APEC LEADERS ECONOMIC VISION STATEMENT
Blake Island, Seattle
November 20, 1993
We have held an unprecedented
meeting of the economic leaders of the Asia-Pacific Economic Cooperation
forum. In this post Cold War era, we have an opportunity to build
a new economic foundation for the Asia Pacific that harnesses the
energy of our diverse economies, strengthens cooperation and promotes
prosperity.
Our meeting reflects the emergence of a new voice for the Asia
Pacific in world affairs. As we prepare to enter the twenty-first
century, we believe our dynamic region, representing forty percent
of the world's population and fifty percent of its GNP, will play
an important role in the global economy, leading the way in economic
growth and trade expansion.
The foundation of our economic growth has been the open multilateral
trading system. Therefore, we pledge our utmost efforts to bring
the Uruguay Round to a successful conclusion by December 15. We
are determined the Asia Pacific region will lead the way in taking
concrete steps to produce the strongest possible outcome in Geneva.
Increased participation by APEC economies in a strengthened GATT
system also will facilitate greater regional cooperation.
Our success has been the result of the ability of our societies
to adapt to changing circumstances. Our economies are moving toward
interdependence and there is a growing sense of community among
us. We are united in our commitment to create a stable and prosperous
future for our people.
Recognizing our economic interdependence as well as our economic
diversity, we envision a community of Asia Pacific economies in
which:
The spirit of openness and partnership deepens, enabling us to
find cooperative solutions to the challenges of our rapidly changing
regional and global economy;
We are a vast Asia Pacific market of two billion people where dynamic
economic growth continues, contributing to an expanding world economy
and supporting an open international trading system;
We continue to reduce trade and investment barriers so that our
trade expands within the region and with the world and goods, services,
capital and investment flow freely among our economies;
Our people share the benefits of economic growth through higher
incomes, high skilled and high paying jobs and increased mobility;
Improved education and training produce rising literacy rates,
provide the skills for maintaining economic growth and encourage
the sharing of ideas that contribute to the arts and sciences;
Advances in telecommunications and transportation shrink time and
distance barriers in our region and link our economies so that goods
and people move quickly and efficiently;
Our environment is improved as we protect the quality of our air,
water and green spaces and manage our energy sources and renewable
resources to ensure sustainable growth and provide a more secure
future for our people.
We recognize this vision will become a reality only if we work
together actively to secure it. We are convinced we can succeed.
We intend to use our shared vision as a guide for developing the
future of our region.
We reaffirm our support for the continued development of APEC as
a forum dedicated to producing tangible economic benefits to the
region. We urge APEC to expand its economic dialogue and advance
its specific work projects. The entrepreneurial spirit and market-oriented
policies that have driven our economic dynamism will continue to
be fostered within APEC.
We welcome the challenge presented to us in the report of the APEC
Eminent Persons Group to achieve free trade in the Asia Pacific,
advance global trade liberalization and launch concrete programs
to move us toward those long-term goals. We ask APEC to undertake
work aimed at deepening and broadening the outcome of the Uruguay
Round, strengthening trade and investment liberalization in the
region, and facilitating regional cooperation, including in such
areas as standards.
We agree to convene a meeting of APEC Finance Ministers to consult
on broad economic issues including macroeconomic developments and
capital flows. We believe such discussions will help us address
some of the challenges facing the region, including ensuring non-inflationary
regional growth, financing investment and infrastructure development,
and promoting capital market development.
We ask business leaders to establish a Pacific Business Forum to
identify issues APEC should address to facilitate regional trade
and investment and encourage the further development of business
networks throughout the region. We also ask APEC to strengthen its
policy dialogue on small and medium size business enterprises.
We agree to make an investment in our future generations by establishing
an APEC Education Program to develop regional cooperation in higher
education, study key regional economic issues, improve worker skills,
facilitate cultural and intellectual exchanges, enhance labor mobility
and foster understanding of the diversity of our region. We agree
to establish an APEC Business Volunteer Program to promote cooperation
among us in the areas of human resource development and the exchange
of management skills and techniques.
As members of APEC, we are committed to deepening our spirit of
community based on our shared vision of achieving stability, security
and prosperity for our peoples.
APEC Economic Leaders
Seattle, Washington
November 20, 1993
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