CHAIRMAN OF THE
ASIA-PACIFIC’S MOST SENIOR BUSINESS ORGANIZATION EXPRESSES CONFIDENCE IN INDONESIA
Santiago, May 24, 1998 — As the leading business executives from
throughout the Asia-Pacific region begin to gather in Santiago, Chile, for the annual
meeting of the Pacific Basin Economic Council (PBEC), the Chairman of that organization
has expressed confidence in the prospects for recovery throughout Asia, provided the
needed reforms are undertaken, and specifically offered encouraging words on Indonesia.
Motorola Chairman Gary L. Tooker, Chairmen of PBEC, an association of senior business
leaders representing more than 1,100 major corporations in 20 economies around the
Pacific, said today: “Indonesia is an important part of the world economy, and an
active and valued member of the PBEC family. The recent turmoil and hardships endured by
Indonesia has concerned us all. Events are continuing to unfold rapidly, and so it’s
simply too early to tell what ultimately will transpire. We’re hopeful that this
difficult transition will yield the reforms needed to end the turmoil, and bring stability
for the people. Our confidence in the long term prosperity and stability of Indonesia and
the rest of Asia is firm, and our thoughts and best wishes go out to the people of that
great nation.”
PBEC’s International General Meeting (IGM) brings together the region’s foremost
corporate executives with other international leaders to discuss in a frank and intimate
setting, the key issues in the regional economy, and to publicly issue policy
recommendations and statements. The IGM includes major addresses given by heads of
government, governmental ministers, leaders of prominent international organizations, and
senior executives of some of the largest corporations in the region. Chilean President
Frei will be delivering the opening address at this year’s IGM, which will be held
May 25-27th at the Sheraton San Cristobal in Santiago, Chile.
Among the other prominent participants addressing PBEC will be U.S. Secretary of Defense
William Cohen, who will be speaking on “Peace and Stability: the Cornerstone of
Prosperity”. Chairman Tooker commented, “The timing of Secretary Cohen’s
address could not be better. As events continue to unfold in Indonesia, the insights and
observations of the U.S. Secretary of Defense should prove to be invaluable for our
delegates and guests.”
PBEC member corporations account for more than US$ 4 trillion in global sales and employ
more than 10 million people. The unprecedented scope of PBEC’s membership constitutes
a broad and balanced reservoir of international business knowledge, unmatched in
credibility and expertise. PBEC recently celebrated its 30th anniversary, making it the
Asia-Pacific’s most senior business organization. PBEC is truly the voice of business
in the Pacific.
Contact:
Stephen Olson
PBEC International Secretariat
900 Fort Street, Suite 1080
Honolulu, Hawaii 96813 USA
Tel. 521-9044 ext. 17
Fax.521-8530
E-mail: steve@pbec.org
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