Thursday, July 16, 2009

How far have APEC economies come in achieving free trade?

Experts ask: How far have APEC economies come in achieving free trade?


Singapore, 15 July 2009 – APEC officials are currently considering progress of members in trade liberalization and facilitation.  Specifically, Russia, Papua New Guinea, Viet Nam and the Philippines will be subject to rigorous assessment of seventeen key policy areas affecting trade environments.

Similar exercises are conducted on a rotating basis as economies review and scrutinize the Individual Action Plans (IAPs) of their counterparts.  IAPs outline progress made toward achieving the goals set out in the Bogor Declaration of 1994.  This declaration established a target of free trade and investment in the Asia-Pacific region by 2010 for developed economies and 2020 for developing economies; and these goals were adopted by all APEC economies.

To ensure consistent progress, the studies are conducted by independent review teams who also consider reports issued by the World Trade Organisation and studies published by experts who have also assessed the economies in question.  During the Peer Review session, findings and analysis are discussed openly among members and subsequently made available to the public.

Summaries of the four most recent IAP Peer Reviews conducted and cited here will be made available at the close of each peer review, respectively:

Papua New Guinea: (available today)

Philippines: (available today)

Russia: (available today)

Viet Nam: (available 16 July)

Complete reports will be made available on 19 July 2009 at:

Papua New Guinea:



Viet Nam:

News photos will be available on the APEC website on the conclusion of respective peer reviews:


For more information, contact:

Carolyn Williams at or at (65) 9617 7316

Anita Douglas at or at (65) 9172 6427



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