Why have a ministerial meeting on structural reform?
APEC has historically focused on removing cross-border impediments to trade liberalisation and facilitation. However a greater understanding of the importance of removing behind-the-border barriers and the close relationship between these reforms, productivity growth, economic prosperity and sustainability has led to a broadening of the APEC agenda to include structural reform. In 2004, the APEC Leaders Agenda to Implement Structural Reform (LAISR) identified five priority work streams on structural reform. These were competition policy, regulation reform, public sector governance, corporate governance, and strengthening economic and legal infrastructure. APEC officials have been advancing the LASIR agenda and this ministerial meeting will provide greater focus and further momentum to this agenda.
