APEC commits to trade and investment liberalisation

Delegates discuss on the reform of the investment climate in APEC member economies at the Investment Experts’ Group (IEG) meeting held in HCM City on Monday. — VNA/VNS Photo Phuong Hoa Promoting trade and investment and reforming the investment climate in APEC member economies were discussed at the Investment Experts’ Group (IEG) meeting held in HCM City on Monday as part of the ongoing third APEC Senior Officials’ Meeting and related meetings. The two-day meeting held under the aegis of the Committee of Trade and Investment saw officials from 21 APEC members and experts from international organizations take part. “One of the big topics is of course the examination of the next generation’s trade investment issues, which is something that APEC members identify as the issue for the future, and we are going to look at them from the investment perspective,” IEG convener Maxim Berdichevsky, said. He told Viet Nam News: “It’s bringing consistency and harmonisation to the investment regime within APEC, and I think it’s part of what we are discussing here. They have to respond to domestic priorities, but we want to make it easy for investors to move their capital within the region to optimise the supply chain and investment.” At the meeting, participants focused on how to improve the investment climate in the Asia-Pacific region and discussed the latest domestic investment policy approaches to improving the investment climate. Australia proposed sharing experiences related to foreign investment with…... [read more]

They gathered at a workshop on FTA Negotiation Skills on Competition of the Committee on Trade and Investment (CTI) which took place in Ho Chi Minh City on August 19 as part of the third APEC Officials Meeting (SOM 3).  CTI Chairwoman Marie Sherylyn Aquia said in her opening remarks that there is a strong relationship between trade and competition policies due to their similarities in objectives. Both trade and competition policy seek to enhance welfare by providing for more efficient allocation of resources, whether it be in lowering trade barriers or through promoting competition, she said.  The official noted that new, comprehensive economic or trade agreements now feature specific provisions or entire chapters to competition-related matters, and that currently, work to negotiate competition policy happens more at regional and bilateral settings.  There is growing recognition that provisions on competition in trade agreements and more generally, better competition policy, foster and improve the efficiency of competition in markets including benefiting consumers and businesses, she said.  Toru Ishiguro, from Japan’s Fair Trade Commission, said competition articles in EPAs make enforcement cooperation between competition authorities easier. Through the dialogue in the negotiation for the competition chapter, each agency builds mutual understanding and trust, which leads to a shared awareness of sound enforcement activities, said Ishiguro. Satoshi Ogawa, a competition lawyer from the Competition Division of the Organisation for Economic Cooperation and Development (OECD), held that competition policies benefit consumers in the short-term and boost…... [read more]

They gathered at a workshop on FTA Negotiation Skills on Competition of the Committee on Trade and Investment (CTI) which took place in Ho Chi Minh City on August 19 as part of the third APEC Officials Meeting (SOM 3).  CTI Chairwoman Marie Sherylyn Aquia said in her opening remarks that there is a strong relationship between trade and competition policies due to their similarities in objectives. Both trade and competition policy seek to enhance welfare by providing for more efficient allocation of resources, whether it be in lowering trade barriers or through promoting competition, she said.  The official noted that new, comprehensive economic or trade agreements now feature specific provisions or entire chapters to competition-related matters, and that currently, work to negotiate competition policy happens more at regional and bilateral settings.  There is growing recognition that provisions on competition in trade agreements and more generally, better competition policy, foster and improve the efficiency of competition in markets including benefiting consumers and businesses, she said.  Toru Ishiguro, from Japan’s Fair Trade Commission, said competition articles in EPAs make enforcement cooperation between competition authorities easier. Through the dialogue in the negotiation for the competition chapter, each agency builds mutual understanding and trust, which leads to a shared awareness of sound enforcement activities, said Ishiguro. Satoshi Ogawa, a competition lawyer from the Competition Division of the Organisation for Economic Cooperation and Development (OECD), held that competition policies benefit consumers in the short-term and boost…... [read more]

NDO/VNA – Officials from the member economies of the Asia-Pacific Economic Cooperation (APEC) forum have highlighted the benefits of establishing competition chapters in free trade agreements (FTAs) and Economic Partnership Agreements (EPAs). They gathered at a workshop on FTA Negotiation Skills on Competition of the Committee on Trade and Investment (CTI), which took place in Ho Chi Minh City on August 19, as part of the third APEC Officials Meeting (SOM 3). CTI Chairwoman Marie Sherylyn Aquia stated in her opening remarks that there is a strong relationship between trade and competition policies due to their similarities in objectives. Both trade and competition policies seek to enhance welfare by providing for a more efficient allocation of resources, whether in lowering trade barriers or through promoting competition, she said. The official noted that new, comprehensive economic or trade agreements now feature specific provisions or entire chapters on competition-related matters and that currently, work to negotiate competition policy happens more frequently in regional and bilateral settings. There is a growing recognition that provisions on competition in trade agreements improve competition policies and foster and improve the efficiency of competition in markets, including benefiting consumers and businesses, she said. Toru Ishiguro, from Japan’s Fair Trade Commission, said competition articles in EPAs make enforcement cooperation between competition authorities easier. Through the dialogue in the negotiation for the competition chapter, each agency builds mutual understanding and trust, which leads to a shared awareness of sound enforcement activities, said Ishiguro. …... [read more]

NDO/VNA – Officials from the member economies of the Asia-Pacific Economic Cooperation (APEC) forum have highlighted the benefits of establishing competition chapters in free trade agreements (FTAs) and Economic Partnership Agreements (EPAs). They gathered at a workshop on FTA Negotiation Skills on Competition of the Committee on Trade and Investment (CTI), which took place in Ho Chi Minh City on August 19, as part of the third APEC Officials Meeting (SOM 3). CTI Chairwoman Marie Sherylyn Aquia stated in her opening remarks that there is a strong relationship between trade and competition policies due to their similarities in objectives. Both trade and competition policies seek to enhance welfare by providing for a more efficient allocation of resources, whether in lowering trade barriers or through promoting competition, she said. The official noted that new, comprehensive economic or trade agreements now feature specific provisions or entire chapters on competition-related matters and that currently, work to negotiate competition policy happens more frequently in regional and bilateral settings. There is a growing recognition that provisions on competition in trade agreements improve competition policies and foster and improve the efficiency of competition in markets, including benefiting consumers and businesses, she said. Toru Ishiguro, from Japan’s Fair Trade Commission, said competition articles in EPAs make enforcement cooperation between competition authorities easier. Through the dialogue in the negotiation for the competition chapter, each agency builds mutual understanding and trust, which leads to a shared awareness of sound enforcement activities, said Ishiguro. …... [read more]

The public in the Asia-Pacific region and other parts of the world highly valued the results of the meeting and other important events held during the APEC Week, considering them the prerequisites for APEC to develop stronger, more dynamically and efficiently. In the spirit of openness, friendliness and mutual understanding, leaders of the 21 APEC member economies had discussions and dialogues on the APEC process. Particularly, during the two-day meeting, they spent much time discussing the two main topics: (1) Promoting trade and investment in a changing world, and, (2) Fundamentals ensuring dynamism, growth and sustainable development in APEC. For the first topic, they focused their discussions on the Doha Round of negotiations, regional trade agreements and free trade agreements (RTAs/FTAs), the Hanoi Action Plan to implement the Busan Roadmap, and measures to achieve the Bogor Goals. For the second topic, they touched upon issues relating to human security, technical and economic cooperation and APEC reform. In this spirit, APEC leaders reached a high consensus on measures to achieve the Bogor Goals on trade and investment liberalisation, take urgent action to resume the Doha round, and carry out the APEC reform package to make APEC’s economic, trade and investment activities more efficient and dynamic for sustainable development and prosperity. The results from the meeting were reflected in the three important documents adopted by APEC leaders, namely the Hanoi Declaration, the Hanoi Action Plan to implement the Busan Roadmap towards the Bogor Goals, and the APEC Reform Package. In the Hanoi…... [read more]

Under the theme of “Towards a dynamic community for sustainable development and prosperity”, the APEC Summit 2006, Vietnam’s most important diplomatic event this year, is expected to mark the beginning a new period of building an economic community in the Asia-Pacific region. From barely 12 members in 1989, the grouping now boasts 21 members, most of them being members of the World Trade Organisation (WTO). Of the total, three are permanent members of the United Nations Security Council and four belong to the group of the world’s leading industrialised countries. Over recent years, APEC has emerged as a dynamic economic region in the world, making up nearly 50 percent of total global trade, 60 percent of global GDP and 40 percent of the population. Its operations are based on the principles of equality, mutual benefit, consensus and voluntarism. At a meeting in Indonesia in 1994, APEC economic leaders set a target of building a free, open trade and investment area in the Asia-Pacific region by 2010 for developed economies, and by 2020 for developing economies due to different levels of development and interest. At the 13th APEC Meeting in the Republic of Korea in 2005, APEC economic leaders adopted the Busan Roadmap to achieve the Bogor Goals.Despite the impact of fluctuations in the oil market last year, APEC still secured an economic growth rate higher than the global level. This proved that the Bogor Goals for a free, open trade and investment area have become a driving force behind the…... [read more]

With its advantages, the agreement is capturing great attention from other APEC countries that do not want to be left behind in this dynamic economic region. The TPP, which was put forward by US President Barrack Obama at the 17th APEC summit in Singapore in 2009, is being negotiated by Australia, Brunei, Chile, New Zealand, Malaysia, Peru, Singapore, the US and Vietnam. While attending the 19th APEC summit in Honolulu, Hawaii earlier this week, the leaders of these nine countries reached a consensus on the broad outlines of the agreement, which will help enhance trade and investment, spur economic growth and generate jobs. Specialists say once negotiations conclude, the TPP will pave the way for developing a free trade area in the Asia-Pacific region (FTAAP) in the near future. By joining the TPP, the member countries will have comprehensive access to each other’s markets, with tariffs and other barriers to goods and services being eliminated which will create new opportunities for workers and businesses and bring immediate benefits to consumers. A fully regional agreement will be reached to facilitate production and supply chains among TPP members, aiming to create jobs, raise living standards, improve welfare and promote sustainable growth in member countries. The agreement will build on work being done in APEC and other forums by incorporating four new cross-cutting issues, namely regulatory coherence, competitiveness and business facilitation, small- and medium-sized enterprises, and development. It will promote trade and investment in innovative products and services, including those related to the…... [read more]

The two-day event was also attended by representatives from the Association of Southeast Asia Nations (ASEAN), the World Trade Organisation (WTO), the Pacific Economic Cooperation Council (PECC), and the APEC Secretariat. A number of issues and initiatives will be tabled in order to prepare for the APEC Summit, which is set to take place on Indonesia's resort island Bali in October. Trade and investment liberalisation will lie at the heart of the discussion. Trade ministers will focus on ways to develop infrastructure, promote investment and restructuring to establish a free and open trade area by 2020. Giata Wirijawan, Indonesian Minister of Industry and Trade cum Chairman of the event, stressed the importance of APEC in the global economy as it makes up as much as 56 percent of GDP and 44 percent of trade of the world. He emphasized the fundamental role of infrastructure in APEC’s process to connect and integrate with regional economies, the economic recovery, and sustainable economic growth and equality among Asia-Pacific economies. A number of issues to support the multilateral trade system and APEC’s priorities in 2013 are also under discussion, such as increasing exchanges and sharing experience in improving management capacity, promoting connectivity among APEC members and intensifying women’s involvement in economics and human resource development. The Vietnamese delegation led by Minister Vu Huy Hoang is scheduled to take part in bilateral meetings on the sidelines of the conference with officials from the US, the Republic of Korea, New Zealand, Russia, China and Canada to…... [read more]

The Vietnamese delegation was led by Minister of Industry and Trade Vu Huy Hoang and the Eurasian Economic Commission led by Eurasian Trade Minister Andrei Slepnev. Ten working groups discussed a wide range of issues relating to commodity trade, product-specific rules of origin, trade services, customs management, trade and investment facilitation, intellectual property, legislation, institutions, and trade safeguarding measures. The negotiations took place in a constructive, frank and cooperative spirit with a view to harmonising all standpoints and balancing interests of parties concerned. Negotiators said progress was made in the third round compared to the previous one in Moscow. They completed in principle several chapters concerning competition, technical barriers, regulations on food hygiene, animal and plant quarantine, customs, and sustainable development. Both sides agreed to consult and complete other chapters before the fourth round to be held in Vietnam from December 9-14. They agreed to speed up negotiations between working groups to finalise the content of the agreement by the end of 2013. Negotiations will focus on technical matters in 2014. Established in 2007, the Customs Union covers a combined area of more than 20 million square kilometres with a total population of 170 million. The union has an annual GDP value of approximately US$2,000 billion total trade value of US$900 billion. The FTA, which promotes trade and investment liberalisation, is expected to strengthen political, economic, trade, investment and cultural cooperation between Vietnam and Russia, Belarus and Kazakhstan when it is signed.... [read more]




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