[Congressional Bills 106th Congress]
[From the U.S. Government Publishing Office]
[S. Con. Res. 48 Engrossed in Senate (ES)]

  1st Session
S. CON. RES. 48

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                         CONCURRENT RESOLUTION

Whereas the Asia-Pacific Economic Cooperation (APEC) Forum was created ten years 
        ago to promote free and open trade and closer economic cooperation among 
        its member countries, as well as to sustain economic growth and 
        equitable development in the region for the common good of its people;
Whereas the twenty-one member countries of APEC account for 55 percent of total 
        world income and 46 percent of global trade;
Whereas APEC leaders are committed to intensifying regional economic 
        interdependence by going forward with measures to expand trade and 
        investment liberalization, pursuing sectoral cooperation and development 
        initiatives, and increasing business facilitation and economic and 
        technical cooperation projects;
Whereas a strong international financial system underpins the economic success 
        of the region;
Whereas, given the challenges presented by the financial crisis, APEC leaders 
        last year pledged to work together in improving and strengthening social 
        safety nets, financial systems and capital markets, trade and investment 
        flows, corporate sector restructuring, the regional scientific and 
        technological base, human resources development, economic 
        infrastructure, and existing business and commercial links for the 
        purpose of supporting sustained growth into the 21st century;
Whereas the outstanding leadership of New Zealand during its year in the APEC 
        Chair has produced a series of important themes for the annual APEC 
        Leaders meeting in Auckland, New Zealand on September 12-14, 1999, 
        including--

    (1) expanding opportunities for private sector businesses through the 
reduction of tariff and nontariff barriers;

    (2) strengthening the functioning of regional markets, with a 
particular focus on building institutional capacity, making public and 
corporate economic governance arrangements more transparent, and guiding 
regulatory reform so that benefits of trade liberalization are maximized; 
and

    (3) broadening support for and understanding of APEC goals to 
demonstrate the positive benefits of the organization's work for the entire 
Asia-Pacific community;

Whereas the unique and close partnership between the public and private sectors 
        exhibited through the APEC Forum has contributed to the successful 
        conclusion of the GATT Uruguay Round and agreement over other 
        multilateral trade pacts involving information technology, 
        telecommunications and financial services;
Whereas APEC member countries have provided helpful momentum, through active 
        consideration of the Early Voluntary Sectoral Liberalization plan, to 
        the next round of multilateral trade negotiations scheduled to begin 
        later this year at the Third WTO Ministerial Meeting in Seattle, 
        Washington; and
Whereas the APEC leaders have resolved to achieve the ambitious goal of free and 
        open trade and investment in the region no later than 2010 for the 
        industrialized economies and 2020 for developing economies: Now, 
        therefore, be it
    Resolved by the Senate (the House of Representatives concurring), 

SECTION 1. SENSE OF CONGRESS.

    It is the sense of Congress that Congress--
            (1) acknowledges the importance of greater economic 
        cooperation in the Asia-Pacific region and the key role played 
        by the Asia-Pacific Economic Cooperation (APEC) Forum;
            (2) urges the administration fully to support the APEC 
        forum and work to achieve its goals of greater economic growth 
        and stability;
            (3) calls upon the administration to continue its close 
        cooperation with the private sector in advancing APEC goals; 
        and
            (4) expresses appreciation to the Government and people of 
        New Zealand for their exceptional efforts in chairing the APEC 
        Forum this year.

SEC. 2. TRANSMITTAL OF RESOLUTION.

    The Secretary of the Senate shall transmit a copy of this 
resolution to the President and the Secretary of State.

            Passed the Senate August 5, 1999.

            Attest:

                                                             Secretary.
106th CONGRESS

  1st Session

                            S. CON. RES. 48

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                         CONCURRENT RESOLUTION

        Relating to the Asia-Pacific Economic Cooperation Forum.