The Report to the APEC Committee on Trade and Investment arising from the Hanoi Dialogue contained five recommendations.
1. Regulatory Convergence of Standards – The adoption of international best practice regulation that includes industry-led advertising standards and complaints resolution.
2. Further Study – APEC undertake a stocktake of advertising standards and regulation practice.
3. Information Sharing – There should be a sharing of information including a centralized repository of resources related to self-regulation for access by member economies.
4. Capacity Building – There is a need for capacity building to promote effective self-regulation and help economies develop appropriate systems. Two initiatives are suggested:
- Regulatory Mentorship Program – A mentoring program on such issues as advertising standards legislation, regulations and development of regulatory codes
- Self-Regulatory Organisation Workshop – A technical workshop held in 2013 for economies seeking to build capacity for the effective establishment and/or improved operation of a self-regulatory regime.
5. Utilization of Existing Resources – Use existing resources to build capacity such as the OECD consumer policy toolkit developed to guide economies develop regulatory policy.
Comment: The recommendations are ambitious but also achievable. Industry can play a vital role to assist speedy implementation.
This website can assist in the in the fulfilment of the recommendations especially by being a vehicle for information sharing, a repository for resources and building capacity.