Business leaders from member economies of the Asia-Pacific Economic Cooperation forum on Friday urged leaders of the Pacific Rim economies to achieve “concrete results” in global trade liberalization talks under the World Trade Organization.
The APEC Business Advisory Council, or ABAC, requested in a proposal that the 21-member APEC continue efforts to make substantive achievements at an early date in the current Doha Round of multilateral trade talks.
ABAC proposed that APEC members present an approach to get the WTO talks rolling that would scrap tariffs, export subsidies and trade-distorting domestic subsidies.
The panel also pressed APEC members to formulate specific ways to comprehensively apply tariff reductions to the industrial product sector.
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