Leaders support new regional food system

Business Asia, Sept 30, 1999

Pacific Rim leaders have agreed to develop a regional food system and strengthen economic and technical cooperation among member economies to make globalisation "become an opportunity for all".

These were among the measures spelled out by APEC leaders in Auckland last month, as they noted the need to narrow the development gap among the poor and affluent economies of APEC.

The establishment of the APEC Food System and reinforcing the eco-tech cooperation aspect of trade liberalisation were among the proposals endorsed during the annual summit.

In the leaders' declaration, entitled the "Auckland Challenge", the APEC heads noted that a "robust regional food system that efficiently links food production, food processing and consumption" is vital in realising APEC's objectives of sustained growth amid a global free economy.

"We welcome the Ministers' report on the APEC Food System proposed by the APEC Business Advisory Council, and endorse its recommendations on the development of rural infrastructure, dissemination of technological advances in food production and processing, and promotion of trade in food products," the declaration said.

The leaders also accepted the proposals by their ministers to establish an initial program aimed at strengthening markets, especially in developing APEC economies.

The declaration also stated that the "financial crisis has underlined the importance of cooperation in human and institutional capacity building, science and technology exchanges and development of infrastructure".

The leaders noted the "improved performance" and the bright prospects for the APEC region following the Asian financial crisis.