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His Majesty Attends Apec Summit
Hanoi -
Attending the Apec Summit in Hanoi yesterday, His Majesty the Sultan
and Yang Di-Pertuan of Brunei Darussalam made several observations on
world issues.
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His Majesty voicing his concerns on
the issues of violence spoke on the threat of terrorism and
nuclear proliferation around the world.
His Majesty also touched on the
need for a peaceful solution to the Middle East situation
including Iraq.
His Majesty made the titah at a
meeting between leaders of the Southeast Asian Apec countries and
the US on the sidelines of the 14th Apec Economic Leaders'
Meeting, RTB reported.
The meeting took place at the
Hanoi International Convention Centre.
On bilateral issues, His Majesty
noted with satisfaction the excellent bilateral relation between
the two sides in areas such as education and defence.
His Majesty also touched on areas
where experts from both sides can work |
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together such as in the area of
energy, particularly in resources management and the need to look
for alternative sources of energy.
At the meeting, His Majesty,
other Asean leaders and US President George W Bush exchanged views
on international and regional political, security and economic
issues of common interest including Apec, WTO, energy security and
non-traditional security challenges such as disaster management,
infectious diseases, terrorism and transactional crime.
The leaders shared the view that
to effectively address those issues would require active
coordination and close cooperation among countries through
concrete programmes and activities.
The Asean leaders welcomed the
announcement that the US would provide countries in the region
with practical assistance, especially in information and
experience sharing in order to effectively address those
challenges.
The leaders were of the view that
in recent years significant developments had been recorded in the
relations between the countries in the region and the US, at both
bilateral and multilateral levels.
In the future, priority would be
given to promoting economic and trade cooperation, creating
stronger economic linkages and encouraging greater involvement of
the private sector and businesses between the two sides.
His Majesty proceeded to a hotel
in Hanoi to attend a meeting of the Trans-pacific Strategic
Economic Partnerships P4 with the President of Chile, Prime
Minister of New Zealand and Prime Minister of Singapore.
During yesterday morning's
meeting, the four leaders discussed recent developments on P4
Agreement, informally known as the P4 FTA.
His Majesty and other leaders
also welcomed the entry into force of the P4 FTA for all the
parties and instructed officials to commence negotiations for the
outstanding investment and financial services chapters of the
agreement. Noting that P4 FTA was designed to have an open
architecture, allowing for the accession of new members, the
leaders reiterated their vision of the P4 FTA serving as a
building block for trade liberalisation across the Asia Pacific
region. The leaders also noted that the P4 FTA could serve as a
stepping stone in the effort towards regional economic
integration. |
The P4 FTA was originally known as
the P3 FTA when it was first launched by Chile, New Zealand and
Singapore in Mexico in 2002. The agreement was renamed with Brunei's
subsequent participation. The P4 is a multinational free trade
agreement between the four countries.
Yesterday afternoon, His Majesty
joined 20 other Asia Pacific leaders in the first retreat session of
the 14th Apec Economic Leaders' Meeting (AELM).
In his titah at the summit, His
Majesty noted that the forum like Apec was very important because it
provided dynamism and offered confidence specially to the business
community.
In this connection, His Majesty said
that Brunei supported the regional and International Trading
Arrangement such as the WTO, as long as there were comprehensive and
supported the multilateral trading system. It was the same reason that
Brunei supported the resumption of the Doha round, which offers so
much potential for economies, big or small.
His Majesty said that the dynamism
brought about in APEC could bring real economic benefit that would
contribute to the sustainable development of the Apec economies.
The retreat took place at the
National Convention Centre. Upon arrival, His Majesty was greeted by
the President of Vietnam, Nguyen Minh Tiet, as the chairman of Apec
2006.
During the meeting, His Majesty and
the other Apec Economic leaders discussed two major issues - boosting
trade and investment, as well as factors ensuring dynamism, growth and
sustainable development among the Apec members. They are aimed at
strengthening coordination in action; consolidate multilateral trading
system; and promote trade, investment, economic, technical and human
security cooperation. They will also enhance the association between,
Apec and other economic forums in the region and the world.
One of the major outcomes anticipated
during the two-day Apec leaders' meeting will be the Hanoi Action
Plan. The plan is made up of concrete actions that include support for
the multilateral trading system, the promotion of high-quality free
trade agreements and capacity building.
The effort to revive the Doha round
of trade negotiations is also high on the agenda. The Apec leaders
will meet again this morning in the second retreat session. --
Courtesy of Borneo Bulletin
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