APEC Calls for New WTO Round

Trade Minister, Mark Vaile, said today that APEC Ministers had made a strong call for the launch of a new round of negotiations in the World Trade Organisation.

Speaking at the end of the APEC Ministerial Meeting in Brunei, Mr Vaile said APEC Ministers agreed a new WTO round should be launched as soon as possible.

"A new round is absolutely essential to provide greater market access for Australian exporters and to redress the imbalance in world trade rules that especially disadvantage Australian farmers," Mr Vaile said.

"APEC is calling for real progress on the negotiations on agriculture and services already underway in Geneva.  But we are also calling on all WTO members to muster the political will in 2001 to define an agenda for broader negotiations on a balanced WTO agenda.  As one part of the preparation for a new round, APEC is urging all WTO members to contribute positively to work on industrial tariffs," Mr Vaile said.

The APEC Meeting this year has also boosted significantly APEC's credentials in the 'new economy'.  "APEC is now wired for 21^st Century business," Mr Vaile said.

"Australia has been the driving force behind the development of new internet tools to facilitate trade and investment in the region.  As a result of Australia's efforts to revamp APEC's annual report cards, Electronic Individual Action Plans ("e-IAPs") now provide Australian business with streamlined and accessible information on how APEC economies are progressing towards the Bogor Goals of free and open trade and investment," Mr Vaile said. 

During the APEC Meeting, Mr Vaile released a new Australian report, Open Economies Delivering to People: APEC's Decade of Progress, which estimates that reaching the Bogor Goals would add over A$1 trillion to regional GNP.

"This year, Australia has also developed BizAPEC.com, a popular website allowing Australian firms to instantly explore regional business opportunities and check tariffs, customs and standards requirements.  The push towards paperless trading in APEC, with the aim of increasing the speed of customs clearances and making trade administration more transparent, has also been led by Australia.  As a contribution to overcoming the 'digital divide' in the Asia-Pacific, Australia will provide assistance to a number of APEC developing economies to attend a special APEC E-Commerce and Paperless Trading Symposium in Beijing in February 2001," Mr Vaile said.