Early liberalization of the automotive industry within APEC was proposed by the USA. With automobiles comprising approximately 8 percent of global exports in 1995, of which 45 percent originate from the APEC region. The industry is easily identified as one of the sectors that could greatly benefit from trade-promoting policies among within APEC.
The long-term benefits of the EVSL Program on the automotive industry were evident to all the industry participants who took part in the consultation. They however, unanimously feel that the current pace of liberalization being undertaken in the ASEAN is already quick; and that the setting of even earlier targets for the removal of existing trade barriers will be detrimental to the local industry.
