29TH INTERNATIONAL GENERAL MEETING

With the APEC goal of trade and investment liberalization, by 2010 for industrialized economies and 2020 for industrializing economies, and barriers and tariffs decreasing throughout the region, the individual markets in the Pacific region are rapidly converging into a single market. The new business environment is forcing companies to become increasingly competitive.

As competition intensifies in the region, with local companies competing with regional and multinational firms and companies that have prospered in protected markets moving production to lower cost economies, what does it take to achieve bottom-line results in this new, more challenging business environment? Compounding the stresses of increased competition are the pace of technological change and worker training requirements, as well as other social and environmental factors. In addition to visionary leadership, quality products, and effective marketing, what must a company do to create an edge over its competitors?

Luncheon: "The Future of Hong Kong - Beyond 1997"

With only one month until Hong Kong's reversion back to China, a government leader addresses the issues that face Hong Kong and international companies during this most important transition.

Concurrent Roundtable Discussion: "Newly Industrializing Economies (NIEs): Charting the Way Forward for the Asia Pacific's New Tigers"

Call them the East Asian Tigers or the NIEs -- newly industrializing economies. Asia-Pacific dynamos such as Taiwan, Hong Kong, South Korea and more recently Thailand, Malaysia and Singapore have been leading the way in terms of economic growth. In all cases, though with key variations, there has been a reliance on exports and strong government leadership to reach the take-off stage of development. But with new, lower-cost markets emerging and heightened competition as economies around the world open up, the NIEs have had to move forward and adopt new strategies to maintain their stunning pace of growth.

There are soothsayers who warn that NIEs may have run out of steam: without technological resources and creative inputs from research and development, the miracle may be but a flash in the pan. Panelists in this roundtable discussion will discuss what the next steps are for the NIEs: are the days of glory over or are they still ahead? Can NIEs succeed in competition with new, more aggressive low-cost markets? As each economy strives to move ever higher up the economic ladder, will success be guaranteed without ready access to sophisticated technology, abundant capital, and skilled human resources and expertise? The consequences for businesses in these economies will be examined in this session.

Concurrent Roundtable Discussion: "Banking and Financial Services: Removing the Barriers"

In the Pacific region's banking and financial services industries many changes are occurring that are having a profound impact on various industries. Governments are deregulating the banking and financial services sectors, creating competition and expanded services. Will the liberalization of financial services, historically one of the most protected industries, keep pace with the liberalization of trade and investment that is rapidly occurring in the region?

Participants in this discussion session will address the positive and negative effects that freer and more open competition in the region is having on the cost of capital for business, and the expansion of services for consumers. The panelists will also discuss the implications of banking and financial deregulation on developing economies. What barriers are the largest impediments to economic growth in these industries, and which are the most rigid?

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Concurrent Roundtable Discussion: "Pressures of Population and Urbanization"

The Asia Pacific region contains more than one-half of the world's population and some of the fastest growing economies and urban areas in the world. It is the pressures of population and urbanization - and the resulting effects on infrastructure, the environment, labor markets, etc., that will severely challenge the continued economic growth and development in the region in the coming years.

Will the strains of a rapidly increasing population in the region influence the availability of resources in a way that impedes economic development? Does urbanization hurt the development of certain industries? What will be the negative impact of urbanization on the environment? Panelists in this session will discuss the implications of a regional population that is quickly growing larger and, in greater numbers, moving to cities and urban areas in search of economic prosperity. As more people move away from the countryside, will wealth and prosperity move with them?

Concurrent Roundtable Discussion: "Fueling Development: Energy Demands and Supply in the Pacific Region"
As Asia Pacific economies continue to sustain double or near double digit growth rates, the increasing demand for vital energy resources holds the potential to stop the "Pacific Miracle" from moving forward. Armed disputes between neighbors over potential oil reserves and other natural resources - such as between Ecuador and Peru or in the Spratly Islands -- highlight the need for honest discussion of energy demands and supply. Already, a scarcity of energy resources has forced many economies to become first time importers of oil and natural gas, and still others to rely more heavily on less efficient and more environmentally destructive materials.

Panelists in this discussion session will address how the region can avoid conflict and work toward mutual agreements on energy development rights, how to avoid the border disputes that often accompany these rights, and how businesses in the region can help resolve these conflicts. In addition, panelists will discuss potential problem areas with regard to the region's great energy demands, including the hazards of shipping high volumes of energy resources through busy or populated areas, and improving energy infrastructure and transportation links between resource rich economies and consumer economies.

Plenary Session: "Media Explosion in the Pacific: A Clash of Cultures"
The rapid expansion in all sectors of the media industry into the Pacific region has wide ranging implications for local cultures, languages, values, and ethics. Likewise, local customs and cultural sensitivities have a profound impact on the nature of media content. Where do perceptions of the role of the media diverge between eastern and western cultures? How can global media companies develop high quality programming, while tailoring it to local culture and government regulations?

In addition, participants will address how the industry will develop in the coming years with the convergence of information technology and multimedia services. How will technological advances effect the abilities of governments to control the flow of information and ideas to their people? Can free speech, the "right to know", or an unregulated flow of information result in cultural imperialism? What responsibility does the media have to its audience?

Plenary Session: "Technology and Business: Where are We Heading?"
The technology revolution that has occurred in the past twenty years is ongoing and is fundamentally changing the way in which businesses in the Pacific region operate and how we live our lives. This session explores the new technological advances that are in store for us in the twenty-first century, the opportunities they bring, and how they will change the way we do business.

Panelists will also address how new technologies will alter management styles and identify the skills necessary to obtain for success in tomorrow's job market. Has the information superhighway had a measurable impact on how the region does business? What opportunities and challenges can be found in this burgeoning field? The panel also looks at the risks associated with these changes and whether such technological advances need to be harmonized and regulated.

Concurrent Roundtable Discussion: "Telecommunications: A Cornerstone to Economic Development"
The steady pace of telecommunications liberalization in the region has resulted in new, faster, and more effective ways of communicating. In addition, telecommunications is perceived to be a strategic industry and is often protected within local markets. Do these protections enhance or hinder economic development?

Panelists in this discussion session will address the restrictions and limits that many economies place on foreign investment in local telecom companies, as well as state monopolies. How quickly can these economies modernize and "keep pace" without sacrificing control of this "strategic industry"?

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Concurrent Roundtable Discussion: "Striking a Balance in Foreign Direct Investment: Corporate Practicalities vs. Sustainable Development"

As would be expected from a region with a large number of dynamic developing economies, there are huge demands for increasing flows of private investment capital. Given the fundamental importance to governments of improving the standards of living of their people, this session will address the challenge of attracting investment capital in an increasingly competitive region. Can governments balance the domestic goals of attracting investment with the investor need to build profitable enterprises?

Discussants will look at the important issues of transparency, impartial treatment of domestic and foreign investors, and business legislation. They will also explore how host economies can improve their investment climates to attract more private capital. Are government incentives the best way to do this or do reduced investment regulations attract foreign investment just as well?

Concurrent Roundtable Discussion: "Progress and Protection: The Delicate Environmental Balancing Act"

The Asia Pacific is the most dynamic region on the planet. But rapid growth has its inevitable costs to the environment - pollution, deforestation, damage to nature and wildlife. The developing areas of the Pacific Basin, however, can avoid some of the serious mistakes of developed economies by looking at how to manage and protect their environment while still pushing ahead responsibly with industrialization. This means that both government and the business sector must take the necessary steps to ensure the safety, quality, and goodness of the air we breathe, the water we drink, the food we eat, and the land that provides livelihoods to millions.

Yet the goal of environmental protection must be balanced with the pressing needs of economic development that will improve people's lives and raise standards of living. Panelists in this session will assess how this crucial balance can be achieved, what the priorities should be, and how effectively environmental concerns can be met efficiently and at reasonable cost. Discussants will also look at what government's role should be, what the business sector can do, and what both government and business can accomplish together.

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Concurrent Session: "Free Agricultural Trade in the Region: A Bumpy Road Ahead?"

While there has been some consternation over whether or not agriculture should be included in the APEC commitments to free trade by 2010 and 2020, there was nevertheless a general consensus reached on overall trade liberalization during the APEC leaders' meetings in Osaka in 1995. There remains, however, real concern among some Pacific region economies that achieving free trade in agriculture remains only a dream in the minds of exporting and food-surplus economies.

While many experts continue to express concern over the world's ability to feed itself in the 21st century, others suggest that there remains much room for the world's food production capability to be improved to meet the foreseeable demand. Regardless, free trade in agriculture will remain inextricably linked to overall free trade and open markets and have dramatic impact on the growth and development of most economies in the region. In this session, a panel of experts will discuss the hurdles that must be overcome to achieve free trade in agriculture in the region and the impact that free trade in agriculture, or lack thereof, will have on overall growth and development in the Pacific region.

Concurrent Roundtable Discussion: "Human Resource Development: Keeping Up With Changing Requirements"

With more than half of the world's population, the Pacific region's most valuable resource is labor. This roundtable discussion will look at the role of governments and businesses in developing worker training and educational programs that meet the region's labor demands. Panelists will also discuss the issue of educational exchange in the region in order to better understand why there are uneven flows of students and workers across the Pacific.

Other important issues that will be addressed include the increasing need to re-train labor from a labor intensive to a skilled manufacturing and service base, while balancing the needs of development with the need to ensure labor rights. Can human resource development adequately fulfill the needs that economic growth in the region is creating?

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Special Keynote Address: "The Role of APEC in Regional Economic Development"

What are the economic and political implications of the accomplishments of the 1996 APEC summit in the Philippines? After eight years of discussions and work, has the business sector seen tangible benefits from APEC's efforts, and if so, what have they been? A government leader in APEC discusses these important questions.

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Special Keynote Address: "The Progress of the World Trade Organization"

The World Trade Organization (WTO) is now in its third year of existence. What have some of its accomplishments been so far? Is the WTO progressing as well as economies in the world had hoped? How will the WTO handle the sometimes exclusionary nature of regional trade agreements such as NAFTA and AFTA? Will China play a role? The Director General of the WTO addresses these questions and the future of the WTO in the coming years.

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Concurrent Roundtable Discussion: "Mekong Delta: Southeast Asia's New Frontier"

The Mekong Delta - with its large population and valuable natural resources - holds many opportunities for businesses in the twenty-first century. However, the challenges of this region are as great as the opportunities. As the Mekong Delta evolves into a subregional growth center, how will Cambodia, the Yunnan Province of China, Laos, Myanmar, Thailand, and Vietnam manage their competing interests? How to make opportunities available to all and minimize the chances of conflict in this sensitive region will be the focus of this session.

Some of the specific issues to be addressed include how the business sector can participate in the construction of much needed infrastructure; what sectors of each respective economy are the most receptive to outside investment; and how governments and businesses can cooperate to improve the investment climate in this sub-region. Also, discussants will address how investors in this developing area can minimize risk and optimize opportunity.

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Concurrent Roundtable Discussion: "Finding Common Ground: The Give and Take of Technology Transfer"

For developing countries and economies, technology transfer is essential in the transition from a labor intensive economy to a value added economy. Through joint venture and other projects, many technology-oriented companies have been willing to share information with developing economies and companies. As an economy develops technology, its market for products and services grows. However, given the high costs of research and development, as well as the core value of intellectual property, many foreign companies are still unwilling to share high technology without proper legal protection -- creating an obstacle to economic development.

This session will look at the issues of technology transfer. Discussants will address how the business sector can facilitate the smooth and secure transfer of technology to benefit all parties involved. Can a developing economy protect foreign intellectual property while using technology to raise the living standards of its citizens and create jobs?

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Concurrent Roundtable Discussion: "From Family to Professionals: Changing Corporate Management in the Pacific"

As economic integration continues to intensify, family-run businesses in the Pacific are adopting professional management techniques and international accounting standards. This session will address the pace at which this phenomenon is occurring and its impact on the region as a whole.

Panelists will discuss the specific elements of globalization that make the change away from a family-run business seem inevitable. Does this trend spell the end of the family-run businesses that are so much a part of the Pacific region's culture and values? What are the long-term ramifications of this trend for global businesses in the region, with competition expected to intensify?

Concurrent Roundtable Discussion: "From Highways to Ports: Integrating Infrastructure for the Pacific's Growth"

The Pacific's massive infrastructure needs continue to be an issue of great importance to many, as evidenced by the more than US$ one trillion that the World Bank says will be needed in the coming years in the region. This panel will focus on the innovative ways of meeting the strong demand for transport infrastructure, including the efforts to integrate transport systems - ports, airports, ferries, roads, and highways. What are the keys to planning and building a well-integrated infrastructure system?

Panelists will also explore what opportunities there are for business to cooperate with government in building infrastructure projects, even though in many developing economies foreign ownership of domestic infrastructure is a sensitive issue. What are the challenges involved with "Build-Operate-Transfer" (BOT) and "Build-Operate-Own" (BOO) projects in the region?

Plenary Session: "What Makes an Economy Competitive?"

With so many successful Asia Pacific economies, there are many opinions as to which political and economic policies are responsible for the competitiveness of the region's economies. Moreover, as economies move through different stages of development, the experiences of each can test the competitive will of governments and people - from a developing economy with an influx of migrant workers, to a developed economy that is losing business and investment to high costs. What economic policies are necessary for an economy to stay competitive in this dynamic region?

Panelists in this session will also explore the impact of various government philosophies -- from laissez faire to central control -- that encourage or discourage economic growth. Is there a case for protecting certain industries from outside competition in this new era of liberalization? Panelists will also address what roles culture, education, and population play in determining the competitiveness of an economy.

Plenary Session: "Asia Pacific and Latin America: Forging Ties"

Latin America's trade with Asia has been growing at a strong and steady pace in recent years, despite the traditional cultural and business ties that Latin America has with Europe and North America. What are the impediments to forging closer ties between the two sides of the Pacific? How and in what sectors are these two regions working together?

Panelists in this session will address what sectors of Latin American economies are attractive to Asian investment and vice versa. In addition, the panel will explore what Asian economies can offer to Latin American economies that is not already offered by their traditional trading partners. Will regional trade groupings such as AFTA, NAFTA, and the FTAA assist in bringing these two Pacific communities closer together?

Plenary Session: "Regional Security: A Requirement for Continued Economic Prosperity"

The economic boom that has characterized the past couple of decades in the Asia Pacific has been concurrent with a relatively peaceful time in the history of the region. While there continue to be areas of potential conflict, economic dynamism has been the defining trait of the Asia Pacific region in the latter half of the twentieth century.

Panelists in this session will address the uncertainties and challenges of the twenty-first century with regard to maintaining the peace in the Pacific - many of which come from the increasingly important links between economic development and security issues: the security of the region's shipping lanes as trade volume continues to rise; the growing demands on energy resources within and outside the region; territorial disputes arising from claims for natural resources; and the steadily growing arms markets in the region. This session will ask how the region can safeguard its peace while preserving its economic dynamism.

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Special Keynote Address: "Growth and Equity: Sharing the Fruits of Development with the Poor"

The economic miracle of the Asia Pacific, albeit very real, is not being enjoyed by everyone in the region. Despite the tremendous economic success of the region, a large part of its population still suffers from great poverty and continues to lead lives in which survival is a deadly struggle. The continued presence of poverty amidst the growing affluence of the region has put inequalities among social classes in stark contrast. Furthermore, the inequitable distribution of income has diminished the credibility of market-oriented economic reforms in the eyes of the poor, who have failed to benefit from such reforms. In this special keynote address, the issues of how "share the wealth" with the poor - and whose responsibility it is will be discussed.

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Special Keynote Address: "The Viewpoint of Small Pacific Economies"

In the Asia Pacific region, where economic growth and development of some of the largest economies in the world are the focus, the viewpoints and voice of the small Pacific and island economies is, for the most part, overlooked or ignored. Many of these economies are working hard to attract investment and capital. However, can these economies offer more to the region - and potential investors - than beautiful weather and tourism? What are the opportunities and challenges that these small economies, some with GNPs smaller than PBEC member companies, face in continuing to play a role in the economic development of the region? This special keynote session will address these issues.

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Plenary Session: "China: Moving Toward the Next Millennium"

As the Pacific region moves into the twenty-first century, the balance of power - economical, military, and political - will be fundamentally changed by the reemergence of China as a global player. What this means to Asia Pacific companies in business terms is not yet clearly understood. The purpose of this session is to outline the particular issues related to China's growing economic, military, and political status, and to explore how to ease China's transition to a full market economy and global economic power.

Panelists in this session will discuss China's recent trade liberalization efforts -- including China's participation in the WTO -- the impact of Hong Kong's reunification with the mainland, and the ongoing developments in the economic and political relationship between China and Taiwan. What are the obstacles to reunification and reconciliation?