TNAG-2241-FCO40-3222-Asia-Pacific-Economic-Cooperation-(APEC)-1991 — Page 76

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THE

STRONGER TRADE AND ECONOMIC ENTITY WHICH WOULD BECOME BOTH A MAJOR

EXPORTER AND A HUGE IMPORT MARKET. IT WAS IN THIS CONTEXT THAT EAEG HAD BEEN PUT FORWARD, AS A FORUM WITHIN WHICH ECONOMIES OF THE EAST ASIA REGION COULD LOOK AT WAYS OF ENHANCING TRADE, INCREASING ECONOMIC COOPERATION AND BECOMING A HAVEN FOR FOREIGN INVESTMENT.

GROUPING REPRESENTED NO THREAT TO OUTSIDERS: EAEG COULD NOT WORK IN

ISOLATION AND IT WOULD BE ECONOMICALLY UNWISE TO DISCARD STRONG

TRADITIONAL TRADE TIES. AS TRADE LIBERISATION EVOLVED IN THE EAEG ECONOMIES, THE REGION WOULD ASSUME FURTHER RESPONSIBILITIES IN THE WORLD TRADING SYSTEM BY PROVIDING MORE OPPORTUNITIES FOR THIRD

COUNTRY IMPORTS SO EVENING OUT THE IMBALANCE AND DIRECTION OF TRADE.

7. RAFIDAH'S ADVOCACY APPEARED TO HAVE LITTLE EFFECT ON A SCEPTICAL

AUDIENCE. THE ENSUING QUESTION AND ANSWER SESSION WAS ENTIRELY

DEVOTED TO EAEG. RAFIDAH'S DOGGED AND REPETITIVE REPLIES PRODUCED

LITTLE NEW: SHE COULD NOT BE MORE PRECISE ON PURPOSE OR MEMBERSHIP OF

EAEG (ASEAN ++

''ANY COUNTRY THAT FEELS ITSELF PART OF EAST ASIA'') AND FINALLY REDUCED THE CONCEPT TO A PLAINTIVE LOWEST COMMON DENOMINATOR OF JUST WANTING TO TALK'',

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8. LATER IN THE CONFERENCE, VICE-PRESIDENT QUAYLE DELIVERED A SPEECH IN WHICH HE STRONGLY REAFFIRMED THE US COMMITMENT TO THE ASIA-PACIFIC REGION, ENDORSED THE WORK OF APEC, CALLED FOR CONCESSIONS ON ALL SIDES TO SECURE A SUCCESSFUL CONCLUSION TO THE URUGUAY ROUND, CALLED ON JAPAN TO ASSUME A POLITICAL ROLE COMMENSURATE WITH ITS ECONOMIC STRENGTQ, DECLARED THAT THE US/CANADA/MEXICO FREE TRADE AGREEMENT WAS NOT INTENDED TO CREATE A TRADING BLOCK, AND CONCLUDED THAT THE PRACTICAL ELEMENTS OF US/ASIAN SECURITY STRATEGY (FORWARD DEPLOYED FORCET, OVERSEAS BASES AND BILATERAL SECURITY ARRANGEMENTS) WOULD REMAIN IN PLACE. THERE APPEARS TO BE NOTHING NEW IN ALL THIS AND DELEGATES WERE MORE IMPRESSED BY THE FACT THAT QUAYLE HAD TAKEN THE TROUBLE TO ATTEND THE MEETING THAN BY THE SUBSTANCE OF HIS SPEECH.

OTHER SESSIONS

9. THERE WERE ALSO SESSIONS ON THE PACIFIC ECONOMIC OUTLOOK, PACIFIC GROWTH AND ENERGY SECURITY IN THE 1990'S, PACIFIC GROWTH AND THE GLOBAL CAPITAL MARKET, THE TELECOMMUNICATIONS REVOLUTION IN THE PACIFIC AND CHALLENGES TO PACIFIC ECONOMIC COOPERATION. LITTLE NEW EMERGED. HONG KONG, PERU, MEXICO AND CHILE WERE FORMALLY ADMITTED AS MEMBERS. I AM FORWARDING BY BAG COPIES OF THE SPEECHES BY GOH, RAFIDAH AND QUAYLE TOGETHER WITH OTHER ASSORTED CONFERENCE DOCUMENTS.

CONCLUSION

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