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Malaysia Stresses Voluntarism

From Xinhua English Newswire
22 June 1998

Malaysia Monday said the principles of voluntarism and flexibility should be maintained in implementing trade liberalization among Asia-Pacific Economic Cooperation (APEC) members.

The liberalization should be based on the capacity of different members, especially related to the nine fast-track sectors chemicals, environmental goods and services, energy, fish and fish products, forest products, gems and jewelry, medical equipment and instruments, toys and telecommunications mutual recognition arrangement, Malaysian International Trade and Industry Minister Rafidah Aziz told a news conference here Monday before the opening of the APEC Trade Ministers meeting.

She said Malaysia, the host of the forthcoming annual Informal meeting of APEC Leadership in November this year, subscribed to "progressive liberalization." "We should not be too ambitious," she stressed.

The nine sectors were identified under the Early Voluntary Sectoral Liberalization (EVSL) initiative.

She said the two-day trade ministers meeting which opens later Monday will take stock of the progress of work including on EVSL, Individual/Collective Action Plans, Electronic Commerce and impact of trade liberalization as well as provide directions for future work on the issues.

Besides the nine sectors which were set on fast-track, she said the ministers will also examine progress in the other six sectors automobiles, civil aircraft, food, natural and synthetic rubber, fertilizers and oilseeds for liberalization.

The ministers will also have a dialogue with APEC Business Advisory Council (ABAC) on the collective response of APEC to ABAC recommendations which contain requests for measures to further liberalize and facilitate trade and investment, Rafidah said.

She said the ministers will consider also how APEC could make further contribution to the World Trade Organization (**WTO**) in light of the outcome of the Second **WTO** ministerial conference.

The APEC's Membership includes Australia, Brunei, Canada, China, Chinese Taibei, Chile, Hong Kong, Indonesia, Japan, South Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, the Philippines, Singapore, Thailand and the United States.