16 November 2006 President pledges long-term U.S. engagement in Asia Washington – The United States will give “serious consideration” to the idea of creating a free-trade zone that would span five continents and include countries that represent nearly half of global trade, President Bush said November 16. Speaking in Singapore two days before the Asia-Pacific Economic Cooperation (APEC) leaders' meeting in Hanoi, Vietnam, the president said the proposal advanced by some of the 21 member economies “deserves serious consideration” and called APEC “the premier economic forum in the region.” He said that APEC has great potential to boost economic and development opportunities through expanded free trade. APEC member economies are Australia, Brunei Darussalam, Canada, Chile, China, Hong Kong, Indonesia, Japan, South Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, Chinese Taipei (Taiwan), Thailand, the United States and Vietnam. “We will do our part to help APEC become a stronger organization that serves as an engine for economic growth and opportunity throughout the region,” Bush said. The idea of a free-trade pact was first broached two years ago by the APEC Business Advisory Council. According to council’s more recent October report, a group-wide agreement would create many benefits for APEC members. In particular, it would make doing business less complex and costly by bringing into line more than three dozen free-trade deals signed or currently being negotiated among the member economies. But the report also acknowledged practical difficulties in negotiating such a pact, mostly because it would require changing the nonbinding decision making character of the group. Bush’s message on the need for more free trade between the United States and its Asian partners was endorsed by the largest U.S. business lobbying group. A report issued November 15 by the U.S. Chamber of Commerce to coincide with the president’s Asia trip said U.S. efforts to negotiate regional and bilateral trade agreements in Southeast Asia are an important priority for the U.S. business community. The report called on the Bush administration to help U.S. companies compete in the region by investing in capacity-building initiatives that support regional economic reform and integration, increasing funding for export-promotion programs and streamlining U.S. visa procedures. Governments of the 10-member Association of Southeast Asian Nations (ASEAN) that the report specifically addresses were urged to increase their competitiveness by establishing predictable investment regimes; promoting liberalization of financial services and good corporate governance; and increasing protection of intellectual property. ASEAN members are: Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Burma, Philippines, Singapore, Thailand and Vietnam. Bush also called on nations in the Asia-Pacific region to help revive World Trade Organization talks aimed at liberalizing trade worldwide. The negotiations officially known as Doha Development Agenda collapsed in July mainly over the issue of agricultural subsidies and tariffs. Asian countries had played a relatively small role in the talks dominated by the United States, European Union, Brazil, India and some other emerging market countries, according to independent observers. Bush said the United States is committed to a breakthrough in the Doha negotiations but believes that only an ambitious outcome will create conditions for achieving the far-reaching goals set when the round started in 2001. (See related article.) ENDURING PRESENCE IN ASIA Bush pledged lasting U.S. engagement in Asia because “our interests depend on the expansion of freedom and opportunity in this region.” He cited energy security, infectious diseases, terrorism and nuclear proliferation as the most urgent issues. Bush urged U.S. partners in Asia to send a message to North Korea that they will not tolerate the transfer of nuclear technology to other states or terrorist groups. He said his administration will work with these partners to enforce sanctions imposed on that country by U.N. Security Council. (See related article.) Bush said the United States will continue to participate in the Six Party Talks, which include the United States, Japan, South Korea, China, Russia and North Korea, but added that their success depends on Pyongyang’s implementation of the agreement to give up its nuclear weapons and weapons programs. A transcript of the president’s remarks in Singapore is available on the White House Web site. The full text of the U.S. Chamber of Commerce report is available on the group’s Web site. For more information, see Asia-Pacific Economic Cooperation and Trade and Economics. (The Washington File is a product of the Bureau of International Information Programs, U.S. Department of State. Web site: http://usinfo.state.gov)Bush Says U.S. Will Examine Plan for Asia Pacific Free-Trade Zone
