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APEC ministers adopt roadmap for Asia-Pacific free trade area

November 08, 2014, 11:42 UTC+3 BEIJING
The ministers confirmed intentions to observe the Bogor objectives of 1994, where freedom of trade and investments should be available for all APEC countries by 2020
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BEIJING, November 8. /TASS/. Foreign and trade ministers of the Asia-Pacific Economic Cooperation (APEC) countries adopted on Saturday a roadmap for organisation of a free trade area of the Asia-Pacific (FTAAP).

“In order to translate the FTAAP from a vision to reality, we agree to kick off and advance the process in a comprehensive and systematic manner towards the eventual realization of the FTAAP. We adopt the Beijing Roadmap for APEC’s Contribution to the Realization of the FTAAP which demonstrates APEC’s leadership and commitment to regional economic integration and provides a pragmatic guide to advance work towards the FTAAP in a step-by-step approach, with the goal of establishing the FTAAP as early as possible by building on ongoing regional undertakings. We instruct officials to undertake the actions identified in the roadmap while pursuing the conclusion of initiatives considered as potential building blocks of the FTAAP,” the Joint Ministerial Statement reads.

“We agree to launch a collective strategic study on issues related to the realization of the FTAAP and adopt the Outline of this Study. This study will be built on previous analytical work in APEC, and aim to analyze a wide range of options for expanding Asia-Pacific trade and investment with contributions and support from ABAC, PECC and APEC Study Centers. We instruct the CTI Friends of the Chair Group on Strengthening REI and Advancing FTAAP to organize and lead a task force to undertake the study and report the result to us by the end of 2016.”

Besides, the ministers confirmed intentions to observe the Bogor objectives of 1994, where freedom of trade and investments should be available for all APEC countries by 2020:

“In 1994, APEC Leaders announced the commitment to achieve the goal of free and open trade and investment in the Asia-Pacific, with APEC's industrialized economies to achieve the goal by 2010 and developing economies by 2020. Today, as we gather in Beijing, we remain committed to this core mission. We commit to upholding APEC’s role towards achieving the Bogor Goals by 2020. We urge all economies, particularly developed economies, to deeply consider the outcomes of the Report on APEC's 2010 Economies' Progress towards the Bogor Goals and the 2012 and 2014 Bogor Goals Progress Reports, and to take more concrete actions towards attaining the Bogor Goals.

“We take note on the progress of the study on promoting trade in products which contribute to sustainable and inclusive growth through rural development and poverty alleviation. We look forward to the final report by early 2015,” the Statement reads.

APEC countries agree to have regional anti-corruption organisation

Foreign and trade ministers of the Asia-Pacific Economic Cooperation (APEC) countries have agreed to have Network of Anti-Corruption and Law Enforcement Agencies (ACT-NET), the Joint Ministerial Statement reads.

“We resolve to strengthen pragmatic anti-corruption cooperation, especially in key areas such as denying safe haven, extraditing or repatriating corrupt officials, enhancing asset recovery efforts, and protecting market order and integrity,” the statement reads.

“We endorse the Beijing Declaration on Fighting Corruption (Annex H), the APEC Principles on the Prevention of Bribery and Enforcement of Anti-bribery Laws, and the APEC General Elements of Effective Corporate Compliance Programs.

“We welcome the establishment of the APEC Network of Anti-Corruption and Law Enforcement Agencies (ACT-NET) with the finalization of its Terms of Reference. We expect to deepen international cooperation, information and intelligence exchange and experience sharing among anti-corruption and law enforcement practitioners from APEC member economies through the ACT-NET and other platforms.

“We appreciate the efforts of the Anti-Corruption and Transparency Working Group in collaborating with other APEC fora to improve transparency in this region,” the Joint Ministerial Statement reads.

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