APEC promotes “green” energy via free-trade zone

Before attending the Asia-Pacific Economic Cooperation (APEC) summit at Vladivostok, Russia; the deputy U.S. trade representative Demetrios Marantis revealed here that the 21-nation cluster would soon implement a mandate on cutting down import duties on “green” technologies.

All APEC members stressed on helping those technologies which help the nations grow without jeopardizing the environment or adding to the currently looming environmental threat.

APEC’s strength on the global platform
The proposal came today as the member states were still preparing for the summit which is scheduled on Saturday and Sunday.

Welcoming the proposal on slashing import duties on “green” technologies, Marantis said the decision illustrates APEC’s strength to lead on the global platform.

Marantis opined during the pre-summit sessions that APEC members were "working together to create a high-standard, 21st-century trade agreement that addresses a lot of problems that exporters are facing in a way that will grow jobs and create new opportunities for exporters."

Now with the goal for encouraging “green” technologies, APEC is aiming at achieving double target within a particular timeframe; the first being working on trade liberalization together with the green growth.

Promoting renewable energy
Leading analysts foresee APEC’s latest breakthrough in promoting regional free trade zone thorough “green” technologies as a major breakthrough achieved through years of joint deliberated efforts.

As per the objective carried out by the APEC summit at Honolulu in 2011, a straight slash of 5 percent or less on the predefined list of 54 “green” technologies had been agreed upon.

Equipments utilizing renewable energy sources for power generation purpose have been including in the 54 “green” technologies’ list. The renewable energy technology list includes energy sources such as biomass, solar energy, wind energy, hydro power from waste water, recycling and quite a few others.