Appendix IV - Joint Statement at the Second APEC Ministerial Meeting in Singapore, 29–31 July 1990

Summary

1. Ministers from Australia, Brunei Darussalam, Canada, Indonesia, Japan, Malaysia, New Zealand, the Philippines, Republic of Korea, Singapore, Thailand and the United States met in Singapore on 29–31 July 90 to continue their discussions on the process of Asia–Pacific Economic Cooperation (APEC). The ASEAN Secretariat, the Pacific Economic Cooperation Conference (PECC) and the South Pacific Forum (SPF) were present as observers. A full list of Ministers and Observers attending the Meeting is attached. (Annex A).

2. The Meeting was co-chaired by Mr Wong Kan Seng, Minister for Foreign Affairs and Minister for Community Development and BG (Res) Lee Hsien Loong, Minister for Trade and Industry and Second Minister for Defence (Services).

3. Ministers recalled Prime Minister Lee Kuan Yew's keynote address in which he set forth the tone for the next two days' meetings:

All countries present today have grown faster because of the GATT-IMF multilateral free trade regime. It is in all our interests to keep open the system of free and fair trade.

Indeed APEC countries should set themselves up as examples of good GATT abiding citizens of the world and oppose the formation of trading blocs. In that way we will contribute to world economic growth.

4. Ministers also noted that without strong economic performance, democratic institutions cannot flourish, nor can social justice be promoted. Strong economic growth therefore promotes security in the region.

5. Ministers discussed a range of topics including:

1. a. World and Regional Economic Developments/Regional Economic Outlook

2. b. Global Trade Liberalization — GATT Uruguay Round

3. c. APEC Work Projects

4. d. Future Participation.

6. Ministers reiterated their appreciation for the important contribution that ASEAN and its dialogue relationships have continued to play in the development of APEC and stressed that the enhancement of Asia–Pacific Economic Cooperation would complement and strengthen the constructive role played by ASEAN. Ministers reaffirmed that APEC was outward-looking and did not aim to form a trading bloc, thereby contributing to further development of the world economy.