APEC leaders to strongly push forward multilateral trade talks: Thai PM

cctv.com 10-18-2003 18:01

Thai Prime Minister Thaksin Shinawatra said in Bangkok on Saturday that leaders of the Asia-Pacific Economic Cooperation (APEC) forum will firmly commit themselves to strongly pushing forward the Doha Round of multilateral trade talks for "a successful conclusion" when they meet early next week.

"I believe APEC leaders will muster enough political will to send a strong and clear message that APEC is firmly committed to the multilateral trade system and a successful and timely conclusion of the Doha development round," Thaksin said in the opening address to the meeting of the APEC Business Advisory Council (ABAC).

As the APEC leaders discuss the "failure" of the World Trade Organization (WTO) ministerial meeting in Cancun, Mexico, they will aim for "an ambitious, yet pragmatic outcome," said the Thai prime minister who will chair the Oct. 20-21 APEC Economic Leaders Meeting. "The failure of Cancun is by no means the end of the WTO," he added.

Stressing that efforts should be redoubled to make the Doha Round a success, he said all the parties need to focus on the issues that matter most to relevant economies.

"The sticking point (in the trade negotiations) is that many governments are beholding to the interests of powerful domestic groups. These groups resist liberalization and oppose elimination of agricultural subsidies," said Thaksin.

He said the business community can help the cause by urging the governments "loud and clear" to pursue policy of free and open trade, to open their markets and to eliminate subsidies.

"You can show them that the domestic producers and industries are ready for trade liberalization and fair competition," he said.

While the multilateral trade talks negotiations remain the primary vehicle for free and open trade, bilateral and regional efforts to liberalize trade and investment are consistent with the reinforcing of the WTO, he added.

This year's APEC annual meetings come one month after the Cancun meeting failed to achieve breakthrough in the Doha Round talks.

In the meantime, the Thai leader called on governments and business community to cooperate closely to "function most and compliment each other."

Government has the duty to quickly respond to the need of business community, while the business community must assist government in achieving the goals of economic growth and development, he said. "They are just like a pair of chopsticks that have to work in pair."

The Thai prime minister also spoke of the "inseparable" link between security and prosperity.

"While the business communities are very concerned about the cost burden that security measures may impose, they must keep in mind the risk cost of not having such measures in place," he said.

"What is important is to strike a right balance between security and efficiency," he added.

He said the APEC should remain in regular consultation with the business communities to ensure that any security measures to be taken will not have any "adverse impact" on trade and investment.

As to capacity building, Thaksin said that APEC will take concrete measures for capacity building, which he said "will eventually enable us to survive and thrive under globalization."

"We firmly believe that empowering people with knowledge is the best investment you can make," he said.

Speaking of the efforts to improve transparency in trade, Thaksin said that the business community will have to take the lead in the area while government serves as "a facilitator" and "a sponsor of laws."

With regard to the facilitation of business input to the APEC process, he said APEC has taken every necessary step to include the business sector in the process.

"Public and private sectors are the inseparable pair for attaining economic growth," he said

The Business Advisory Council is the private sector arm of the APEC forum. APEC Economic Leaders established ABAC in 1995 as a permanent forum to advise APEC officials on the role of the private sector in the broader pursuit for open trade and investment in the Asia Pacific rim. ABAC provides APEC groups with business perspectives on specific areas of cooperation.

ABAC has a dialogue with APEC Economic Leaders during the annual leaders' meeting. It also meets four times a year and sends a representative to APEC meetings.

Editor:Zhong  Source:Xinhua News Agency