APEC to reject India, focus on internal issue at Sydney summit
The US, China, Russia and APEC's 18 other members are expected to deny India, one of the world's fastest growing economies, entry to their club when the Asia-Pacific Economic Cooperation forum meets in Sydney next week.
By Agencies |
SINGAPORE: The US, China, Russia and APEC's 18 other members are expected to deny India, one of the world's fastest growing economies, entry to their club when the Asia-Pacific Economic Cooperation forum meets in Sydney next week.
Instead of expanding, analysts and officials say, APEC wants to focus on structural and internal reform. India's trade policies may also clash with APEC's relatively freer agenda, officials said.
India, Mongolia, Ecuador, Laos and Colombia are among a dozen countries vying for APEC membership if the group decides to end a 10-year moratorium on expansion it adopted when the Asian economic crisis began in 1997.
Australian Prime Minister John Howard said last week that while admitting India to APEC is "highly desirable," there is no consensus among the 21 member countries to do so, AFP reported today.
US President George W Bush, Chinese President Hu Jintao, Russian President Vladimir Putin and Japanese Prime Minister Shinzo Abe are among the leaders expected to attend the forum.
"In the 14 years that India has waited for APEC membership, its position in the global economy has grown significantly," Malcolm Cook and Alan Gyngell, researchers at the Lowy Institute, a Sydney-based research group, said in a paper.
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