The ministers from the 21-member Asia-Pacific Economic Cooperation (APEC) forum began talks in Yokohama, south of Tokyo, on creating a vast free trade area to link the world’s three biggest economies — the United States, China and Japan — and some of its fastest-growing emerging markets.
“Many members endorsed the idea of not implementing any additional protectionist steps until 2013,” Japanese Foreign Minister Seiji Maehara said.
APEC leaders in 2008 vowed to resist protectionism in their “standstill” agreement lasting until 2011.
The latest plan is to extend this pledge to 2013.
Asked whether the ministers raised the issue of China’s curbs on its exports of rare earths, used in range of high-tech devices, Maehara said there had not been discussions on specific countries or trade items.
Production of rare earths is dominated by China, which has said it will keep strict controls on their trade despite pressure from the United States and Japan to loosen export constraints.
Many ministers also expressed a need to conclude the WTO’s long-running Doha Round of trade negotiations next year before many countries become distracted by elections in 2012, Japanese officials said.
“I proposed that the World Trade Organization (WTO), which has been focusing on dealing with import restrictions, should focus more on export restrictions as the (world) population is growing, causing shortages of natural resources and food,” Maehara said.
“And I hope we can discuss this issue at the WTO as well as at APEC,” he added.
