Economic Leaders Discuss Key Business Issues in Free-flow Chat with Asia-Pacific Business Leaders
Bringing WTO negotiations back on track, enhancing security, building capacity, implementing transparency standards and ensuring business input into the APEC process were amongst the topics discussed in today's dialogue between APEC Economic Leaders and the APEC Business Advisory Council (ABAC).
Dr. Viphandh Roengpithya, Chair of the ABAC, said that the dialogue with the leaders of the 21 APEC economies, offered a unique opportunity for business to present its perspective on economics and trade issues directly to some of the most powerful decision makers in the world.
"Our dialogue with leaders is a practical exchange of ideas between business and government on issues of mutual interest. This forum for frank and open discussion with so many influential decision makers in government and business is an essential component of furthering APEC's trade and liberalisation agenda," said Dr Roengpithya.
This year, Thailand made innovative changes the format of the dialogue to enable us to fully explore our key recommendations to leaders and to hear directly from them their views on advancing APEC's free and open trade goals."
The dialogue began with the ABAC Chair's statement to Leaders which ended on a strong note to press ahead with reconvening the WTO to the negotiating table. Dr Viphandh said that, throughout that lively free-discussion style dialogue, Leaders positively responded very directly to the concerns and recommendations of most interest to the business community, including the five main recommendations provided in the 2003 ABAC Report to APEC Economic Leaders.
In advance of the dialogue with Leaders, ABAC provided clear expression of concerns (see attached letter) that established a framework for discussion. ABAC members felt, at the conclusion of the dialogue that Leaders are looking seriously into the constructive input being provided by the business community.
With respect to ABAC's key recommendations to Leaders, Dr. Viphandh noted that "Prime Minister Thaksin expressed his desire for leaders to muster the necessary political will to send a clear and strong message that APEC is firmly committed to the multilateral trading system under the WTO and to the successful and timely conclusion of the Doha Development Agenda.
"He urged us, as prominent members of the business community, to tell our governments that we want them to pursue policies of free and open trade, that we want them to open up their markets and eliminate subsidies.
"On our second recommendation, that APEC implement initiatives to enhance secure and efficient trade, leaders expressed their understanding that business is rightly concerned about the cause burden that security measures may impose, but commended ABAC's recommendations on risk management and implementing technology solutions to ensure there is no adverse impact on trade and investment from security measures.
"Leaders agreed that it is essential to build the capacity of the individuals, institutions and government so that they can fully enjoy the benefits of globalization and will look seriously in to our call for comprehensive measures for capacity-building.
"Leaders welcomed our recommendation for APEC to address corporate governance and improve transparency and fully understand that our key business and investment decisions and confidence are affected by the quality and timeliness of information, good corporate governance and transparency.
"Leaders also appreciated our recommendation that APEC facilitate business input into the APEC process by ABAC and the private sector by continuing to explore ways in which ABAC can practically provide the views and concerns of business to APEC at all levels."
The private-sector arm of the APEC forum, ABAC is made up of up to three senior business representatives from each of APEC's 21 Member Economies. These representatives are appointed by their respective heads of economy to advise APEC Economic Leaders and Ministers on issues affecting regional business.