EIGHTH APEC MINISTERIAL MEETING
MANILA, PHILIPPINES
22-23 NOVEMBER 1996
DECLARATION ON AN ASIA-PACIFIC ECONOMIC COOPERATION
FRAMEWORK FOR STRENGTHENING ECONOMIC COOPERATION AND DEVELOPMENT
We, the Ministers of Australia, Brunei Darussalam, Canada, Chile, the
People's Republic of China, Hong Kong, Indonesia, Japan, the Republic of Korea,
Malaysia, Mexico, New Zealand, Papua New Guinea, the Republic of the
Philippines, Singapore, Chinese Taipei, Thailand, and the United States of
America, meeting in Manila from 22-23 November 1996.
1. Recalling the vision articulated by the Leaders on Blake Island of an Asia
Pacific community built upon the growing interdependence and cooperation in the
region;
2. Heeding the call made by the Leaders in Bogor for APEC to lead the way in
intensifying development cooperation in the region;
3. Building on the essential elements of economic and technical cooperation
contained in the Osaka Action Agenda, as one of the three pillars on which to
deepen the spirit of community in the Asia-Pacific;
4. Acknowledging that economic and technical cooperation and trade and
investment liberalization and facilitation are mutually complementary and
supportive;
5. Recognizing the need for a new framework of economic cooperation and
development which will provide greater focus and coherence in the growing number
of regional programs and activities in the economic and technical cooperation
areas;
6. Conscious of APEC's achievements in the area of economic and technical
cooperation since its foundation;
To this end, Ministers jointly resolve to:
Adopt the following Framework for Strengthening Economic Cooperation and
Development to guide member economies in the implementation of Part II of the
Osaka Action Agenda, entitled Economic and Technical Cooperation.
I. GOALS
We agree that the goals of economic and technical cooperation and development
in APEC are:
to attain sustainable growth and equitable development in the Asia-Pacific
region;
to reduce economic disparities among APEC economies;
to improve the economic and social well-being of the people; and
to deepen the spirit of community in the Asia Pacific.
II. GUIDING PRINCIPLES
1. In line with APEC's fundamental principles, we will pursue economic
cooperation and development in the region on the basis of :
mutual respect and equalityincluding respect for diversity and the
different situations of members, focusing on member economies' strengths;
mutual benefit and assistance, with a firm commitment to making
genuine contributions toward the goals of sustainable growth and equitable
development and reducing disparities in the region, based on the APEC member
economies' diverse and complementary capabilities;
constructive and genuine partnership, creating opportunities for
mutually beneficial exchange between and among industrialized and developing
economies, thus promoting the development and dynamism of the economies in the
region. This will include a working partnership with the private/business
sector, other pertinent institutions, and the community in general, to ensure
that cooperation is consistent with market principles. This partnership will
engender cooperative undertakings toward the efficient allocation of resources
and reduction of economic disparities within an increasingly integrated Asia
Pacific community; and
consensus building, in line with the consultative, consensual
approach nurtured through the development of APEC, while respecting the
autonomy of each economy through their voluntary participation.
2. We emphasize the need to jointly undertake economic and technical
cooperation activities that will promote the full participation of all men and
women in the benefits of economic growth. In pursuing these activities, we shall
be guided by our responsibility in making economic growth consistent with
environmental quality.
III. CHARACTER OF APEC ECONOMIC & TECHNICAL COOPERATION
1. To achieve our goals, we agree that economic and technical cooperation in
APEC must be goal-oriented with explicit objectives, milestones, and performance
criteria.
2. Considering the increasing role of the private/business sectors in APEC,
we encourage them not only to participate but also initiate economic and
technical cooperation activities in line with APEC goals. Thus, economic and
technical activities can combine government actions, private sector projects and
joint public-private activities with the public sector playing a direct or
indirect role in creating and enabling environment for private sector
initiative.
3. To help build a growing sense of community and promote a spirit of
enterprise that leads our people to work with and learn from each other in a
cooperative spirit, economic and technical cooperation activities should draw on
voluntary contributions commensurate with member economies' capabilities and
generate direct and broadly shared benefits among APEC member economies to
reduce economic disparities in the region.
IV. ORGANIZING THEMES AND PRIORITIES
1. To achieve sustainable growth and equitable development, and benefit from
the move towards free and open trade and investment, and to promote the welfare
of economies of the region, we give priority to joint cooperative activities
which :
Develop Human Capital, the region's main asset in economic
development, to broaden the benefits of economic growth, deepen the basis for
sustainable growth, and strengthen social cohesion domestically and
regionally;
Develop Stable, Safe and Efficient Capital Markets to promote
capital flows that generate real economic returns, to mobilise domestic
savings through broad, deep capital and financial markets, as discussed by the
Finance Ministers Meeting and to enhance the environment for private
investment in infrastructure;
Strengthen Economic Infrastructure to eliminate bottlenecks to
economic growth, especially in such areas as telecommunications,
transportation, and energy in order to further integrate members into the
regional economy, and the region into the global economy;
Harness Technologies for the Future to ensure that APEC joint
activities promote the flow and expand the capacities of its members to absorb
existing industrial science and technology as well as develop new technologies
for the future, thus promoting a free flow of information and technology;
Safeguard the Quality of Life Through Environmentally Sound Growth
by promoting sound policies and practices, taking into account concerns about
sustainable development.
Develop and Strengthen the Dynamism of Small and Medium Enterprises
so that they may respond more efficiently and effectively to market
developments in a more open and liberal economic development.
2. We will support new themes that may emerge in the cooperation process that
are consistent with the goals and guiding principles defined in this framework.
3. In consonance with the goals, principles, and themes laid out in this
Declaration, we hereby urge Working Groups and other relevant APEC fora to
coordinate with each other and integrate their work on cross-cutting issues to
achieve focused outcomes and demonstrate breakthroughs in advancing the goals of
APEC in the light of Part II of the Osaka Action Agenda and the themes mentioned
in paragraph 1 of this section.
4. We are confident that, by giving further coherence and direction to our
economic and technical cooperation, we will contribute substantially to the goal
of a prosperous Asia Pacific community as we move towards the 21st century.
