ASIA PACIFIC BUSINESS LEADERS VOICE STRONG SUPPORT FOR TELECOMMUNICATIONS
LIBERALIZATION AND INVESTMENT
Santiago, May 24, 1998 - Today, the Pacific Basin Economic Council (PBEC), an association
of senior business leaders representing more than 1,100 major corporations in 20 economies
around the Pacific, urged regional governments to further liberalize telecommunications
markets and take measures to increase investment in regional telecommunications
infrastructure.
As the preeminent regional business organization representing both consumers and providers
of telecommunications services, PBEC recognized the importance of continued telecom
liberalization to regional competitiveness and growth. PBEC called on regional governments
to fully open their markets to increase competition, reduce costs for consumers, and
provide more and better services.
PBEC spoke out strongly in favor of eliminating restrictions on foreign investment in the
industry, and urged reform in the international telecommunications settlements process so
that the price of calling can be reduced.
The Pacific Basin is becoming the primary venue for the incredible developments that are
unfolding on a daily basis. Surging economic development, expanded trade, unparalleled
business investment and leading edge technology are all behind a growing demand for
telecommunications products and services that is taxing the limits of the existing
infrastructure.
As a means for addressing the growing demand for telecommunications services, PBEC
encouraged all countries in the region to open their markets fully, and for WTO members
with existing offers to support the GATS agreement by implementing their commitments in a
timely manner while simultaneously enacting all of the regulatory principles outlined in
the Reference Paper.
PBEC is gathering this week in Santiago, Chile at its annual International General Meeting
(IGM). The IGM is an opportunity for the region’s foremost corporate executives to
gather 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 typically includes major addresses given by heads of government,
government ministers, leaders of prominent international organizations, and senior
executives of some of the largest corporations of the region.
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 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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