World Video | Defence | Foreign Affairs | Natural Events | Trade | NZ in World News | NZ National News Video | NZ Regional News | Search

 


APEC addressing changing growth patterns: Bollard

Issued by the APEC Secretariat

Hong Kong, China, 13 Jan 2014 - “We are now seeing a shift toward domestic demand-driven growth and an increase in services trade as opposed to predominantly trade-driven growth that focused on manufactured and processed goods that occurred in region over the last three decades,” explained Dr Alan Bollard when he delivered a keynote speech in Hong Kong, China on Monday.

Dr Bollard, the APEC Secretariat’s Executive Director, made this assessment when delivering remarks on the changing patterns of trade and investment influencing growth in the Asia-Pacific and the way trade moves across economies through new initiatives at the border and across the border at the Asian Financial Forum where he addressed members of the global financial and business community.

These changing growth patterns, coupled with the increasingly complex way goods and services move across borders, from e-commerce to value-added supply chains, are impacting the economic environment and the way APEC addresses cross-border trade.

“Most production used to be “made-here/sold-there” and was vertically integrated within large firms,” said Dr Bollard. “Rules of origin and value-added were simple concepts.”

“But today, we are seeing an increase in intermediate goods, intra-industry trade and supply chains, which use border transactions more aggressively and help SMEs to globalise,” he continued. “As a result, rules of origin and value added are much more complex.”

For example, the Apple iPhone supply chain is a complicated web that extends throughout the Asia-Pacific region. With research, development and design in the United States to chip manufacturing in Malaysia, fingerprint sensors fabricated in Chinese Taipei and inductor coils made in Japan, the Apple iPhone eventually ends up in China for final assembly.

In response to this web of cross-border movement and subsequent increased intra-APEC trade, APEC’s Supply Chain Connectivity initiative streamlines border regulations so supplier components can seamlessly move across regional boundaries.

“Today, efficient borders are recognised as a source of competitive advantage,” explained Dr Bollard. “APEC members are working toward reducing the red tape and heavy policing that slows down goods getting across borders.”

“Increasingly border regulation in APEC member economies is being streamlined through single window, harmonised, contracted operations.”

However, as borders become more open, criminal and undesirable movements can take advantage. As a result, APEC is working on new technologies and international arrangements to help deter this.

“As APEC innovates new initiatives to accelerate economic integration in the Asia-Pacific, we are moving toward frontiers of the future and the Free Trade Area of the Asia-Pacific (FTAAP), as envisioned by APEC Economic Leaders,” concluded Dr Bollard.

“We will always have international borders, but we can ensure they are configured to promote trade and regional prosperity.”

ENDS

© Scoop Media

 
 
 
 
 
World Headlines

 

Amnesty: Campaign Mass Hangings And Extermination At Syrian Prison

A chilling new report by Amnesty International exposes the Syrian government’s calculated campaign of extrajudicial executions by mass hangings at Saydnaya Prison. Between 2011 and 2015, every week and often twice a week, groups of up to 50 people ... More>>

Russian Hack Job?: White House - Actions In Response To Russian Malicious Cyber Activity & Harassment

President Obama authorized a number of actions in response to the Russian government’s aggressive harassment of U.S. officials and cyber operations aimed at the U.S. election in 2016. More>>


Israel/Palestine: Michael Field - Background To How Israel Nearly Went To War With New Zealand

New Zealand and Senegal managed to get the United Nations Security Council to pass resolution 2334 which said Israel’s settlements in Palestinian territory violate international law and undermine a two-state solution in Israel's conflict with Palestine. More>>

ALSO:

US Indigenous Affairs: How President Obama Has Protected Our Sacred Land

I am very proud to be both Navajo and American. As the President of the Navajo Nation, I’ve dedicated my life to ensuring that, as a Navajo, my story -- and our stories -- are part of our collective American history. Today, I want to share one of those stories with you. More>>


Binoy Kampmark: The Berlin Truck Attack And The Refugee Question

The hard-nosed neo-cons were certainly showing little interest in linking arguments, examining evidence, or even considering elementary logic in the aftermath of the Berlin truck attack near the Gedächtniskirche. With the bodies fresh in the morgue, former US ambassador to the United Nations, John Bolton, peered into the mind of the everyday German, and found teeth chattering fear. More>>

Demonetisation: Gordon Campbell On India’s Huge Socio-Economic Experiment

Without much coverage at all in the West, India has just been engaged for the past few weeks in one of the world’s biggest socio-economic experiments since the Cultural Revolution in China. More>>

Gordon Campbell: On The Death Of Fidel Castro

New Zealand likes to think we played our part – via the 1981 Springbok tour – in bringing the apartheid regime in South Africa to an end… Jacob Zuma treated the death of Fidel Castro at the weekend as an occasion to pay a heartfelt tribute to the thousands of Cuban soldiers who travelled across the world to inflict the first significant military defeat on the forces of white supremacy. More>>

ALSO:

Get More From Scoop

 
 
 
 
World
Search Scoop  
 
 
Powered by Vodafone
NZ independent news