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

 


APEC China 2014 commences in Ningbo

Ningbo, China, 22 Feb 2014 - The curtain has risen on APEC China 2014 in the eastern port city of Ningbo where member economies are gathered to strengthen regional integration and trade flows needed to capture greater consumption-based growth.

Building support for comprehensive, high quality trade agreements, and the next steps towards realizing APEC economies’ goal of a Free Trade Area of the Asia-Pacific, or FTAAP, are among the issues that Senior Officials and technical specialists will seek to take forward here through the coming week.

This is in line with the framework and priorities of cooperation within APEC during China’s year as host economy. They include “Advancing Regional Economic Integration,” “Promoting Innovative Development, Economic Reform and Growth” and “Strengthening Comprehensive Connectivity and Infrastructure Development.”

“Experience over the last 25 years has shown to the world the progress APEC economies can achieve when we bring our markets closer together,” said Li Baodong, Vice Foreign Minister of China and Chair of APEC Senior Officials in 2014. “It’s essential that we break new ground to keep growth headed in the right direction and jointly tackle the economic and social challenges of development.”

“Part of the equation is building our capacity to ensure the kind of access businesses need to better trade and invest in each other’s markets,” Vice Minister Li explained. “It’s also figuring out how advancements in the regional architecture, which cooperation within APEC has been instrumental in delivering, can position us to achieve our long-term objectives like an FTAAP.”

APEC Senior Officials will meet on 27-28 February, after a cluster of APEC working group meetings now underway in Ningbo to address the technical aspects of trade development and greater economic integration. This weekend, Trans Pacific Partnership negotiations in Singapore conclude as well.

“The future of growth rests, to a large extent, on freer markets and lower barriers at and behind-the-border as demand for goods and services in the Asia-Pacific rises,” said Dr Alan Bollard, the APEC Secretariat’s Executive Director. “APEC economies are leading efforts to address “next generation” trade issues that a future FTAAP could contain and which are starting to catch hold within the WTO as we saw with the Bali Package and its parallel focus on customs simplification.”

“The collaboration taking place in Ningbo is critical to ensuring that APEC economies successfully implement their commitments to reduce tariffs on a list of environmental goods, build the reliability of supply chains and improve the ease of doing business in the region by next year,” Dr Bollard added. “Following through will provide an additional boost to the global trading system and support our pursuit of more ambitious measures to achieve higher quality growth.”

APEC economies are furthermore moving ahead with the formulation of a blueprint for enhancing seamless connectivity in the region and implementation of a complementary multi-year plan on infrastructure development and investment that was endorsed by APEC Leaders in Bali. Work to establish a new Public-Private Partnership Center, to be based in Indonesia, is a component of this initiative and will help to strengthen the infrastructure financing landscape.

APEC Finance Deputies explored the issue of sustainable financial resources for connectivity and infrastructure development recently in Bo’ao, China and laid the foundation for action.

Other points of emphasis include improving mobility in the region through the expansion and improvement of the APEC Business Travel Card program by immigration, customs and security authorities. Education officials are also positioning member economies to raise the number of intra-APEC university level students per year to one million by 2020, a target that was introduced last year and would represent an estimated 25 percent jump.

ENDS

© Scoop Media

 
 
 
 
 
World Headlines

 

Russia Supports Indonesia`s Possible Move To Buy Sukhoi 35

Jakarta (ANTARA News) - The Russian government supports Indonesias wish to buy the multipurpose fighter jet Sukhoi 35 to enhance the countrys air force. More>>

W International Monetary Fund Downgrade Global Growth Forecast

20 January 2015 – Despite a sharp decline in oil prices, the International Monetary Fund (IMF) in its latest economic outlook today lowered growth expectations for this year and the next for most countries due to slowdown in investment, and urged governments ... More>>

ALSO:

UN Rights Expert Cancels Visit To Palestinian Territory

Israel’s lack of cooperation leads to cancelled visit by UN rights expert to the occupied Palestinian territory More>>

Pentagon To Deploy 400 Troops To Train Syrian Rebels

Rebel fighters take positions behind sand barricades at al-Breij frontline, after what they said was an advance by them in al-Manasher and al-Majbal areas, where forces loyal to Syria's President Bashar al-Assad were stationed, in Aleppo January 5, 2015. ... More>>

ALSO:


U.S. Eases Sanctions On Export Of Tech To Cuba

Washington — Today, the Department of Treasury and Department of Commerce officially released the anticipated changes to the Cuban Assets Control Regulations (CACR) and Export Administration Regulations (EAR) , reforms announced last year by President ... More>>

Increased Gold Demand Following Shock SNB Move

Gold surged in dollars, pounds and especially euros yesterday after the Swiss Natonal Bank (SNB) caused turmoil in markets. Spot gold surged $30.50 or 2.48% to $1,258.50 per ounce and gold in euro terms rose by 4 per cent from EUR 1,044 to over EUR 1,085 ... More>>

What Next After Palestine's ICC Bid?

President Abbas has applied for Palestine’s membership in the International Criminal Court, paving the way for trials of Israeli officials on war crimes. Whether this ... More>>

ALSO:

  • Palestinian Centre For Human Rights - EU recognition of Palestine: What is it good for?
  • UN Mourns Slain French Cartoonists

    At UNESCO headquarters in Paris, the UN flag flies at half-mast in homage to victims of yesterday's attack on Charlie Hebdo. UNESCO/Pilar Chang-Joo More>>

    ALSO:

    Get More From Scoop

     
     
     
     
     
    World
    Search Scoop  
     
     
    Powered by Vodafone
    NZ independent news