APEC Returns to Canberra for 2007 Australia Meetings

APEC begins its 2007 schedule tomorrow with a return to the same meeting room that hosted the first APEC meeting in 1989.

Senior Officials from APEC's 21 Member Economies will meet in the R.G. Casey Building in Canberra to oversee the implementation of directions issued by APEC Leaders and Ministers in 2006, and begin preparations for the major meetings at the conclusion of the 2007 APEC Year.

The Executive Director of the APEC Secretariat, Ambassador Colin Heseltine, said the return of APEC to Australia is an important milestone for APEC.

"Most APEC economies have now hosted APEC and the return of APEC to Australia for 2007 is symbolic of the longevity of the organization," Ambassador Heseltine said from Canberra.

"A great deal has changed in the global economy since the formation of APEC at the end of the Cold War.

"Over the past 18 years the role of APEC has evolved and expanded to include a wide range of issues that are relevant to economic growth and the well being of the people in the region.

"The APEC region is now home to 2.6 billion people and accounts for around half of total global trade.

"We have seen great success in the work of APEC economies to reduce barriers to trade with average trade tariffs falling from 17% in 1988 to 6% in 2004

"Now APEC is increasing its focus on removing the typically unseen or behind-the-border impediments to trade such as corruption, a lack of transparency and needless bureaucracy."

Ambassador Heseltine said the Senior Officials Meeting tomorrow will confirm a number of the initiatives and projects that are targeted for completion by the major APEC events of the year, the 19th APEC Ministerial Meeting and the 15th APEC Leaders Meeting in Sydney in September.

Issues on the agenda for the Senior Officials' Meeting include structural reform in the regional economy, human capacity building, emergency preparedness and energy security.

A number of other meetings are scheduled to take place in conjunction with the Senior Officials' Meeting covering a number of sectoral responsibilities. Four economies will also be the first members to have their progress to achieve APEC's free trade and investment goals reviewed for 2007. Independent progress reports on the economic achievements of Australia, Hong Kong China, Japan and Chinese Taipei will be tabled and each of these economies will face a peer review session that will include questions posed by other economies.