A short statement on regional trade liberalisation

Abstract

This issue paper will mainly focus on regional trade liberalisation in terms of the role that the Asia-Pacific countries can play in the remaining Uruguay Round negotiations and in facilitating the implementation of the GAIT agreement in the post-Uruguay Round. The successful conclusion of the Uruguay Round will have a far-reaching impact on the regional trade of the Asia-Pacific. Thus, countries in the Asia-Pacific should take an active interest and show firm leadership and initiative in the remaining Uruguay Round negotiations. Experts predict that the resumed Uruguay Round negotiations can be concluded, if not by the end of 1991, at least by the beginning of 1992. Conclusion of the Uruguay Round, however, is contingent on whether there is substantial and early progress in agricultural negotiations, which was the main cause of the failure of the Brussels Ministerial Meeting in 1990. Thus, it is meaningless to speak of a time schedule or deadline for the remaining Uruguay Round negotiations unless there is a serious political compromise on agriculture by major negotiating countries. Thus, at this moment, the most important action would be the drafting of a compromise agreement and the establishment of a firm deadline for agricultural negotiations. PECC countries, which include major negotiating countries such as the US, Canada, Japan, Korea and Asean, can facilitate the progress toward these goals by showing a strong united front in the multilateral trade negotiations.