Shaping the APEC agenda

The Treasurer Peter Costello says he will press for central bank co-operation to strengthen bond markets at the Asia Pacific Economic Committee meeting of world leaders in Sydney next week.

Costello said he would use APEC to push for more work by regional countries to develop the regional bond market, helping governments cut the foreign exchange risks involved in issuing US dollar debt, reports The Australian Financial Review.

But Howard’s plan to make climate change an important item of the agenda could be derailed as focus is shifting to a UN meeting planned for Jakarta and a summit in Washington, where US president George Bush is holding a meeting of major greenhouse emitters in September.

Jacqui Walker