At their 1997 meeting, the APEC Economic Leaders recognized members'
efforts to improve the commitments in their Individual Action Plans
and reaffirmed their intention to update these annually. The Leaders
endorsed their Ministers' agreement that action should be taken
with respect to early voluntary sectoral liberalization (EVSL) in
15 sectors, with nine to be advanced throughout 1998 and implementation
to begin in 1999. The Blueprint for APEC Customs Modernization,
which put forward a comprehensive program to harmonize and simplify
customs clearances by the year 2002, provided a model of business
facilitation. The Leaders also believed that full and active participation
in and support of the WTO by all APEC economies is key to APEC's
ability to continue to strengthen the global trading system. The
Leaders welcomed the progress of APEC fora in involving business,
academics and other experts, women and youth in 1997 activities,
and encouraged them to continue these efforts. The Leaders applauded
the initiative to involve youth throughout APEC's activities in
1997 as continued prosperity in the region will depend on APEC's
ability to vest the next generation of leaders of the region with
the skills and knowledge they require. Leaders also noted the benefits
of electronic commerce and instructed that a work program on electronic
commerce be developed, taking into account relevant activities in
other international fora. The Leaders endorsed the Vancouver Framework
for Enhanced Public-Private Partnership for Infrastructure Development
as infrastructure is inextricably linked to the questions of financial
stability that APEC is addressing.
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