The fourteenth APEC Economic Leaders’ Week started in today, November 12 with the APEC Concluding Senior Officials Meeting (CSOM) held at the National Conference Centre in Hanoi. 

During their two-day meeting, senior officials from 21 APEC member economies plan to discuss issues that have been of major significance throughout 2006 which were put out for discussions at the SOM I in Hanoi in February this year, SOM II in Ho Chi Minh City in May, and SOM III in central Da Nang city and Quang Nam province in September in order to prepare final reports to be presented to the APEC Joint Ministerial Meeting and to be approved by leaders of APEC economies.

Unlocking stalled World Trade Organisation negotiations, the adoption of APEC Model Measures for Free Trade Agreements and guidelines to secure supply chains against counterfeit and pirated goods will be discussed throughout the meetings today and tomorrow.

Chairman of APEC Senior Officials’ Meeting, Deputy Minister of Foreign Affairs Le Cong Phung said at the first APEC meeting that WTO negotiations will continue to be of great importance for APEC meetings as APEC member economies seek to find a way forward.

“APEC can lead the way for all members of the WTO to reignite negotiations and conclude the Doha Development Agenda next year,” he said.

“APEC members provide an accurate gauge of global economic views and ideas, so if APEC can identify a way forward this path will most likely be suitable to the broader WTO membership,” he added.

Regarding the adoption of model measures that can be used by member economies in the negotiation of Free Trade Agreements and Regional Trade Arrangements (FTAs/RTAs), Deputy Minister Phung said “Our member economies are working to ensure that a ‘spaghetti bowl’ effect of having so many differing agreements does not undermine regional business environment and unduly increase transaction costs. APEC model measures will increase transparency of new FTAs and RTAs and will be of particular benefit to member economies while negotiating their FTAs/RTAs."

“Advancing multilateral trade and high quality FTAs/RTAs are important components of one of the main objectives for the ministers and leaders this week, the release of the Hanoi Action Plan,” he said.

Senior officials from APEC’s 21 member economies will also consider other issues including Hanoi Action Plan to implement the Busan Roadmap, APEC reform, counter terrorism.

After the meeting of APEC senior officials, APEC minister will begin their two day meeting on November 14-15.

By KHAI HOAN