SOM Policy Dialogue on FTAs/RTAs

Free trade agreements and regional trading arrangements (FTAs/RTAs) will be the topic for the 4th Policy Dialogue when APEC senior officials and business leaders meet tomorrow. This is the first APEC FTA/RTA Policy Dialogue which includes participants from the private sector. Chaired by APEC 2006 SOM Chair Mr. Le Cong Phung and Australian Senior Official David Spencer, the event will conclude with a dialogue among senior officials.

Business leaders from both developing and industrialized member economies will present their views about the benefits, challenges and opportunities that free trade agreements bring about. APEC;s approach to reducing tariff and non-tariff barriers and developing model measures for trade agreements will also be addressed.

Chairman and Coordinator General for the Mexican Foreign Trade Business Organizations Network Mr. Luis Martinez Arguello, will talk about how Mexico achieved privileged access to the marketplaces of 43 countries and the benefits it has gained from liberalizing its borders.

FedEx senior representative and member of the APEC Business Advisory Council Mr. Ralph Carter will outline the benefits of multilateral liberalization of trade and how it simplifies administrative burdens for business people.

Ms. Nguyen Thi Thai Li of Viet Nam's Chamber of Commerce and Industry will present a developing economy's perspective on free trade agreements.

CEO of Intraco Ltd Singapore Mr. Teng Theng Dar will present Singapore's views on the Trans-Pacific Strategic Economic Partnership, a multilateral free trade agreement between Brunei, Chile, New Zealand, and Singapore. As a result of its accession clause, other economies can also join.

Based on the outcomes of the policy dialogue, senior officials will make their recommendations to trade ministers who will meet on June 1-2.