Fact Sheet: Asia-Pacific Economic Cooperation (APEC) 2006

Asia-Pacific Economic Cooperation (APEC) 2006

"America has helped contribute to the modern and confident Asia we see today – a region where people's incomes and opportunities are rising, where businesses compete in a global economy, and where citizens know that a world growing in trade is a world expanding in opportunity. In this new century, America will remain engaged in Asia, because our interests depend on the expansion of freedom and opportunity in this region."

- President George W. Bush, Remarks At National University of Singapore, 11/16/06

At The 14th Asia-Pacific Economic Cooperation (APEC) Leaders' Meeting In Hanoi, Vietnam, President Bush Presented A Vision Of APEC As An Organization That Can:

• Create opportunities for sustainable growth through trade liberalization;
• Prevent threats to sustainable growth by securing travel, transport, and trade, by fighting against terrorism, and by preventing pandemic disease; and
• Build societies for sustainable growth by stemming corruption and promoting good governance.

The Leaders Of APEC's 21 Member Economies Embraced The President's Vision And Took Important Steps To Realize It.

President Bush and the other APEC leaders:

• Issued a challenge to their counterparts within and outside of APEC to secure a breakthrough in the Doha Round of World Trade Organization negotiations and conclude an ambitious agreement;
• Decided to explore a trans-Pacific, region-wide Free Trade Area of the Asia-Pacific as a long-term goal;
• Took steps to improve the quality and consistency of the free trade agreements already being negotiated in the Asia-Pacific region;
• Confirmed their determination to defeat terrorism, halt the proliferation of weapons of mass destruction (WMD), promote energy security and clean energy technology, fight corruption and foster good governance; and
• Expressed strong concern for North Korea's October 9 nuclear test, stressed the need for UN Member States to comply with UN Security Council Resolution 1718, which calls for sanctions against North Korea, and called for North Korea to return to the Six Party Talks ready to carry out the denuclearization pledges made in the September 2005 Joint Statement.

Results Of The 2006 APEC Leaders' Meeting

Advancing Global Trade Negotiations: President Bush and the APEC leaders reaffirmed their commitment to achieving an ambitious Doha Round result and signaled their intention to be personally engaged in securing a breakthrough in the talks. APEC Leaders sent the message that they are all ready to move beyond current positions to break the deadlock and urged leaders from other regions to be similarly bold and match the APEC leaders' commitments.

Launching The Vision Of A Trans-Pacific Free Trade Area: President Bush called for a bold strategy for trans-Pacific trade liberalization at APEC this year. The other APEC leaders responded with characteristic courage, and they charged officials with exploring possible ways to achieve a region-wide Free Trade Area of the Asia-Pacific. The officials will report back to the leaders at their Sydney meeting in September 2007.

Improving The Quality Of Free Trade Arrangements: Following President Bush's lead, the APEC leaders agreed on key elements for six model free trade agreement (FTA) chapters, in order to promote high standards for FTAs in the region.

Facilitating Trade: The APEC leaders declared success in meeting their target of reducing trade transaction costs in the region by 5 percent between 2001 and 2006 and agreed to a framework for achieving another 5 percent reduction by 2010.

Protecting Intellectual Property Rights: President Bush and the APEC leaders endorsed two new Model Guidelines under the APEC Anti-Counterfeiting and Piracy Initiative. The Model Guidelines will help APEC economies secure supply chains against counterfeit and pirated goods and inform citizens about the importance of Intellectual Property Rights protection and enforcement. The leaders also embraced the principle that government offices must block copyright infringement on their computer networks, including over the Internet.

Countering Threats And Enhancing Security In The Asia-Pacific Region: President Bush and APEC leaders stated their strong opposition to trafficking in weapons of mass destruction and highlighted the need to prevent proliferators from abusing legitimate financial systems. President Bush took the lead in encouraging all members to extend the mandate of APEC's Counter-Terrorism Task Force, implement the APEC Framework for Secure Trade, commit to undertaking Man Portable Air Defense Systems (MANPADS) Vulnerability Assessments at international airports, and join the United States, Australia and New Zealand in a Regional Movement Alert System, which detects the use of lost and stolen passports. The APEC leaders welcomed new U.S.-led APEC initiatives to improve aviation security controls and to protect our food supply systems from deliberate contamination.

Improving Health Preparedness: President Bush and the other APEC leaders fully endorsed APEC's Action Plan on the Prevention and Response to Avian and Influenza Pandemics. They committed themselves to timely and complete reporting of both human and avian influenza cases and expressed support for the International Partnership on Avian and Pandemic Influenza.

Promoting Good Governance And Fighting Corruption: President Bush is leading APEC in stemming corruption in the Asia-Pacific region. APEC leaders agreed to implement the principles of the UN Convention Against Corruption on a priority basis. President Bush and the other leaders also highlighted the significant impact that public-private partnerships can have in achieving more transparent and more honest forms of governance, strengthening market integrity, and ensuring that all communities have the opportunity to share the benefits generated by trade liberalization and economic growth.

Tackling Energy Supply And Environmental Challenges: President Bush and the APEC leaders discussed the challenges posed by sustained high oil prices, noting that effective responses require a range of supply and demand side measures. The leaders welcomed the work of the APEC Biofuels Task Force and pledged to strengthen their joint efforts to develop and make use of clean energy technologies.

Promoting Regional Business Travel: President Bush announced that the United States will recognize the APEC Business Travel Card, which will allow card holders to receive expedited processing in immigration lines at U.S. international airports.

Making APEC Stronger: President Bush and the other leaders welcomed plans for the strengthening of the APEC Secretariat and the streamlining of APEC operations. In recognition of APEC's role as the premier economic forum in the Asia-Pacific, President Bush announced that the United States would commit to doubling our support of APEC activities to roughly $5 million per year, starting in 2007.