PHNOM PENH (Herald) - The Asia-Pacific Economic Cooperation (APEC) forum has agreed that regulatory coherence is important for regional economic integration, especially for strengthening regional supply chains, the group's secretariat said Sunday.
A statement said the agreement followed a meeting of senior officials in Moscow on Saturday ahead of a summit of APEC leaders in Vladivostok in September.
At their summit in Honolulu last year, leaders endorsed a study which identified a wide variation of practices to assess regulatory impacts and the 21 member economies are now working to close the gap, the statement said.
Clare Fearnley, the senior New Zealand official who chaired Saturday's meeting in Moscow, said the impacts of domestic regulation of trade and investment should be part of policy development.
“Coherence between domestic and international policy goals can be achieved through good regulatory impact analysis,” she said. “Regulatory cooperation reflects the goal of reducing the regulatory barriers to trade and investment created by different laws in different countries through cooperation between economies."
Vladimir Salamatov, the Russian Deputy Minister for Trade and Industry, said coherence within the customs union of Belarus, Kazakhstan and Russia involved consultations with business leaders and the highest levels of political leadership.
As an example, he cited children’s’ products, food items and machinery traded between the three countries. “Though it took a year to develop these regulations, the timeline was necessary in order to get critical inputs from the business community and ensure the sustainability of the system,” Salamatov said.
Clayton Harrington, the Australian manager for an APEC-funded project to enhance regulatory impact analysis in the region, said regulatory cooperation was an important area of focus for the 21-member group.
"Better regulation and better alignment of regulatory approaches can boost growth and deepen regional economic integration," Harrington said . “Improving regulatory development policies in the APEC region have the potential to significantly benefit all of the region’s economies.”
Harrington said a workshop of officials, business leaders and academics at Russia’s Ministry of Economic Development last week looked at the experiences of Australia, Mexico and New Zealand in tackling "inefficient and costly cross-jurisdictional regulation" through deregulation priority reforms, competition reform and improved regulatory processes.
“These workshops will be conducted across the region and the results will be reported to ministers when they meet in Vladivostok in September," he said.
Formed in 1989, APEC includes the United States, China, Japan and the seven more developed members of the Association of Southeast Asian Nations (ASEAN) as well as most of the region's other big economies except India.
A statement said the agreement followed a meeting of senior officials in Moscow on Saturday ahead of a summit of APEC leaders in Vladivostok in September.
At their summit in Honolulu last year, leaders endorsed a study which identified a wide variation of practices to assess regulatory impacts and the 21 member economies are now working to close the gap, the statement said.
Clare Fearnley, the senior New Zealand official who chaired Saturday's meeting in Moscow, said the impacts of domestic regulation of trade and investment should be part of policy development.
“Coherence between domestic and international policy goals can be achieved through good regulatory impact analysis,” she said. “Regulatory cooperation reflects the goal of reducing the regulatory barriers to trade and investment created by different laws in different countries through cooperation between economies."
Vladimir Salamatov, the Russian Deputy Minister for Trade and Industry, said coherence within the customs union of Belarus, Kazakhstan and Russia involved consultations with business leaders and the highest levels of political leadership.
As an example, he cited children’s’ products, food items and machinery traded between the three countries. “Though it took a year to develop these regulations, the timeline was necessary in order to get critical inputs from the business community and ensure the sustainability of the system,” Salamatov said.
Clayton Harrington, the Australian manager for an APEC-funded project to enhance regulatory impact analysis in the region, said regulatory cooperation was an important area of focus for the 21-member group.
"Better regulation and better alignment of regulatory approaches can boost growth and deepen regional economic integration," Harrington said . “Improving regulatory development policies in the APEC region have the potential to significantly benefit all of the region’s economies.”
Harrington said a workshop of officials, business leaders and academics at Russia’s Ministry of Economic Development last week looked at the experiences of Australia, Mexico and New Zealand in tackling "inefficient and costly cross-jurisdictional regulation" through deregulation priority reforms, competition reform and improved regulatory processes.
“These workshops will be conducted across the region and the results will be reported to ministers when they meet in Vladivostok in September," he said.
Formed in 1989, APEC includes the United States, China, Japan and the seven more developed members of the Association of Southeast Asian Nations (ASEAN) as well as most of the region's other big economies except India.
0 comments:
Please add comment to express your opinion, and share it on Twitter or Facebook. Thank you in advance.