Business leaders worried about global trade talks, bird flu

BUSAN, South Korea – Fears that the current global trade round could collapse and the potential for a bird flu crisis that could sicken millions of workers are major concerns of business leaders participating in a Pacific Rim economic summit.

The Asia Pacific Economic Cooperation forum’s Business Advisory Council kicked off a three-day meeting in this southern port city yesterday, with participants urging the 21 member governments to use their collective clout to try to end a deadlock in World Trade Organisation negotiations. Hopes of advancing the WTO’s trade liberalisation’s goals at a ministerial meeting next month in Hong Kong have plummeted because of disputes over agriculture and other issues, which recent talks in Europe have failed to resolve.”We believe the outlook is very bad,” said Roberto Romulo, chairman of the Philam Insurance Co., also a senior adviser to Philippine President Gloria Macapagal Arroyo, told reporters on the sidelines of the business gathering.”We’re asking the (APEC) ministers to take a very strong position” to make sure the talks succeed, he said.APEC’s foreign and trade ministers were scheduled to begin a two-day meeting today ahead of a summit by the group’s leaders, including US President George W.Bush and Chinese President Hu Jintao, on Friday and Saturday.ABAC will have a chance to directly appeal to leaders at a meeting during the summit.”I think agriculture is the stumbling block and we have to continue to work at it,” said Romulo, the business lobby’s founding chairman and a former Philippines foreign secretary.APEC officials are worried the WTO talks could collapse if progress is not made in Hong Kong.They were working Monday on a statement in support of the WTO round that leaders are expected to adopt.”We urge APEC leaders to exert their collective will in ways that cannot be denied,” ABAC says in a letter it will present to South Korean President Roh Moo-hyun this week.APEC has as its main aim achieving free trade among all its members by 2020.It includes seven of the world’s 13 largest economies, represents about 60 per cent of the global economy and nearly half of world trade.Romulo said a potential flu pandemic this year or next is the other major concern for business leaders.”We appreciate what the government’s are doing and we know the leaders will discuss the avian flu,” he said.APEC’s senior officials agreed over the weekend on various steps for fighting bird flu, including cooperating to develop a vaccine and sharing information.Experts fear the H5N1 strain of the bird flu virus could mutate into a version easily passed between humans, sparking a pandemic that could kill millions.At least 64 people have died in Asia from the virus after coming into contact with sick birds, and millions of birds have died or been culled.Romulo added that ABAC would be holding a series of meetings to “make sure that businesses have contingency plans” to deal with a flu outbreak.”Each business has to do it now,” he said.-Nampa-APHopes of advancing the WTO’s trade liberalisation’s goals at a ministerial meeting next month in Hong Kong have plummeted because of disputes over agriculture and other issues, which recent talks in Europe have failed to resolve.”We believe the outlook is very bad,” said Roberto Romulo, chairman of the Philam Insurance Co., also a senior adviser to Philippine President Gloria Macapagal Arroyo, told reporters on the sidelines of the business gathering.”We’re asking the (APEC) ministers to take a very strong position” to make sure the talks succeed, he said.APEC’s foreign and trade ministers were scheduled to begin a two-day meeting today ahead of a summit by the group’s leaders, including US President George W.Bush and Chinese President Hu Jintao, on Friday and Saturday.ABAC will have a chance to directly appeal to leaders at a meeting during the summit.”I think agriculture is the stumbling block and we have to continue to work at it,” said Romulo, the business lobby’s founding chairman and a former Philippines foreign secretary.APEC officials are worried the WTO talks could collapse if progress is not made in Hong Kong.They were working Monday on a statement in support of the WTO round that leaders are expected to adopt.”We urge APEC leaders to exert their collective will in ways that cannot be denied,” ABAC says in a letter it will present to South Korean President Roh Moo-hyun this week.APEC has as its main aim achieving free trade among all its members by 2020.It includes seven of the world’s 13 largest economies, represents about 60 per cent of the global economy and nearly half of world trade.Romulo said a potential flu pandemic this year or next is the other major concern for business leaders.”We appreciate what the government’s are doing and we know the leaders will discuss the avian flu,” he said.APEC’s senior officials agreed over the weekend on various steps for fighting bird flu, including cooperating to develop a vaccine and sharing information.Experts fear the H5N1 strain of the bird flu virus could mutate into a version easily passed between humans, sparking a pandemic that could kill millions.At least 64 people have died in Asia from the virus after coming into contact with sick birds, and millions of birds have died or been culled.Romulo added that ABAC would be holding a series of meetings to “make sure that businesses have contingency plans” to deal with a flu outbreak.”Each business has to do it now,” he said.-Nampa-AP