For Immediate Release
Office of the Press Secretary
October 20, 2003
Fact Sheet
U.S. Actions at the APEC Summit: Day One
"The United States...supports free trade because a world that trades in freedom will grow in prosperity and in security. For developing
nations, free trade tied to economic reform has helped to lift hundreds
of millions of people out of poverty. The growth of economic freedom
and ownership in developing countries creates the habits of liberty and
creates the pressure for democracy and political reform. Economic
integration through trade can also foster political cooperation by
promoting peace between nations. As free trade expands across the
earth, the realm of human freedom expands with it."
President George W. Bush
September 3, 2003
White House
Presidential Action
President Bush came to the APEC Leaders Meeting to encourage
increased efforts to combat security threats and promote economic
growth.
In a significant development today, the 21 APEC Leaders agreed to
re-energize the Doha negotiations by working off the text developed at
Cancun. President Bush also welcomed Leaders' commitment to fight
corruption and promote transparency.
WTO and Free Trade: APEC Leaders agreed with President Bush that
the Cancun World Trade Organization (WTO) talks were a missed
opportunity for all to advance the Doha Development Agenda. The United
States went to Cancun prepared to address difficult issues, and has
tabled ambitious market access proposals in the three main areas of the
Doha talks -- agriculture, goods, and services. Useful work was done in
Cancun in developing a Chairman's negotiating text, but the meeting
broke down without members endorsing the text. In a significant
development today, the 21 APEC Leaders, with U.S. encouragement, agreed to work off of Chairman Derbez' text of September 13, 2003, as a basis for moving the global trade talks forward, recognizing that flexibility and political will from all will be needed.
The United States is prepared to move forward with the Doha
negotiations, if all parties are ready to negotiate seriously on
substance. At the same time, the United States will proceed with
regional and bilateral free trade agreements. Yesterday, President
Bush and Prime Minister Thaksin announced their intent to launch
negotiations on a U.S.-Thailand Free Trade Agreement.
This is the latest in a series of U.S. market opening initiatives in the
Asia-Pacific region, including:
- Free trade with Canada and Mexico;
- Recently signed free trade agreements with Chile and Singapore;
- Ongoing free trade agreement negotiations with Australia;
- The Enterprise for ASEAN Initiative to encourage free flow of commerce and investment; and
- Trade and Investment Framework Agreements with Australia, Brunei,
Indonesia, New Zealand, the Philippines, and Thailand.
Promoting Transparency and Fighting Corruption: President Bush
believes the Asia-Pacific region should be a leader in global efforts
to combat corruption, which the World Bank has identified as the single
greatest obstacle to economic and social development, cutting growth
rates by 0.5 to 1 percent. He endorsed Leaders' agreement to implement
by 2005 transparency standards in investment, intellectual property
rights, and customs procedures, and to take action on trade
facilitation. At U.S. urging, APEC Leaders also agreed to develop
specific actions to combat corruption.
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