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ASCC CONFERENCE 2005 : II. Roadmap to the Asia Pacific Economic Community

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This sessionxx explored roadmaps to the Asia Pacific Economic Community through different channels. The first speaker, Dr. Hadi Soesastro recommended more specific and clearer targets. Over the years, APEC governments took numerous initiatives to promote cooperation and achieve the APEC vision of an Asia Pacific Economic Community. No defined roadmap however, has been provided. The lack of specificity of what constitutes the Bogor Goals was pointed to as the main problem. Although APEC has undertaken many activities to promote trade and investment there are no mechanisms to ensure implementation. Therefore the need to narrow down the scope of agendas was restated. Dr. Andrew Elek, the second speaker of the sessionxx, suggested on more specific ideas. The core of his argument was to have specific, clear objectives by setting medium-term targets in different areas; sensitive products, lowering barriers, international transport, international investment, capital and labor movement and other remaining obstacles. He stressed that for products, which are lightly protected, already low barriers should be reduced to zero. APEC Leaders could agree that newly invented products of the future will not receive border protection. Also, expansion of the scope of our targets was considered to be essential. Next, Professor Hernan Gutierrez B. asserted that the fundamental purpose of APEC is trade liberalization by opening up markets. To achieve this target, developed countries need to take the lead. Also APEC economies’ governments should restructure internal policies to advance the Bogor Goals process. Soogil Young, the last speaker, attempted to find a solution outside APEC. Dr. Young suggested that APEC ‘import’ OECD peer reviews as a benchmark method to achieve the Bogor Goals. Political will, stemming from understanding and appreciation of the mechanism and value of the peer review process, holds the key. Dr. Kyung Tae Lee, moderator of the sessionxx, wrapped up the sessionxx by asserting the necessity of introducing stronger means to achieve many goals APEC has raised so far.
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