Backing for trade initiatives

Business leaders linked to Apec have urged the world to engage in another round of talks to liberalise agricultural trade.

The latest report from the Apec Business Advisory Council (Abac), released yesterday, said Apec leaders should reiterate that open trade and investment were critical for growth and development in the Asia Pacific region.

The report will be presented to the 21 leaders of the Asia Pacific Economic Cooperation forum in Brunei next month.

New Zealand's outgoing Abac representatives, former Trade Minister Philip Burdon, Trade Development Board chief executive Fran Wilde and Lion Nathan chairman Douglas Myers, contributed to the report.

The report says Apec must remain a strong voice for trade liberalisation.

As with past reports, the business leaders have told Apec politicians to continue with the forum's aims of removing trade and investment barriers for developed Apec economies by 2010 and developing economies by 2020.

It says trade and investment liberalisation is central to the prosperity of the region and the world.

Much of the report focuses on removing non-tariff barriers to trade, while encouraging nations to adopt technologies to embrace e-commerce opportunities.

Apec trade ministers at their meeting in June pressed the World Trade Organisation to start another round of agricultural liberalisation talks, after the failure of the Seattle talks late last year.

Abac says it endorses the ministers' call.

Mr Burdon, co-chairman of Abac, will step aside from his role after next month's summit and is to be replaced as a member by former Dairy Board chairman Sir Dryden Spring.

Ms Wilde and Mr Myers have been replaced by Montana Group chairman Peter Masfen and Wendy Pye, who publishes educational material.

- NZPA