ASIA PACIFIC ECONOMIC COOPERATION
376. The Osaka Action Agenda was approved at the Informal Summit of APEC Economic Leaders held in Osaka, Japan on 19 November 1995, with a view to implementing the long-term vision of the Bogor Declaration.
377. The Action Agenda comprises two parts. Trade and investment liberalization and facilitation together form Part One while economic and technical cooperation make up Part Two of the Action Agenda. These components represent the pillars of APEC activities namely liberalization, facilitation and development cooperation.
378. Member economies of APEC will now formulate their respective Action Plans to implement the commitments required by the Action Agenda which they will submit to the APEC Ministerial Meeting in November 1996. These Action Plans will be in accordance with the general principles and framework of the Action Agenda to realize APEC's long term goal of free trade and investment in the region. The Action Plans will consist of the steps to be taken to achieve the objectives set out in each of the fifteen areas for specific action.
379. These areas are: tariffs; non-tariff measures; services; investment; standards and conformance; customs procedures; intellectual property rights; competition policy; government procurement; deregulation; rules of origin; dispute mediation; mobility of business people; implementation of the UR agreements; and information gathering and analysis.
380. Part Two of the Action Agenda is concerned with reducing economic disparities among APEC economies; improving economic and social well-being of the peoples of the region; and contributing to the process of trade and investment liberalization and facilitation. The Action Plans will be based on three essential elements of developing common policy concepts, implementing joint activities and engaging in policy dialogues.
381. Economic and technical cooperation activities will be pursued in specific areas of human resource development and industrial science and technology. Small and medium scale enterprises, economic infrastructure and energy will also benefit from this, as will transportation, telecommunications and information and tourism. Specific areas in trade and investment data, trade promotion, marine resource conservation, fisheries and agriculture technology have also been earmarked in this connection.