PRIME MINISTER
EMBARGO: MIDNIGHT, FRIDAY 14 OCTOBER, 1994
STATEMENT BY THE PRIME MINISTER, THE HON P J KEATING MP
RELEASE OF APEC PACIFIC BUSINESS FORUM REPORT: " A BUSINESS
BLUEPRINT FOR APEC: STRATEGIES FOR GROWTH AND COMMON PROSPERITY'
I am very pleased to welcome the report of the APEC Pacific Business Forum, " A business
blueprint for APEC: strategies for growth and common prosperity", which will be presented
to President Soeharto, the 1994 chair of APEC, in Jakarta today ( Saturday).
APEC leaders established the Pacific Business Forum in Seattle last year because we
wanted APEC business people to tell us what they think APEC should do to facilitate
regional trade and investment liberalisation. We thought that bringing together thirty-six of
APEC's top business people would result in some forward-looking and challenging
recommendations. And we were right. The PBF report is an ambitious, wide-ranging and
stimulating one.
I would particularly like to thank Australia's PBF representatives, Philip Brass. ( Managing
Director, Pacific Dunlop) and Imelda Roche ( Managing Director, Nutri-Metics) for the time,
vision and commitment they gave to this task.
Central to the PBF's vision for a dynamic and prosperous Asia-Pacific is the need for rapid
movement toward free trade and investment liberalisation in the APEC region. Perhaps
this is not surprising exports have driven Asia-Pacific growth over the last decade but it
is good to hear business voices speaking out in favour of trade liberalisation in their own
and other APEC economies.
As I have said before, Australia fully supports the idea of setting a serious, but realistic
date for the achievement of free trade in the APEC region. And APEC must achieve free
trade in a way that is consistent with GATIWTO principles and contributes to further
global trade liberalisation.
At our meeting next month in Bogor, APEC leaders will also give careful consideration to
the steps the PBF suggests on investment and the wide range of other issues which the
report covers ( many of which investment principles, standards and customs for example
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are already being addressed within APEC). The PBF report will be an invaluable
resource.
More generally, I consider it essential that APEC leaders ( and APEC generally) continue to
draw on the advice of the business community. I will be discussing possible mechanisms
for achieving this including the PBF's suggestion that APEC leaders establish an APEC
Business Advisory Forum with my fellow APEC leaders.
CANBERRA 14 October 1994