bodies accredited and designated by exporting parties and recognized by importing parties and the management and manipulation of the enormous amount of regulatory data associated with the MRA. It supports all forms of regulatory regime including Supplier's Declarations of Conformity that is being discussed for inclusion into the MRA at the next APEC TEL meeting in Korea in September 2001.

The Guides are available for downloading from www.mrams.com

For additional information contact:

Theodore Polites 
MRA Outreach Project Consultant 
The Colony Park Group 
205 Parkinsons Rd, Launching Place, 
Australia. 3139 
theodore.polites@colonypark.com

Richard Thwaites, Chair 
APEC Telecommunications and Information Working Group 
Office of the APEC TEL Chair 
GPO Box 8771, Canberra, ACT, 
Australia. 2601

Assistant to the Chair - 
libby.quinn@noie.gov.au

Asia-Pacific Economic Cooperation (APEC) was established in 1989 in response to the growing interdependence among Asia-Pacific economies. Begun as an informal dialogue group, APEC has since become the primary regional vehicle for promoting open trade and practical economic cooperation. Its goal is to advance Asia-Pacific economic dynamism and sense of community. Today, APEC's 21 member economies had a combined Gross Domestic Product of over US$18 trillion in 1999 and 43.85 percent of global trade. www.apecsec.org.sg

The APEC Telecommunications and Information Working Group (TEL) was formed in 1990. The work of the TEL is accomplished by four steering groups, which propose, implement and monitor projects and activities to advance the overall goals of APEC. Each steering group addresses a specific priority area: liberalization; business facilitation; development cooperation; and human resource development. Its Program for Action focuses on continuing liberalization efforts, including endorsement of a reference list of a Fully Liberalized Telecommunications Sector. The business and private sector from many APEC member economies are actively involved in TEL activities, including all four TEL Steering Groups. Many projects are both initiated and driven solely by the private sector or in cooperation with the public sector. www.apectelwg.org

The Colony Park Group is the designer and developer of the APEC endorsed MRA Management System and is currently in negotiations with the Organization of American States to provide a multi-lingual version of this system to the Inter-American Telecommunications Commission (CITEL). Formed in 1999, it is a provider of regulatory consultancy, specialized internet-based management software development and strategic business research with affiliates in Australia, Canada, Chile and Singapore. The Colony Park Group is a Lotus and Interliant Business Partner. www.colonypark.com - www.mrams.com

This document and the Guides have been produced on behalf of the APEC Telecommunications and Information Working Group under the APEC funded MRA Outreach Program (APEC TEL 16/2001).



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Moscow, Russia, 17 May 2001

The APEC Business Advisory Council (ABAC), the private sector arm of the Asia-Pacific Economic Cooperation forum (APEC), will hold its second meeting of 2001 in Moscow, May 17-19. Earlier, at its meeting in Scottsdale, Arizona in February, ABAC launched its work for the year under the theme: "Promoting Common Development through Capacity Building and Full Participation."

This will be the second ABAC meeting of APEC's China Year, when China will host the meeting of APEC Economic Leaders in Shanghai in October. It will also be the first ABAC meeting held in Russia. During the course of their meeting in Moscow, ABAC members will have the opportunity to meet top leaders of government and business in Russia. In conjunction with the ABAC meeting, there will also be a session for ABAC members detailing investment opportunities in Russia. The social program for ABAC will be capped by a gala dinner (venue to be confirmed).

ABAC comprises up to three senior business representatives from each of APEC's 21 member economies appointed by their respective heads of economy to advise APEC Economic Leaders and Ministers on issues affecting business. The Council is chaired this year by Mr. Qin Xiao, Vice Chairman - China International Trust and Investment Corporation. The Moscow meeting will continue the work begun in Scottsdale to finalize the year's priorities. Five bodies set up within ABAC this year will carry out this work. They consist of task forces on finance, trade and investment, and technology as well as the Action Plan Monitoring Committee and the Small and Medium Enterprises Caucus.

As in past years, ABAC's work will culminate in a report containing recommendations on ways to improve business and investment in the APEC region and to help ensure that all in the region enjoy the benefits of globalization. ABAC members will present ABAC's recommendations to APEC Economic Leaders when they meet in Shanghai, October 20-21.

Press Arrangements and Contacts

Mr. Qin and the Taskforce and Committee Chairs and co-Chairs will hold a press conference to report on the outcomes of the meeting at 12:15 p.m. Saturday, May 19 in the Theatre Room (to be confirmed) at the Renaissance Moscow Hotel, located at 18/I Olympijskij Prospect, Moscow, Russia (Tel: 7-095-931-9000; Fax: 7-095-931-9076). Representatives from print and electronic media outlets are invited to attend. In addition, television cameras will be allowed to film the opening moments of the first ABAC plenary session at 09:00 a.m. on Thursday, May 17 in the Tashkent Room at the Renaissance Moscow Hotel.

ABAC's 2000 Report to APEC Leaders is available on the ABAC and APEC websites: http://abaconline.org and http://www.apecsec.org.sg.

Additional background information about ABAC is already available at that site. To order a bound volume of the ABAC Report, contact Mr. Luz as indicated below.



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Kumamoto, Japan, 29 September 2001

An APEC Human Resources Development Ministerial Meeting will be held in Kumamoto Castle Hotel, on 29-30 September 2001 and will be preceded by a two-day Senior HRD Officials meeting.

The Ministerial Meeting will be chaired by HE Dr Chikara Sakaguchi, Japan's Minister of Health, Labour and Welfare and hosted by the Goverment of Japan. Approximately 200 participants from 21 member economies of APEC are expected to attend the meeting.

This meeting will mark the fourth time that HRD Ministers meet since HRD Ministers first met in 1996. HRD Ministers will meet under the theme "Human Resources Development for Both the Advancement of Society and Economy and the Sharing of Prosperity with People in Context of Globalization" and provide direction to guide APEC work in Human Resources Development.

General information on the meeting can be obtained from the official website at http://www.pref.kumamoto.jp/apec/english.



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Jeju Island, Korea, 21 September 2001

Leading Asia-Pacific experts and policy advisers in electronic security have agreed on closer cooperation in combating cyber-terrorism and threats to security of information systems, with special reference to the vulnerabilities in economic information systems.

In the wake of the destruction of the World Trade Centre, experts from 16 economies of the APEC grouping met in the context of the APEC Telecommunications and Information Working Group in Jeju, Korea, this week.

Members agreed to a proposal introduced by the United States for information-sharing on the security of information systems among the economies of the Asia-Pacific. Officials of the member economies will report to Ministers within a rapid time frame. Officials will share information monitoring each economy's actions in response to the United Nations General Assembly resolution on combating criminal misuse of information systems.

Mr Peter Ford (Australia), who is also chair of the OECD Working Party on Information National Security and Privacy, noted the renewed relevance of critical infrastructure protection in the light of the events in the United States. He said that such protection had two elements, both national security and economic protection.

"The main emphasis in APEC is the economic element, but the national security aspect cannot be ignored."

United States representative Mr Joseph Richardson said that the United States is seeking innovative solutions, both nationally and internationally, applying three principles: the need for flexible solutions; private sector leadership; and consistency in approach across economies.

Japan's representatives noted the development of a "Special Action Plan on Countermeasures to Cyber-Terrorism". Elements would include a certification system for national information security management and promotion of IT security technologies.

Korea, who hosted the APEC Telecommunications and Information Working Group meetings, announced establishment of an Information Infrastructure Authority under the Information Infrastructure Protection Act 2001.

APEC is the Asia-Pacific Economic Cooperation framework under which government and industry respresentatives of the 21 member economies meet in specialised Working Groups to address current priority issues. The Telecommunications and Information Working Group is currently chaired by Mr Richard Thwaites, of Australia's National Office for the Information Economy.



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Singapore, 12 October 2001

Four informative reports published by committees of the Asia-Pacific Economic Cooperation (APEC) forum are now available to media on an embargoed basis ahead of the Ministerial and Leaders' Meetings being held next week in Shanghai, People's Republic of China.

The reports offer analysis of economic activity in the Asia-Pacific region and capture the work of key APEC committees - including the Economic Committee, the Committee on Trade and Investment (CTI), and the Economic and Technical Cooperation (ECOTECH) Subcommittee. The reports will be presented to the APEC Ministerial Meeting on 17 and 18 October.

Media Can Receive Copies Of The Following Reports On An Emgargoed Basis (For 17 October) By Completing The Form Below:

"APEC Economic Outlook" : An annual publication of the Economic Committee since 1995, the Outlook reviews recent economic developments in the region and the economic performance and prospects of APEC member economies. The report was prepared amidst a cyclical slowdown of the world economy and it projects that prospects for the rest of 2001 remain weak. However, it also asserts that there is a reasonably good prospect for an early rebound in growth momentum in 2002, supported by a revival in global business activity and the electronics cycle. One reason given is that underlying inflationary pressures have been subdued in the APEC region, giving room for more macroeconomic policies to counter the slowdown. The topical structural issue that Outlook has chosen to focus on this year is the nexus among financial development, financial efficiency and economic growth. 

"The New Economy and APEC" : Also a product of the Economic Committee, this report resulted directly from the 2000 APEC Leaders' Declaration, which called for bringing the benefits of the New Economy to all APEC members in a balanced way. The report addresses questions about the fundamental underpinnings of the New Economy, potential policy reform and structural adjustment, and the pace and feasibility of ongoing policy initiatives. It both reviews existing empirical research and develops new analysis; and it includes 16 case studies on how businesses, civil society and governments are being transformed by technologies and policy developments.

"Committee on Trade and Investment: 2001 Annual Report to Ministers" : The definitive source for tracking progress toward the Bogor goals of free and open trade and investment in the APEC region, the CTI report outlines accomplishments in areas such as non-tariff measures, services, customs procedures, standards and the mobility of business people. In addition to detailing the work of all CTI sub-fora, the report cites progress on Collective Action Plans (CAPs) and advances made in the delivery of electronic access to Inpidual Action Plans (known as the e-IAP system ). Updates on sectoral liberalization, review of the Osaka Action Agenda, strengthening markets and trade facilitation are also included. The bottom line is an increase in transparency of trade and investment policies, lowering of the transaction costs of cross-border trade, and greater certainty and predictability for the business community.

"2001 Report on Economic and Technical Cooperation (ECOTECH)" : Recognizing the need for "capacity building" among its member economies, APEC Ministers have designated the ECOTECH sub-committee to coordinate and manage activities that contribute to training, skills development and information sharing. This report assesses 148 projects within APEC contributing to the six broad ECOTECH themes of developing human capital; developing stable, safe and efficient capital markets; strengthening economic infrastructure; harnessing technologies for the future; promoting environmentally sustainable development; and encouraging the growth of SMEs (small- and medium-sized enterprises). Highlights of activities in areas such as energy, fisheries, telecommunications, transportation and tourism are provided.



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Media Advisory for Informal Senior Officials' Meeting, APEC Ministerial Meeting, APEC Economic Leaders' Meeting, Media Taskforce China Secretariat for APEC 2001

Shanghai, People's Republic of China, 15 October 2001

1. Introduction

The Ninth Asia-Pacific Economic Cooperation (APEC) Leaders' Meeting will be held in Shanghai, China on 20-21 October 2001. It will be preceded by the APEC Ministerial Meeting 17-18 October 2001, Informal Senior Officials' Meeting 15-16 October 2001 and other related meetings including the APEC Business Advisory Council Meeting 18-21 October 2001 and the CEO Summit 18-20 October 2001.

2. Events and Venues

For the APEC 2001 meetings, an International Media Centre (IMC) will be established in the Oriental Pearl Radio & TV Tower. It is located at No.1 Century Boulevard, Pudong District, Shanghai, which is adjacent to the International Convention Centre - the main venue for the APEC 2001 meetings. The International Media Centre, open from 0900 hours to 2400 hours 14-16 October, around-the-clock 17-21 October, and 0900 hours to 1200 hours on 22 October, will provide facilities for electronic and print media.

A media sub-centre with a smaller common working area will be established for those in media pools accredited to cover the APEC Leaders' Retreat.

The International Media Centre will contain briefing rooms, and will be the venue for the main press conferences. It will have a common working area for an estimated 350 media members (desks with telephones which will provide free local call, long distance call could be made by using phone cards?about 150 PCs with free Internet access, and Internet connection points for laptops), an information desk, a booking office, a Telecom Services Office with public phone and fax facilities, photo-processing and food service areas, etc.

Broadcast media organizations have earlier been advised of ways to book work space and facilities through the Rate Card and Requirement Survey published by the Media Taskforce of China Secretariat for APEC 2001.

Other media organizations can also hire work space and facilities by using the order forms enclosed (see Annex A). Since space is limited, media organizations are asked to request only their minimum space requirements.

The International Convention Centre (ICC) and the Shanghai Science and Technology Museum will be the venue for official ceremonies and meetings.

Key Dates

15-16 October APEC Informal Senior Officials' Meeting (SOM) 
17-18 October APEC Ministerial Meeting (AMM) 
18-20 October APEC CEO Summit 
18-21 October APEC Business Advisory Council Meeting (ABAC) 
20-21 October APEC Economic Leaders' Meeting (AELM)

3. Accreditation

The accreditation will begin from 15 July 2001. Members of the media wishing to report the Informal SOM, AMM, AELM and other related meetings are required to be accredited and in possession of a photograph identification (ID) card. The ID card must be WORN AT ALL TIMES at the official venues and will be required for entry.

Media representatives from each economy (except those residing overseas) should send their application forms (see Annex B) to their delegation's Accreditation Liaison Officer (ALO). The ALO is responsible for verifying and inputting the media information on the Internet using password.

Media representatives from APEC economies but residing overseas and media representatives from non-APEC economies may send their application forms to the Media Taskforce (Shanghai) by express mail or registered mail. They may as well apply to Chinese Embassies, Consulates or Commissioner's Offices of Chinese Foreign Ministry in Hong Kong and Macao.

Foreign Media representatives residing in China should send their application forms directly to the Media Taskforce (Shanghai) by express mail or registered mail.

Media application for accreditation must be accompanied by a letter of assignment from the editor or a news executive from his/her respective media organization. Applications without an accompanying signed letter of assignment will not be processed.

Please complete and return the Accreditation Form attached in Annex B together with two passport size color photographs to the APEC Media Taskforce (Shanghai) no later than 31 August 2001.

Accreditation Office

Media Taskforce (Shanghai) 
China Secretariat For APEC 2001 
Oriental Pearl Radio & TV Tower 
No. 1 Century Avenue, Pu Dong 
Shanghai, CHINA 200002 
Tel: +86- 21- 50496117 or 50496118 
Fax: +86- 21- 50496116 
E-mail: apecmedia@sina.com

Economies are requested to advise the Media Taskforce (Shanghai) for APEC 2001 of the name and contact details of their official media representatives attached to delegations as soon as possible but no later than the time of their Advance Visit (late August). Such information should be sent to the Media Taskforce of China Secretariat (address as above).

Collection of Media ID Cards

Media should collect their APEC Media ID card from the Media Accreditation Office of the IMC. Please bring with you photographic proof of identity, for example a passport, driver's license or media identification card. It is strongly recommended that you collect your APEC ID card as soon as possible after arrival. Media who have not pre-registered may face delays while their application is processed.

With prior arrangement, a senior representative of a media group (Economy's Media Officer, EMO) may pick up media accreditation cards on behalf of the group.

4. Accommodation

The China Secretariat has recommended 10 hotels (See Annex C) in Shanghai for media representatives wishing to cover the APEC meetings. As October is the peak tourist season in Shanghai and available accommodation will be under pressure, media representatives are kindly requested to make their own bookings directly with the hotels as soon as possible. The hotels will make special arrangements for the media to facilitate their work. Accommodation cannot be guaranteed for those who make late requests.

Media which are part of the official delegations have also been advised of the arrangements of accommodation which have been set aside for them by the Office for Conference Service of China Secretariat. Media should therefore first check with the appropriate officials in their economies to avoid duplication in accommodation bookings.

5. Host Broadcaster

China Central Television (CCTV) has been appointed as Host Broadcaster for the various events and will provide client broadcasters international quality signals of designated key events at the AELM, along with other facilities and services available through the Rate Card.

For further information on Host Broadcaster and Rate Card services please contact:

Media Taskforce (Shanghai) 
China Secretariat For APEC 2001 
Room 211, Office Wing 
Hotel Equatorial 
65 Yan?an Road West 
Shanghai, CHINA 200040 
Tel +86- 21- 6249 0220 
Fax +86- 21- 6249 0219 
E-mail: apecmedia@sina.com

6. Passports/ Visas

All media representatives are required to possess a valid passport or other applicable travel documents. Foreign media representatives except those already accredited in China are required to apply for a temporary journalist visa. The media representatives from Hong Kong, China and Chinese Taipei holding valid applicable permits are required to go through the relevant formalities before entry.

7. Customs Clearance Requirements

Media representatives bringing equipment into China should complete the Declaration of Media Equipment for Customs Entry ( See Annex D). Those who would take radio equipment into China, please also fill in the attached Declaration of Radio Equipment for Customs Entry ( See Annex D). Please list the detailed inventory including item, model, serial number, quantity and value of the equipment in the Declaration Form, and indicate whether all the equipment will be carried as passenger's baggage or imported as cargoes that need a broker for customs clearance.

The Declaration should be endorsed by the Media Taskforce of China Secretariat for APEC 2001. Please complete and return the Declaration Form NO LATER THAN 31 AUGUST 2001 to the following address:

Accreditation Office 
Media Taskforce (Shanghai) 
China Secretariat For APEC 2001 
Oriental Pearl Radio & TV Tower 
No. 1 Century Avenue, Pu Dong 
Shanghai, CHINA 200002 
Tel: +86- 21- 50496117 or 50496118 
Fax: +86- 21- 50496116 
E-mail: apecmedia@sina.com

Please note that Shanghai International Convention & Exhibition Corp. Ltd. has been appointed as official Customs Broker to facilitate the clearance of the declared goods. After the Declaration is endorsed, if needed, media could contact the corporation directly at the following address:

Shanghai International Convention & Exhibition Corp. Ltd. 
Room 505, Office Wing 
Hotel Equatorial 
65 Yan'an Rd West 
Shanghai, CHINA 200040 
Tel: +86- 21- 6248 0123 
Fax: +86- 21- 6248 4488

8. Transportation

The China Secretariat will provide free transportation between the Pudong Airport, Hongqiao Airport and the 10 recommended hotels for the media representatives, and free shuttle buses between the hotels and the IMC. For media pools, the Secretariat will provide free shuttle buses between the IMC and the meeting venues.

Media could also make their own transport arrangement (see Annex E for List of Car Rental Agents which you may contact directly).

9. Telecommunications

Shanghai Telecom Corporation (Shanghai Telecom) and Shanghai Mobile Communications Corporation (Shanghai Mobile), as the designated suppliers of telecommunications services to the APEC meeting, will provide technical resources on-site for the duration of the APEC meeting. Shanghai Telecom and Shanghai Mobile will provide solutions to any technical or communications problems that the media may encounter, or any training service the media may need for the equipment they have provided.

As we expect high demands for services and products at the time of the meetings, please check the detailed information through Rate Card and ensure the Order Forms (see Annex F1, F2) are forwarded by 15 July 2001 to the following address:

Media Taskforce (Shanghai) 
China Secretariat for APEC 2001 
Room 211, Office Wing 
Hotel Equatorial 
65 Yan'an Road West 
Shanghai, CHINA 20040 
Tel: +86-21- 6249 0220 
Fax: +86- 21- 6249 0219 
E-mail: apecmedia@sina.com

10. General Information

Brief Introduction to China and Shanghai

China is situated in the eastern part of Asia, on the west coast of the Pacific ocean. It has a total land area of 9.6 million square kilometers, next only to Russia and Canada. China's land border is 22,800 kilometers long. The coast of the mainland, 18,000 kilometers long, is dotted with excellent harbours and ports.

Being the largest city with a population of 13.45 million, Shanghai is China's financial, commercial and ocean transportation centre. In the 1990's, the city of Shanghai has witnessed an economic boom, and is increasingly becoming the head of the dragon of the economies along the Yangtze River. In the last decade, Shanghai has undergone a face-lift of its public transport system and old buildings. During this period, a batch of landmark architectures have been built such as the Oriental Pearl Tower, Jin Mao Tower, Shanghai Museum, Shanghai Grand Theater and Shanghai Urban Planning Exhibition Hall.

Climate: With a pleasant northern subtropical maritime monsoon climate, Shanghai enjoys four distinct seasons, generous sunshine and abundant rainfall every year.

In October, Shanghai's autumnal weather is generally fine, warm and comfortable. The average temperature is 23 degrees Celsius.

Currency Regulations

No restrictions are imposed on the amount of foreign currency, travellers' checks, credit cards to be brought into China. However, non-residents carrying more than 5,000US dollars or equivalent in cash should declare to the Customs.

Most internationally recognized currencies and travellers' checks can be exchanged easily at commercial banks, hotels and international airports. Normal banking hours are from 0900 to 1700. Major credit cards are accepted in many hotels, restaurants and major shopping complexes.

Medical Arrangements

Medical facilities will be available to media for the duration of the APEC meeting.

Media representatives should make appropriate arrangements for insurance to cover emergency medical, surgical or hospital expenses.

Electricity Supply

The electricity power supply in China is 220 - 240 volts, 50 hertz. Hotels frequently provide separate sockets (with 110 or 220-volt supply) for electric razors only.

Postal Service

Post Offices generally open from 0800 to 1800. There is a post office in the International Media Centre.

Airport Tax

The airport tax is 90 RMB Yuan each person for international flight and 50 RMB Yuan each person for domestic flight.

Time

Beijing Standard Time is 8 hours ahead of GMT.

Economy

City

Time Difference with Beijing Standard Time

Australia

Canberra

+4 hours

Brunei Darussalam

Bandar Seri Begawan

+0 hours

Canada

Ottawa

-12 hours

Chile

Santiago

-13 hours

People's Republic of China

Beijing

+0 hour

Hong Kong, China

Hong Kong

+0 hour

Indonesia

Jakarta

-1 hour

Japan

Tokyo

+1 hour

Republic of Korea

Seoul

+1 hour

Malaysia

Kuala Lumpur

+0 hour

Mexico

Mexico City

-13 hours

New Zealand

Wellington

+4 hours

Papua New Guinea

Port Moresby

+2 hours

Peru

Lima

-11 hours

The Philippines

Manila

+0 hour

Russia

Moscow

-4 hours

Singapore

Singapore

+0 hour

Chinese Taipei

Taipei

+0 hour

Thailand

Bangkok

-1 hour

United States of America

Washington

-13 hours

Viet Nam

Hanoi

+0 hour

11. Websites

APEC 2001 official website: www.apec-china.org.cn

Other relevant websites: 
www. fmprc.gov.cn

www.china.org.cn

www.xinhuanet.com

www.chinatravelclub.co



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Shanghai, People's Republic of China, 17 October 2001

The APEC Committee on Trade and Investment (CTI), which carries forward and coordinates APEC's work on Trade and Investment Liberalisation and Facilitation, has reported a series of accomplishments during the past year in its report presented to APEC Ministers in Shanghai today.

The just released report highlights significant accomplishments in areas such as non-tariff measures, services, customs procedures, standards and the mobility of business people. In addition to detailing the work of the ten CTI sub-fora, the report cites progress on Collective Action Plans (CAPs) and advances made in the delivery of electronic access to individual Action Plans (known as the e-IAP system). Updates on sectoral liberalization, review of the Osaka Action Agenda, strengthening markets and trade facilitation are also included.

"The bottom line is an increase in transparency of trade and investment policies, lowering of the transaction costs of cross-border trade, and greater certainty and predictability for the business community," said CTI Acting Chair German King.

Key CTI achievements and outcomes for the year include:

Improvements to the Electronic Individual Action Plan (IAP) System
The individual action plan is the core mechanism used by all APEC member economies to illustrate their commitment towards achieving the Bogor goals of free and open trade and investment in the region. Following the delivery of a web-based electronic IAP (e-IAP) system in Brunei last year, several improvements have been implemented to enhance presentation, functionality and user friendliness, and importantly, business accessibility to the information contained in the IAPs.

Review and Development of the Osaka Action Agenda (OAA)
CTI has conducted a thorough review and overhaul of Part I of the OAA, to reflect new changes and developments in the area of trade and investment liberalisation and facilitation since 1995. As a result, the updated OAA now provides an improved and more comprehensive long-term framework for advancing towards the Bogor Goals of 2010 (for developed economies) and 2020 (for developing economies).

Collective Action Plans (CAPs)
Implementation and enhancement of CAPs is the core activity of the CTI and its sub-fora. Progress was recorded in several areas, including: intensified work on tariffs/non-tariff measures (NTMs); agreement on a "Typology of Possible NTMs Identified under the Early Voluntary Sectoral Liberalisation (EVSL) Sectors"; publication of a report on "APEC Economies: Breaking Down the Barriers" which highlights efficient and effective administrative procedures that facilitate the flow of goods and services across borders that have been implemented in APEC economies in various sectors; and a study on trade data and tariff information.

Services
To implement the comprehensive APEC Policy Framework for Work on Services endorsed in 2001, phase II of the Development of the Menu of Options for Voluntary Liberalisation, Facilitation and Promotion of ECOTECH in Services Trade and Investment was completed.

Investment
The menu of options was expanded to include technology transfer, intellectual property rights, start-up companies/venture capital and domestic business environment.

Standards & Conformance
The work program in this area has been streamlined through rationalisation of the agenda, improved priority setting and coordination with other groups.

The CTI also contributed to preparations for the potential launch of a pilot of DeclareNet, an Internet business-to-government (B2G) website for exchange of conformance information between regulatory authorities and manufacturers, which would also function as a regulatory tool for post-market surveillance.

Customs Procedures
A framework for assessment and evaluation of SCCP CAP implementation was endorsed including its on-going efforts in technical assistance.

Several comprehensive multi-year technical assistance programs aimed at assisting members in CAP implementation were also completed.

In the area of Intellectual Property Rights - an overhaul of the CAP was conducted and and several new collective actions adopted such as electronic processing of IPR-related procedures and appropriate protection of IPR in new fields.

Mobility of Business People
Participation in the APEC Business Travel Card (ABTC) scheme was expanded to 11 economies during the year. The scheme offers accredited business travellers visa-free travel and expedited airport processing when visiting participating economies. The 11 (in order of participation) are: Australia; Chile; Hong Kong, China; Korea; Philippines; Malaysia; New Zealand; Thailand; Peru; Brunei Darussalam; and Chinese Taipei.

A multilateral Advance Passenger Processing (APP) trial was also approved to support implementation of best practice travel facilitation systems.

Dialogue with Business
The CTI continued to encourage wider working level dialogues with business and professional groups to promote better understanding of business related APEC issues.

The Automotive Dialogue met for the 3rd time in Bangkok from 3-5 April. It adopted an "IT Manifesto" which incorporates a forward looking agenda and a set of "Principles of Technical regulation Harmonization". A substantive work program looking at various areas pertinent to the automotive industry has been put in place. Its achievements were noted by APEC Ministers Responsible for Trade (MRT) in June.

The Terms of Reference for establishing the Chemical Dialogue were also finalized and preparations are now underway for conducting the 1st Dialogue meeting in Mexico around the time of the Meeting of APEC Ministers Responsible for Trade in May 2002.

Trade Facilitation
A set of trade facilitation principles were developed during the year to build upon APEC's existing commitments and obligations. The APEC Principles on Trade Facilitation will serve as a reference for policy makers and executors in APEC member economies to assist them in formulating and implementing measures that are pro-business. CTI will now start to develop work programs, including further technical assistance/capacity building programs to implement the principles. Work was continued on the implementation of initiatives under the Cooperation Framework on Strengthening Economic Legal Infrastructure adopted in 2000 as well as the implementation of the APEC Principles to Enhance Competition and Regulatory Reform. A Menu of Options was endorsed to advance work in the priority areas of Capacity and Institutional Building and Corporate Law and Competition Policy. The first two of a series of events related to the joint APEC-OECD Co-operative Initiative on Regulatory Reform were also held focusing on further implementation of the regulatory principles and exchange of information on good regulatory practices.

Strengthening the Multilateral System
The CTI coordinated and undertook the work program to implement the APEC Strategic Plan for WTO-related capacity building that was endorsed by Ministers in November 2000. Twelve projects in total, financed from APEC's TILF Funds, were developed to assist developing economies to address concerns over certain aspects of the implementation of WTO Agreements.



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In the context of a global economic slowdown, two timely reports from the Economic Committee of the Asia-Pacific Economic Cooperation (APEC) forum offer valuable insights into the regional issues confronting APEC's member economies.

The reports released in conjunction with the Ministerial and Leaders' Meetings being held in Shanghai, People's Republic of China, are:

"APEC Economic Outlook": An annual publication of the Economic Committee since 1995, the Outlook reviews recent economic developments in the region and the economic performance and prospects of APEC member economies.

"The New Economy and APEC": Resulting from the 2000 APEC Leaders' Declaration, this report addresses questions about the fundamental underpinnings of the New Economy, potential policy reform and structural adjustment, and the pace and feasibility of ongoing policy initiatives.

The 2001 APEC Economic Outlook is the seventh in this series. This year's report is prepared amidst a cyclical slowdown of the world economy. Prospects for the year remain weak, as the negative impact of the global cyclical downturn rippled through and dampened business and consumer confidence. There are lingering concerns about the on-going inventory adjustment in the IT sector, more difficult financing conditions in some emerging economies, weakening corporate profitability and accompanying downward adjustment in equity prices, slower than expected recovery in the US economy and continued slow growth in the euro area, and a possible slip back of the Japanese economy in the near future.

"Nevertheless, underlying inflationary pressures have been relatively subdued in the APEC region, giving room for more macroeconomic policies to counter the slowdown," observed Dr. Kyung Tae Lee, Chair of the Economic Committee. "Monetary easing and more expansionary fiscal policies in many APEC member economies should help revitalize demand in due course. Unfortunately the recent terrorist attack on the United States has overcast our near-term prospects, leading to added uncertainty about the timing and strength of the global economic recovery."

For its topical structural issue, this year's Outlook report takes a look into the nexus between financial development, financial efficiency and economic growth. The study is timely in face of the current global economic slowdown and envisaged volatility in the global market in the near term. A prominent task before us is how to strengthen our macroeconomic foundation, of which the financial infrastructure is an important constituent. The study affirms the significance of financial efficiency in ensuring stability and promoting long-run growth and prosperity. Empirical experience proves that size is not everything and efficiency matters. A key message from the study is that financial policies should aim at boosting financial efficiency through promoting competition, increasing private initiatives, reducing barriers to entry, relaxing restrictions on bank activities, improving risk management, enhancing transparency and tightening governance.

"The New Economy and APEC" report resulted from the 2000 APEC Leaders' Declaration, which laid out a vision to capture the full economic and social benefits of the emerging New Economy. With a view to achieving this goal, the Leaders instructed Ministers to expand and develop the agenda to create an environment for strengthening market structures; institutions and infrastructure investment; technology development; and building both human capacity and entrepreneurship development. In response to this instruction, the APEC Economic Committee agreed to put into the work program for 2001 the New Economy project at its February 2001 meeting.

The EC's work in New Economy project is focused on bringing the benefits of the New Economy to all members in a balanced way. Five member economies - Australia, Canada, Japan, Chinese Taipei and the U.S. are leading this project. As a first step to moving forward the project, the U.S. submitted the report titled "New Economy and APEC."

The Report addresses four questions:

What are the fundamental underpinnings of the "New Economy"?

What evidence is there, at the macro level on benefits to growth and at the micro level of the challenges of transformation, which can assist in the domestic political discussion about policy reform and structural adjustment?

What are the implications, particularly in terms of trade competitiveness and digital pides, of the different paces of policy reform in pursuit of the New Economy?

What conclusions, both for economies and for the institution of APEC, can be drawn from the foregoing discussion?

With respect to empirical research, the Report both reviews existing empirical research as well as develops new analysis. It reviews existing empirical analyses of the macroeconomic benefits of putting in place the prerequisites for achieving the productivity enhancing outcomes of the New Economy; these analyses focus on the gains to GDP of trade and investment liberalization. In addition, the Report undertakes new microeconomic and sector-level analysis of the implications of the New Economy for international trade competitiveness. Specifically the Report considers the relationships between the pace of transformation of an industry sector, the sector-level trade patterns of an economy, and its policy environment.

Finally, the Report distills common themes from 16 case studies from 12 members of APEC prepared for this Report. Nominally following a "template," these mini case studies come from both official APEC sources as well as independent researchers and address how businesses, civil society, and governments are being transformed by the technologies of the New Economy - or are being held back from that transformation by the state of the domestic and international policy environments.

Background: The APEC Economic Committee

The Economic Committee (EC) was established at the Sixth APEC Ministerial Meeting in Jakarta in November 1994, when the Ministers agreed to transform the Ad Hoc Group on Economic Trends and Issues into a formal policy committee. The Committee is responsible for research on economic trends and issues in the APEC region, and serves as a forum for member economies to exchange information and views. The Committee's work addresses central economic issues of priority concern for Leaders and Ministers, and provides the analytical basis useful for advancing TILF and ECOTECH agendas.

The Economic Committee is currently chaired by Dr. Kyung Tae Lee, President, Korea Institute for International Economic Policy in Seoul.



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Singapore, 18 October 2001

Issued by APEC Secretariat,

The member economies of the Asia Pacific Economic Cooperation (APEC) forum made significant progress this year in areas of economic and technical cooperation, according to the annual report of the ECOTECH Sub-Committee. An assessment of 148 projects within APEC shows a range of contributions to training, skills development and information sharing.

"APEC's recognition of economic and technical cooperation has been lifted this year; putting it on a par with its trade and investment liberalisation and facilitation focus," said the Chair of the ECOTECH Sub-Committee, Dr Medhi Krongkaew.

The ECOTECH Sub-Committee coordinates and manages projects contributing to the six broad ECOTECH themes of developing human capital; developing stable, safe and efficient capital markets; strengthening economic infrastructure; harnessing technologies for the future; promoting environmentally sustainable development; and encouraging the growth of SMEs (small- and medium-sized enterprises). The annual report highlights activities in areas such as energy, fisheries, telecommunications, transportation and tourism.

More than one-third of APEC's projects are aimed at the 'developing human capital' theme and almost all fora have at least one project under this category. Of the 148 projects that have been completed or are in progress in 2001, around 28% involve information gathering (e.g., studies), 47% information sharing (e.g., seminars and websites), and 19% training. The remaining projects cover activities such as developing best practice models and conducting expositions.

Dr Medhi said he was pleased that for the first time in APEC's history, members had agreed this year to prepare ECOTECH Action Plans. "This development will help track individual and collective efforts by each member economy in the advancement of APEC's human resources development objectives", he observed.

Another major accomplishment this year, Dr Medhi said, was the updating of Part II of the 1995 Osaka Action Agenda, which spells out the essential elements for ECOTECH: common policy concepts, joint activities and policy dialogue. "The 2001 update ensures that the Osaka Action Agenda is perpetuated as a living document that provides a clear road map for activities that shape policy dialogues and projects" Dr Medhi added.

Media Backgrounder: ECOTECH

What is it?
ECOTECH or Economic and Technical Cooperation, is aimed at building capacity and skills, particularly in developing member economies, to enable them to advance APEC's trade and investment liberalisation and facilitation (TILF), and sectoral objectives. Those objectives are outlined in the 1995 Osaka Action Plan (updated this year) and the 1996 Manila Declaration. The two documents define how APEC?s ECOTECH agenda is set.

APEC's ECOTECH goals, under the 1996 Manila Declaration, are to:

attain sustainable growth and equitable development in the Asia-Pacific region;

reduce economic disparities among APEC economies;

improve the economic and social well-being of the people; and

deepen the spirit of community in the Asia-Pacific.

Process of implementation
ECOTECH activity which directly supports trade and investment liberalisation and facilitation is mainly dealt with in Part I of the Osaka Action Plan and is coordinated by the Committee on Trade and Investment (CTI). Whereas the joint activities and the policy dialogues that each of the sectoral working groups should undertake are dealt with in Part II and, since 1998, have been overseen by the ECOTECH Sub-Committee of the SOM (ESC).

ECOTECH Sub-Committee (ESC)
The ESC was established in April 1998 to assist Senior Officials in coordinating and managing APEC's ECOTECH agenda, as well as to identify value-added initiatives for cooperative action.

The Chair of the ESC is Dr Medhi Krongkaew, Associate Professor at the Faculty of Economics, Thammasat University, Thailand.

ECOTECH Deliverables 2001

1. SOM 2001 Report on Economic and Technical Cooperation
The 2001 ECOTECH report provides an assessment of the number and types of ECOTECH projects being conducted by APEC fora and includes reports from individual fora on their ECOTECH activities. Progress in the implementation of key ECOTECH initiatives is presented in Chapter 3 of the report.

2. Update of the Osaka Action Agenda (OAA)
Last year the ESC carried out a review of Part II of the OAA to determine how much had been accomplished since 1995 and whether it needed revision. The ESC found that many of the prescribed activities had been accomplished and the Trade and Investment Database Working Group (TIDWG) had since completed its task and was dissolved in 1999. Moreover, since 1995 Ministers and Leaders had launched more than a dozen new ECOTECH initiatives and the tasks associated with them were not necessarily reflected in the OAA. In summary, the ESC concluded that it was timely for the Joint Activities/Dialogue sections of Part II of the OAA to be updated so that they better reflect ongoing priorities for individual working groups.

In order to ensure that the OAA remained a fundamental reference document "which manifestly articulates APEC's sectoral ECOTECH goals and provides a clear road map for activities that shape policy dialogues and projects by APEC fora", the ESC updated Part II of the OAA this year. It will be submitted to Ministers for endorsement (together with the updated Part I, which was carried out by the CTI).

3. ECOTECH Action Plan
The ESC in 2001 examined options for the establishment of a process to track individual and collective efforts by member economies in economic and technical cooperation. After consideration of its objectives and principles, the ESC at its meeting in Shenzhen, China, in May 2001, recommended the introduction of the 'ECOTECH Action Plan' (EAP).

It was agreed that in the first instance the EAPs would focus on the theme of human resources development (HRD), based on the Common Policy Concepts identified in Part II of the Osaka Action Agenda. The EAPs would be submitted on a voluntary basis, and implemented on a trial basis for two years.

In general, the individual reports seek to move forward the ECOTECH agenda to show the progress APEC has made in ECOTECH and to list what cooperative activities economies are considering introducing in response to HRD goals. The rationale behind the focus on individual and cooperative actions is to share best practices among APEC economies.

Economies can choose to enter into the template, projects or programs that they deem worth sharing with other economies. Interested economies viewing the individual actions of a particular economy could then approach that economy to learn from its experiences. At the same time, member economies could find opportunities to participate in existing cooperative actions implemented by other economies, such as training programs and conferences.



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APEC Tourism officials meeting in Ayutthaya, Thailand, on 20-22 November 2001 have drawn attention to the underlying resilienceof travel and tourism in the Asia Pacific region despite the impacts of the 11 September terrorist attacks in the United States of America. Officials noted the limited duration of the impact on the industry of previous events such as the Gulf War in 1991 and terrorist attacks in Luxor in 1997.

The APEC Tourism Working Group discussed tourism in the region in the aftermath of the attacks and consulted with international experts and private sector representatives from the World Tourism Organization (WTO), the World Travel & Tourism Council (WTTC) and the Pacific Asia Travel Association (PATA).

They noted that, as a result of substitution effects and other factors, the immediate impacts varied widely across the region and between sectors of the tourism industry. Falls in tourism arrivals in the period since 11 September had ranked from a few percent in some member economies, such as Thailand, 10 percent in Singapore and up to 21 percent in Chinese Taipei.

Given an average direct contribution from tourism of over 5 percent of GDP across the APEC region, the effects of declines in tourist arrivals of this magnitude on Asia Pacific economies will be substantial.

Serious though these impacts are, especially for particular sectors and businesses within the region's tourism industry, it is anticipated that tourism flows will return to their long term growth path once consumer confidence in key source markets is re-established and probably within the year 2002.

The current situation emphasised the need for sound policy responses that should be developed in close consultation and partnership between public and private sectors. The meeting noted the importance of establishing monitoring mechanisms to identify the scope of the impact and of sharing information with APEC counterparts.

APEC TWG officials welcomed the implementation of measures to strengthen security, both in-flight and on the ground. Traveller safety remains a key component for a sustainable recovery in international tourism. Steps need to be taken to ensure that inconvenience experienced by travellers as a result of enhanced security measures is minimised through the application of technology and investment in supporting infrastructure.

A key lesson from the post 11 September situation is the absence of effective measures to assess the impact on the tourism industry. Data on the industry remains piecemeal, often available only after lengthy delays, and generally do not allow assessment of overall economic impacts on the industry or the economy as a whole. This highlighted the importance of the APEC Tourism Working Group programs such as the Tourism Information Network and the APEC International Centre for Sustainable Tourism. These aim to improve the quality and timeliness of tourism data and research, and to encourage the introduction of measurement instruments, such as tourism satellite accounts in member economies, to support analysis of the economic impacts of the industry.

In the meantime the media need to be kept informed of measures being implemented to ensure traveller security and to assure tourists of the fact that travel within the region is safe and continuing normally. The APEC Tourism Working Group also recognised the important role media and government advisory messages can help play in gaining the confidence of travellers.



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