The Asia-Pacific Economic Cooperation (APEC) said Thursday it is working on measures to ensure that member economies can uniformly embrace controls on traded goods whose misuse could pose a security risk to the region.
The goal, as with other such trade-control regimes worldwide, is to uphold legitimate business between importers and exporters, APEC said.
Trade officials, enforcement bodies and private sector experts examined regulation and administrative procedures among APEC members in a two-day workshop in Kuala Lumpur this week.
“The production of goods such as information and communications technology, industrial chemicals, and marine, avionics and aerospace components is a major source of growth and job creation in the APEC region but must be properly regulated to ensure that they are traded for legitimate commercial purposes only,” said Muthafa Yusof, Malaysia’s strategic trade Controller.
“There is still considerable unevenness when it comes to development and application of strategic trade-management regimes. Ensuring that safeguards are coherent and effective across economies is vital to reducing disruptions to trade, whether they are a terrorist attack or administrative bottlenecks, which could inflict great costs to businesses that depend on efficient regional supply chains.”
APEC economies considered private sector input for optimizing this process. The World Customs Organization’s Strategic Trade Control Enforcement Program, meanwhile, described ways it can work with APEC economies to improve border control effectiveness and compliance. Other participants at the workshop included the European Union Federal Office of Economics and Export Control which offered insights into the development of control lists for dual-use goods.