Resolution on Promoting Economic Growth and Free Trade

APPF26-RES-02-Promoting-Economic-Growth-Free-Trade

26th Annual Meeting of the Asia-Pacific Parliamentary Forum
18-21 January 2018

Resolution on Promoting Economic Growth and Free Trade

APPF26/RES/02

(Sponsored by Republic of Korea, Japan, Russia)

The 26th Annual Meeting of the Asia-Pacific Parliamentary Forum (APPF):

Highly appreciating the achievements of the 25-year work of the Asia-Pacific Parliamentary Forum established in 1993 in Tokyo in a wide range of areas, including politics and security, trade and economy, culture and contacts between parliamentarians of the Asia-Pacific countries that contributed to strengthening and promotion of the relations among the parliaments of the region;

Noting the “Resolution on Economic and Trade Cooperation in the Asia-Pacific Region (APPF25/RES.15),” which was adopted in the 25thAnnual Meeting of the APPF held in Nadi, Fiji in January, 2017, and the Da Nang Declaration, which was adopted in the 25thAPEC Economic Leaders’ Summit in November, 2017;

Recognizing that innovation in digital technology in the era of the 4th Industrial Revolution creates new growth engines and employment opportunities, but presents grave challenges at the same time;

Recognizing that the benefits of regional economic integration and free trade are not equally distributed in our societies and reaffirming that our top priority is to make growth more inclusive by creating jobs and fostering a fair economy;

Recognizing that the ultimate end of economic development must be the improved well-being of all people and the need to promote sustainable development and overcome problems such as poverty, exclusion, social inequality, food security and environmental pollution,

Realizing that free trade agreements of the APPF member states, including but not limited to the ultimate realization of the Free Trade Area of the Asia-Pacific (FTAAP) contribute to common prosperity and sustainable growth in the region by helping to overcome development gaps as well as issues associated with socio-cultural diversity between and among the Member States;

Understanding that the unilateral economic compulsion measures may have a destabilizing impact on the socio-economic development of APPF member states;

Welcoming the entry into force of the Trade Facilitation Agreement (TFA) in February this year, which was designed to complement the multilateral trading system of the WTO, and reiterating the need for parliamentarians of the Member States to play an active role in promoting the full implementation of the agreement.


RESOLVES TO:

  1. Continue strengthening the dialogue partnership based on the principles of equality, mutual benefits and shared responsibility for promoting prosperity, economic growth, sustainable development and social progress in the Asia-Pacific Region for advancement toward strategic partnership;
  2. Promote searching of most efficient schemes for regional economic integration and measures for overcoming challenges of the modern development stage that unlock opportunities for further development of the regional cooperation in the furtherance of balanced growth;
  3. Study the possibility to develop various integration drivers such as transport, energy and digital and telecommunication infrastructure, science and technology as a basis for further integration;
  4. Urge the Parliaments of the APPF Member States, to the extent of their legislative powers, to carry out an ongoing assessment of international trade instruments with a view to promote equality of opportunities within and between Member States;
  5. Call upon the APPF Member States to continue to implement effective fiscal and financial policies in order to respond to downside risks and ensure the stability of economies and employment;
  6. Call upon the Member States to step up efforts toward economic prosperity in the region by embracing open and inclusive trade and facilitating the free movement of products and services, as well as establishing standards, rules and guidelines;
  7. Call upon the Member States to strengthen their capacity to engage in negotiations for comprehensive FTAs and develop a mechanism for sharing relevant information for the ultimate realization of FTAAP, a mid- to long-term objective to achieve the Bogor Goals, which declared a complete regional economic integration;
  8. Call upon the Member States to implement the “APEC Action Agenda on Advancing Economic, Financial and Social Inclusion”, which was endorsed at the 25th APEC Economic Leaders’ Summit in 2017, to build an Asia-Pacific community which shares the benefits of free trade in a more inclusive, accessible and sustainable manner;
  9. Urge the Member States to actively explore policy measures to build an innovation ecosystem through a favorable regulatory framework for strengthening the competitiveness of micro, small and medium enterprises (MSMEs)in the digital era as well as to expand the scope of assistance for MSMEs to facilitate their participation in global value chains (GVCs);
  10. Call upon the Member States to devise ways to increase the usage of e-trade platforms for online transactions such as e-commerce and digital trade in order to unleash the potential of the digital economy in the region in the era of the 4th Industrial Revolution;
  11. Recommend the Member States to promote mutual cooperation in discussing and implementing measures to facilitate an inclusive, innovative and sustainable people-centered growth;
  12. Promote the development of the cooperation in resources such as the oil and gas sector.


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Resolution on Promoting Economic Growth and Free Trade

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