Treasury man to chair Apec committee

A principal adviser to the Treasury, Bob Buckle, has been selected as the new chairman of the Apec economic committee.

An award-winning economist, Professor Buckle said ensuring that members of Apec (Asia Pacific Economic Cooperation) engage in the regional economy will be one of his priorities.

"As a policy adviser at the New Zealand Treasury, it is clear to me that no economy can afford to set domestic policy in a vacuum," Professor Buckle said.

"In a world that is becoming more globally connected, what your key trading partners do matters a great deal to your own economy's performance."

Professor Buckle said trade barriers were not the only constraint to conducting business in the Apec region and the global economy.

"Behind-the-border conditions can have an equally significant impact on the ability of economies to trade with each other."

He said reducing behind-the-border barriers to trade, and promoting other forms of economic cooperation, would help to lift the growth performance of the region and contribute to greater regional integration.

"Both the reduction of trade barriers, and implementation of structural reforms that improve trading conditions within economies, will also enhance the region's ability to withstand adverse economic shocks, such as the recent increase in oil prices," Professor Buckle said.

He said his goal would be to promote high-quality economic policy dialogue in Apec.

The position of Apec economic committee chairman is for two years. The committee meets twice a year.

- NZPA