TheJakartaPost

Please Update your browser

Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.

Jakarta Post

APEC holds preparatory meeting in Surabaya

Asia-Pacific Economic Cooperation (APEC) senior officials will meet in Surabaya next week to discuss preparations for the APEC summit, which will be held in Bali in October

The Jakarta Post
Jakarta
Sat, April 13, 2013 Published on Apr. 13, 2013 Published on 2013-04-13T14:32:13+07:00

Change text size

Gift Premium Articles
to Anyone

Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!

A

sia-Pacific Economic Cooperation (APEC) senior officials will meet in Surabaya next week to discuss preparations for the APEC summit, which will be held in Bali in October.

Indonesian Trade Ministry director general for international trade cooperation Iman Pambagyo said in Jakarta on Friday that at the Surabaya meeting, which would be the second preparatory meeting after a similar gathering in Jakarta in February, APEC'€™s senior trade officials would discuss several important issues to boost trade cooperation and investment in the region.

In addition, the meeting, to be held next Saturday and Monday, would also be used to prepare member countries for the World Trade Organization (WTO) ministerial conference, which will also be held in Bali in December, Imam said.

He said senior officials would discuss the possibility of resuming the Doha negotiations, which had been stalled over divides on major issues, such as trade facilitation and the least developed countries (LDC) package, since 2001.

The LDC package is a proposed scheme to provide duty-free and quota-free conditions for LDCs to get greater market access.

Developing countries such as Indonesia, China, India, Egypt and South Africa all pushed for an LDC package supported by Bangladesh on behalf of the LDCs.

Meanwhile, trade facilitation such as transport formalities, import and export procedures and payments are estimated to cut business costs by between US$359 billion and $1 trillion according to data provided by the WTO.

 '€œWe want to bridge the interests of developed countries, developing countries and LDCs,'€ he added.

In addition, the Surabaya meeting would also discuss sustainable growth with equity for small and medium enterprises (SMEs) and other low-income earners.

Globalization and liberalization are thought to have brought benefits to many, but have also marginalized small players, such as SMEs. The member countries will discuss how to improve SMEs and entrepreneurs so they will be ready for regional economic integration.

Another issue that will be discussed is connectivity among countries in the region. Asia Pacific is a huge region and infrastructure as well as people to people connectivity is considered important to providing easier access for countries in the region. (koi)

Your Opinion Matters

Share your experiences, suggestions, and any issues you've encountered on The Jakarta Post. We're here to listen.

Enter at least 30 characters
0 / 30

Thank You

Thank you for sharing your thoughts. We appreciate your feedback.

Share options

Quickly share this news with your network—keep everyone informed with just a single click!

Change text size options

Customize your reading experience by adjusting the text size to small, medium, or large—find what’s most comfortable for you.

Gift Premium Articles
to Anyone

Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!

Continue in the app

Get the best experience—faster access, exclusive features, and a seamless way to stay updated.