XN000022-1995-10-20 — Page 7

· 5-

"We have not set about bringing down internal barriers only to maintain barriers to the outside world. We are committed to non-discrimination. We are committed to consistency with GATT/WTO rules. We are intent on leading the process of liberalisation by example not by establishing another trade bloc or free trade area," he said.

On the question of "free-riding", Mr Miller pointed out that Hong Kong's position had always been the trade barriers hurt those behind them more than those beyond.

"We are confident that bringing down the barriers in Asia will stimulate growth and will encourage trade with those outside the Asia-Pacific. We hope that you will respond in kind," he told the meeting.

Mr Miller said the Action Agenda was nine-tenths complete and he was confident that it could be finished off by the time Ministers gathered in Osaka.

Setting out how he thought the timetable for its implementation would unfold, he said first, APEC Senior Officials would present an ambitious and comprehensive Action Agenda to Ministers and Leaders for their endorsement in Ösaka next month.

"Second, by the subsequent Leaders' meeting in Manila in November next year, member economies will present equally comprehensive and ambitious plans for liberalisation and deregulation of their economies for implementation commencing January 1997," he said.

"Third, collective action already in hand to cut through the red-tape and bureaucratic hassle of different customs procedures, standards and the like will be pushed ahead in parallel and extended to embrace all those areas of trade and investment facilitation and deregulation which require common agreement and collective action.

"Fourth, the plans will be subject to a continuous process of review and revision right through to achievement of the goals set at Bogor in Indonesia last year."

On the search for a new approach to liberalisation and facilitation in the drawing up of the Action Agenda, he said: "The approach which has emerged from our deliberations is a hybrid, comprising both individual and collective action.