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``WTO New Round to Be Launched within This Year``

Posted October. 22, 2001 08:32,   


Leaders of the Asia-Pacific Economic Cooperation (APEC) including President Kim Dae-Jung held summit talks twice in Shanghai, and adopted a declaration on the strengthening cooperation among member countries and on the support of the early launch of the World Trade Organization (WTO)`s new round.

The summit talks also condemned the terrorist attacks as crime against humanity, and adopted a separate statement on counter-terrorism calling for the early signing and the ratification of counter-terrorism treaty, such as a treaty that restrains the funds for the international terrorism.

The leaders agreed to take proper measures to stimulate the economic growth saying that ``world`s major countries are experiencing much more serious slow-down of the economic growth than anticipated.`` In relation to this, the leaders agreed to launch the WTO`s new round within this year, while liberalizing regional trade by 2010 for advanced nations and 2020 for developing countries.

In the `Shanghai Accord`, the leaders vowed to seek the reduction of trade transaction costs by 5 percent over the next five years. In the `e-APEC strategy`, the leaders decided to push forward with the legislation of the electronic trade law, electronic authentication as well as singing, and the protection measure for personal information.

The leaders decided to work out measures, such as prevention of flow of funds to terrorist organizations and computerization of customs and immigration bureau.

In the summit talk, President Kim insisted that not only the flow of funds to the terrorist organizations should be cut off but also support for war supplies should be prevented. President Kim also proposed for the performing of the reform of the economic structure and the measures to stimulate the domestic demands at the same time, the effort to liberalize trade investment, and the expansion of investment on the next generation growing business.

President Kim`s proposal for holding the meetings for the issue of electronic government and the development of social security network in Seoul next year was adopted in the APEC ministerial joint declaration.

Prior to this, President Kim held a South Korea-Japan summit talk with the Japanese Prime Minister Koizumi Junichiro in the Intercontinental Hotel on Saturday, and agreed on the prompt resolution of 7 pending issues such as saury dispute, exemption of visa during the entry to Japan, and the history textbook issues.

Head presidential secretary Oh Hong-Keun, who attended the meeting, said that Prime Minister Koizumi expressed his intention to visit South Korea again this year.

Yun Seung-Mo ysmo@donga.com