KEY POINTS:
Stimulus packages being released by governments in the Asia Pacific region will be monitored by the Apec Business Advisory Council for any signs of protectionism.
And it would regularly publish its findings, ABAC co-chairman Teng Theng Dar of Singapore said yesterday.
"We are increasingly concerned that stimulus packages contain protectionist elements and that some economies have alarmingly shown signs of reversing the course of openness, putting in place measures to protect their markets," Mr Teng said at a press conference in Wellington yesterday.
"This is definitely not the time to have any major or new policies introduced that may upset or disrupt trade flow which will further cause pain to an already distressed situation in the world economy."
The advisory council yesterday agreed to establish a mechanism to monitor compliance with the G20's undertakings on trade barriers and World Trade Organisation commitment "in the context of the spectre of rising protectionism".
"We urge Apec to join us in this exercise." Members of the council meet the Apec leaders at their annual summit - this year in Singapore in November - to give them practical advice on how they can make free trade easier and members have just held a meeting in Wellington.
Mr Teng said ABAC wanted to ensure there was "no backsliding" on what had been achieved and what had been committed to already.
Any measures taken at present that were not good for business would not be good for the economy.
They met Prime Minister John Key on Wednesday night and his message to them had been "stay on course", Mr Teng said.
Several businessmen yesterday commended United States President Barack Obama for his comments which saw a "buy America" clause in the stimulus package diluted in the US Senate after representation from business.
The council called on governments to conclude the WTO Doha Round.
John Denton of Australia said the "landing strip" for the Doha Round was clear. All technical issues were capable of resolution. What was needed was the political pressure.
