*EPF102 11/13/00
U.S. Will Focus on WTO, New Economy, Social Well-being at APEC
(Creation of regional oil stockpile possible, official says) (450)
By Nadine Leavitt Siak
Washington File Staff Writer

Bandar Seri Begawan -- U.S. participation in the Asia-Pacific Economic Cooperation (APEC) meetings in Brunei this week will involve both old and new initiatives, according to a senior U.S. official.

At a background briefing November 11 in Brunei, the official, who spoke on condition of not being identified, told reporters that the four major issues the United States is focusing on this year are: arranging for another World Trade Organization (WTO) round; expanding participation in the "New Economy" engendered by advances in information technology; advancing social well-being; and dealing with rising oil prices.

The official said the United States is "very strongly committed to doing whatever we can do to help" build a consensus for launching another round of WTO negotiations to promote freer global trade and investment.

The official said the United States also wants to work on actions that would allow more people to enjoy the increased productivity and economic growth that comes from engaging in "New Economy" activities such as e-commerce.

"The New Economy will be front and center [at APEC]," the official said, with the United States working towards the formation of policy- and capacity-building initiatives that can prepare less-developed economies to better utilize information technology.

Although APEC is commonly identified with trade issues, the official noted that the organization has long made room on its agenda to tackle issues of concern to environmentalists and promoters of social development.

"Things like education, health, workers' safety, conservation ... are all areas where APEC has actually been quite active," the official said, but the organization's work in these areas has not received a great deal of attention.

The official added that he knew that President Clinton was particularly interested in APEC programs focused on developing social well-being.

The official said APEC leaders would also be working on concrete measures to lessen the vulnerability of the region's economies to havoc caused by volatile oil prices. One measure being discussed for the first time, said the official, is the possible creation of a regional oil stockpile.

The APEC Leaders' Meeting is scheduled for November 15-16 in Brunei, with a Joint Ministerial Meeting for trade and foreign ministers on November 12-13.

APEC is composed of: Australia, Brunei, Canada, Chile, China, Hong Kong, Indonesia, Japan, South Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, Taiwan, Thailand, the United States and Vietnam.

(The Washington File is a product of the Office of International Information Programs, U.S. Department of State. Web site: http://usinfo.state.gov)
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