Summary of the 2000 Ministerial Meetings Bureau of East Asian and Pacific Affairs Washington, DC February 28, 2001

APEC held seven ministerial-level meetings in 2000. A summary of the results of the ministerial meetings follows.

Education Ministerial

In April 2000, Singapore hosted the second APEC Education Ministerial on topics of "Education for Learning Societies in the 21st Century." The APEC Education Ministers identified four strategic areas of focus in transforming their education systems to meet the challenges of the 21st century. They charged the APEC Education Network (EDNET) with examining activities in the following areas:

• Improving the use of information technology for teaching and learning;

• Enhancing the quality of teaching and teacher development;

• Ensuring quality management systems to provide accessible, affordable and high quality education for all; and

• Promoting cooperation and exchange to enrich and improve education.

Energy Ministerial

Energy Secretary Bill Richardson hosted the Fourth APEC Energy Ministers meeting in San Diego May 12. Ministers endorsed an implementation strategy in response to the APEC Leaders' mandate to focus on implementation and practical results for their initiatives. The strategy features visits by teams of officials, private sector experts and others to provide advice in the areas of natural gas and independent power production -- and a system of self-reporting on a voluntary basis by member economies that measures progress in implementation. Ministers also took up increased demand and dependence on oil supplies. Energy security is of even greater concern to some APEC economies in recent months. Ministers agreed to a joint statement on clean energy and sustainable development.

Telecommunications Ministerial

The fourth meeting of Telecommunications Ministers took place May 24-26 in Cancun, Mexico. Ministers reviewed the broad range of APEC technical and policy activities in the telecommunications area. Ministers adopted statements on principles of interconnection, issues for consideration in electronic authentication, and principles for international charging arrangements for internet services. They also adopted a Program of Action that directs the Telecommunications Working Group to address access issues, including the digital divide, infrastructure development, and charging arrangements for internet services; to promote life-long learning and training; and to address issues of liberalization, information sharing on electronic commerce, and policy and regulatory challenges such as convergence and the implementation of the WTO Agreement on Basic Telecommunications.

Trade Ministerial

The APEC Trade Ministers met in Darwin, Australia, June 6-7. Ministers reaffirmed their commitment to launch a new round of trade negotiations in the WTO. To increase momentum for the new round, Ministers agreed to:

• Develop a strategic plan to build capacity to implement WTO agreements. Tailor-made packages of technical assistance will be developed for developing APEC economies;

• Support preparatory work on industrial tariffs in the WTO;

• An APEC-wide moratorium on the imposition of customs duties on electronic transmissions until the next WTO Ministerial Conference; and

• Seminars on investment and competition policies to aid mutual understanding and share experiences.

Ministers reviewed efforts to improve the environment for doing business in the region and launched a new publication, APEC: Getting Results for Business and a new website BizApec.com.

Ministers discussed regional trade agreements, agreeing that RTAs should be consistent with the WTO and in line with the "APEC architecture."

Ministers also discussed APEC's extensive work on trade and development, trade and investment liberalization, and economic and technical cooperation. They instructed their senior officials to undertake numerous specific activities in these areas.

Small- and Medium-Sized Enterprise (SME) Ministerial

The APEC Small- and Medium-sized Enterprise (SME) Ministerial was held June 22-23 in Brunei. The U.S. delegation was headed by the Assistant Secretary of Commerce for Trade Development and included U.S. Government officials as well as six American business representatives. The private sector delegates participated in a separate series of events held concurrently with the ministerial, including the Women Leaders' Network Meeting, E-Commerce Workshop, and Young Entrepreneurs Town Hall Session. Ministers also held very useful and constructive sessions with the business representatives.

SME Ministers reaffirmed their commitment for greater involvement by the private sector in developing SME projects and policy proposals. They also discussed thematic issues of capacity-building via human resources development, capitalizing on electronic commerce, making financial markets more accessible and improving SME operational efficiency and effectiveness through strategic partnerships.

Ministers endorsed several new projects for SMEs and underscored the importance of achieving substantial outcomes. They also affirmed the importance of meeting the capacity building needs of SMEs. In view of the rapidly changing business environment as a result of economic globalization and information and communication technology developments, Ministers urged SMEs to embrace innovative and creative approaches to enhance efficiency and competitiveness.

Tourism Ministerial

The first APEC Tourism Ministerial meeting was held in Seoul July 6-7. Ministers adopted the Seoul Declaration on an APEC Tourism Charter. The Charter aims to improve the economic, cultural, social, and environmental well-being of APEC economies through the tourism industry. The Charter encompasses four policy goals:

• Remove impediments to tourism business and investment;

• Increase mobility of visitors and the demand for tourism goods and services;

• Sustainably manage tourism outcomes and impacts; and

• Enhance recognition and understanding of tourism as a vehicle for economic and social development.

Tourism Ministers endorsed two activities to promote the tourism sector: establishment of a Tourism Information Network and a Tourism Satellite account. APEC tourism officials will implement these initiatives this year.

Finance Ministerial

The 7th APEC Finance Ministers meeting took place September 9-10 in Brunei. Ministers welcomed the significant improvements in growth prospects for APEC economies but warned against complacency, resolving to continue the pursuit of sound macroeconomic policies and structural reforms to sustain growth. Ministers discussed the risks of oil price volatility to world economic recovery and called for appropriate increases in supplies to promote long-term price stability. Ministers reaffirmed the importance of free and open trade and investment. Noting the progress made over the past year in strengthening the international financial architecture, Ministers welcomed the work of the G-20. They supported the key standards identified by the Financial Stability Forum, encouraging APEC economies to implement them and to participate in IMF/World Bank programs assessing financial sectors and observance of standards and codes.

Finance Ministers reviewed APEC's ongoing work program, 12 initiatives to promote free and stable capital flows, the strengthening of financial systems, improving corporate governance, and strengthening social safety nets. Ministers endorsed continued work in these areas and approved the following new initiatives:

• An APEC Working Group to survey the adequacy of domestic legal and regulatory frameworks for fighting financial crimes;

• A study of APEC economies' experiences in managing bank failures to develop recommendations based on lessons learned from selected case studies;

• A 2-year renewal of the Financial Regulators Training Program for bank supervisors and securities regulators, including a new project for insurance regulators;

• A policy dialogue to assist APEC economies in implementation of key international standards;

• A task Force on Company Accounting and Financial Reporting to promote high quality, internationally acceptable standards and practices; and

• An APEC Working Group to examine issues related to electronic financial transactions.

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