TRADE ministers from the 21 member- economies of the Asia-Pacific Economic Cooperation (Apec) have agreed to step up measures in addressing food crisis through improvements in market access and substantial reduction in price distortions and increase in agriculture productivity.

Foreign Undersecretary for International Economic Relations Edsel Custodio said the issue on food crisis has dominated discussions in the concluded meetings of Apec Ministers Responsible for Trade and second Apec Senior Officials Meeting held in Arequipa, Peru, early this month. He said the Apec high officials have agreed that “since there is very little chance now that the Doha negotiations [in the World Trade Organizations] will find its conclusions, it is going to be on Apec where agriculture reforms and opening up of markets will be initiated.”

Food crisis, along with the proposed Apec-wide free-trade agreement, trade and investment liberalization and facilitation, common fight against terrorism and smuggling, will be the key discussions in the Apec Leaders’ Summit to be held in Lima, Peru, late this year.

Custodio said the Apec officials have also agreed to revisit the 1996 Apec food study conducted by Australia that “was never been used for Apec programs.”

In a copy of the statement of the chairman of the Apec Ministers Responsible for Trade, the economies noted that the price increases of important commodities like wheat, rice and maize are having deep damaging effect on the poorest families in the region.

It added that the price escalation “has increased the urgency to achieve improvements in market access and substantial reductions in market distorting measures in global agricultural trade,” saying the rapid completion of the WTO Doha round is important in overcoming serious international situation. “We agreed that increasing the productivity of agriculture worldwide is critical to global welfare, particularly of developing economies and to ensuring long term and adequate world food supplies,” said the statement of the chairman of Apec trade leaders, a copy of which was obtained by the BusinessMirror.

The trade leaders also agreed to support investments on agricultural technologies and cooperation to increase agricultural productivity. “We also agreed on the importance of increased support to food-aid programs and to ensure that they are managed in a way that does not distort markets.” 

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Trade officials from Apec agree on measures to address food crisis

TRADE ministers from the 21 member- economies of the Asia-Pacific Economic Cooperation (Apec) have agreed to step up measures in addressing food crisis through improvements in market access and substantial reduction in price distortions and increase in agriculture productivity.

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