Chile's Efforts to Achieve APEC Free Trade Goals Early will Benefit People Around the Region
An independent report has cited Chile's progress towards achieving its APEC goals as a leading example for other economies to follow that will serve to raise living standards around the Asia-Pacific region.
The assessment came as part of an independent review of Chile's Individual Action Plan (IAP) which serves as a roadmap for APEC economies to achieve the goals of free and open trade and investment in the APEC region. Agreed in Bogor, Indonesia, in 1994, the target for achieving the Bogor Goals is 2010 for industrialized economies and 2020 for developing economies.
The Independent Expert who prepared the report, Dr. Sangkyom Kim, the Director of the Korea National Center for APEC Studies, said the decision by Chile to reach its Bogor Goals ten years early will have positive results for Chileans and people in other economies.
"Chile's commitment to achieve the Bogor Goals by 2010 will enhance efficiencies in other APEC Member Economies," Dr. Kim said.
"This will eventually help foster economic growth, improve living standards and create higher income levels in the APEC region by reducing and eliminating existing barriers to trade and investment.
"Even though Chile, as a developing economy, is tasked with reaching the Bogor Goals by 2020, the fact that it has committed to do so by 2010 reinforces its strong belief in openness."
The report noted Chile's efforts to contribute to a global free trading environment through several paths as a positive strategy.
"Chile has successfully demonstrated a leading role in pursuing trade liberalization and facilitation in the APEC region," Dr. Kim said.
"The Chilean approach to achieving the Bogor goals is through a policy of unilateral liberalization combined with attention to bilateral and regional preferential trade arrangements to accelerate regional cooperation.
"Chile continues to actively engage in a unilateral policy of openness while at the same time showing its willingness to discuss the feasibility of concluding FTAs with every relevant trade partner."
Final summaries on each of the thirteen areas of assessment are now available on the APEC website (www.apec.org).
The full report will be available on the APEC website once it has been presented to APEC Senior Officials in Pucón, Chile, on June 2.
Four APEC Member Economies are having their IAPs' reviewed at the current round of APEC meetings in Chile. This process involves a presentation by the Independent Expert to a meeting of Member Economies followed by an opportunity for these economies to question the economy under review on the details of their IAP. The review of Chile's IAP took place in Pucón this afternoon.