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President George W. Bush will join other world leaders at the 11th Asia Pacific Economic Cooperation (APEC) Leaders' Summit in Bangkok, Thailand, on October 20-21. The meeting of the heads of 21 economies bordering both sides of the Pacific Ocean1 provides a unique opportunity for President Bush to advance American economic and security interests in Asia. Major items on the President's agenda should be:
Congress has approved $1 billion for the Millennium ChallengeAccount for FY 2004. To accomplish President Bush's goal of"reward[ing] nations that have more open markets," the MillenniumChallenge Corporation should focus on each candidate country'sprogress toward greater economic freedom. The Heritage Foundation'sIndex of Economic Freedom tracks precisely such progress.
As Secretary of Agriculture Veneman explains, "the long-termprosperity of the U.S. food and agriculture sector depends on ourability to stay ahead of the competition in the global economy. Oneof the most important tools we have in the struggle to remaincompetitive is Trade Promotion Authority.
Developed countries should travel to the World Trade Organization'sministerial meeting in Cancun with a strategic plan to lowersubsidies and tariffs in order to finish the Doha round on time.Without real change, much of the developing world will continue tobe frozen out of the West's markets and be consigned to furtherdecades of poverty.