“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.

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: ABAC Meeting announcement 2023

APEC Business Advisory Council – ABAC I to be held on 12-14 February 2023 at the Cordis Auckland, New Zealand. Latest details revealed by our colleague & friend of PBEC Stephen Jacobi at Tradeworks. Link to PR: https://www.linkedin.com/posts/nz-international-business-forum_at-the-request-of-the-united-states-which-activity-7008563092208979969-YYup?utm_source=share&utm_medium=member_ios

: APEC Rolls out Priorities for 2023: Issued by the Informal Senior Officials’ Meeting Honolulu, The United States, 13 December 2022.

Under the theme “Creating a Resilient and Sustainable Future for All,” the United States emphasized its commitment to drive forward work on key issues such supply chain resilience, digital trade, connectivity, opportunities for small and medium-sized enterprises, climate change and environmental sustainability. https://www.apec.org/press/news-releases/2022/apec-rolls-out-priorities-for-2023

: Highlights of the APEC Business Advisory Council Report 2022 by WAIFC

Background to November 2022 Annual Dialogue Recommendations In late October, the Business Advisory Council presented its recommendations to the group chairman for onward transmission to the member countries’ economic leaders.  In addition, many drafting participants presented the document formally to their heads of government; the proceedings of APEC’s annual dialogue take place at that highest intergovernmental level, and so it was for this year’s attendance at that venue. APEC in Action 2022 APEC’s continuing working groups will focus on the…

: APEC & ABAC upcoming meetings

PBEC was delighted to have achieved a coup at its recent Annual Dialogues Summit 2022 in hosting the outgoing APEC Thailand 2022 Chair representatives and the incumbent APEC USA Chair for 2023 together only 24 hours after APEC 2022 had concluded. A big thank you to the following speakers who were able to attend our PBEC Summit and share their first-hand views and observations as well as glimpse into the year ahead, having just gotten back from attended either the…

: Review of PBEC Annual Dialogues Summit 2022

The Pacific basin Economic Council (PBEC) is celebrating its 55th anniversary this year since its establishment, in lieu of which we just concluded our Annual Dialogues Summit today which was held over 2.5 days from the 22-24 November 2022, virtually over zoom events. We wish to express a special thanks to our Platinum Sponsors KPMG, OUE and BitMEX. PBEC assembled 75 business, Government, Non-Government and academic leaders from across the globe, but in particular from the 21 Member States of…

: Bangkok Goals on Bio-Circular-Green Economy

Recalling the Putrajaya Vision 2040, APEC reiterates our commitment to pursuing strong, balanced, secure, sustainable and inclusive growth in the Asia-Pacific region. APEC is determined to continue advancing its sustainability objectives in a bold, responsive, and comprehensive manner to address the heightened economic and environmental challenges and disruptions facing the region, building on our commitments in the Putrajaya Vision 2040 and the actions set out in the Aotearoa Plan of Action (APA), for the prosperity of all our people and…

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Member Updates

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…

PBEC CEO Michael Walsh and Treasurer Anson Bailey hosted a few of our HK based PBEC Directors for its first informal face to face lunch of 2023 in January prior to CNY. In attendance were directors; Lester Huang, Anson Chan, Sebastian Man, Diana Chou & David Armitage. Apologies were received from Lei Yiu, Thomas Wong and Ben Simpfendorfer. “It was lovely to catch up together, given the lifting of the covid restrictions in Hong Kong. The Aviation Club is situated…

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 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 Delegation Invitation to attend the ABAC Brunei Business Conference 2023

Dear PBEC members, Please find attached a letter of invitation via one of our partner organisation’s Australia ASEAN Chamber of Commerce courtesy of our own PBEC Board of Director Deborah Biber from the APEC and ASEAN Business Advisory Council’s of Brunei. This invitation invites you to consider attending the Brunei Business Conference on the 27th to 30th of April 2023 being held at The Empire, Brunei and the related events around the APEC Business Advisory Council along with the conference…

About PBEC

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.

Our Mission

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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