APEC Meeting in Sapporo

(Sapporo) The meeting attended by the trade ministers of Asia Pacific Economic Cooperation (APEC) member countries came to an end on June 6th, after the declaration to promote regional economic integration and the overall growth strategy within the region.

While recognizing that Asia Pacific will have a growing leading role in order to achieve the sustainable growth of world economy, APEC Growth Strategy, which includes a concrete action plan, will be fixed during the summit which will be held in Yokohama this coming November. They also aimed to newly establish "The Yokohama Goal" which will incorporate the future vision of regional economic integration.

In the assessment of achievement corresponding to "The Bogor Goal", which aims at the liberalization of trade and investment, it was agreed that "progress in liberalization has been made" in mainly developed countries. The discussions to move forward the dormant multilateral trade negotiations about global liberalization (Doha Round) will be documented another time.

The meeting was co-chaired by Mr. Katsuya Okada, the Minister for Foreign Affairs of Japan and Mr. Masayuki Naoshima, the Minister of Economy, Trade, and Industry.

Comment:
In a discussion involving parties with many different interests, is it indeed challenging to reach an agreement, especially when the interests are not individuals', but countries'. The global liberalization talks have lasted for about a decade without any concrete conclusions. Let us join our hands and pray for our leaders, so that they will be granted wisdom and understanding during the summit in Yokohama, so that they can reach an agreement that will be beneficial to all countries in Asia Pacific region who will have a leading role in the world economy. And eventually, the world economy as a whole will be improved.

NUGROHO Katarina Marsha Utama
Indonesia
Ritsumeikan Asia Pacific University (APM, 4)