The Government believes it is essential that APEC Trade Ministers, in their meeting in Montreal next week, commit unequivocally to reinvigorating the IAP process. It is vital that, by the time APEC Leaders meet in Vancouver in November, they are able to point to significant improvements in IAPs. We have to maintain the momentum of regional trade liberalisation and the Government is committed to doing just that. We also aim to give a hearty push to the work initiated by Leaders at their Subic Bay meeting when they instructed Ministers to identify sectors for early regional liberalisation. Many of you will be aware that we have been conducting industry consultations on the concept of liberalisation on a sectoral basis.
Energy is a top priority.
It was proposed for early voluntary liberalisation by the Prime Minister, Mr Howard, in August last year. And we also see prospects for sectoral liberalisation in other areas, such as processed food. Sectoral liberalisation is likely to be a challenging process, but one from which we should not shrink. The differences in the export mix of APEC economies means that it will be difficult to secure agreement on specific sectors, except as part of an overall package. On the trade facilitation front, our immediate priority this year is to put the APEC Business Travel Card arrangements in place and extend it to other countries.