Consolidated position enhances APEC’s focus on 2012 priorities, say APEC Senior Officials
Now that Russia is joining the World Trade Organization, discussions within APEC on trade liberalization will grow wider and deeper, said Russia’s Senior Official for APEC.
Russia’s Deputy Minister of Foreign Affairs Igor Morgulov made the remarks over the weekend when he introduced the priorities for APEC Russia 2012 at the first Senior Officials’ Meeting in Moscow for which he is the chair.
The priorities include trade and investment liberalization and regional economic integration; food security; supply chains connectivity; and fostering intensive cooperation for innovative growth. In particular, Morgulov expects that cooperation among APEC member economies will bring about concrete action.
“We expect our cooperation in the fundamental APEC spheres of regional economic integration and trade liberalization to yield practical results,” said Morgulov. “Consolidated positions among APEC member economies should jumpstart multilateral trade talks and make them more constructive.”
Senior Officials agreed to cooperate on food security because all member economies have a stake in ensuring that food is available, affordable, safe and of high quality.
“In light of the growing social commitments of governments in the aftermath of the global financial crisis, we must strive to develop stable food markets and dampen price fluctuations,” Morgulov continued.
“Furthermore, we must continue to search for ways to ensure agricultural development based on increasing mutual investments, modern technologies and compliance with quality standards.”
The prospects of greater integration in APEC are closely connected to the need to ensure reliable supply chains in the region. Proposals were put forward to achieve APEC’s overarching goal of a 10 percent efficiency gain across supply chains by 2015, specifically to reduce time, cost and uncertainty.
“We need to apply a broader approach and move faster in improving supply chain connectivity within APEC in order to contribute to the resiliency and development of APEC economies,” said Morgulov.
“We also need to understand the challenges that we face concerning APEC supply chains, as well as assess the risks in trade corridors between APEC and other markets.”
APEC has prioritized innovation-based economic development as crucial for stable economic growth. Senior Officials discussed possible ways to promote extensive interaction among universities, research centers and the business community.
“Cooperation in education and the development of human capital is vital,” said Morgulov. “The protection of intellectual property is also becoming increasingly important. We also see opportunities for advancing joint initiatives in these spheres within APEC.”
Seeking the views of the private sector, Senior Officials also heard from Ziyavudin Magomedov, this year’s chair of the APEC Business Advisory Council and Summa’s Group’s Chairman of the Board of Directors. He said that ABAC is working on specific policy recommendations for leaders and that the ongoing dialogue between business and APEC officials enhances the effectiveness to benefit communities.
“Next week in Hong Kong we will be refining and finalizing the detailed work programs for ABAC’s groups and, hopefully, reach agreements on the targets set for 2012,” said Magomedov. “Under the theme, ‘Aspirations to Reality,’ the ABAC work program will focus on transportation and logistics, technology transfer, food security and eco-cities.”
Senior Officials also considered the progress made members to build capacity in the areas of regulatory coherence, emergency management; and human resources development.
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