Associated Press | 2010-11-08
APEC debates becoming body that can forge FTA
By MARI YAMAGUCHI
Japanese officials say Pacific Rim economies are debating whether to change the informal Asia-Pacific Economic Cooperation forum so that it can negotiate the creation of a Pacific-wide free trade zone.
The potentially major change for the 21-member APEC, formed in 1989 as non-binding forum, would allow the economies to forge a Free Trade Area of the Asia-Pacific, or FTAAP, a proposal floated at this year’s meetings.
But the idea faces resistance from some member economies that want to strike free trade deals independently, the government officials, who requested anonymity because of ministry rules, said Monday.