외교부

<The Korea Herald   6.2일자 >

APEC aims to promote regional prosperity

 The utmost priority of this year's meeting of Asia-Pacific Economic Cooperation trade ministers is to pursue regional prosperity, says Korea's trade minister.

In a written interview with The Korea Herald, Minister Kim Hyun-chong stressed that the main agenda of the ministers' meeting is to develop an Asia-Pacific economic bloc that will, in turn, form a vast new market for the world.

"This year's agenda encompasses the challenges and changes that APEC must cope with as a single entity," Kim said.

With the formation of a fresh market, APEC seeks to generate more investment and new jobs to enhance the overall public welfare in the region.

And the successful outcome of the multilateral talks hinges on this year's meeting, the minister explained.

To show their support for the upcoming multilateral talks, trade ministers agreed to reconfirm the Bogor goals that seek to facilitate full trade liberalization by 2020.

Meanwhile, along with the multilateral talks, anti-corruption and anti-terrorism are also topics to be discussed as they are prerequisites for creating a secure and transparent business environment in the region, Kim said.

As host of this year's APEC, Korea will endeavor to accomplish theses tasks and more, he added.

The APEC nations are particularly significant for Korea. Combined, they account for more than 70 percent of the country's trade. In 2003, over two-thirds of the nation's foreign investment came from the APEC region.

"Given this environment, I am certain that engaging in productive trade talks for these countries will benefit the local business sector," the trade expert said.

That all four of Korea's closest and strongest allies-the United States, Japan, Russia and China-are members of APEC is a fact Korea should keep in mind, he adds.

"Their presence preserves the security of the peninsula that we are working so hard to keep," said Kim.

Another area that APEC is concentrating on is cooperation between developed and developing countries.The minister pointed out that despite efforts from respective countries and APEC, regional development is still lopsided to at times cause friction between members.

To help even out the imbalance, this year, the organization laid more emphasis on cultural exchange and information-sharing. Collaboration on economic and technological issues was also a main topic.

"Our country will provide members with a wide command of knowledge and technology in the IT and education sectors," Kim affirmed.

For Korea, bilateral talks are another important area.

"Bilateral talks provide a better chance of achieving our trade goals," said Kim.

Securing cleaner and globally-approved sources of energy is one of those goals, as the country is heavily dependent on imports.

"Cementing strong ties with oil-producing nations is a plus Korea can aim for through the bilateral talks," the minister forecast.

High-flying oil prices have added to the burden of the sliding U.S. currency for local exporters.

Companies also are busy preparing for the Kyoto Protocol, which calls for Korea to join other developing countries to reduce greenhouse gas beginning in 2013.

The local government, for its part, is seeking to revamp the energy sector to diversify sources and cut costs.

(jemmie@heraldm.com)

The article is based on a written interview with Trade Minister Kim Hyun-chong. - Ed.