APEC outlines framework for FTAAP

The APEC Study Centers Consortium laid out a policy framework for realizing the Free Trade Area of the Asia-Pacific in a policy recommendation letter to Ministers at the APEC Ministerial Meeting.

"Every year, academics at the APEC Study Centers conduct important policy research on APEC issues which can be leveraged by Ministers and officials as they develop APEC's agenda and initiatives," said Dr Alan Bollard, Executive Director of the APEC Secretariat.

FTAAP, which is backed by 21 APEC member economies, is one of the top issues on the table during the APEC Economic Leaders' Week.

"We believe APEC has the responsibility and is capable of playing a more active and effective role in realizing the FTAAP. APEC is expected to develop an FTAAP framework that defines the goals, principles, standards and content of the agreement," explained Dr. Liu Chenyang, Chair of the APEC Study Centers Consortium 2014.

Academics at the APEC Study Centers have been conducting independent research on both the feasibility of the FTAAP and possible ways to make the agreement a reality.

"We also believe comprehensive connectivity and infrastructure development cooperation will improve the quality and effectiveness of Asia-Pacific regional economic integration and substantially strengthen the implementation of free trade agreements in the region," said Dr Liu. 

The framework recommends that APEC take practical measures to promote investment in infrastructure through Public-Private Partnerships and through the liberalization and facilitation of the trade in services.

Source: china.org.cn