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APEC to fight protectionism

APEC to fight protectionism article image
Countries of the Asia-Pacific Economic Cooperation (APEC) have announce they will fight protectionist measures and commit to completing the Doha round of trade negotiations in 2010, following their meeting in Singapore yesterday. Some criticised the USA for its 'Buy American' campaign, which Thai Commerce Minister Pornthiva Nakasai said would adversely affect exports from the 21-member group. Other countries also had 'buy local' campaigns. Australia and Indonesia were most instrumental in raising the protectionism issue, with support from export-dependent nations Thailand and Taiwan. "We are saying 'please don't impose any more protectionist measures', as they have been hurting our exports," said Pornthiva. Australian Minister for Trade Simon Crean has supported the Doha round as instrumental to combating protectionism. World Trade Organisation head Pascal Lamy says the Doha deal could be worth an extra $130 billion to the world economy.

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