|APEC to cite TPP as free-trade pathway: Draft|
5 NOVEMBER 2010: An outline of a draft of the APEC Leaders' Declaration, for November's Yokohama conference, indicates that the forum will refer to a US-backed multilateral trans-Pacific free trade agreement as a 'pathway' to creating a region-wide free trade area.
The draft, obtained by Kyodo News, allegedly cites an expanded TPP agreement as a method of acheiving a Free Trade Area of the South Pacific. The draft also recommends that APEC 'incubate' that long-term goal.
Japanese proponents of free-trade and the TPP Agreement are understood to be hopeful that Japan's chairing of APEC this year, combined with the significance of committing to an developing network of agreements at the APEC leaders' meeting, would mean that the country assumed an decisive and leading position in continued talks. However, as TPPDigest has reported, the question of joining the TPP has proved divisive throughout Japanese political culture over the past month.
APEC to refer to Pacific FTA as pathway to free trade area: draft
TOKYO, Nov. 3, (Kyodo) -- The Asia-Pacific Economic Cooperation forum will refer to a U.S.-backed multilateral trans-Pacific free trade agreement as one of the "pathways" to achieve a region-wide free trade area, an outline of a draft of the leaders' declaration showed Wednesday.
At the annual APEC summit meeting in Yokohama on Nov. 13 and 14, the 21-member forum is planning to specify for the first time in its declaration the possible efforts to realize the long-term goal of creating a Free Trade Area of the Asia Pacific.
The draft, obtained by (Kyodo) -- News, says APEC should take a step toward realizing the FTAAP, and that one of the two pathways to realize it is to promote a comprehensive free trade agreement based on efforts by regional frameworks such as the "ASEAN plus three," the "ASEAN plus six" and the Trans-Pacific Partnership agreement.
The ASEAN plus three groups Japan, China, South Korea and the 10-member Association of Southeast Asian Nations, while the ASEAN plus six adds Australia, India and New Zealand to the 13 countries.
Another pathway is to accelerate efforts for regional economic integration in certain areas such as investment and services, the draft says.
The draft also says APEC should serve as an "incubator" to realize the FTAAP.
Japan is currently considering joining the negotiations for the TPP. The TPP originated in a free trade agreement between Brunei, Chile, New Zealand and Singapore, and negotiations are under way to expand it with another five APEC countries, including major agricultural exporters such as the United States and Australia.
But as members are expected to be required in principle to reduce all tariffs to zero, there are concerns in Japan that farmers may suffer if Tokyo joins the TPP because of an expected influx of cheaper agricultural products.
Meanwhile, the draft outline does not include any specific timeline to create the FTAAP.
Japan assumed the rotating chair of APEC this year, following 1995. A series of ministerial meetings will culminate in the summit in Yokohama at which the joint declaration will be issued.
APEC, which accounts for more than half of the world's economic output and 44 percent of global trade by value, also includes among its members Peru, Russia, Taiwan and seven ASEAN members.
(Mainichi Japan) November 4, 2010
|Last Updated on Friday, 05 November 2010 03:40|