APEC business leaders appeal to action on Doha Round

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According to Mr. Hoàng Văn Dũng, ABAC 2006 Chair, the success of the multilateral round is important for all APEC member economies and the world. The Doha Round can improve the standards of living in all APEC economies through lowering tariffs, opening goods and services markets, addressing non-tariff barriers and promoting trade facilitation.

“ABAC is the most significant meeting of the region’s business community,” said Mr. Dũng. “ABAC has been proactive in pushing for a resumption of the Doha Round. In September, representatives of the region’s business community met with the Confederation of European Business (UNICE) and the World Trade Organization to promote the importance of freeing up world trade to the Asia Pacific”. The meeting with APEC leaders late this week will provide the business community with an opportunity to stress the significance of the Doha Round and give the leaders more time for action and consider a return to the negotiating table.

ABAC also discussed and set up a number of priorities vital to business interests and economic prosperity of the region for 2007, focusing on the following issues:

Finance and economy: Strengthening private capital markets and improving financial stability; Increased focus on capacity building and market opening initiatives, including enhancing access to capital for small and medium enterprises (SMEs)

Liberalization: Resumption of WTO/DDA negotiations; Liberalization ideas including core principles of the Free Trade Area Asia-Pacific (FTAAP); Investment and services; Capacity building

Facilitation: Transparency and ease of doing business; Standards; Security of movement of people and goods

Technology and information: Energy security and climate change; Intellectual property rights

Action plan and APEC resources: Individual Action Plan Review (IAPR) process; Response to regional emergencies; Promotion of SMEs; Strengthening APEC as an institution.

By Xuân Hồng