I am pleased to provide a review from last week’s Pacific Economic Cooperation Council (PECC) 18th annual meeting in Washington DC.
Over 300 attendees enjoyed a day and a half feast of information and insights from the seven high calibre speaker panels. The event was masterfully stage managed by Dr Charles Morrison, Chair of PECC and President of the East West Center. Senior government and academic/think tank representatives were in attendance from all the major APEC economies.
The theme ‘Ásia-Pacific Economic Decline: How Deep? How Long?’ attracted a wide range of opinion an opportunity for additional research.
The keynote address on the opening morning was from the Hon. James B. Steinberg, US Deputy Secretary of State, and the welcome banquet included an award to Peter F. Geithner whose son, Timothy Geithner, met with attendees at the pre-banquet drinks reception.
Please read further for John Kotch’s 1500 + word review.
As ever, your feedback and comments on this and all PBEC activity is welcome. Another PEBC Board meeting is scheduled for Wednesday 20th May, so feedback at this time is particularly welcome. A survey was circulated to members a week ago. If you have not already received this and still wish to provide your comments, please email by return before the end of business on Tuesday 19th May.
Best wishes for a blue sky ahead, wherever you are.
Although it has met only once before in Washington in November 2008, the G-20 has become the focal point of high hopes and intensive international efforts to address the global economic downturn from the current financial crisis. In the first instance, this involves coming to terms with the causes and consequences of the financial crisis itself, a prerequisite for arresting the negative feedback loop all to evident in negative growth rates in every major economy, falling international trade and growing protectionism. It also must address broader issues, including financial regulatory reform and the expansion of IMF lending facilities to make up for the projected multibillion dollar shortfall in FDI to emerging economies.
2009 "Road to APEC" Singapore Cocktail Reception Review
PBEC goes on the road – first stop Singapore
On Thursday February 26th, PBEC launched its 2009 initiative “Road to APEC”, which was held at the Shangri-la hotel in Singapore.
About 70 of Singapore’s top businessmen joined alongside guests who flew in from Hong Kong, Thailand, and beyond to hear Ms. Ching Siak Chong, APEC CEO Summit 2009 Chair, speak about what we can expect this year.
Ms. Chong stated the mission of ABAC this year is to accelerate regional integration, championing sustainable development, and strengthening capacity building and enhancing connectivity across borders, especially for SMEs. Via the APEC CEO Summit, the goal of 2009 is to profile APEC as a pro-business organization and to advocate closing integration and engagement between APEC leaders and business leaders, while creating greater opportunities for networking among the Asia-Pacific community.
She also commended PBEC for its policy work and support of APEC. “The advocacy and advisory work driven by organizations like PBEC and ABAC are crucial to reflect the concerns of the business community to government officials, in a bid to enhance the business environment and improve cross-border trade and investment in the region. In this regard, I commend PBEC for drafting a policy statement on the financial crisis to APEC Leaders during last year’s Summit in Lima, Peru. “ said Ms. Chong. “Your support as an independent voice of business in the Asia-Pacific in this year’s APEC process is equally, if not more valuable, during this challenging economic climate.”
Following the reception, a few key members and VIP guests joined the PBEC Chairman and CEO Summit Chair for a private dinner to discuss further cooperation in 2009.
Hong Kong Convention and Exhibition Centre January 19-20, 2009
EVENT INTRODUCTION
The Asian Financial Forum (AFF) brought together some of the world's most influential monetary minds and the region's most dynamic business leaders to discuss the opportunities and challenges facing Asia's economic development amid the turbulent global financial situation.
Under the theme "The Changing Face of Asia", AFF covered a variety of financial issues, including Asia’s role in global financial markets, the implications of global volatility for Asia, financial reforms and changes in the regulatory regime, Islamic finance, the global investment climate and new business models amid the financial turmoil. Session were also held on issues including energy, natural resources and environmental protection which will have direct impact on the investment and business strategies.
AFF is the place for bankers, institutional investors, fund managers, business leaders, senior executives of high-growth corporations and other key financial players to build new contacts, gather the latest intelligence and explore business opportunities with the focus on China and the rest of Asia .
This two-day conference is co-organised by the Hong Kong SAR Government and the Hong Kong Trade Development Council (HKTDC).
PBEC is proud to be a co-sponsor of the Asian Financial Forum. Click the READ MORE link below to access the PBEC event review written up by Dr. John Kotch, PBEC Senior Advisor. For a full set of pictures from the event, please visit the Photo Gallery HERE
The following Policy Statement was released at the APEC Leaders Week in Lima, Peru following adoption by the PBEC Board of Directors:
20 November 2008 His Excellency Dr. Alan Garcia
Chair, Asia-Pacific Economic Cooperation
President of the Republic of Peru
Lima, Peru
Your Excellency:
The Pacific Basin Economic Council (PBEC), a private sector organization representing the Independent Voice of Business in the Pacific, view the current financial turmoil as a test of the ability of the Asia-Pacific community and its member economies to surmount the most serious crisis it has faced since the Asian financial crisis a decade ago.
December 3-4, 2008
China World Hotel
Beijing, China
THE SUSTAINABLE ENTERPRISE:
NEW MODELS FOR SUCCESS IN ASIA AND BEYOND
Building a sustainable enterprise is the defining challenge for CEOs today. With markets in a state of unabated turbulence and dramatic shifts in the external environment, companies have to find new ways to sustain growth and leadership positions in China, India and the rest of the world. In this context, environmental and market sustainability are critical factors that give an edge over competitors. And eventually much needed bottom-line results.
As a CEO managing a business in such difficult times, you have to work with conflicting objectives and achieve tough goals. You must know which battles to fight and how to win. We understand this balancing act and the CEO Forum can provide the right context for deeper insights and fresh perspectives. And reinforce the simple truths that can give you and your company a real edge.
As the CEO Forum enters its twelfth consecutive year, we are redefining the format to make it a more intimate, close-knit dialogue among business leaders. We believe a smaller, high-level gathering will further the sharing of thoughts and views on the critical challenges and emerging opportunities for companies in Asia and beyond. This format together with our interactive
approach will allow for an in-depth exploration of different topics as BusinessWeek editors, business and thought-leaders drive the open dialogue.
Join us at The CEO Forum -– as we define the strategic priorities and innovative business practices that should be on your agenda for tomorrow.
THEME:
“GROWTH, EQUITY AND SUSTAINABLE DEVELOPMENT: CHALLENGES FOR APEC”
The APEC CEO Summit 2008 brought together Leaders of economies and senior business figures from across the Asia Pacific and the Americas. The format were highly interactive and engaging.
H.E. President Susilo Bambang Yudhoyono of Indonesia
H.E. President Lee Myung-Bak of Korea
H.E. Prime Minister Abdullah Badawi of Malaysia
H.E. President Felipe Calderon of Mexico
H.E. President Alan Garcia of Peru
H.E. President George W. Bush of the United States of America
The annual APEC CEO Summit is the most important meeting of economic and business leaders whose decisions shape the future of the Asia Pacific and beyond.
The Summit has become a symbol of APEC's public and private sector cooperation It is a unique meeting of minds of economic leaders and distinguished figures from business and civil society and has greatly contributed to the development of APEC's goal of moving towards a common prosperity.
Role Players include:
Mr. Edmund Tse, Senior Vice Chairman AIG and CEO AIA
Mr. Jack Ma, CEO, Alibaba Group
Dato Timothy Ong, Chairman, Brunei Economic Development Board
Mr. Carlos Ugas, CEO, Cementos Lima
Mr. Xiao Ya Qin, Chairman, CHINALCO
Mr. Stephen Wilson, Chairman & CEO, CF Industries
Mr. Hermann Ude, CEO, DHL Global Forwarding
Mr. Richard Adkerson, CEO, Freeport McMoRan Copper and Gold
Mr. Nick Reilly, President, GM Asia Pacific
Dr. Jacob A. Frenkel, Chairman and CEO of the Group of Thirty
Mr. David Hale,, Chairman, Hale Advisers LLC
Mr. Vincent Cheng, Chairman, HSBC
Mr. Luis Alberto Moreno, President, Inter-American Development Bank
H.E. Mr. Angel Gurria, Secretary General, OECD
Mr. Pedro Pablo Kuczynski,Former Prime Minister of Peru
September 30th - October 1st, 2008
Khabarovsk, Russia
PBEC President speak at the 3rd Far Eastern Int'l Economic Forum
PBEC returned to the picturesque city of Khabarovsk the last week of September to participate in the Far Eastern International Economic Forum. The event, which was held for the third time in as many years bring in over 800 participants from approximately 20 countries from the region and around the world.
The Russian Far East, a region rich in energy reserves, metals, minerals, and other natural resources has gained a lot of interest and attention during the past years and is becoming an increasingly important trading partner, in particular in Northeast Asia. The region is positioning itself as a gateway to the Pacfic Rim countries, and with the opening of the new port in Vanino, trade is set to substantially increase.
The Pacific Basin Economic Council (PBEC) has a long-standing commitment of more than four decades to the principle of free trade based on a rules-based multilateral trading system. From its inception, PBEC has been one of the strongest supporters of multilateral trading rounds, including the Uruguay Round, as well as the creation of the WTO in 1996.
While PBEC views the recent collapse of the Doha Development Round of multilateral trade talks in Geneva following a seven-year effort as a major setback, it is by no means the end of the road for multilateral trade. The most ambitious multilateral trade round yet, negotiations were bound to be contentious in making across-the-board cuts in agricultural tariffs and subsidies by developed countries, and offsetting cuts in imports of industrial goods, as well as greater market access in services by developing countries.
September 30th - October 1st, 2008
