Gist of the Seoul Declaration
Objectives
- To sustain the growth and development of the region and, in this way, contribute to the growth and development of the world economy.
- To enhance the positive gains resulting from increasing economic interdependence.
- To develop and strengthen the open multilateral trading system.
- To reduce barriers to trade in goods and services and investment.
Mode of Operation
- The principle of mutual benefit, taking into account the differences in the stages of economic development and in the sociopolitical systems and giving due consideration to the needs of developing economies.
- A commitment to open dialogue and consensus building, with equal respect for the views of all participants.
Participation
- Participation to be open, in principle, to Asia-Pacific economies that have strong economic linkages in the region and accept the objectives and principles of APEC.
- Decisions on future participation to be made on the basis of a consensus of all existing participants. (Acceptance of new participants is currently frozen for a three-year period that started in 1994.)
Source : APEC ALMANAC '95 published by Foreign Press Center
Back to Index
