Average tariff levels in APEC economies continue to fall, and more trade is taking place at low tariff levels between zero and five per cent, according to Trade Minister Mark Vaile.

The proof is contained in an Australian report released today that examines the levels of tariff reductions in APEC economies.

"The Australian report, APEC Progress on Tariffs: Implications for a New Agenda, has been prepared for the APEC Ministers Responsible for Trade Meeting which I am attending in Shanghai, China, this week," Mr Vaile said.

"Of the estimated total APEC imports of US$2 trillion in 2000, almost three-quarters of goods imported, US$1.75 worth, were subject to tariffs of only five per cent or less - an increase of 17 per cent from 1995.

"Lower tariffs have also had a positive impact on exports, including by providing lower cost inputs to higher value-added products."

Mr Vaile welcomed the report as evidence of APEC's efforts to open markets but stressed that much more needed to be done, particularly in areas such as agriculture and processed food products where tariff barriers to trade remained high.

"The report also noted that APEC would need to cut other non-tariff barriers to trade if the benefits of open markets were to be maximised," Mr Vaile said.

APEC comprises: Australia, Brunei, Canada, Chile, China, Hong Kong (China), Indonesia, Japan, Peru, The Republic of Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, Philippines, Russian Federation, Singapore, Chinese Taipei, Thailand, US and Vietnam.

Contact: 
James Baker (Ministerial) 0011 86 139 1666 0471
Nicole Guihot (Departmental) 02 6261 1555