APEC's Smarter Electronic Individual Action Plans

APEC has sharpened up its tools for meeting the Bogor Goals with the launch of the electronic Individual Action Plan or "e-IAP", Trade Minister, Mark Vaile, said today on the second day of the APEC Annual Ministerial Meeting in Brunei.

"Last year, APEC Leaders called for APEC's annual report cards to be made more transparent, specific and comprehensive," Mr Vaile said. 

"The electronic Individual Action Plan provides a new interactive website to present liberalisation information in a more user-friendly form.  Australia has taken the lead in revamping the IAPs, which outline how each economy plans to reach the Bogor Goals of free and open trade and investment in the region. 

"The electronic IAP is a more valuable tool for tracking and encouraging liberalisation in APEC.  It also provides Australian business with better information on the policy settings and directions of Australia's major trading partners. 

"IAPs submitted in 2000 have again demonstrated the value of this peer-review process.  Virtually all economies reported tariff reductions.   For example, Japan has eliminated tariffs on 576 pharmaceutical products.  Chile has reduced its across-the-board applied tariff by 1 percentage point to 9%, and committed to reduce it further to a level of 6% by 2003.    Indonesia reduced tariffs on 940 lines, bringing nearly two-thirds of its tariffs to 5% or less.

"Important advances have also been made in reducing non-tariff barriers.    For example, China has replaced quantitative restrictions on sugar, natural rubber and cotton with tariff quotas.  Extensive privatisation and deregulation steps were reported in telecommunications, financial services and air services by a range of economies.  Thailand and Peru have also announced their decision to join the Australian-led APEC Business Travel Card scheme, bringing the total number of participating economies to ten," Mr Vaile said.

Details of the Individual Action Plans can be found via the APEC website (www.apecsec.org.sg).

Contact:  John Kunkel in Brunei (08) 740 358; from Aust. (6738 740 358)