Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Leaders Call For Free & Open Trade & Investment


11 October 2002


Business leaders call for free and open trade and investment

In a report to the Leaders of the APEC economies, Asia-Pacific business leaders are calling for APEC economies to reaffirm their commitments to the Bogor Goals for free and open trade and investment.

A new report by the APEC Business Advisory Council (ABAC), the private sector arm of the 21 member Asia-Pacific Economic forum, says APEC should work with a sense of urgency to support the recovery of the global economy.

Key messages to Leaders include the call for APEC economies to reaffirm commitments to the Bogor Goals of free and open trade and investment in the region by 2010 for developed countries and 2020 for developing countries, and to undertake initiatives to secure desirable outcomes from WTO negotiations. An early harvest in reduction of agricultural subsidies and anti-dumping actions should be pursued.

The report also highlights the effects of terrorism on the entire business environment, saying it stifles and erodes confidence. “The APEC community must therefore join forces to enhance security, curtail terrorist financing and develop effective management processes to resist, respond and recover from crises.”

ABAC New Zealand representatives are: Sir Dryden Spring, Asia 2000 Chairman, ABAC Business Facilitation Task Force Chairman, and Fletcher Forests Chairman; Peter Masfen, Montana Group Executive Chairman; and Wendy Pye, Wendy Pye Group Managing Director.

Speaking in Wellington today, Sir Dryden said the report made it clear that there is considerable uncertainty about the global economy - heightened by the collapse of asset prices and major corporate governance failures. Concerns about security, since September 11 last year, have also affected business decisions as well as the flow of commerce.

He said that along with ABAC’s key messages to APEC economy Leaders, ABAC is particularly calling on Leaders to:

- Take urgent action to free up access and eliminate export subsidies in agricultural products.

- Take urgent action to restore investor confidence by way of measures to improve corporate governance standards and practices, and promote the transparency of policies affecting trade and investment.

- Undertake concerted public and private sector action aimed at promoting economic growth, and restoring confidence and integrity in financial systems, markets and companies.

- Remove impediments in the economic and business environment to free the entrepreneurial spirit in our populations - redoubling efforts to create an enabling environment for small and medium enterprise growth through reduced compliance costs and improved access to information, technology and financing.

- Improve communication of the benefits of trade liberalisation and regional integration in order to generate momentum to achieve the Bogor Goals.

- Implement the APEC Food System and in particular renounce the use of food embargoes.

The report says APEC is at the halfway point towards the Bogor Goals, and must take decisive steps to reenergise itself and build momentum.

ABAC members will formally present their report to APEC Leaders when they meet in Los Cabos, Mexico, October 21-24.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Scoop 3.0: How You Can Help Scoop’s Evolution

We have big plans for 2018 as we look to expand our public interest journalism coverage, upgrade our publishing infrastructure and offer even more valuable business tools to commercial users of Scoop. More>>

Statistics: Butter At Record $5.67/Block; High Vegetable Prices

Rising dairy prices have pushed food prices up 2.7 percent in the year to October 2017, Stats NZ said today. This followed a 3.0 percent increase in the year to September 2017. More>>


Science: New Research Finds Herbicides Cause Antibiotic Resistance

New University of Canterbury research confirms that the active ingredients of the commonly used herbicides, RoundUp, Kamba and 2,4-D (glyphosate, dicamba and 2,4-D, respectively), each alone cause antibiotic resistance at concentrations well below label application rates. More>>


CO2 And Water: Fonterra's Environment Plans

Federated Farmers support Fonterra’s bold push to get to zero emissions of CO2 on the manufacturing side of the Co-operative, both in New Zealand and across its global network. More>>


Fisheries: Decision To Delay Monitoring ‘Fatally Flawed’

Conservation group representatives say a decision by the new Minister of Fisheries, Stuart Nash, to delay implementation of camera monitoring of fishing efforts in New Zealand is ‘fatally flawed’. More>>


Kaikōura Quakes: One Year On

State Highway One and the railway were blocked by damage and slips and the Inland Road suffered significant damage. Farms, homes and businesses suffered building and land damage. Power and internet went down, drinking water systems, sewage systems and local roads were all badly affected... More>>


  • Bill Bennett on Tech