Learn mandarin - APEC businesses call for free trade, investment

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WORLD / Asia-Pacific

APEC businesses call for free trade, investment

(Xinhua)
Updated: 2007-09-05 20:26

SYDNEY -- The APEC Business Advisory Council (ABAC) on Wednesday called
on APEC economic leaders to take measures to improve the flow of trade
and investment in the region.

"We have presented a number of recommendations to the APEC leaders to
ensure that the business environment in the Asia- Pacific remains
robust," said Mark Johnson, chair of the ABAC 2007, at a press conference
here.

ABAC, which comprises three senior business representatives from each of
the 21 APEC economies, has concluded a three-day meeting here as part of
the APEC Leaders Week.

Johnson said that business leaders were disappointed in the inability of
the APEC economic leaders to deliver an outcome on the Doha Round.

"The success of APEC highlights what benefits free trade can bring to
developing economies in particular and we again urge the APEC leadership
to ensure outcomes are achieved from these WTO negotiations," he said.

He said that ABAC has canvassed measures to improve the flow of trade and
investment in the region, including the harmonization of standards so
that businesses can export more efficiently.

ABAC pointed to the need for flexible responses from central banking
agencies in the region given the recent experience in the subprime
mortgage market of the US.

The council also stressed the importance of preparation by government and
businesses so that economies are equipped to deal with potential pandemic
threats.

The ABAC membership will participate in the APEC business leaders meeting
over the next two days before engaging in a private dialog with the APEC
economic leaders on September 8.

"ABAC now has a unique opportunity to convey directly to the APEC leaders
our views on the issues that impact on our businesses and communities,"
said Johnson.

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