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.
An impressive 35th Gala Anniversary Dinner was hosted by GS1 HK – many congratulations to PBEC’s BoD and GS1 CEO Anna Lin and her wonderful team. A very impressive turnout and PBEC members were excited to reconnect with so many peers and friends and collaborate on mutual beneficial areas of interest including our upcoming report. It was a great opportunity to engage with Financial Secretary Paul Chan of HKSAR Government amongst others included Tencent, Cyberport, DF Group, DHL etc…..
PBEC is known for connecting business leaders with the political elite and politicians in the region past and present. We held a lunch in Bangkok in March inviting the former Thai PM given the elections in the country and he shared his thoughts on Thailand’s new administrations priorities.
Several PBEC members and our Chairman were in attendance at a wonderfully hosted Spring Networking ICAEW event in HK at the British Consulate. It was great to see Chairman Andrew Weir saying a few words together with PBEC’s ICAEW Mary Simpson Director of Int’l Member Engagement – APAC & PBEC BoD Peter Burnett supporting this timely catch-up with Government representatives and friends.
Singapore will implement mandatory climate-related reporting requirements for listed and large non-listed companies, with obligations for some to begin disclosing in line with the IFRS’ International Sustainability Standards Board (ISSB) standards starting as early as 2025. The new rules were announced today in the Parliament of Singapore by Second Minister for Finance Chee Hong Tat, with details of the new mandatory reporting requirements subsequently released by Singapore’s business reporting, accounting and corporate services and markets regulators the Accounting and Corporate…
APEC member economies are considering innovative and improved approaches to revitalize the Free-Trade Area of the Asia-Pacific (FTAAP) as a major instrument to further APEC’s regional economic integration agenda. The FTAAP was envisioned by APEC Leaders in 2006 as a comprehensive free trade agreement built on regional undertakings. It was originally proposed by the APEC Business Advisory Council (ABAC) 20 years ago. As host of APEC 2024, Peru is taking the lead to advance this agenda through a series of dialogues in…
The APEC Peru 2024 priorities website, for its host year under the theme “Empower. Include. Grow”. You can now visit their website to learn more about the following #APECPeru2024 priorities: 1) Trade and investment for inclusive and interconnected growth. 2) Innovation and digitalization to promote the transition to the formal and global economy. 3) Sustainable growth for resilient development. Click here: https://www.apec.org/2024-peru-priorities
We have seen some encouraging end of 2023 results coming through these past week from Asian economies like Vietnam, Philippines and South Korea in particular export data, but whilst there is optimism for 2024 amongst economists for certain ASEAN economies including Thailand, Indonesia, Malaysia & India. It can’t hide the fact overall there is still alot of risks around and a real lack of support for SME’s still suffering to adapt to the lack of demand and price sensitive consumers….
30 days Visa Free travel reciprocated between Singapore and China. 🇨🇳 On January 25, representatives of the Government of the People’s Republic of China and the Government of the Republic of Singapore signed the Agreement between the Government of the People’s Republic of China and the Government of the Republic of Singapore on Mutual Visa Exemption for Ordinary Passport Holders in Beijing. The agreement entered into force on February 9, 2024 (Lunar New Year’s Eve). Read More: https://www.ica.gov.sg/news-and-publications/newsroom/media-release/mutual-30-day-visa-exemption-arrangement-between-singapore-and-the-people-s-republic-of-china
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.
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.
AGENDA ITEMS:
1) Welcome remarks and regional perspectives by PBEC’s Chairman Andrew Weir MBE JP.
2) Remarks by Vice Chairman Dr. George Lam.
3) Insights from PBEC’s Anson Bailey’s interview with AI Futurist Zach Kass, formerly of Open AI.
4) Brief update from ABAC Canada’s Joseph Fung MD of Saltagen Ventures on the Food Security track at APEC, including observations from ABAC I Meeting in KL and the upcoming ABAC II meeting in Hong Kong SAR.
5) Observations and activities from Q1 and upcoming climate disclosures report by PBEC’s Michael Walsh, along with member events hosted overseas.
6) Open floor for additional comments and updates from delegates in attendance.
7) In closing remarks and action items – the Chair brings meeting to a Close
We are delighted to be joined by Andrew Weir our Chairman and Senior Partner and Vice Chairman of KPMG China on our latest episode of the Value Prop. Andrew provides us with some excellent commentary on the big topics concerning his clients and sharing some of his insights on the current status of APAC’s economy and where its heading into the latter part of 2023.
PBEC CEO Michael Walsh was a special guest alongside ICC Senior Directors Pamela Mar and Sebastian Man as well as Ambassador Curtis Chan of Milken Institute Asia and the former Financial Secretary of HKSAR amongst others including PBEC’s Peter Burnett, HKMA and FSDC senior executives. The index showed country ranking for digital adoption in supply chains and friendliness for FDI’s. Singapore came out 1st, Hong Kong SAR 4th, Taiwan, ROC 10th and Malaysia 15th, Japan 17th and South Korea 18th…