APEC leaders agree to cut tariffs on green goods

APEC leaders meeting in Hawaii have committed to cutting tariffs on environmental goods to no more than 5 percent by the end of 2015, according to a report from Australia’s ABC News today.

The leaders issued a joint statement in which they said they would also eliminate non-tariff  barriers that impede trade in green products.

“Taking these concrete actions will help our businesses and citizens access important environmental technologies at lower costs, which in turn will facilitate their use, contributing significantly to APEC’s sustainable development goals,” the statement said.

APEC economies will make a list of environmental goods next year and reduce tariffs, the statement said.

The statement also set an aspirational goal of reducing the bloc’s energy intensity – the amount of energy used compared with the economy – by 45 per cent by 2035.

The United States made the trade in green goods, such as solar and wind energy, a priority for its chairmanship of the APEC forum, seeking a way to boost both job growth and environmental action.

But a senior Chinese official last week said that the goals set out by the US side were “too ambitious and beyond the reach of developing economies”.

In an apparent nod to Chinese concerns, the statement said that APEC would cut tariffs while “taking into account economies’ economic circumstances”.