Friday, 30 May 2003 - MVT38/2003

Vaile to Advance Trade Objectives in APEC and Comprehensive FTA with Thailand

Trade Minister Mark Vaile will push for strong APEC support for the Doha round of world trade negotiations and for accelerated negotiations on an Australia-Thailand free trade agreement (FTA) in Thailand next week.

Mr Vaile will visit Thailand from 1-4 June to attend the APEC Ministers for Trade meeting and to hold talks with Thai ministers.

“The meeting of APEC trade ministers comes at a crucial time in the lead up to the 5th World Trade Organisation (WTO) Ministerial Meeting in Cancun in September and I will be urging APEC members to send a strong message on the critical importance of delivering renewed impetus to the Doha round,” Mr Vaile said.

“A successful Doha round is of fundamental importance to the future trade and economic growth prospects of all APEC economies. Reform of agriculture trade remains at the core of the WTO negotiating agenda and is a central issue for many developing countries in APEC as well as for Australia.

“The APEC meeting will continue efforts to reduce obstacles to trade and investment, including through its trade facilitation initiative which promises a 0.9% or $US154 billion rise in GDP in the Asia Pacific.

“Ministers will also discuss counter-terrorism initiatives to protect trade and will explore options to contain the SARS virus and to minimise its impact on economic activity in the APEC region.”

During his visit, Mr Vaile will meet with Thailand’s Prime Minister, Thaksin Shinawatra and other senior Thai ministers, to take stock of progress in the negotiations for a free trade agreement with Thailand.

“An FTA with Thailand that removes barriers to trade and investment across the board promises to deliver substantial benefits for Australia,” Mr Vaile said.

“The negotiations on tariffs and market access restrictions are now entering an intensive phase and solid progress is being made across a number of areas. Much remains to be done but I am confident a successful outcome is achievable.”

Mr Vaile will also discuss developments on the Australia US FTA with US Trade Representative Zoellick and will meet separately with Director-General of the WTO, Dr Supachai.

Contact:  Matthew Doman 02 6277 7420