Leaders in free trade area talks
Print Edition
Leaders of the 21 nations and regions that comprise the APEC, meeting amid tight security on the tropical island of Bali in eastern Indonesia, urged faster work on reforms meant to break down trade barriers and improve competitiveness.
The annual gathering gives regional leaders the opportunity to thrash out policies to encourage trade and business cooperation, while also tackling country-to-country issues in meetings on the sidelines.
Countries involved in the US-led Trans-Pacific Partnership were haggling over their plans for a free trade area.
Contents of the trade talks have been kept secret. However, awkward issues such as protection of patents and other intellectual property are among the topics still being worked out, officials said.
New Zealand Trade Minister Tim Groser said an agreement by the end of the year is “doable” and would be the first time in decades that multiple countries have signed up to an agreement that aims to completely eliminate tariffs.
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