EVALUATION OF aカジノシークレットPEC FORUM


Since last year's APEC gathering in Seattle, interest has mounted in developing a common set of rules for trade, investment, and other kinds of economic activity in aカジノシークレットsia-Pacific region. The Eminent Persons Group and private-sector organizations have respectively articulated perspectives for future intraregional cooperation. At aカジノシークレットPEC summit this November, the participants in the Ministerial Meeting and in the Economic Leaders' Meeting are expected to discuss trade and investment liberalization and industrial and economic cooperation.

A. Liberalization of trade and investment

aカジノシークレットPEC has considered reductions in tariffs and nontariff trade barriers, communization of standards and approval procedures, and creation of a positive environment for investment. Unfettered activity in the private sector is the chief dynamic in economic growth. And Keidanren supports moves by APEC countries to liberalize trade and investment.

Any moves to establish deadlines for liberalization, however, must take into consideration the big differences among APEC countries, especially in Asia, in cultural background and in stage of economic development. The participants should exert extra efforts to understand and respect each other's circumstances and pursue a suitably flexible agreement. aカジノシークレットhe same spirit, their consideration of such issues as human rights, labor standards, and deliberation protection should be separate and apart from their Deliberation on liberalizing trade and investment.

aカジノシークレットPEC countries have benefited greatly from multilateral trade. In devising measures for liberalizing intraregional trade and investment, they should be careful to ensure consistency with the principles of the GATT and its successor, the World Trade Organization (WTO). The following considerations will be especially important:

  1. Any liberalization should apply fully and unconditionally to countries outside aカジノシークレットPEC region as well as to countries in the region.

  2. Participants should resolve any disputes in a multilateral context.

  3. China should have ample opportunity to participate fully aカジノシークレットhe deliberation on matters of trade and investment.

Some people oppose the idea of applying liberalization measures unconditionally to non-APEC countries. They argue for imposing various conditions in extending "most-favored nation" status to countries outside the region. Conditional access to their markets, they suggest, would be a means of encouraging deregulation in other countries and regions, such as the European Union. They believe that it would help promote worldwide liberalization.

Attaching any conditions to market access, however, could appear exclusionary and projectionist. In any case, it would be counter to aカジノシークレットPEC spirit of "open regionalism."

Meanwhile, countries must not resolve disputes by resorting to discriminatory, bilateral agreements. Nor should take unilateral measures in response to disputes with counterparts. APEC participants should handle all disputes through the GATT/WTO or APEC dispute settlement mechanisms established, or to be established, for that purpose. A commitment to working through those mechanisms is crucial to maintaining multilateral free trade.

In considering the proper role for APEC, participants also need to keep a careful eye on free-trade areas within aカジノシークレットPEC region. Those include the North America Free-Trade Agreement (NAFTA), aカジノシークレットssociation of Southeast Asian Nations Free-Trade Area (AFTA), and Australia-New Zealand Closer Economic Relationship Treaty Agreement (CER).

As for China, it is home to one-fifth of the world's population. It simply must have a voice in shaping a new trade and economic international order aカジノシークレットhe 21st century. Keidanren is in favor of welcoming China and other nonmembers of GATT/WTO into that agreement as soon as possible. aカジノシークレットhe meantime, APEC--whose participants include China and other economies that are not members of the GATT--has an extremely important role to play in conceiving the new international order.

The subjects of deregulating domestic markets and of streamlining the government sector have not received much emphasis in aカジノシークレットPEC debate. That is unfortunate. Governments should not impose arbitrary rules on the private sector in regard to economic activity. Rather, they should deregulate markets to enhance the functioning of the market mechanism, which is the driving force in economic growth. APEC participants therefore should also discuss ways of coordinating their competitiveness policies.

B. Intraregional industrial and economic cooperation

Besides talking about trade and investment liberalization, APEC participants are discussing intraregional industrial and economic cooperation. They are examining the potential for cooperation in such areas as technology transfers, training and education, energy and energy conservation, ocean resources preservation and fishery, transportation, tourism, and telecommunications.

Many Asian countries have inadequate industrial infrastructure and lack the means to provide their people with sufficient training and education. They require assistance from industrialized countries. Developing nations are especially eager for assistance in fostering their supporting industries that supply parts and materials to assembly manufacturers.

Any assistance that APEC's industrialized economies and newly industrializing economies can provide for nation building and human resources development aカジノシークレットheir developing-economy counterparts will improve the investment environment aカジノシークレットhe latter. It will contribute to market expansion and increased economic activities throughout the region.

Industrial and economic cooperation among APEC countries will be impossible, however, without aカジノシークレットctive participation of private-sector companies, who are the principal agents of economic activity. Governments therefore should reflect private-sector views fully in planning and carrying out cooperation projects in the region as well as in policy adjustments and coordination on the government level.