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Holding fast to its principles that were established in 1989, APEC continued to press for furthereconomic growth and prosperity for the region and to strengthen the Asia-Pacific community.At their meeting in Busan in November 2005, APEC's Economic Leaders confronted economic,health, and development issues and were undaunted by the challenges that lie ahead.

With the conclusion of the Mid-Term Stocktake, APEC confirmed the progress it has madetowards meeting the Bogor Goals. Across the region tariff and non-tariff barriers have fallen,foreign investment has been liberalized and services, competition policy, intellectual propertyrights and customs procedures have improved. Equipped with this assessment, Leaders agreedto draw the Busan Roadmap to Bogor which will help APEC respond to the evolving businessenvironment.

Demonstrating its commitment to free trade, APEC member economies endorsed the Committeeon Trade and Investment's recommendations to welcome the Busan Roadmap and called fora successful conclusion to the World Trade Organization's Doha Development Agenda. APEC'sEconomic Committee issued a report indicating that the Asia-Pacific region will experiencegrowth despite high oil prices, rising domestic prices and external imbalances. And the SOMSteering Committee on ECOTECH reported that 135 capacity-building projects were undertakenin 2005. With a 12% increase over 2004, this year's capacity-building projects emphasizeddeveloping human capital, strengthening economic infrastructure and harnessing technologiesfor the future.

By taking individual and collective actions, APEC member economies open their markets andpromote economic growth. Over the course of the year, APEC has also embraced reformsincluding measures for a more disciplined budgetary process, better coordination between theBudget and Management Committee and the APEC Secretariat to facilitate project implementation,and an enhanced mandate for the SOM Steering Committee on ECOTECH. Following thisstrategy will allow APEC to ensure a more efficient and results-oriented process.

Going forward, APEC will continue to promote trade liberalization to ensure a prosperous Asia-Pacific. APEC Viet Nam 2006 will also explore how to address socio-economic disparities causedby free trade, encourage gender integration across all AEPC fora, and pursue reforms that willenhance APEC's role in the world.

In 2006, APEC, hosted by Viet Nam, will take bold steps on the world's stage to promote adevelopment agenda which is inclusive of all its members. As we work towards achieving theBogor Goals of free trade, APEC Viet Nam 2006 seeks to build a broader APEC community toaddress issues of social concern, health and equity. Next year's priorities include a proposalto develop an action plan for member economies to implement the Busan Roadmap, supportfor SMEs and micro enterprises, strengthening the multilateral trading system, building humancapacity to narrow the development gap, enhancing APEC's collective preparedness to facenatural disasters and widespread diseases, and fighting corruption and enhancing transparency.

With momentum from APEC Korea 2005, we are enthusiastic about the prospects for APECViet Nam 2006 and are confident that all of APEC's stakeholders will contribute to the questfor economic security in the region.

Yours truly,

Amb. Choi Seok YoungExecutive DirectorAPEC Secretariat 2005

Amb. Tran Trong ToanExecutive DirectorAPEC Secretariat 2006

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C o n t e n t s

Outcomes & Outlook

Introduct ion

1 Introduction

13th APEC Economic Leaders' Meeting

13th APEC Economic Leaders' Meeting:Statement On Doha Development Agenda NegotiationsBusan, Korea

Outcomes 2005: Towards One Community:Meet the Challenge, Make the Change

Outlook : APEC Viet Nam 2006

Inside APEC

On the Web

Key Contacts

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Australia Brunei Darussalam Canada Chile People’s Republicof China Hong Kong, China Indonesia Japan Republic of KoreaMalaysia Mexico New Zealand Papua New Guinea PeruThe Republic of the Philippines The Russian Federation SingaporeChinese Taipei Thailand United States of America Viet Nam

APEC MemberEconomies

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We, Economic Leaders of the membereconomies of the Asia Pacific Economic Co-operation (APEC), gathered in Busan, Korea,for the 13th APEC Economic Leaders'Meeting, under the APEC 2005 theme,“Towards One Community: Meet theChallenge, Make the Change,” to advanceour common vision of achieving stability,security and prosperity for our peoples. Wereiterated the importance of the Bogor Goalsof free and open trade and investment in theAsia-Pacific, and we pledged to work towardsthis with the Busan Roadmap. With this

renewed commitment, this year, we dedicatedourselves to ensure a transparent and securebusiness environment in this region in orderto lay a stepping stone towards our vision.We also confronted the challenges andexerted our utmost efforts to bridge thevarious gaps and differences existing in theregion. As a result, APEC, as the single forumencompassing the Asia-Pacific region, hasnot only kept its past pledges but also hassucceeded in presenting the future directionthat APEC should be heading towards.

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13th APEC Economic Leaders’ MeetingBusan DeclarationBusan, Korea, 18-19 November 2005

AdvancingFreer Trade

With a firm belief that the engine of thisregion's economic growth is a strengthenedmultilateral trading system, APEC EconomicLeaders have supported the World TradeOrganization (WTO) since the inception ofthe Leaders' Meeting. We believe that APEC,as a forum of the world's leading tradingeconomies must manifest leadership instrengthening the multilateral trading system. We showed our strong political will in aseparate statement, in which we declaredour firm support for the WTO DohaDevelopment Agenda (DDA) negotiations toproceed expeditiously so as to achieve an

ambitious and overall balanced outcome atthe end of the Round. We also supportedthe efforts to promptly conclude the accessionof Russia and Viet Nam to the WTO.

We welcomed the outcomes of the MidtermStocktake on the progress towards achievingthe Bogor Goals, which confirm that APEChas made momentous strides towards freeand open trade and investment. We areconvinced that both our individual andcollective efforts towards the Bogor Goalshave contributed to rapid and sustainedeconomic growth as well as to significantimprovements in the welfare of our people.

APEC Leaders represent 21 member economies that spanfour continents, are home to more than 2.6 billion peopleand represent 56% of world GDP (US$23 trillion) and 48%(US$8 trillion) of world trade. Leaders of APEC economiesmeet annually to discuss a range of issues that are focusedon economic growth and prosperity for the region. At thisyear's APEC Economic Leaders' Meeting, held on November18 and 19 in Busan, Korea, they issued the Busan Declaration,a stand-alone statement on the WTO's Doha DevelopmentAgenda Negotiations, and an oral pronouncement on NorthKorea.

APEC Korea 2005

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Safe andTransparentAsia-Pacific

Region:Enhancing

HumanSecurity

To respond to new challenges that emergedfrom the evolving international tradeenvironment and to reach the Bogor Goalsby the declared timelines, we endorsed theBusan Roadmap to the Bogor Goalscomposed of:• Support for the Multilateral Trading

System;• Strengthening Collective and Individual

Actions;• Promotion of High-Quality Regional Trade

Agreements and Free Trade Agreements(RTAs/FTAs);

• Busan Business Agenda;• A Strategic Approach to Capacity Building;

and• The Pathfinder Approach.

We reaffirmed our commitment to advanceeconomic and technical cooperation(ECOTECH) to ensure equitable growth andshared prosperity in the region. Weunderscored that ECOTECH was not onlyimportant by itself, but also a cross-cuttingissue relevant to advance trade and investmentliberalization and facilitation.

We welcomed, in particular, one element ofthe Busan Roadmap, the Busan BusinessAgenda, which, in response to the specificconcerns of our business community, calls forfurther reductions in trade transaction costsby five percent by 2010, a comprehensivebusiness facilitation program, and new workon intellectual property rights (IPR), tradefacilitation, anti-corruption, investment, andsecure trade.

We agreed that high-quality RTAs/FTAs wereimportant avenues to achieve free and opentrade and investment and called for ongoingwork to pursue high quality, transparency

and broad consistency in RTAs/FTAs in theregion. We also welcomed the APEC TradeFacilitation Model Measures for RTAs/FTAsthat would serve to function as a meaningfulreference for negotiating RTAs/FTAs, andcalled for the development of model measuresfor as many commonly accepted FTA chaptersas possible by 2008.

In recognition of the importance of strongIPR protection and enforcement to economicgrowth and trade in the Asia-Pacific region,we welcomed the APEC Anti-Counterfeitingand Piracy Initiative and endorsed the modelguidelines to stop international trade incounterfeit and pirated goods, reduce on-line piracy, and prevent the sale of counterfeitand pirated goods over the Internet. We alsocalled for future work to address IPRprotection and enforcement challenges inthe region in 2006 in close consultation withthe private sector.

We instructed Ministers to work on behind-the-border issues in order to enhance thebusiness-friendly environment in the Asia-Pacific. We welcomed the adoption of theAPEC Work Plan on the Leaders' Agenda toImplement Structural Reform toward 2010(LAISR 2010) as a policy-oriented approachto bring about needed structural reforms.We also welcomed the initiative to developa Private Sector Development agenda forAPEC to create an enabling environment forsmall businesses.

We took note of the recommendations fromthe APEC Business Advisory Council (ABAC). We will continue to work with the businesssector in our venture towards improving thebusiness environment in the Asia-Pacific.

We condemned terrorist acts in the regionthat took thousands of lives and aimed todestabilize economic prosperity and securityin the Asia-Pacific region. These acts constitutea clear challenge to APEC's goal of advancingprosperity and its complementary mission ofenhancing security. To confront these ongoingthreats, we reaffirmed our commitment madein Bangkok and Santiago to review progresson our efforts to dismantle trans-boundaryterrorist groups, eliminate the threat ofweapons of mass destruction and their meansof delivery, and confront other direct threatsto our region, and to take the appropriateindividual and joint actions to further theseimportant goals. We affirmed our commitmentto ensure that any measure taken to combatterrorism comply with all relevant obligationsunder international law, in particularinternational human rights, refugee andhumanitarian law.

We encouraged implementation of APECcounter-terrorism, secure trade and safe travelcommitments. We welcomed new initiativeson the safe handling of and trade in radioactivesources, the reduction of airport vulnerabilityto Man-Portable Air Defense System(MANPADS), Total Supply Chain Security andthe APEC Framework for the Security andFacilitation of Global Trade. We welcomedthe successful Regional Movement Alert List(RMAL) pilot and work on its expansion in2006, and capacity building undertaken toadvance ship and port security standards andother security initiatives.

We recalled the horrific regional naturaldisasters of the past year and conveyed ourcondolences to the bereaved families. Wecommitted to protecting our economies bytaking action to lessen the impact from futuredisasters and improve our collective responsecapability. We commended Ministers for theirswift response to disasters this year.

We endorsed the APEC Initiative on Preparingfor and Mitigating an Influenza Pandemic,which commits our economies to effectivesurveillance, transparency and openness, andclose domestic, regional and internationalcoordination and collaboration. We alsocommitted to multi-sectoral preparednessplanning, timely data and sample sharing,science-based decision-making regarding tradeand travel, and early implementation, whereappropriate, of the revised International HealthRegulations. We supported efforts of theWHO, FAO, OIE, and the InternationalPartnership on Avian and Pandemic Influenza,the outcomes of the APEC Meeting on AvianInfluenza Preparedness and the Health

Ministerial on Global Pandemic InfluenzaReadiness in 2005, and looked forward tothe APEC Symposium on Emerging InfectiousDiseases in 2006.

We agreed on collective, practical measures,including: strengthening cooperation andtechnical assistance among APEC economiesto limit avian influenza at its source andprevent human outbreaks; developing a listof available and funded regional experts andcapabilities for responding rapidly to pandemicinfluenza in its early stages; testing pandemicpreparedness, beginning with a desk-topsimulation exercise in early 2006 to testregional responses and communicationnetworks; enhancing public and businessoutreach and risk communication; andexchanging information on border screeningprocedures and controls to increasetransparency and to reduce risk to trade andtravelers.

We shared our concern on the impact of highoil prices and agreed to respond to it urgentlyby addressing the supply and demand of theenergy market simultaneously through:cooperative efforts to increase investment,to expand cross-border trade and to accelerateenergy technology development, therebyreducing the region's vulnerability andsecuring its energy supply; and promotion ofenergy efficiency and conservation anddiversification measures, which would helpto reduce the demand of fossil fuels andlower speculative demand in the oil industry.We emphasized the need to develop increasedenergy resources in ways that addressedpoverty eradication, economic growth, andpollution reduction, and the need to addressclimate change objectives. In this context,we welcomed the UN Climate ChangeConference to be held in Montreal, Canada,later this year.

We agreed to intensify regional cooperationto deny a safe haven to officials andindividuals guilty of corruption, those whocorrupt them and their illicitly-acquired assets,and to prosecute those engaged in bribery,including in international businesstransactions. We further agreed that theimplementation by our relevant economiesof the principles of the United NationsConvention against Corruption can have apositive impact in advancing our commitmenttowards a cleaner and more honest andtransparent community in the Asia-Pacificregion. We welcomed the signing of theABAC Anti-corruption pledge by the CEOs atthe APEC 2005 CEO Summit and encouragedpublic-private partnership in this campaign.

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1 APEC economies that are not WTO members, theRussian Federation and Viet Nam, are negotiatingto become WTO members and their support tothis stand-alone Statement on the DDAnegotiations should be without prejudice to theterms and position of their accession negotiationsto the WTO.

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APEC'sProgress intothe Future

We are confident that important milestoneshave been set this year in paving the way forAPEC's future. We firmly believe APEC willincreasingly contribute to its members’prosperity and meet any new challenge withconfidence.

We acknowledged the importance of ensuringthat all of our citizens have the opportunityto share the benefits generated by tradeliberalization and economic growth. We agreedto conduct a study of ways to confront thechallenges and impediments related to socio-economic disparity issues. APEC intends tobuild on its ongoing work to expand the circleof beneficiaries of economic growth throughsuch means as providing economic andtechnical cooperation, particularly, measuresof capacity building, encouraging economicreforms and fighting corruption.

We recognized the significant contributionsthat women have made to the economicdevelopment of the region and committed toensuring the integration of gender in theactivities across all APEC fora.

We highlighted the importance of innovationand sharing advanced technologies amongmembers in the years to come. Weacknowledged the efforts made in reachingthe Brunei Goals and instructed Ministers tomaintain the momentum. We endorsed infull the message that APEC imparted to theWorld Summit on Information Society (WSIS).We welcomed the concrete outcomes of APECReform efforts taken this year in making APECmore efficient and result-oriented. Weinstructed Ministers to continue to work onAPEC Reform to respond to new concernsfrom member economies, civil society andbusiness. We endorsed the measures takento increase the productivity of APEC activitiesrelated to economic and technical cooperation.

We noted that our efforts have contributedto creating an Asia-Pacific community andwelcomed the contribution of the culturalagenda to the efforts by facilitating a deeperunderstanding among the people andlowering psychological barriers.

We endorsed in full the Joint Statement agreedby Ministers at the 17th APEC MinisterialMeeting.

1. We, the APEC Economic Leaders1 , believethat the WTO Doha Development Agenda(DDA) negotiations have an unmatchedpotential to strengthen the multilateraltrading system, promote global economicgrowth and, in particular, improve economicdevelopment opportunities for developingcountries. Achieving the DDA is a crucialcomponent of the global partnership toachieve the Millennium DevelopmentGoals. For this reason, the Doha Roundmust be carried to a successful conclusion– at the high level of ambition establishedin the Doha Declaration – by the end of2006.

2. APEC economies, which represent closeto 50 per cent of world trade and almost60 per cent of global GDP, have benefited

greatly from an open trading system.Average tariffs of APEC economies havebeen reduced by two-thirds in the last 15years. This has been a period of rapideconomic growth, particularly for APEC'slower income economies. The Doha Roundis essential to keeping APEC economieson this path of growth and development. It is also essential for all WTO members.

3. The Hong Kong Ministerial will be a criticalstep in achieving this goal. Significantprogress must be made in Hong Kong inresolving still remaining considerabledivergences and a clear roadmap forcompletion of the Round in 2006 mustbe established. There is more at stakehere than just another phase of economicliberalization. A successful conclusion of

13th APEC Economic Leaders' Meeting:Statement on Doha DevelopmentAgenda NegotiationsBusan, Korea, 18-19 November 2005

the Doha Round is crucial for the futurecredibility of the WTO and the rules-basedmultilateral trading system.

4. All WTO members must achieve anambitious and overall balanced outcomeat the end of the Round, which include,among others: a comprehensive packagein agriculture to ensure substantialreductions in trade distorting domesticsupport, substantial improvements inmarket access by significantly loweringtariffs and reducing quantitativerestrictions, and the elimination of all formsof export subsidies of developed membersby 2010; an agreement on non-agriculturalmarket access through a Swiss formulawith ambitious coefficients and sectoralagreements on a voluntary basis that willensure real market access improvementsfor all WTO members; an agreement inservices that will create commerciallymeaningful and real market accessopportunities in all WTO members;clarification and improvement of the WTOrules for securing and enhancing benefitsin market access that will ensure clearerand more predictable trade disciplines;and clearer and improved WTO rules for

trade facilitation that will contribute tofurther expediting the movement, releaseand clearance of goods.

5. We call for breaking the current impassein agricultural negotiations, in particularin market access, which will unblock otherkey areas, including non-agriculturalproducts and services. Unless progress ismade in this area, we cannot makeprogress in the Round as a whole. Avoidingor compromising our ambition on this issuewould mean that we would lowerexpectations for the Round as a whole.

6. We must ensure that the DDA reflects thedevelopment dimension in all negotiatingareas and delivers real developmentbenefits. The DDA should also take intoaccount the needs and interest ofdeveloping members and, in particular, thespecial needs of the least developedcountries (LDCs). We look forward to aconsiderable progress on the LDC issuesat the Hong Kong Ministerial.

7. We, the APEC Leaders, are committed toface up to the political challengesassociated with the DDA. We are ready

to provide strong politicalleadership and the commitmentnecessary to produce in HongKong a sound platform forsuccessfully concluding thenegotiations. We urge all otherWTO members, and especiallythose that have the largeststake in the global tradingsystem and derive the biggestbenefits therefrom, to show theflexibilities needed to move thenegotiations forward by andbeyond Hong Kong.

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Sub-themesMinisters recognized that APEC economieshad achieved significant liberalization andfacilitation of trade and investment since1994. It is also noted that the rewards fromthese policy choices have been substantialand have contributed to sustained economicgrowth and significant welfare improvementsin the region.

APEC remains fully committed to achievingthe Bogor Goals of free and open trade andinvestment in the Asia-Pacific by 2010 fordeveloped members and 2020 for developingmembers as stipulated in the BogorDeclaration. During the Ministerial Meeting

in November APEC members emphasizedthat the Bogor Goals, the core organizingprinciple of APEC, is aimed at promotingsustainable growth and prosperity in theregion.

The Mid-term Stocktake of Progress Towardsthe Bogor Goals and the Busan Roadmap tothe Bogor Goals demonstrates APEC's goodprogress towards meeting its objectives anddevelops a plan for achieving the Bogor Goalsin order to meet the expectations of thebusiness community in facilitating businessactivities.

PrioritiesProtecting and enforcing Intellectual PropertyRights (IPR) is essential to building aknowledge-based economy and are keyfactors for boosting economic development,promoting investment, spurring innovation,developing creative industries and drivingeconomic growth. Member economies fullysupported the APEC Anti-Counterfeiting andPiracy Initiative adopted at the June 2005meeting of APEC Ministers Responsible forTrade.

The APEC Model Guidelines to Reduce Tradein Counterfeit and Pirated Goods, to Protect

Against Unauthorized Copies, and to Preventthe Sale of Counterfeit Goods over theInternet, as called for in the APEC Anti-Counterfeiting and Piracy Initiative was alsoendorsed by member economies this year.The model guidelines and templates were atimely policy response to the emergingchallenges of online piracy and trade incounterfeit and pirated goods and arevaluable tools to help economies strengthentheir IPR protection and enforcement regimes,as well as to raise public awareness aboutthe importance of this issue.

The establishment of the APEC Support Fund(ASF) and Australia's contribution of threeAU$3 million towards the establishment ofthe fund will provide an important means tosupplement resources available for APEC'scapacity building work.

The SOM Steering Committee on Economicand Technical Cooperation (SCE, formallyknown as ESC) made progress to promoteeconomic and capacity building activities(ECOTECH) in APEC while member economiesendorsed the 2005 Senior Officials' Reporton Economic and Technical Cooperation andthe recommendations therein.

The conclusion of the second Policy Dialoguebetween APEC and International FinancialInstitutions (IFIs) and the Organization forEconomic Cooperation and Development(OECD), held in Gyeongju in September, foundsynergy in promoting capacity building forMicro, Small, and Medium Enterprises(MSMEs) and trade facilitation for developingmember economies in APEC.

In building the capacity of economies throughpolicy dialogues and exchanges, the HumanResources Development Working Group(HRDWG) played an important role in thework on developing a Strategic Action Plan

Advancing Freer TradeLeaders and Ministers reaffirmed the utmostimportance APEC economies attached to thesuccessful conclusion of the DDA negotiationsby the end of 2006 with an ambitious andoverall balanced outcome. APEC membereconomies agreed that the 6th WTOMinisterial Conference in Hong Kong, Chinawould be a critical step in achieving this goaland that significant progress must be madein the Ministerial in resolving considerabledivergences, and a clear roadmap forcompleting the Round in 2006 must beestablished.

The APEC Geneva Caucus undertook workto advance the DDA negotiations, especially

in the area of tariff elimination of IT productsand of trade facilitation, and will continueits work with a view of sharing APEC'sexperience with WTO members, contributingto the successful outcome of the 6th WTOMinisterial Conference and promoting anambitious and balanced conclusion of theDDA negotiations.

The first policy-oriented WTO CapacityBuilding Workshop on Best Practices in TradeFacilitation Capacity Building was held in Jejuin May. Additionally, the APEC/WTO TradeFacilitation Roundtable 2005 held in Genevain February provided a unique opportunityto share APEC's expertise in trade facilitationwith WTO members.

Renew the Commitment to the Bogor Goals

Ensure Transparent and Secure Business Environment

Build Bridges Over Differences

Outcomes 2005

Towards One Community:Meet the Challenge, Make the Change

for English and other languages,and preparing business leadersand managers for globalization,focusing on such themes asentrepreneur development, riskmanagement, international rulesand standards, and trans-boundaryenvironmental issues.

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The APEC Counter Terrorism Action Plans(CTAPs) identified capacity and gaps inregional security frameworks. Membereconomies reiterated their resolve to securingtrade in the APEC region. The 3rd SecureTrade in the APEC Region (STAR III)Conference held in Incheon in Februaryaddressed maritime and aviation securityissues and recommended that membereconomies engage in cooperative effortswith international organizations such as theInternational Atomic Energy Agency (IAEA),World Customs Organization (WCO),International Maritime Organization (IMO),and International Civil Aviation Organization(ICAO), and promote the adoption by allAPEC members of specific trade securityprograms proposed by these organizations.

With the aim to facilitate secure trade, reducepublic health hazards and the threat ofeconomic disruption through incidents relatedto radioactive materials, relevant membereconomies agreed to implement theInternational Atomic Energy Agency code ofConduct on the Safety and Security ofRadioactive Sources as well as the Guidanceon the Import and Export of RadioactiveSources by the end of 2006. To mitigate thethreat of Man-Portable Air Defense Systems(MANPDS) to civil aviation, membereconomies agreed to undertake a MANPADSVulnerability Assessment at Internationalairports by the end of 2006.

To enhance regional security membereconomies will advance an APEC initiativeon capacity building for Machine-readableTravel documents (MRTD) and biometricstechnology to ensure that all members issueMRTs, if possible, with biometric informationby the end of 2008.

Members affirmed their commitment toensure that any measures taken to combatterrorism comply with all relevant obligationsunder international law, in particularinternational human rights, refugee law andhumanitarian law.

Work on the APEC Framework for the Securityand Facilitation of Global trade will createan environment for the secure and efficientmovement of goods, services and peopleacross the borders. This framework is basedon the World Customs Organization (WCO)Framework of Standards to Secure andFacilitate Global Trade.

The Initiative on Preparing for and Mitigatingan Influenza Pandemic, with the aim ofstrengthened collective action and individualcommitment on a multi-sectoral basis toprepare for and respond to an influenzapandemic was endorsed by Ministers. Alsoendorsed were the recommendations of thecross-sectoral APEC Symposium on Responseto Outbreak of Avian Influenza andPreparedness for a Human Health Emergencyheld in San Francisco in July. Thoserecommendations sought to minimize thethreats to animal and human health,

Safeguarding Human Security: Counter-Terrorism, Energy Security, Health and DisasterResponse and Preparedness

P r o g r e s s wa s m a d e i nimplementing the Pathfinder onTrade and Digital Economy, inparticular, the completion of thesurvey of member economies' BestPractices for Combating OpticalDisk Piracy and the discussions onpossible technology choiceprinciples. Outcomes of thedialogue on technology choice in

February 2005 focused on the relationshipbetween the promotion of innovation andthe development of knowledge-basedeconomies and technology neutral policiesand regulations; open, international, andvoluntary standards; and non-discriminatory,transparent, technology neutral, and meritbased government procurement policies.

Sharing Prosperity of the Knowledge-Based Economy: Protecting Innovation andExpanding Digital Opportunity

The Daegu Initiative on SMEInnovation Action Plan wasadopted at the 12th APECMinisterial Meeting on SMEs. Itprovided the Innovation ActionPlans for member economies toreview and improve their economicand policy environments for SMEinnovation, both individually andcollectively. Member economieswelcomed the APEC SMEInnovation Centre in Korea that

would link SMEs with supporting organizationsof member economies.

Acknowledging that issues like tradefacilitation, transparency and businessregulations and administrative procedures hadnoteworthy effects on the development of theprivate sector, especially SMEs, membereconomies welcomed the initiative to developa Private Sector Development agenda toimprove the business environment in the regionand to continue to support the development

Supporting Small and Medium Enterprises and Micro-Enterprises (SMEs/MEs)and Gender Integration

In 2005 the report on APEC Reform andFinancial Sustainability was issued. It focusedon three areas: APEC financial reform, higherefficiency through better coordination andcontinuous reform.

There was shared understanding amongOfficials to increase members' annualcontributions in 2007 and 2008 in accordancewith each member's financial procedures asa way to ensure APEC financial sustainability.

APEC Reform

of SMEs in terms of raising their competitivenessin the marketplace. They noted that such effortswould build on existing areas of APEC worksuch as trade facilitation, transparency andregulatory reform, promote the sharing of bestpractices and support the outcomes of the12th APEC SME Ministerial Meeting and focuson capacity building.

The Gender Focal Points' Network (GFPN) wascommended for its efforts to integrate genderissues into APEC processes and activities.

The decision was also made to improve theproject assessment procedure throughappropriate division of labor between theBudget and Management Committee (BMC)and the APEC Secretariat.

Officials made the decision to transform theSOM Committee on ECOTECH (ESC) into theSOM Steering Committee on ECOTECH (SCE).The coordination of ECOTECH activities willbe strengthened with the establishment of

the Steering Committee onECOTECH (SCE) based on therecommendation of SeniorOfficials.

Member economies will keep theAPEC reform agenda a priorityitem in the future to make APECmore effective and reliable.

Given the importance of strong IPRregimes in the region, economieswill take further steps that buildon the APEC Anti-Counterfeitingand Piracy Initiative in the comingyear, in consultation with theprivate sector so as to reduce tradein counterfeit and pirated goods,curtail online piracy, and increasecooperation and capacity buildingin this area.

While member economies welcomed theoutcomes of the APEC Anti-Corruption andTransparency Symposium (ACT Symposium)they urged greater action to combat corruptionand to improve transparency.

All member economies were encouraged totake all appropriate steps towards effectiveratification and implementation, whereappropriate, of the United Nations ConventionAgainst Corruption (UNCAC).

Fighting Corruption

CEOs at this year's APEC CEO Summit madean anti-corruption pledge and wereencouraged to continue collaboration betweenthe APEC ACT Task Force and ABAC.

Recognizing the importance of uninterruptedinformation flow, member economiesendorsed the International ImplementationGuidance Section of the APEC PrivacyFramework and commended the ElectronicCommerce Steering Group (ECSG) for itscompletion and publication of the APECPrivacy Framework.

i n c l u d i n g t h e t h r e a t o ftransmission from animal tohuman, as well as the economicconsequences of avian and otherpandemic influenza.

Member economies committed toaccelerating APEC's ongoing workon infectious disease threats suchas avian influenza and HIV/AIDS.They welcomed the outcome ofthe APEC Workshop on HIV/AIDSManagement in the Workplace inBangkok and the APEC Workshopon HIV/AIDS and Migrant-MobileWorkers. The need to enhanceprevention, treatment, and carecapacity in developing economies,including the provision of anti-retroviral (ARV) in developingeconomies was stressed.

Member economies endorsed theAPEC Strategy on Response toand Preparedness for Emergencyand Natural Disasters andwelcomed the establishment ofthe APEC Task Force on EmergencyPreparedness in order tocoordinate work in APEC, identifycapacity building gaps in membereconomies and explore a meansto enhance APEC's preparednessfor disasters and emergencies ofall kinds.

The report of the APEC Focal PointNetwork on Cross-CulturalCommunication (CFPN), issued in2005, identified areas which couldfoster mutual understandingamong member economies. Thescope of activities included

Promoting Cross-Cultural Communication

exchange programs among artists and youngpeople, organizing events and festivals,information-sharing and networking.

Contr ibut ing to enhancing mutualunderstanding among APEC membereconomies and paving the way for further

development of APEC's cultural cooperationactivities, the APEC process included the APECFilm Week with films covering a range oftopics including social issues, relationshipsand historical themes.

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The APEC 2006 theme, sub-themes, and priorities representthe main areas on which APEC members and fora will focustheir efforts throughout 2006 in order to produce meaningfuland concrete deliverables for submission to APEC Ministersand Leaders.

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Sub-themes

The 2006 APEC theme promotes the role ofsustainable development as a means toachieve the goal of common prosperity forthe Asia-Pacific region. The theme highlightsthe need for the APEC community to bedynamic so as to effectively deal with thechallenges of a fast-changing internationalenvironment.

This view is shared by both developing andindustrialized economies in our region as weseek to ensure that the APEC process is"human-oriented" and responsive to the UNMillennium Development Goals.

Enhance Trade and Investment with the Busan Roadmapand the Doha Development Agenda

Towards a Dynamic Communityfor Sustainable Development andProsperity

The adopted Busan Roadmap is consideredas guidance for APEC to achieve the BogorGoals. Its effective implementation will helperase many barriers and facilitate freer flowsof trade and investment in our region.

APEC will contribute to securing thesuccessful conclusion of the WTO DohaDevelopment Agenda negotiations as agreed

by the 6th WTO Ministerial Conference inHong Kong, China last December. Bypromoting this development aspect of themultilateral trading system we will helpbring about great opportunities to hundredsof millions of people to gain further fromfreer trade; particularly trade in agriculture,services, and investment for shared prosperityand development.

Strengthen Economic and Technical Cooperation for GapBridging and Sustainable Development

Economic and Technical Cooperation canhelp improve member economies' capacityto catch up and benefit from theliberalization process so as to narrow thegap and enhance sustainable development,and to integrate more actively into the globalsystem.

APEC's capacity building agenda needs tobe strengthened with increased programsand initiatives to improve human capacityand skills in the APEC region. As stated inthe Busan Roadmap, building up a strategicapproach to capacity building, among others,will be of great significance for reachingtowards the Bogor Goals.

APEC Viet Nam 2006 Theme, Sub-themes and ProposedPriorities of APEC 2006

APEC 2006Theme

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Improve Secure and Favorable Business Environment

A conducive regional business environmentrequires transparency in trading regimesand security from potential human-causedand natural disasters. APEC will work tominimize costs associated with cross-borderbusiness transactions through enhanced

cooperation among member economies,while dealing with the potential threatssuch as terrorism, pandemics and naturaldisasters through improving preparednessstrategies and response plans.

Promote Community Linkages

The prosperity of the APEC communitydepends as much on facilitating culturalexchange and strengthening cross-bordersocial relations as it does on economiccooperation.

APEC will promote greater people-to-peopleinteraction within the region through culturalexchange, fac i l i ta t ion of tour i sm

opportunities and youth participation.Member economies will promote culturalexchange and tourism activities not only tofacilitate business opportunities, job creationand economic growth but also to strengthenmutual understanding and friendship, thusheightening the sense of community in theAPEC region.

ProposedPriorities2

Enhance Human Security: Counter Terrorism, Health Security,Disaster Preparedness and Energy Security

It is important for APEC members tocooperate in enhancing preparedness torebuff all kinds of terrorist acts, naturaldisasters, emerging avian and pandemicinfluenza. Enhanced preparedness willdefinitely help minimize consequencescaused by these sources of insecurity and

thus facilitate a more secure environmentfor people and businesses in which to liveand work. Further measures should be takento respond to oil price volatility, energysupply disruptions and to address thebroader challenges facing the region'senergy security.

Anti-corruption

Building on past achievements, APECmembers need to further enhance theirconcerted efforts in curbing corruption by,among others, enhancing transparency, fine-tuning the legal system and law enforcement

to minimize any room for corruption. Apartfrom that, as instructed by APEC Ministersin 2005, it is necessary to promotecooperation between public and privatesectors on anti-corruption.

Connect APEC Economies Through Tourism and CulturalExchangeTo improve mutual understanding andcultivate a greater sense of communitybetween people from varied cultures, APECwill enhance connectivity among itsmember economies by facilitating culturalexchange and tourism promotion. It is

expected that the Ministerial Meeting onTourism held in Hoi An in October 2006will deliver a statement on strengtheningtourism cooperation among APEC membereconomies.

Reform APEC Towards a More Dynamic and EffectiveCommunity

APEC will take further actions to enhancethe coordination and efficiency of variousworking groups/fora/task forces thusimproving the project appraisal andmanagement so as to make projects more

reflective of APEC's priorities and fostercloser linkages between APEC Economicand Technical Cooperation (ECOTECH) andTrade and Investment Liberalization andFacilitation (TILF).

Scheduled Meetings of Leaders, Ministers andSenior Officials in 2006 can be found at

www.apec2006.vn14

2 Explanatory notes as of 12 Jan 2006.

Promote APEC Cooperation to Enhance Trade and Investment• APEC Support to the WTO/DDA• Implement the Busan Roadmap

APEC wil l do its best to promotedevelopment through trade and investmentand to ensure the successful conclusion andimplementat ion of the WTO DohaDevelopment Agenda with ambitious andoverall balanced outcomes.

To accomplish the works outlined in theBusan Roadmap, APEC will consider workingout a program to further advance theprogress towards APEC's Bogor Goals offree and open trade and investment.

Enhance Competitiveness of Small and Medium Enterprises

To improve the competitiveness of Micro,Small and Medium Enterprises (MSMEs) inthe context of globalization, APEC willexpand opportunities for them to benefitfrom favorable market access, new

technologies and improved skills, access tobasic resources and simplified businessregulations and related administrativeprocedures.

Promote Integration Capacity Through Human ResourcesDevelopment, IT Cooperation, and Partnership for Development

To facilitate the effective integration ofmember economies into the world economyand narrow the development gap amongthem, APEC will deliver improved capacitybuilding initiatives to enhance cooperation

in the areas of human resource development,knowledge-based economy, and informationtechnology and build partnerships fordevelopment.

On the basis of the tasking given by APECLeaders and Ministers in 2005 as well asthe above-mentioned theme and sub-themes, Viet Nam, together with fellowmember economies, has identified tentativepriorities for APEC 2006.

These priorities will be discussed in moredetail prior to adoption at the first SeniorOfficials' Meeting in Ha Noi.

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16 17

Key APEC Milestones

1989

Canberra, AustraliaAPEC begins as an informal Ministerial-level dialogue group with12 members.

1993

Blake Island, United StatesAPEC Economic Leaders meet for the first time and outline APEC’svision, “stability, security and prosperity for our peoples.”

1994

Bogor, IndonesiaAPEC sets the Bogor Goals of, “free and open trade and investmentin the Asia-Pacific by 2010 for industrialized economies and 2020for developing economies.”

1995

Osaka, JapanAPEC adopts the Osaka Action Agenda (OAA) which provides aframework for meeting the Bogor Goals through trade andinvestment liberalization, business facilitation and sectoral activities,underpinned by policy dialogues, economic and technicalcooperation.

1996

Manila, The PhilippinesThe Manila Action Plan for APEC (MAPA) is adopted, outliningthe trade and investment liberalization and facilitation measuresto reach the Bogor Goals and the first Collective and IndividualAction Plans are compiled, outlining how economies will achievethe free trade goals.

1997

Vancouver, CanadaAPEC endorses a proposal for early voluntary sectoral liberalization(EVSL) in 15 sectors and decides that Individual Action Plansshould be updated annually.

1998

Kuala Lumpur, MalaysiaAPEC agrees on the first nine sectors for EVSL and seeks an EVSLagreement with non-APEC members at the World TradeOrganization.

1999

Auckland, New ZealandAPEC commits to paperless trading by 2005 in developedeconomies and 2010 in developing economies. APEC BusinessTravel Card scheme is approved and a Mutual RecognitionArrangement on Electrical Equipment and a Framework for theIntegration of Women in APEC is endorsed.

2000

Bandar Seri Begawan,Brunei Darussalam

APEC establishes an electronic Individual Action Plan (e-IAP)system, providing IAPs online and commits to the Action Plan forthe New Economy, which, amongst other objectives, aims to tripleInternet access throughout APEC region by 2005.

2001

Shanghai,People’s Republic of China

APEC adopts the Shanghai Accord, which focuses on Broadeningthe APEC Vision, Clarifying the Roadmap to Bogor andStrengthening the Implementation Mechanism. The e-APECStrategy is adopted, which sets out an agenda to strengthenmarket structures and institutions, facilitate infrastructureinvestment and technology for on-line transactions and promoteentrepreneurship and human capacity building. APEC’s firstCounter-Terrorism Statement is issued.

2002

Los Cabos, MexicoAPEC adopts a Trade Facilitation Action Plan, Policies on Tradeand the Digital Economy and Transparency Standards. APEC’ssecond Counter-Terrorism Statement is delivered, along with theadoption of the Secure Trade in the APEC Region (STAR) Initiative.

2003

Bangkok, ThailandAPEC agrees to re-energize the WTO Doha Development Agendanegotiations. Actions are agreed to curb terrorist threats posedby Man Portable Air Defense Systems, to better co-ordinatecounter-terrorism activities and to implement the APEC ActionPlan on SARS and the Health Security Initiative. Stepping upefforts to build Knowledge-Based Economies, strengthening effortsto promote sound and efficient financial systems and acceleratingregional structural reform are also agreed.

2004

Santiago, ChileAPEC issues a strong statement of support for progress in theWTO Doha Development Agenda and sets a target date forachieving a breakthrough in negotiations: December 2005, theconvening of the Sixth WTO Ministerial Conference. APEC adoptsBest Practices for RTAs and FTAs, the Santiago Initiative forExpanded Trade and a Data Privacy Framework. APEC reiteratesits “unmistakable resolve” to confront the threat of terrorism,and makes a political commitment to fight corruption and ensuretransparency, and endorses a specific Course of Action towardsthis end.

2005

Busan, KoreaAPEC adopts the Busan Roadmap, completes the Mid-TermStocktake which has found that APEC is well on its way to meetingthe Bogor Goals, and the APEC Privacy Framework. Leaders issuea stand-alone statement in support of a successful conclusion tothe WTO's 6th Ministerial Meeting in Hong Kong, China andagree to confront pandemic health threats and continue to fightagainst terrorism which could cause deep economic insecurityfor the region.

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The Asia-Pacific Economic Cooperation (APEC)forum was established to take advantage ofthe growing interdependence among Asia-Pacific economies3, by facilitating economicgrowth for all participants and enhancing asense of community in the region. It aims tohelp improve trade and economicperformance and regional links for theprosperity of the people in the region.

Since its inception in 1989, APEC has helpedto reduce tariffs and other barriers to tradeacross the Asia-Pacific region. APEC has

worked to create an environment to ensurethe safe and efficient movement of goods,services and people across borders in theregion through policy decisions and economicand technical cooperation. During this period,APEC member economies have grown anddeveloping economies, in particular, haveexperienced increases in GDP and standardsof living. The economies of APEC generated70% of global economic growth in the first10 years of APEC's existence, making theregion the most economically dynamic in theworld.

19

Member Economy Area1 Population1 GDP1 GDP per capita1 Exports2 Imports2

and Year Joined ('000 sq km) (million) (US$bn) (US$) (US$m) (US$m)

Australia (1989) 7,692 20.2 692.4 33,629 86,551 103,863

Brunei Darussalam (1989) 6 0.4 5.7 15,764 4,713 1,638

Canada (1989) 9,971 32.0 1,084.1 33,648 315,858 271,869

Chile (1994) 757 15.4 105.8 6,807 32,548 24,769

China (1991) 9,561 1,299.8 1,851.2 1,416 593,647 560,811

Hong Kong, China (1991) 1 6.9 174.0 25,006 265,763 273,361

Indonesia (1989) 1,905 223.8 280.9 1,237 71,585 46,525

Japan (1989) 378 127.3 4,694.3 36,841 566,191 455,661

Korea (1989) 99 48.2 819.2 16,897 253,845 224,463

Malaysia (1989) 330 25.5 129.4 4,989 125,857 105,297

Mexico (1993) 1,958 105.0 734.9 6,920 177,095 171,714

New Zealand (1989) 271 4.1 108.7 26,373 20,334 21,716

Papua New Guinea (1993) 463 5.9 3.5 585 4,321 1,463

Peru (1998) 1,285 27.5 78.2 2,798 12,111 8,872

Philippines (1989) 300 86.2 95.6 1,088 39,588 40,297

Russia (1998) 17,075 144.0 719.2 5,015 171,431 86,593

Singapore (1989) 1 4.2 116.3 27,180 179,755 163,982

Chinese Taipei (1991) 36 22.5 335.2 14,857 174,350 168,715

Thailand (1989) 513 64.6 178.1 2,736 97,098 95,197

United States (1989) 9,364 293.0 12,365.9 41,815 818,775 1,469,704

Viet Nam (1998) 332 82.6 51.0 610 26,061 32,734

Source: 1 Economic Fact Sheets, http://www.dfat.gov.au/geo/fs2 The APEC Region Trade and Investment 2005

APEC is a unique forum operating on thebasis of open dialogue and equal respect forthe views of all participants. Decision makingwithin APEC is reached by consensus. Thereare no binding commitments; compliance ispromoted through peer pressure and, whenappropriate, supported by economic andtechnical cooperation. Through APEC,developing economies have as much say in

setting APEC's agenda as some of the largesteconomies in the world.

APEC's priorities and goals are set at annualmeetings of APEC Economic Leaders andMinisters. Officials and experts in APECmember economies carry out projects andother work to meet these goals. This work issupported by a secretariat based in Singapore.

3 The word 'economies' is used to describe APECmembers because the APEC cooperative processis predominantly concerned with trade andeconomic issues, with members engaging withone another as economic entities.

APEC

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APEC Organisation Chart

20

Osaka ActionAgenda

APEC works in three broad areas to meet itsgoals of free and open trade and investmentin the Asia-Pacific by 2010 for industrializedeconomies and 2020 for developingeconomies (These goals are often referred toas the 'Bogor Goals'). The three areas inwhich APEC works are:

• Trade and Investment Liberalization -reducing and eliminating tariff and non-tariff barriers to trade and investment,and opening markets.

• Business Facilitation - reducing the costsof business transactions, improving accessto trade information and bringing intoline policy and business strategies tofacilitate growth, and free and open trade.

• Economic and Technical Cooperation(ECOTECH) - assisting APEC membereconomies to build the necessarycapacities to take advantage of globaltrade and the New Economy.

Together, the outcomes assist APEC membereconomies to continue to grow and prosper.Tangible benefits are also delivered to thepeople of the region, through increasedchoices in the marketplace, cheaper goodsand services and improved access tointernational markets.

Over the last few years new threats to theeconomic well being of the region haveemerged. The commercial impact of theterrorist attacks on member economies,regional epidemics and the devastatingnatural disasters, reinforces the nexus of tradeand human security. APEC is meeting thesenew challenges through cooperative activitiesaimed at ensuring trade and economicdevelopment continues, whilst safeguardingthe people and economies of the region.

APEC's Scope of Work

21

Key Action Plans

The Osaka Action Agenda mapped out a pathto meet the Bogor Goals of free and opentrade and investment in the Asia-Pacific regionby 2010/2020. It provides a frameworkthrough a mix of individual and collectivesteps in liberalization, facilitation andeconomic-technical cooperation, underpinnedby policy dialogues. As part of this framework,General Principles have been defined formember economies as they proceed through

the APEC liberalization and facilitation process:• Comprehensiveness• Standstill• WTO-consistency • Simultaneous start, continuous process

and differentiated timetables• Comparability • Flexibility• Non-discrimination• Cooperation• Transparency

Individualand

CollectiveAction Plans

APEC member economies report progresstowards achieving free and open trade andinvestment goals through Individual andCollective Action Plans, submitted to APECon an annual basis. Individual Action Plans

(IAPs) contain a chapter for each specifiedpolicy area and report the steps that eachmember is taking to fulfill the objectives setout in the Osaka Action Agenda for eachaction area.

As specified in the Osaka Action Agenda,reporting is based on the following issueareas:• Tariffs• Competition Policy• Non-tariff measures• Government Procurement• Services• Deregulation/Regulatory Review• Investment• WTO Obligations (including Rules of

Origin)• Standards and Conformance• Dispute Mediation• Customs Procedures• Mobility of Business People• Intellectual Property• Information Gathering and Analysis• St rengthen ing Economic Lega l

Infrastructure

Each year, several APEC member economieshave their IAPs reviewed. These Peer Reviewsinvolve independent on-site research andanalysis by experts. The economy under reviewfields comments and questions from otherAPEC members and the APEC BusinessAdvisory Council. Collective Action Plans(CAPs) detail the joint actions of all APECmember economies in the same issue areas.CAPs are the compass by which APEC chartsits course towards the ultimate objective offree trade and investment.

APEC member economies also work withina framework to meet the free and open tradegoals. This framework comprises:• Actions by individual APEC economies;• Actions by APEC fora; and• APEC actions related to multilateral fora.

Senior OfficialsMeeting (SOM)

MinisterialMeeting

Leaders’ Meeting

APEC BusinessAdvisory Council

SectoralMinisterial Meetings

APECSecretariat

Working Groups

EconomicCommittee (EC)

Budget &Management

Committee (BMC)SOM SpecialTask Groups

Committee onTrade & Investment

(CTI)

SOM SteeringCommittee on

ECOTECH (SCE)

Every year one of the 21 member economies plays host to APEC meetings andserves as the APEC Chair. The APEC host economy is responsible for chairing theannual Economic Leaders’ Meeting, Ministerial Meetings, Senior Officials Meetings,the APEC Business Advisory Council and the APEC Study Centers Consortium.

Policy Level

Working Level

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23

The APEC Secretariat is staffed by a small team of program directors seconded from APECmember economies, professionals and permanent administrative staff. The Executive Directorand Deputy Executive Director positions rotate annually and are filled by officers of Ambassadorialrank from the current and incoming host economy, respectively.

APEC recognizes that strong and vibranteconomies are not built by governments alone,but by partnerships between governmentsand key stakeholders, including the businesssector, industry, academia, policy and researchinstitutions, and interest groups within thecommunity.

APEC member economies recognize thatbusiness drives the economies of the regionand involves business at all levels of the APECprocess. At the highest level, APEC EconomicLeaders communicate through annualmeetings with the APEC Business AdvisoryCouncil (ABAC). ABAC comprises high-levelbusiness people from all 21 APEC membereconomies.

Through the APEC Study Centers (ASC)Consortium, APEC member economies activelyengage academic and research institutionsin the APEC process. Amongst a range of keyactivities, the ASC Consortium facilitatescultural and intellectual exchanges in theAsia-Pacific region and assists the APECprocess by undertaking advanced,collaborative interdisciplinary and policy-relevant research from an independent andlong-term perspective. There are ASCs in 19APEC member economies, comprising 100universities, research centers and centers ofacademic excellence across the APEC region.

Detailed information on APEC's programs and activities can be found on the APEC Secretariatwebsite, www.apec.org

On the Web

2005 Annual Report to Ministers - APECCommittee on Trade and Investmentoutlines the accomplishments of the CTI overthe last 12 months and recommendations inthe key priority areas of APEC's trade andinvestment liberalization and facilitationagenda.

2005 APEC SOM Report on Economicand Technical Cooperation (ECOTECH)contains information on ECOTECH activitiescarried out by APEC fora and reports theimplementation of key ECOTECH initiatives.ECOTECH priorities include - Integration intothe Global Economy, CounterterrorismCapacity Building, Development of Knowledge-Based Economies, and Addressing the SocialDimensions of Globalization. .

APEC's Economic Committee Follow-upon Study on the Impact of APECInvestment L iberal izat ion andFacilitation is a new study that confirmedthat lowering barriers to foreign investmentwill help economies to be more competitiveand increase global trade share.

APEC Economic Committee ResearchProject on Patterns and Prospects onTechnological Progress in the APECRegion analyzes relevant indicators to identifythe salient features of technological progressin the APEC economies.

The APEC Secretariat - www.apec.orgThe web site contains information about APEC developments, issues and work programs andan APEC event calendar and links to key APEC websites.

Korea 2005 Website - www.apec2005.orgThe web site provides information about the meetings and outcomes of Korea year as wellas the schedule of meetings for 2005.

Viet Nam 2006 Website - www.apec2006.vnThe web site provides information about the themes and objectives of Viet Nam year as wellas a schedule of meetings in 2006.

Publications Key APEC Documents 2005 outlines thekey policy decisions and initiatives endorsedby Leaders and Ministers, which provide thedirection for on-going APEC work. Alsoavailable in this publication are the 2005APEC Leaders' Declaration and Statementsfrom Ministerial Meetings.

2005 APEC Economic Outlook updatesand summar izes recent economicdevelopments and short-term prospects forall APEC member economies. Also providedare the results of a study, “Role andDevelopment of Specialized FinancialInstitutions.”

Mid-term Stock-take of Bogor Goalswas prepared from input provided by all ofAPEC’s 21 member economies that was thenanalyzed by independent trade and economicexperts. The report found that barriers to tradeand investment have fallen significantly in theAPEC region since the creation of the APECprocess sixteen years ago. Notably, averageapplied tariffs in APEC member economiesdeclined from 16.9 per cent in 1989 to 5.5per cent in 2004. The report discussesachievements, notes challenges that lay aheadand outlines the ‘Busan Roadmap to the BogorGoals.’

APEC publications can be downloaded free of charge from the APEC Secretariat website,www.apec.org or hard copy publications can be purchased from APEC. Order by any of thefollowing:Phone: (65) 6775 6012Fax: (65) 6775 6013Email: jt@apec.orgMail: APEC Secretariat, 35 Heng, Mui Keng Terrace, Singapore 119616

OrderingPublications

The APEC Secretariat

APECStakeholderParticipation

22

2005 Executive Director, Ambassador Choi Seok Young2006 Executive Director, Ambassador Tran Trong Toan

The APEC Secretariat holds ISO9001:2000 Quality ManagementCertification. This recognizes thecontinuous efforts made by the APECSecretariat to provide high qualityadministrative and supportactivities. The APEC Secretariat isthe first international trade-relatedsecretariat to attain ISO certification.

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Inquiries about APEC may bedirected to the Secretariat or tothe following officials in themember economies:

AustraliaDirector, Media and OutreachAPEC Task ForceDepartment of Foreign Affairs & TradeR G Casey BuildingJohn-McEwen CrescentBarton ACT 0221Tel : (61-2) 6261 1111Fax : (61-2) 6261 3009E-mail : apec@dfat.gov.au

Brunei DarussalamDirectorDepartment of Economic CooperationMinistry of Foreign Affairs & TradeInternational Convention CentreJalan PulaieBandar Seri Begawan BB 3910Tel : (673-2) 383 200Fax : (673-2) 383 227E-mail : apecdesk_irtd@brudirect.com

alias.serbini@mfa.gov.bn

CanadaDeputy Director, APEC SectionInternational Economic Relations& Summit Division (EER)Department of Foreign Affairs &International TradeLester B. Pearson Building125 Sussex Drive, OttawaOntario K1A 0G2Tel : (1-613) 944 2187Fax : (1-613) 944 2732E-mail : apec.canada@international.gc.ca

ChileHead, Bilateral InternationalEconomic DirectorateGeneral Directorate of InternationalEconomic AffairsMinistry of Foreign AffairsAlameda B O'Higgins 20#1315, 2nd Floor, SantiagoTel : (56-2) 565 9304Fax : (56-2) 696 0639E-mail : apecdept@direcon.cl

Head, APEC DepartmentSee address details aboveTel : (56-2) 565 9350Fax : (56-2) 696 0639E-mail : apecdept@direcon.cl

People's Republic of ChinaAPEC Senior OfficialDeputy Director GeneralDepartment of International Organizations &ConferencesMinistry of Foreign AffairsNo 2 Chao Yang Men Nan Da JieBeijing 100701Tel : (86-10) 6596 3162Fax : (86-10) 6596 3160E-mail : apec-china@mfa.gov.cn

Hong Kong, ChinaAPEC Liaison OfficeTrade & Industry DepartmentHong Kong Special Administrative Region17/F, Trade & Industry Department Tower700 Nathan Road, KowloonTel : (852) 2398 5535Fax : (852) 2787 7799E-mail : hkcapec@tid.gov.hk

IndonesiaDirector for Intra-Regional Cooperation,Asia Pacific & AfricaDepartment of Foreign AffairsJl. Taman Pejambon No. 6Jakarta Pusat Jakarta10110Tel: (62-21) 381 1083Fax: (62-21) 384 4867E-mail: dirhenb@deplu.go.id

dithenb@deplu.go.id

JapanDirectorAPEC DivisionMinistry of Foreign Affairs2-2-1 Kasumigaseki, Chiyoda-kuTokyo 100-8919Tel : (81-3) 5501 8342Fax : (81-3) 5501 8340E-mail : hiroyuki.minami@mofa.go.jpcc : apec.japan@oregano.ocn.ne.jp

DirectorAPEC OfficeTrade Policy BureauMinistry of Economy, Trade & Industry1-3-1, Kasumigaseki, Chiyoda-kuTokyo 100-8901Tel : (81-3) 3501 1407Fax : (81-3) 3580 8746E-mail : shinoda-kunihiko@meti.go.jpcc : apec-meti@meti.go.jp

Republic of KoreaDirector for APECMinistry of Foreign Affairs & Trade95-1 Doryum-dongJongno-gu, Seoul 110-760Tel : (82-2) 2100 7652Fax : (82-2) 2100 7980E-mail : apeco@mofat.go.kr

MalaysiaDirectorAPEC DivisionMinistry of International Trade & Industry5th Floor, Block 10Government Offices ComplexJalan Duta, 50622 Kuala LumpurTel : (60-3) 6203 1294Fax : (60-3) 6203 1305E-mail : jayasiri@miti.gov.my

25

Contacts

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MexicoDirectorOffice for APEC Economic & TechnicalCooperation Affairs & Bilateral RelationsWith Asia-Pacific, Africa & the Middle EastMinistry of the EconomyAlfonso Reyes #30, 17th floorMexico 06140 D.F.Tel : (52-55) 5729 9365Fax : (52-55) 5729 9313E-mail : apecmx@economia.gob.mx

New ZealandDeputy Director (APEC)Economic DivisionMinistry of Foreign Affairs & TradePrivate Bag 18901, WellingtonTel : (64 4) 439 8067Fax : (64 4) 439 8545E-mail : nzapec@mft.govt.nz

Papua New GuineaDirector-General (PNG APEC Secretariat)Department of Prime Minister &National Executive CouncilMarauta HausP. O. Box 639, Waigani 131 N.C.DTel : (675) 327 6684/6574Fax : (675) 323 3903E-mail : apecpng@global.net.pg

PeruSenior Official of Peru to APECDirector of Asia & Oceania AffairsMinistry of Foreign AffairsJr Lampa No 545, 4th FloorLima 1Tel : (51-1) 311 2573Fax : (51-1) 311 2564E-mail : jcapunay@rree.gob.pe

rcasildo@rree.gob.pe

Republic of the PhilippinesSenior Official for APECDepartment of Foreign AffairsOffice of the Undersecretary for InternationalEconomic RelationsAPEC National SecretariatDepartment of Foreign Affairs14/F Floor, DFA Bldg.2330 Roxas Blvd, Pasay City 1300Tel : (63-2) 834 3019/3058/3047Fax : (63-2) 834 1451E-mail : ouier@dfa.gov.phcc : apecphil@yahoo.com

The Russian FederationAPEC Senior OfficialMinistry of Foreign Affairs32/34 Smolenskaya-Sennaya119200 MoscowTel : (7-095) 244 4128Fax : (7-095) 244 3917E-mail : apec.russia@mid.ru

SingaporePermanent Secretary &APEC Senior OfficialMinistry of Trade & Industry100 High Street #09-01The TreasurySingapore 179434Tel : (65) 6332 7207Fax : (65) 6334 8152E-mail : MTI_APEC@mti.gov.sg

Chinese TaipeiDirector GeneralDepartment of International Organizations &APEC Senior OfficialMinistry of Foreign Affairs2 Kaitakelan Blvd, TaipeiTel : (886-2) 2348 2550Fax : (886-2) 2382 1174E-mail : apecct@mofa.gov.tw

lhchuang@mofa.gov.tw

ThailandDirector-GeneralDepartment of International Economic AffairsMinistry of Foreign AffairsSri Ayudhya Road, RatchateweePhayathai Bangkok 10400Tel : (66-2) 643 5255Fax : (66-2) 643 5247E-mail : apecdesk@mfa.go.th

United States of AmericaUS Senior Official for APECEast Asian & Pacific Affairs BureauRoom 62052201 C Street, NWDepartment of StateWashington, DC 20520Tel : (1-202) 647 7266Fax : (1-202) 647 0941E-mail : dosapec@state.gov

adessoeg2@state.gov

Viet NamDeputy Director GeneralMultilateral Trade Policy DepartmentMinistry of Trade of Vietnam31 Trang Tien StreetHa NoiTel : (84-4) 8048 246Fax : (84-4) 8264 696E-mail : apec@mot.gov.vn

apec@mofa.gov.vn

APEC OFFICIAL OBSERVERS

Association of South East Asian Nation(ASEAN) SecretariatDirector for the Bureau of EconomicCooperationThe ASEAN Secretariat70A Jalan SisingamangarajaP O Box 2072, Kebayoran BaruJakarta, IndonesiaTel : (62-21) 726 2991 ext. 361Fax : (62-21) 739 8234E-mail : vinh@aseansec.org

Pacific Economic Cooperation Council(PECC)Acting Director GeneralPECC International Secretariat4 Nassim RoadSingapore 258372Tel : (65) 6735 1801Fax : (65) 6737 9824E-mail : peccsec@pecc.net

Pacific Islands Forum (PIF)Director, Trade and Investment DivisionPacific Islands Forum SecretariatRatu Sukuna RoadGPO Box 856Suva, FijiTel : (679) 3312 600Fax : (679) 3305 573E-mail : jaindrak@forumsec.org.fj

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The APEC Secretariat

35 Heng Mui Keng Terrace, Singapore 119616

Telephone:(65) 6775-6012 Facsimile: (65) 6775-6013

Email: info@apec.org Website: www.apec.org

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Copyright © 2005 APEC Secretariat APEC#206-SE-05.1 ISSN0219-3752