CSOM APEC 2006 reaches consensus on important reports
(VNGOVNet) - The 2-days meeting of Concluding Senior Officials’ Meeting (CSOM), presided over by SOM Chairman Lê Công Phụng, wrapped up with a plenary session in the morning of November 13.
Covering a wide range of issues including economics, trade, investment, human security, counter-terrorism, disaster and pandemic management, cultural cooperation, tourism, anti-corruption and APEC reform, CSOM has reached consensus on all important reports to be submitted to Ministers and Leaders of 21 member-economies later in the week.
21 APEC member-economies
2. Brunei Darussalam
6. Hong Kong, China
9. South Korea
12. New Zealand
13. Papua New Guinea
18. Chinese Taipei
Senior Officials endorsed the annual report by the APEC Committee on Trade and Investment (CTI) that includes a second-phase trade facilitation action plan (TFAP) in which member economies agree on a 5% reduction in business transaction costs between 2006-2010. Annual reports by the Economic Committee and the Budget and Management Committee as well as a Technology Choice Principles Pathfinder initiative for submission to Ministers were also approved.
Negotiations on nine model measures for developing regional trade agreements and free trade areas (RTAs/FTAs) are still going on among member economies. A number of these measures are expected to reach consensus soon and be submitted to Ministers for endorsement. Senior Officials not only approved SOM Chair’s Summary Report on improvements in the individual action plans (IAPs) and another report on the results of economic and technical cooperation (ECOTECH) in 2006 but also unanimously agreed to propose endorsement of the Outcomes Report of APEC Pandemic Response Simulation Exercise conducted on June 7-8 this year.
Mr. Phụng said that a new idea of free trade in Asia-Pacific has been brought forward and considered by APEC Business Advisory Council Meeting (ABAC) to be proposed to SOM.