XN000022-1995-06-07 — Page 3

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"We need to demonstrate that we have pulled together an action agenda which, once adopted by APEC Economic Leaders and faithfully pursued, will enable APEC economies to reach the goal set at Bogor."

Mr Miller, who is Hong Kong's appointed Senior Official to APEC, gave a talk entitled "Charting A Course for APEC - From Bogor to Osaka and Beyond" at a luncheon meeting of the New Zealand-Hong Kong Business Association.

He said the second Economic Leaders meeting at Bogor, Indonesia, last year set an unqualified goal of free trade and investment in the Asia-Pacific region by the years 2010 and 2020, for industrialised and developing economies respectively.

"It was a decision to ignore the theological questions, to set the goal clearly and leave Senior Officials and Ministers to work out how to get there later," he said.

"In effect, the Senior Officials of APEC have been charged with the task of drawing an action agenda which will lead to full liberalisation by the appointed dates."

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To this end, Mr Miller said the Osaka Declaration would need to meet three simple criteria

it must have a convincing and comprehensive timetable for the liberalisation of trade and investment, must bring specific trade facilitation benefits for businessmen, and must demonstrate to the wider world APEC members' determination to lead by example.

"To be convincing the timetable set at Osaka must be clearly spelled out. We would like agreement on member economies submitting their individual action plans next year, for review and adoption by leaders at their Manila meeting in November 1996, with implementation beginning on January 1, 1997," he said.

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"We would like agreement on subsequent phases commencing in 2000, 2005 and so on," he added.

Mr Miller said to be convincing the action agenda must also be comprehensive.

"Hong Kong's view of free trade is a simple one: no tariffs, no restrictions, no exceptions.. So in our view nothing should be excluded from the start," he said.

"While work may proceed at a different pace on different issues, both the collective and the individual elements of the Osaka package must embrace all aspects of liberalisation, facilitation and co-operation."

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