“PBEC releases its Global Sourcing Report on APAC 2023

Regional trends in global sourcing

As businesses assess their operational capacity needs for a predicted bumpy recovery, to recalibrate during and post-pandemic, it is crucial to understand what brought us to this point and where it is likely leading us.

The Pacific Basin Economic Council (PBEC), Monash University Malaysia and KPMG, together with contributions from PBEC members, are pleased to publish this report on global sourcing, reviewing the most recently announced supply chain and sourcing movements in the region, charting a new course in Asia Pacific.

Read more…

: ADB Announces IF-CAP, New Program to Accelerate Billions in Climate Change Financing

INCHEON, REPUBLIC OF KOREA (2 May 2023) — PBEC’s longest strategic partner, The Asian Development Bank (ADB) today announced the Innovative Finance Facility for Climate in Asia and the Pacific (IF-CAP), a landmark program which could significantly ramp up support for the region in the battle against climate change. The announcement was made by ADB President Masatsugu Asakawa on the opening day of ADB’s 56th Annual Meeting in Incheon. “Climate change is the critical issue of our lifetime and here…

: New Path on Inclusion, Resilience, and Sustainability announced by APEC Business Leaders at ABAC II meeting in Brunei

Brunei, Bandar Seri Begawan, 30 April 2023 – APEC Business Advisory Council (ABAC) members this week urged APEC Trade Ministers to leverage the challenges facing the region, including environmental risks, financial stress and the cost-of-living crisis, as opportunities to firmly place the region on a new path of economic inclusion, resilience, and sustainability. Separate letters to APEC trade ministers and transportation ministers and statements on the WTO and the Free Trade Area of the Asia-Pacific capture ABAC’s views. 2023 ABAC…

: Asia-Pacific business leaders call for action on climate and economic inclusion – from ABAC I Meeting Auckland NZ

APEC NEWS RELEASE Issued by The APEC Business Advisory Council (ABAC) Auckland, 14 February 2023 – Members of the APEC Business Advisory Council (ABAC) met in Auckland, New Zealand this week to develop a work plan that calls on policymakers to leverage trade and economic policies to address the region’s sustainability and economic inclusion challenges. 2023 ABAC Chair Dominic Ng noted, “APEC members need to undertake massive decarbonization of their economies while ensuring that disadvantaged parts of our communities are not…

: Suzuran Medical Inc. (Japan) joins PBEC as Corporate Member – Feb 2023

Suzuran Medical Inc. started the manufacture and sale of cotton bedding over 180 years a go, the company has always dealt with cotton. Using this natural fiber as a base, Suzuran are pushing forward with research into cotton to help assist in humanity’s bright future. Expanding from its unique experience with such products in the medical world, they have taken the same dedication to customer benefits into their baby, hygiene, and cosmetic products. Suzuran Medical’s President is Yasuhiro Kunieda, born…

: SUSTAINABLE TRADE- The rising role of services in global trade – Feb 2023

Author: Patrick Low Senior Fellow – Asia Global Institute It has become fashionable to argue that globalization is in decline. The picture is more nuanced, however. While trade in manufactures as a proportion of overall economic activity appears to have peaked in some countries, the growth of trade in services as a proportion of GDP has certainly not slowed. The future of services trade in global value chains A recent series of papers by Richard Baldwin argued that globalization and…

: 2023 APEC Theme and Priorities – Feb 2023

Under the theme “Creating a Resilient and Sustainable Future for All,” USA Chairing APEC2023 plan to build a more interconnected, innovative, and inclusive APEC region. Through its APEC 2023 host year, the USA seek to further U.S. economic engagement with the region.  Regular exchanges among governments, business leaders – including through the APEC Business Advisory Council (ABAC) – and other stakeholders such as PECC and PBEC are critical to ensuring that APEC is delivering pragmatic solutions to the key challenges facing U.S. workers and…

: PBEC CEO visits Vietnam and sits down with local members, first time in 3 years – Feb 2023

PBEC CEO Michael Walsh took the opportunity to visit some of the PBEC members in HCMC and Hanoi on his recent trip to Vietnam over the Chinese & Tet New Year 2023. “I had the chance to sit down with KPMG Chairman and CEO Warrick Cleine of Vietnam and Cambodia at their office in HCMC. It was lovely to have this opportunity to sit down together and share each others views on the hot issues and areas of focus for…

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Member Updates

At our Annual Dialogues Summit 2022 in November, PBEC teamed up with The Local2030 Islands Network and advocate for Dashboard data monitoring software as an essential tool in sharing best practices to mitigate emissions and achieve its SDG goals. It is the world’s first global, island-led peer-to-peer network devoted to advancing the Sustainable Development Goals (SDGs) through locally driven solutions and we really like many of the initiatives this group is developing, so its only fair we share. Sharing is…

Far East Consortium International Limited (“FEC”; Stock Code: 35.HK), is delighted to announce the opening of two landmark hotels in the CBD of Melbourne, Australia. On 23 March 2023, FEC opened the Ritz-Carlton Melbourne. The hotel consists of 257 luxury guest rooms located within the West Side Place mixed-use development in the CBD of Melbourne. The lobby sits on the 80th floor and all the rooms offer impressive views over Melbourne. The Ritz-Carlton Melbourne represents the second Ritz-Carlton developed and opened…

“I am honoured and humbled to have been appointed by the Chief Executive of Hong Kong to serve on the Council for Carbon Neutrality and Sustainable Development, effective May 1, 2023, for a term of two years.” Stated Natalie Chung on her Linkedin official page this past week. She went on to say, “recognising the gravity of the task at hand, which is to define a roadmap and implementation plan for Hong Kong to achieve our 2050 carbon neutrality target,…

From left to right in the picture: Jan De Silva President & CEO of the Toronto Region Board of Trade David Armitage PBEC Board of Director & CEO Velocity Solutions Group Mairead Lavery President and CEO of Export Development Canada (EDC) Stephen Lund CEO of Toronto Global Jakarta, Indonesia. February 27th 2023 – The PBEC attended the first Canada-ASEAN Business Forum since the pandemic on the 24-25th February held in Jakarta, Indonesia. Represented by PBEC board of director David Armitage…

QBE Hong Kong is pleased to share with the PBEC Community, the release of its 5th iteration of our annual SME research for Hong Kong. SMEs are the backbone of the local economy. To better understand this important customer segment, QBE Hong Kong conducted the annual SME survey in October 2022 to gain valuable insights into the opportunities and challenges faced by SMEs. The study drew on an online survey of 422 Hong Kong SMEs from a wide range of…

Blinken outlined the Biden Administration’s much anticipated China strategy in a public speech in May last year. Blinken articulated an approach to China built on three prongs: invest, align, and compete. The “invest” pillar of the strategy calls for the US to make substantial investments in cutting-edge industries crucial to economic and strategic pre-eminence. The “align” pillar focuses on cooperating with partners that share a common vision for the Indo-Pacific. The “compete” pillar identifies economic, strategic, and philosophical ways the…

The Pacific Basin Economic Council believes that through cooperation and the exchange of ideas, the private sector can work with governments to promote significant growth and prosperity in Asia Pacific.
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PBEC Members Invitation from FPTPEC – The deep seabed: Noumea 13-14 June 2023

Dear Members and friends of PBEC. On behalf of Pascal Lamy, chair of the French Pacific Territories Economic Committee (FPTPEC), I am delighted to extend an invitation to the PBEC members & its community to join this special seminar on June 13 and 14 in Noumea (New-Caledonia) on the theme of “The deep seabed: the state of play in Asia-Pacific“. This hybrid seminar will bring together speakers from across the Asia-Pacific region (Australia, China, Cook Islands, Malaysia, New Caledonia, New…

PBEC Bi-Monthly Meeting recording held in April 2023

PBEC holds a closed-door briefing every two months with its board and members by strict invitation only. Not everyone can attend the meetings and this one was our first hybrid-held meeting since all covid restrictions were lifted in February by the HK Government, so there were still many attending via online means. The subject areas we cover are typically broad and wide-reaching, but mainly on trade-related, geopolitical and economic matters of interest. A strong focus in this meeting is on…

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PBEC – Pacific Basin Economic Council is by invitation ONLY a members based institution, that supports connectivity and cross-border regulatory standardisation efforts within APAC for all technological advancements, through dialogue, engagement and collaborative efforts.

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PBEC’s focus is to continual attain recognition as the most comprehensive multilateral platform for APAC business leaders to engage with, advocating key trade issues of importance under a fair rules based system, thus promoting cooperation amongst member States to achieve inclusive, sustainable economic and social development in Asia and the Pacific.

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The Think Tank for Business Leaders in Asia-Pacific

Headquartered in Hong Kong SAR, the (PBEC) Pacific Basin Economic Council is the region’s oldest business leaders regional network provider and these days quasi-Think Tank assisting policy-makers. It is a strictly “By Invitation Only” members based organisation with over 24,000+ business leader, academic & Government representative affiliated globally. During Covid-19 the PBEC expanded its presence with official representation in the UK as part of its post-Brexit support connecting UK based firms pursuing a foothold in the Asian Market. It also renewed…

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