Canberra, 22 March 1999

WTO

1. Minister Fischer and Minister Yosano recognised the importance of promoting further comprehensive multilateral trade liberalisation as a means of building business confidence and supporting world economic growth and development. In this regard, they reaffirmed the importance of the next trade negotiating round starting in 2000. The Ministers agreed that a comprehensive round would best serve the trade interests of the wider membership of the WTO and that developing countries could benefit substantially from active participation in the negotiations. They stressed the significance of close cooperation between the two countries so that they both can contribute to the smooth launching of the next round.

2. The Ministers noted the importance of resisting protectionist pressures and reaffirmed their conviction in the primacy of the multilateral system. They shared the view that the full respect of multilateral rules is essential to maintain the credibility of the WTO and that unilateral action in conflict with such rules must be resolutely avoided.

3. They emphasised that the next round which will be launched at the WTO Ministerial Conference to be held in Seattle in late 1999 should be comprehensive and based on the principle of a single undertaking.

4. The Ministers stressed that the next Round should include negotiations on industrial tariffs, as well as the mandated negotiations on agriculture and services. Ministers also noted the valuable contribution that APEC work has made and can continue to make to the WTO.

5. They also stressed that adequate protection of intellectual property rights is indispensable for the sound development of international trade and investment. They agreed to intensify their two countries' efforts to assist in the full and effective implementation of TRIPS standards in the APEC region.

6. They emphasised that the examination of WTO rules on governmental regulation of electronic commerce should be carried out promptly. The point of departure should be that governments should in principle refrain from interfering in the free flow of data and information in cyberspace.

7. They reached common understanding that the new round of multilateral trade negotiations may provide an opportunity to review multilateral disciplines over trade remedies.

8. They emphasised the importance of active participation by developing countries in the next round and the necessity of closer dialogue with them. The Ministers undertook to intensify their respective efforts to gain support from developing countries for the round.

9. The two Ministers reaffirmed the importance they attached to the early accession of candidates including China to the WTO, on commercially viable terms. They pointed to the advantages for China and the multilateral trading system of the accession being completed in time for China to participate in the new round of multilateral trade negotiations.

10. They reiterated the importance of an early decision on a successor to the current Director-General of the WTO.

APEC

1. They recognised the importance of the Japan-Australia relationship in the community of Asia-Pacific economies. They agreed that APEC would continue into the next decade as the Asia-Pacific community's principal forum for promoting economic co-operation. They agreed to support New Zealand as Chair of APEC in 1999 in promoting its chosen themes of trade and investment liberalisation; strengthening markets; and broadening support for, and improving the effectiveness of APEC.

2. They shared the view that the regional financial crisis has had a serious impact on the real economy, and recognised the urgency to respond to the regional economic crisis. They agreed on the importance of strengthening economic and financial governance, and affirmed that structural and regulatory reform was crucial to a return to sustainable growth. They recognised the importance of formulating strategies to strengthen social safety nets and enhance the business environment of the small and medium enterprises (SMEs) which are the main constituents of the APEC regional economy and have been hard hit by the crisis.

3. They reaffirmed that APEC would take a lead in strengthening the open multilateral trading system. They agreed that APEC would play a role in facilitating a new multilateral round in the WTO. They noted that the timing of the Leaders meeting in September ahead of the Seattle WTO Ministerial Conference was ideal for advancing this objective. In this context, they emphasised the importance of the Trade Ministers meeting in June.

4. They agreed to progress work on EVSL in accordance with the APEC Kuala Lumpur Ministerial Meeting Joint Statement. They noted that the precedent established for the Referral of the first nine sectors should be taken into account in the handling of the tariff elements of the second six sectors. They emphasised the importance of continuing work within APEC on non-tariff elements of all 15 sectors in the EVSL initiative.

5. They agreed to continue improvements and implementation of their Individual Action Plans (IAPs). They agreed with the importance of the IAP review work that will take place this year.

6. They also shared views on the importance of trade and investment facilitation, and the need for input from the business sector which shoulders the costs of inefficient rules and procedures affecting cross-border trade and investment. They expressed their expectation that 1999 APEC outcomes would include a package of practical business facilitation measures and that there would be a constructive outcome from the ABAC process this year, including its meeting in Tokyo in May.

7. They shared the view that it was important to prepare adequately for the Y2K problem in the Asia Pacific region. In order to promote actions to address this problem both sides reaffirmed their support for cooperation in APEC, particularly the APEC Y2K week, including the APEC Y2K International Symposium co-sponsored by Japan, Canada and Singapore.

8. Both sides agreed on the importance of the APEC management review in order to make APEC respond effectively to the instructions from Leaders and Ministers.