Senior officials from 21 APEC members met last week in Washington. The forum concluded on Sunday.
The Office of the U.S. Trade Representative said the group at the meeting 'made progress toward building a seamless regional economy in the Asia-Pacific by discussing practical and concrete ways to strengthen regional economic integration and expand trade, promote green growth, and advance regulatory cooperation and convergence.'
They also agreed to identify and address the most difficult barriers faced by small and medium-sized businesses trading in the region.
To specifically promote green economic growth, APEC members discussed how best to address non-tariff measures that affect trade in environmental goods, streamline import procedures for advanced technology demonstration autos, facilitate trade in remanufactured products, and combat trade in illegal logging.
To advance regulatory cooperation and convergence, the senior officials supported U.S. proposals to strengthen the implementation of good regulatory practices and improve the effectiveness of APEC’s regulatory cooperation activities. APEC economies also agreed to address issues that have the potential to act as barriers to trade in emerging green technologies, including smart grid technology.
The United States will host the APEC 2011 trade ministers meeting in May at Big Sky, Mont. The 21 APEC member economies account for more than half of the global economy and 44 percent of world trade. According to the USTR, seven of the top 15 U.S. trade partners are APEC members.
