Published: Thursday November 12, 2009 MYT 1:22:00 PM
Apec members frustrated by Doha delay
By NELSON BENJAMIN
SINGAPORE: Asia Pacific Economic Cooperation (Apec) member countries have expressed their frustration and disappointment that the Doha Development Round initiatives have yet to be implemented despite discussions over the past eight years.
Malaysian International Trade and Industry Minister Datuk Mustapa Mohamad said that while there was strong political will to conclude the talks, there were problems when it came to the “technical aspects.”
He said that the World Trade Organisation (WTO) has outlined seven gaps which were impeding the wrapping-up of the talks.
Among these gaps are special safeguard mechanisms, preference erosion for tropical products, reduction in cotton subsidies, non-agriculture market access, services, rules and trade-related aspects of intellectual property rights.
“Our stand is that we hope that this summit will provide the impetus and final push to get this through as this will bring down tariffs and trade barriers which will have a significant impact on Malaysia and other countries,” he told reporters at the sidelines of the Apec Ministrial Meeting here on Thursday.
Asked whether the United States was a stumbling block in ratifying the talks, he said that so far the commitment given by both Secretary of State Hillary Rodham Clinton and trade representative Ron Kirk has been positive.
“We will still have to hear from the big boss himself (US President Barrack Obama) as there have been positive signs in the past from the United States but nothing material,” he said, adding that they hoped that the issue would be settled by next year.
The objective of the Doha Development Round or Doha Development Agenda (DDA) is to lower trade barriers and tariffs around the world to allow countries to increase trade globally.
Mustapa said that the Apec ministers also discussed steps to be taken to help small and medium industries (SMIs).
“I suggested a structured and new approach to develop sustainable SMIs, including channelling foreign investment as well as loan facilities from the World Bank,” he said, adding that the ministers agreed that there should be inclusive growth and no member country should be left out.
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