Asia-Pacific Business Leaders urge Progress on the WTO Talks - Stress Importance of Successful Completion of the Doha Round
Asia-Pacific business leaders meeting as the APEC Business Advisory Council (ABAC) released a strong message from the region demanding that the Doha Round of trade negotiations be completed successfully.
"WTO negotiators have failed to reach consensus on agricultural and industrial goods market access and now the Doha Round stands at a critical crossroads," said Mr. Hoang Van Dung, Chair of ABAC and ABAC member from Viet Nam.
"ABAC members urge our governments to lead the global community in pushing the round forward to a successful and timely completion.
"ABAC will also be calling on businesses in Europe and around the world to support our call for the successful conclusion to the Doha negotiations.
Made up of senior business people that are hand picked by the Leaders of APEC's 21 Member Economies, ABAC meets four times each year in a different location to address issues of concern to the regional business community.
Through this process ABAC provides Leaders of APEC member economies with a business perspective on economic development in the region.
Chair of the ABAC Trade and Investment Liberalization and Facilitation Working Group and ABAC USA Representative, Mr. Michael L. Ducker, also highlighted the importance of a successful outcome to WTO DDA negotiations for not only for the Asia-Pacific, but for the global economy.
"ABAC believes a healthy multilateral trading system is the most effective way of ensuring global economic growth and economic development," Mr. Ducker said at the conclusion of the ABAC Meeting.
"The business community drives economic expansion and new jobs through investment and trade development, and we are here to get the message across that the successful conclusion of the Doha Round is of utmost importance to us.
"An open and predictable trading environment is essential to create new business opportunities everywhere and to deliver improved economic conditions for all people, especially those in developing countries."
APEC member economies account for over half of global output and trade and are home to 60% of the world's population. APEC brings together the Asia-Pacific economies of Australia; Brunei Darussalam; Canada; Chile; China; Hong Kong, China; Indonesia; Japan; Korea; Malaysia; Mexico; New Zealand; Papua New Guinea; Peru; Philippines; Russian Federation; Singapore; Chinese Taipei; Thailand; United States; and Viet Nam.