Home / Knowledge / News / Business leaders voice concern on barriers to free trade
Business leaders voice concern on barriers to free trade
30
Aug '10
Business leaders from the Asia Pacific region have expressed concern over new trade protection measures that have emerged in the wake of the global financial crisis.

Meeting in Bangkok this week, the APEC Business Advisory Council (ABAC) also renewed its call for member economies to take action to move towards establishing a Free Trade Area of the Asia-Pacific (FTAAP).

APEC's commitment to pursuing free and open trade and investment has increased employment and social stability and helped reduce poverty in the region, said ABAC Chair Gempachiro Aihara.

“It has become imperative for Asia-Pacific Economic Cooperation (APEC) to give renewed commitment to achieving deeper regional economic integration in view of economic uncertainty and the resulting protectionist pressures that threaten to reverse these gains.”

“In our view, the FTAAP is the most practical means to achieve this.”

ABAC said establishing an FTAAP was the best way of achieving “high-quality growth”. Although free and open trade and investment are still key to regional prosperity, APEC announced earlier this month its commitment to quality economic growth, selecting five attributes for action: balanced, inclusive, sustainable, innovative, and secure growth.

With the global economy still facing uncertainty and the Doha round of world trade talks stalled, ABAC also said a new push for greater regional economic integration was crucial to helping economies sustain their recoveries following the economic downturn.

ABAC will put forward their recommendations to APEC Leaders on the way forward for APEC during meetings in Yokohama in Japan in November.

ABAC includes representatives from the business communities in each of the APEC's 21 member economies. Those representatives provide APEC Leaders with information on the priorities and concerns of the business sector. The third ABAC meeting was held from August 24-27 in Bangkok.

APEC Business Advisory Council

Must ReadView All

Textiles | On 20th Jan 2017

TEA expects budget to upscale textile skill industry

The Tiruppur Exporters’ Association (TEA) has requested the Central...

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Courtesy: PIB

Textiles | On 20th Jan 2017

Govt to help Tangaliya weavers purchase looms: Irani

Government of India will facilitate Tangaliya weavers in purchase of...

Interviews View All

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search