The Asia-Pacific Economic Cooperation is moving ahead with cooperative
efforts to evaluate and identify initiatives to support freer, faster and more
beneficial trade in the region that will lead ultimately, it is hoped, to a Free
Trade Area of the Asia Pacific.
The Business Advisory Council of the Asia-Pacific Economic Cooperation is focused on taking further steps towards realizing the goal of an integrated
Asia Pacific economy, and on liberalizing and facilitating trade and investment,
leading ultimately to a Free Trade Area of the Asia Pacific.
The Asia-Pacific Economic Cooperation group has approved a new initiative to harmonize cross-border data privacy protection, which is designed to enhance the protection of consumer data that moves between its members, including the United States, at a time when more consumer information is moving across national borders.
The European Commission is proposing to amend the Market Access Regulation governing the trade conditions for certain developing countries that have
negotiated, with the European Union, Economic Partnership Agreements which have yet to be signed and ratified.
A major negotiating breakthrough is required if the Doha Round is to reach a successful conclusion, with many gaps remaining unbridgeable, the Asia-Pacific Economic Cooperation organization has said.
A meeting of a wide range of stakeholders, including ministers, non-government
organisations and businesses, has decided that much more regional consultation
will be required on the proposed PACER Plus free trade agreement.
The Business Advisory Council of the Asia-Pacific Economic Cooperation has affirmed its belief that making progress on a Free Trade Area of
the Asia Pacific presents the best strategy for achieving regional growth.
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