WORLD TRADE WT/MIN(98)/ST/1
18May1998
ORGANIZATION(98-1880)
Original: English MINISTERIAL CONFERENCE
Second Session
Geneva, 18and20May1998
APEC MINISTERIAL STATEMENT
Statement circulated bytheHonourable Dato'SeriRafidah Aziz,
Minister ofInternational Trade andIndustry ofMalaysia,
onbehalf ofMinisters responsible forTrade from the
AsiaPacific Economic Cooperation Forum
Ministers from theAsia Pacific Economic Cooperation economies would liketoextend
congratulations ontheachievements made bytheWorld Trade Organization anditsprecursor theGATT
overthepast50years. Theprosperity oftheAPEC region has,inlarge part,beenaconsequence
oftherelatively openmultilateral trading system created bytheGATT.
Attheirmost recent meeting inVancouver inNovember 1997 APEC Ministers reaffirmed
theprimacy ofanopen, rules-based multilateral trading system under theWTO andtheirintention
tocontinue topursue APEC initiatives thatsupport work intheWTO. Inthiscontext theyreiterated
theirsupport fortheprompt accession totheWTO ofapplicants inaccordance withWTO rules and
based oneffective market access commitments with aview toachieving universality ofWTO
membership.
Ministers reiterated theimportance ofimplementing fullyallexisting WTO commitments as
afoundation forfurther multilateral tradeliberalization, particularly through fulfilment ofthebuilt-in
agenda oftheWTO according toagreed timetables. They agreed thatthesecond WTO Ministerial
Conferencewouldprovideatimelyopportunitytotakestockofprogressintheimplementationofexisting
commitments andthebuilt-in agenda andtoprovide instructions toWTO bodies onthework necessary
toprepare asubstantive agenda forthethird WTO Ministerial Conference withaview topursuing
further broad-based multilateral market access andother liberalization.
APEC Ministers arefirmly oftheviewthatcontinued trade andinvestment liberalization is
essential toeconomic growth. Itispartofthesolution, complementing resolute actions bytheglobal
community andinternational financial institutions, toovercome theeconomic crisis which hasstruck
theAsian region overthepastyearorso.TheAPEC approach istocouple continued liberalization,
onthebasis ofvoluntarism andflexibility, withcapacity building measures toenhance theability of
APEC member economies toadjust to,andbenefit from, theliberalization process. APEC Ministers
believe, therefore, thatfurther broad-based multilateral market access andother liberalization would
bothencourage further economic growth andcounter anytrends towards protectionism wherever these
might emerge.
APEC 'swork programme isfocused onthepursuit ofinitiatives which cancomplement and
supportthemultilateraltradingsystem.Whilestressingourcommitmenttocomprehensiveliberalization
asstated intheOsaka Action Agenda, APEC 'swork onearly voluntary sectoral liberalization isvery
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much seeninthislight. Trade liberalization under theearlyvoluntary sectoral liberalization initiative
iscomplemented bytrade facilitation andeconomic andtechnical cooperation activities. Once the
initiative isdeveloped further attheAPEC Trade Ministers Meeting inKuching inJuneitwould be,
where appropriate, opened towider participation through work intheWTO.
APEC 'sworkinareassuchascompetition policy, regulatory reform, government procurement
andtradefacilitation might likewise contribute tofuture workintheseareas. Astariffs andother border
measures continue tobeliberalized itisincreasingly important topursue initiatives which encourage
theremoval ofregulatory andadministrative impediments behind theborder ifthefullbenefits oftrade
liberalization aretobeachieved.
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