Business Leaders Speak Up: Why APEC?
Why are you involved with APEC?
Deborah Henretta, Proctor & Gamble & ABAC U.S.A
I'm involved with APEC because I believe that there is an opportunity to facilitate stronger and more open trade within the APEC region, and I'd really like to see what APEC economies can do coming together to try to facilitate open trade, to try to get rid of some of the barriers that prevent trade, and all in the process one would hope of springing growth in the global economy which, given the global economic crisis is a bit of concern at this point.
Roberto Romulo, Chairman, Philam Insurance & ABAC Philippines
I've been involved since Blake Island [in 1993] which was the first Leaders' Summit. And as a businessman, I must say we were really enthralled by the concept of APEC. It was going to be like the European Union at some point - seamless. And I think, more than anything else, the businessmen said, "If this works out properly, business will be easier to do between countries, and we can make decisions based on the policies made by the leaders too, which we can use as the basis for our strategic planning, and hopefully at some point even our tactical planning."
Anthony J. L. Nightingale, Managing Director, Jardine Matheson & ABAC Hong Kong, China
The reason why I'm interested in being involved and engaged in APEC and ABAC, the businessmen's group that advises APEC, is because I think it's both relevant to Hong Kong's economy and society, and also very much to my own business. As a business, Jardine Matheson is involved in many of the APEC economies so the trade and investment policies and, indeed, policies in general of those economies are all very relevant to us.
Tony Nowell, Founding Director, Valadenz & ABAC New Zealand
It's a fundamentally important issue for us[New Zealand] to work with APEC because we're obviously a very small country and a very small economy in a very large region. But also, we're a very open economy - in fact we're probably the most open economy in the whole of the Asia-Pacific. So it's fundamental to us that we maintain high visibility in a regional environment. It's very important for us to maintain our place in the world; otherwise our voice will be lost.
Fauziah Dato Talib, Managing Partner, IQ-Quest Company & ABAC Brunei Darussalam
The reason behind this goes way back to when I first started with APEC as an "APEC Baby" in 1999 when Brunei hosted the ABAC meeting prior to the CEO Summit in Brunei. I was just a young entrepreneur at that time, had no voice, started coming back into Brunei from working abroad and I thought I'd start something. And it was very difficult to get things done, to basically access the people who could change policies or who could listen to the concerns that you had about trying to do business in Brunei... I've seen a lot of things happen in that time. Young entrepreneurs like myself were heard, were recognised, which in Brunei was something which would never have happened.
What do you think the benefits of APEC are?
Anthony J. L. Nightingale, Managing Director, Jardine Matheson, ABAC Hong Kong, China
I think APEC provides a unique forum, bringing together the economies of East Asia and also certain economies of North and South America. And although it's not an organisation that negotiates binding agreements, it does become involved with all the key trade and investment issues and indeed a much wider agenda, leading to issues like energy security, food supply, and climate change etcetera. And I think it has a valuable contribution to make on those subjects. For me as a businessman, the most important items are trade and investment liberalisation and facilitation. I am a big believer that further liberalisation and facilitation measures do help generate business, and therefore generate increased wealth in the APEC economies. Good for business, good for the people that work there and live there.
Fauziah Dato Talib, Managing Partner, IQ-Quest Company & ABAC Brunei Darussalam
It allows [our Leaders] to see what is possible and what's not possible... it gives them an insight into how other economies with the same challenges have overcome those challenges, and to use those practices as benchmarks of how things can be done.
Roberto Romulo, Chairman, Philam Insurance & ABAC Philippines
As a result of the security challenges we've had since 9/11, there is a greater awareness among businessmen because we've had exchanges not only at the ABAC level but in shipping etcetera. So the awareness is there; therefore plans have been enhanced for security.
Another thing which could be beneficial to all of us is that APEC and ABAC have been working very well with the World Health Organisation, for example on the SARS potential pandemic and also on the H1N1 flu. We have been making contingency planning for business. It is one thing for governments to have plans, but you'll be surprised at what businesses have to do.
And of course, from a business standpoint it may seem silly but the APEC Business Travel Card for us who travel around means a great deal. We can avoid the lines, for example, and that's extremely important if I'm going to Korea or to China and I want to stay there for just one day. And I believe even the United States is now in the loop - we can go to the crew line.
Tony Nowell, Founding Director, Valadenz & ABAC New Zealand
Well I think you've got to look at the long term benefits of APEC as the most important thing. If we do achieve by, say, 2020 - let's put a stake in the ground - a free trade area in the Asia-Pacific then I think that's hugely beneficial to have all of that operating as a free trade zone. And we are also a very significantly developing part of the world, a very large population base measured in the billions, and to satisfy those people and to give them the development that they want, free trade is absolutely fundamental. So APEC is incredibly important in that way.
What would you like to see from APEC this year?
Anthony J. L. Nightingale, Managing Director, Jardine Matheson, ABAC Hong Kong, China
This year of course the most important subject is what's happening to the world's economy and the world's financial system. I think APEC and ABAC have played a role in trying to guide the leaders of the world economies in the direction of how best to stimulate the economies, how best to handle the current economic crisis. I think it's extremely important that countries avoid protectionist measures at this time, that we try to move forward with the much-delayed WTO Doha agenda, and that also we continue the good work on issues like investment and trade facilitation, as well as liberalisation because that's really where business can benefit and economies can grow and prosper, even in these difficult times.
Deborah Henretta, Proctor & Gamble & ABAC U.S.A
What would be really helpful, especially on the heels of the global economic crisis that we currently find ourselves in, is just to see some short-term, what I might call "easy wins" for APEC to come out on facilitating more open trade between the member economies, significantly reducing the number of intentionally protectionist and sometimes even unintentionally protectionist actions on the part of member economies, and then complementing those short-term actions with some big progress on some of the longer term policy decisions that I think need to lay the framework for what potentially could be a free and open trade region.
Tony Nowell, Founding Director, Valadenz & ABAC New Zealand
Maintaining a very strong focus on world trade and not allowing protectionism to close it down, otherwise the situation's going to get worse: secondary to that, energy security, food security and the environmental issues.
Fauziah Dato Talib, Managing Partner, IQ-Quest Company & ABAC Brunei Darussalam
Number one, ultimately for myself and for Brunei, it's the ease of doing business and raising our capabilities. Having addressed those practical things first, within your country, before you can actually start thinking about dealing with what's more complicated outside of your economy. To me that's the number one priority.
Roberto Romulo, Chairman, Philam Insurance &,ABAC The Philippines
I would like the leadership, all leadership, particularly the major powers, to take it very seriously, and because of the global financial meltdown it seems to me they're the only ones who can have a collective action plan. Because if APEC can do it then maybe it can get to the G20 level or vice versa. The second point is, when you look at the hundreds of millions of people involved in APEC, particularly the developing countries, I'm not sure everyone appreciates the pluses of APEC nor does it really trickle down to them, and that to me is the ultimate dream, to make that happen.