The United States has proposed that the Asia-Pacific Economic Cooperation forum adopt the so-called Shanghai Charter at its October summit, to enhance the region's commitment to freeing up trade and investment, APEC sources said Sunday.
Trade ministers from the 21 Pacific Rim economies will likely discuss the charter in their meeting Wednesday and Thursday in Shanghai, for which senior officials spent a two-day preparatory gathering that ended Sunday in Shenzhen, the sources said.
The U.S. suggestion comprises four points, including a call to consider adding new themes to the 1995 Osaka Action Agenda, which provides a road map for free and open trade and investment, business facilitation, and economic and technical cooperation, they said.
The U.S. also suggests improving APEC's monitoring of the implementation of individual action plans being presented by member countries in line with the action agenda. It also pushes cooperation on the information technology-driven new economy, and efforts to make member countries' legal systems more transparent.