ABAC firm on free-trade area

RICHARD MEADOWS
Last updated 15:22 14/02/2014
Fairfax NZ

Apec Business Advisory Council strongly recommend establishing a free-trade area in the Asia Pacific.

Relevant offers

Politics

Protesters at Parliament call for refugee quota increase Historical Abuse: MSD secrecy over historical abuse claims Below the beltway Yes ministers: Dame Margaret Bazley's 60 years of sometimes fraught public service Fifth flag not an option for referendum NZ irrigation and its guilty secrets New bill proposes 'fair go' for renewable energy producers Nick Smith pressures Nelson City Council to free up land for housing Bob Brockie memoir covers 63 years stirring the pot as a political cartoonist Cabinet goes 'paperless' with a $9.6 million online programme to read papers

Establishing a free-trade area in the Asia Pacific is one of the main recommendations that the Apec Business Advisory Council (ABAC) will make to regional leaders this year.

In Auckland this afternoon, ABAC members from Apec's 21 member countries wrapped up the first of four meetings as they prepare for the Beijing summit in November.

ABAC's chair for 2014, Ning Gaoning, said deepening the economic integration of the area would underpin the group's recommendations.

The concept of a free-trade area was first recommended by ABAC in 2004, and adopted as a long-term vision by Apec in 2006.

While Apec is a voluntary, non-binding forum, external pathways to develop free trade include the likes of the Trans-Pacific Partnership, currently under negotiation.

ABAC's New Zealand member, Tony Nowell, said the goal was to make sure those various pathways stayed true to the free-trade endgame.

Ning said actions needed to be taken to remove any barriers to such integration.

Developing connectivity and infrastructure were an overreaching theme in a world dominated by global supply chains, he said.

The infrastructure development would focus on measures to increase private sector participation, such as public-private partnerships.

It would also work on helping governments more effectively plan and execute infrastructure projects.

Prime Minister John Key and Trade Minister Tim Groser have both addressed ABAC members during their visit.

Ad Feedback

- Fairfax Media

Special offers
Opinion poll

Should the speed limit be raised to 110kmh on some roads?

Yes

No

Vote Result

Related story: 110kmh limit moves closer

Featured Promotions

Sponsored Content