chapter  3
Trade and investment liberalisation and facilitation
ByIppei Yamazawa, Shujiro Urata
Pages 39

In 1994 the Bogor Declaration set the ambitious target of ‘achieving free and open trade in the region by 2010 and 2020’. In 1995 the Osaka Action Agenda (OAA) provided a guideline for implementing policy measures to reach this target: trade and investment liberalisation and facilitation (TILF). It adopted a unique modality for TILF: concerted unilateral liberalisation (CUL), in which individual members announce their liberalisation plans (individual action plans, IAPs) unilaterally and then watch each other’s implementation so as to encourage all members to achieve the Bogor target by the set deadline. In 1996 APEC leaders adopted the Manila Action Plans for APEC (MAPA), in which all APEC members submitted their IAPs; this has been implemented since 1997.