International Trade Daily | October 18, 2001 | By Gary G. Yerkey
SHANGHAI--Trade ministers from the 21 member economies of the Asia-Pacific Economic Cooperation forum Oct. 18 will throw their weight behind the launch of a new round of global trade negotiations, as prospects continued to brighten for starting the talks later this year.
A joint statement to be issued at the conclusion of a meeting of APEC ministers here Oct. 17-18--a draft of which was obtained by BNA--will call for the World Trade Organization to open "balanced and sufficiently broad-based" negotiations that reflect the interests and concerns of all WTO members, particularly developing countries.
It said that there was now an "increased need" to launch the talks at the WTO ministerial meeting scheduled for Nov. 9-13 "to reenergize the global trading system given the increased likelihood of a global economic slowdown."
Chinese Vice Foreign Minister Wang Guangya, who participated in the meeting Oct. 17, said that the terrorist attacks that were perpetrated against the United States Sept. 11 had also focused the attention of the APEC ministers on the "urgent" need to launch new WTO talks to restore confidence in the global economy.
The draft of the ministerial statement that will be issued Oct. 18 said that the terrorist attacks, in fact, had "further increased the downside risks of the global and regional economic outlook."
'Dampened' Economic Situation
It said that the "synchronized slowdown" in the United States, Japan, and Europe beginning at the end of last year had already "dramatically dampened" the economic situation.
Officials said that trade ministers from the 21 APEC economies, including U.S. Trade Representative Robert B. Zoellick, said at their meeting Oct. 17 that the chances were now good that the 142 WTO member countries would agree to launch the new trade talks at the ministerial meeting next month.
Zoellick told reporters during a stopover in Malaysia Oct. 15 before coming to Shanghai that the original venue for the WTO ministerial meeting--Doha, Qatar--was now "uncertain" given the U.S.-led military activity in nearby Afghanistan.
"The plans and preparations are for [the Doha meeting] still to go on," he said. "But we live in an uncertain world, and it changes day by day. We get new reports about threats. And these are things that you obviously have to take into account. In my case, I am not only responsible for myself, but I am also responsible for my staff going [to the WTO meeting]. ... There are issues in the region that are beyond anybody's control, and those are some of the issues that they are others will have to weigh as we decide what exactly what to do."
Canadian International Trade Minister Pierre Pettigrew, meanwhile, said during a break in the APEC meeting Oct. 17 that even developing countries like India were now basically on board for launching new WTO trade talks.
"We've made progress on all fronts," he said, citing significant headway at the WTO "mini-ministerial" held in Singapore the weekend of Oct. 12-13. "We are getting there."
Agriculture, Terrorism
He said that the main obstacle continues to be agriculture, where, he said, the European Union and Japan, which have been resisting efforts to liberalize trade, were now isolated.
Pettigrew, speaking with a small group of reporters, said that the Sept. 11 terrorist attacks had also "brought a sort of climate of solidarity that is building in favor of launching a round."
The issue of terrorism and what to do about it, meanwhile, will be discussed at a meeting of APEC foreign ministers, including U.S. Secretary of State Colin L. Powell, on Oct. 18, officials said.
It will also be "touched upon" by APEC leaders including President Bush at meetings here over the weekend, the officials said.
But sources said that officials were still discussing the precise wording of the declaration on terrorism that will be issued at the end of the leaders' meeting Oct. 21--specifically whether to include language calling for a concerted crackdown on money laundering to help tighten the noose on terrorist organizations.
The declaration, meanwhile, will strongly condemn terrorism and pledge renewed cooperation in halting the flow of money to terrorists and terrorist-supporting organization as well as tighter security at airports, on airplanes, and at sea ports.
APEC groups Australia, Brunei, Canada, Chile, China, Hong Kong, Indonesia, Japan, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, Philippines, Russia, Singapore, South Korea, Taiwan, Thailand, the United States, and Vietnam.
Copyright c 2001 by The Bureau of National Affairs, Inc., Washington D.C.International Trade Daily:
