MercoPress. South Atlantic News Agency

APEC summit calls for EU trade flexibility

The Asian-Pacific Economic Cooperation summit meeting in South Korea identified Europe as the main obstacle to global trade and called upon European leaders to lift obstacles for the December trade talks In Hong Kong.

Leaders from over twenty countries including US president George Bush, China's Hu Jintao and Russia's Vladimir Putin also agreed actions on bird flu and terrorism.

Apec leaders are seeking a breakthrough in the World Trade Organization Doha talks which remain stalled particularly regarding agriculture tariffs and farm subsidies in developed countries. Talks began in 2001 with the purpose of drafting a system of trade rules fairer for developing countries.

In their closing Saturday statement following two days of meetings, the Busan Declaration, Apec leaders called on "all other WTO members" to "break the current impasse in agriculture negotiations, in particular in market access". The message was specifically for "those that have the largest stake in the global trading system and derive the biggest benefits there from".

Europe is seen as the main obstacle to progress with its generous subsidies to farmers and tariffs on food imports. At the start of the summit, South Korean Foreign Minister Ban Ki-moon suggested the European Union (EU) could be more flexible.

EU Trade Commissioner Peter Mandelson stressed earlier this week that the EU would stick to its current offer on cuts to farm import tariffs and subsidies, and wanted moves by others on manufactured goods and services.

At the meeting in Busan, the leaders also agreed joint initiatives to tackle the threat of bird flu, including a list of "available and funded" experts in the region and build "capabilities for responding rapidly to pandemic influenza in its early stages".

APEC summit also condemned terrorism, pledging to confront the threat by "dismantling trans-border terror groups and eliminating weapons of mass destruction and their means of delivery" and promised to intensify cooperation to tackle corruption and boost investment in energy technology.

APEC has 21 members - referred to as "Member Economies" - which account for more than a third of the world's population (2.6 billion people), approximately 60% of world GDP (19.254 trillion US dollars) and about 47% of world trade. It also proudly represents the most economically dynamic region in the world having generated nearly 70% of global economic growth in its first 10 years.

APEC's 21 Member Economies are Australia; Brunei Darussalam; Canada; Chile; People's Republic of China; Hong Kong, China; Indonesia; Japan; Republic of Korea; Malaysia; Mexico; New Zealand; Papua New Guinea; Peru; The Republic of the Philippines; The Russian Federation; Singapore; Chinese Taipei; Thailand; United States of America; Viet Nam.