Boracay, The Philippines (Antara Bali) - The Policy Support Unit
(PSU) of the Asia Pacific Economic Cooperation (APEC) supports the
Indonesian proposal to boost the trade of development products of the
region to improve economic balance between advanced and development
countries.
"A study by the PSU of APEC gave a positive signal to
support the proposal, which was forwarded by Indonesia a year earlier to
promote the trade of development products of Asia Pacific," Trade
Minister Rachmat Gobel said here on Sunday.
The proposal was made to identify correlations between trade of
products being studied and rural development and eradication of
poverty, Gobel said at a meeting of the Commission for Trade and
Investment (CTI) held on the sidelines of a meeting of APEC trade
ministers on this Philippine island of Boracay May 23-24.
Development products from Indonesia include palm oil, rubber, rattan and fishery products, Gobel said
The PSU of APEC saw the relevance of promoting trade of development products through cut of tariffs, he said.
The PSU of ApEC also saw there are many development products, which
are highly competitive and potential to increase in trade.
"In general farm products have more positive correlation with rural
development and eradication of poverty compared to industrial
commodities," the minister said.
The PSU of APEC was also of the opinion that support from a number
of non trade factors is needed to make rural development and eradication
of poverty more successful.
The factors include adequate transport and telecommunication
infrastructure, education, training and financial services, health
security , etc.
The Indonesian minister welcome the result of the study by the PSU
of APEC and expressed gratitude to the cosponsoring economies -- Brunei
Darussalam, Peru, China and Vietnam.
Proposal to promote the trade of development products was one of
the focuses of the Indonesian trade minister in meeting of APEC trade
ministers in 2015.
As a follow up of the result of the study by PSU, Indonesia will
hold dialogs on trade policies on development products in August in
Cebu, the Philippines, Gobel said. (WDY)
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