APEC Leaders Seek to Advance Efforts on Supply Chains, Trade Restrictions
Talks on trade and economic issues among the leaders of the 21 member countries of the Asia-Pacific Economic Cooperation forum in Indonesia Oct. 8 yielded statements of support for ongoing trade liberalization efforts as well as some new commitments. According to a State Department fact sheet, APEC leaders agreed to take the following steps.
- extend through 2016 their commitment to refrain from imposing new trade restrictive measures
- establish a fund to help members achieve the goal of a 10% improvement in supply chain performance by 2015
- address local content requirements by agreeing on alternative ways to promote job creation and domestic manufacturing
- establish a public-private dialogue on environmental goods and services
- combat illegal trade in wildlife by taking action to reduce demand and increase public awareness of the impacts of wildlife trafficking
- establish an APEC Network of Anti-Corruption Authorities and Law Enforcement Agencies to strengthen cooperation against corruption, bribery, money laundering and illicit trade
Existing initiatives that leaders pledged to continue to pursue include rolling back protectionist and trade-distorting measures, establishing free and open trade and investment among APEC countries by 2020, strengthening implementation of good regulatory practices, lowering tariffs on environmental goods and services to 5% or less by 2015, creating ethical business environments, and refraining from export restrictions and WTO-inconsistent trade measures on food.