"We usually follow the steps of big countries, but we can learn a lot to develop our country and improve our social life," he said, adding that he hoped Brunei could boost its exchanges and cooperation with other countries through the ASEP and ASEM platforms, especially in economic areas.
Advancing the Doha Round of the World Trade Organization (WTO) negotiations and facilitating trade and investment between the two continents were two of the meeting's top issues. In the declaration, ASEP parliamentarians iterated the decision to establish an open, rules-based and multilateral trading system under the WTO to foster a global trade balance and worldwide economic growth and financial stability. The participants believe that "such a system will be the most effective in regulating and expanding trade relations among ASEM partners," the declaration said.
Participants worried that the current slow progress in multilateral trade negotiations and surging trade protectionism would damage the global trade environment, especially for developing countries. In the declaration, they vowed to ask their governments to reach a "comprehensive, balanced and early conclusion" to the Doha Round before the end of the year, so that all members, and developing countries in particular, would benefit from the realization of the round's development goals.
The Doha Round talks are the first round of multilateral trade negotiations since the founding of the WTO. With the largest number of participants and the widest range of discussion topics, the round has focused on issues that concern more than 95 percent of global trade. The Doha Round was launched at the Fourth WTO Ministerial Conference in November 2001, suspended in July 2006, and reopened in early 2007. The talks are now in the final stage where relevant parties are conducting intense negotiations on documents related to agricultural and non-agricultural matters.
Once the talks reach a successful conclusion, they would boost the confidence of WTO members and enhance their coordination in economic and trade policies, said the Chinese delegation to the ASEP, led by Li Zhaoxing, Chairman of the Foreign Affairs Committee of the NPC. They also would help eliminate trade protectionism and reduce tariffs on agricultural and industrial products on a global scale, promote the facilitation of trade and open up the services sector, the delegation said.
During the five-year transitional period after China entered the WTO in December 2001, its average trade tariffs dropped to 9.8 percent in 2007 from 15.3 percent in the accession year. The openness of China's service sector is close to the level of developed countries, making China one of the most open markets in the world, the Chinese delegation said.
"The talks now stand at a crucial juncture," said the Chinese delegation in a printed statement. The delegation also made three suggestions to advance the WTO talks. First, the negotiations should take into account the legitimate concerns of developing countries, especially the least developed countries. Second, developed countries that play a leading role in the world economy should be more sincere and flexible on such key issues as cutting agricultural subsidies and tariffs. Last, all countries should oppose trade protectionism, remove trade barriers and work for early, comprehensive and balanced results in the Doha Round.
Free trade and cultural diversity
The ASEP declaration said regional trade arrangements and free trade agreements would be useful supplements to the WTO's multilateral trade system. It also said the parliamentarians pledged their support for regional cooperation carried out by ASEP partners in accordance with WTO rules to promote cross-regional economic opening up and integration.
Belgian senator Paul Wille said that free trade was the major focus of the future development of world economy. "When facing global challenges, protectionism is not a solution," he said, adding that the possible resolution of these worldwide problems could only be achieved through cooperation.
Focusing on the diversity of civilizations was another important topic at the ASEP meeting. While globalization has brought both growing opportunities for exchanges and interaction among different cultures, civilizations and regions, it also has produced development imbalances and an uneven distribution of benefits.
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