History

The original concept for the Pacific Basin Economic Council...

...was born out of a Japanese and Australian initiative from discussions that started in 1964.

In the Pacific, the Second World War was not such a distant memory. Europe was forming itself into a trade and financial union and the Pan Pacific region was seen in business terms as asleep. China’s commercial awakening was 15 years away and international business was focused on the US and Europe.

In April 1967, some 54 participants from Australia, Japan and New Zealand gathered together to establish a business cooperation alliance focused on the opportunities that lay within the Pacific Rim. There were four observers from the US and Canada got involved the following year. The Pacific Basin Economic Cooperation Committee, as it was known then, was officially launched in Sydney in May 1968. This meeting was attended by 90 delegates and 25 observers and the founding countries were Japan, Australia, the US, New Zealand and Canada.

Over the years PBEC and its members have given rise and support to both the Pacific Economic Cooperation Council (PECC), as well as nurturing the formation of the Asia Pacific Economic Cooperation group otherwise known as APEC. PBEC has a long and significant relationship with both organizations.

Today, PBEC is THE independent voice of business across the Pacific ... an organization of business leaders seeking access and opportunities. Completely independent and apolitical, PBEC and its members offer important counsel to business and governments alike.