Since that report was prepared, tariff cuts have been announced in the Philippines which should bring average tariffs down to the Malaysian average and should reduce Thai averages somewhat. It should be noted that in some very important sectors, such as automobiles, tariffs are so high as effectively to prevent trade. There are positive signs. And all have accepted the APEC targets of removal of all barriers to trade and investment by 2020. But the history of trade liberalisation is replete with unfulfilled promises.
Trade liberalisation is very hard.
The APEC Leaders are going to learn in November that most APEC countries have been able to make little headway in committing to unilateral liberalisation since Bogor. Thailand has been the most obdurate about reducing trade barriers. The APEC 2020 target is also not binding, unlike the 2003 target in AFTA which is now a formal, legal obligation. There are two perspectives to assess. Sectors to which these obligations will not apply are agriculture and automobiles.