Dodwell's blog 2 on SOM3 in Cebu

August 31, 2015


Mon Aug 31 2015
 
APEC Cebu

It seems that Malaysia is to be the APEC economy that welcomes in the Bogor Goals… with New Zealand and Thailand paving the way from there to completion of the Free Trade Area of the Asia Pacific.
 
APEC officials meeting this week in Cebu have agreed chairmanships of APEC through to 2022, and the line up for the next seven years is now as follows:
 
2016 Chair           -              Peru
2017 Chair           -              Vietnam
2018 Chair           -              Papua New Guinea
2019 Chair           -              Chile
2020 Chair           -              Malaysia
2021 Chair           -              New Zealand
2022 Chair           -              Thailand
 
These new commitments mean that the developing economy agendas of inclusion, encouragement of SMEs (in APEC jargon we call them MSMEs – micro, small and medium enterprises), infrastructure improvement and capacity-building will remain dominant and provide continuity for the next seven years.
 
Back in 1994, APEC leaders committed APEC to completion of the Bogor Goals – free and open trade and investment across the region – by 2020 (developed economies in the region were supposed to reach these goals by 2010). So it will be Malaysia’s task to nurse the 21-member grouping past the Bogor goalposts.. But of course by then, we will hopefully be well on the way to creating the Free Trade Area of the Asia Pacific. No-one has yet dared set a target completion date, but some are penciling 2025. So New Zealand and Thailand will be in the thick of translating the principled commitments of the Bogor Goals into a binding regional trade deal.
 

APEC 2015 Cebu
 
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