PACIFIC BASIN ECONOMIC COUNCIL
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Additional Info: Policy Statements Photos Speakers & Noted Participants Featured Biographies Media Information Regional Vitality in the 21st Century April 6-10, 2001 — Tokyo, Japan The Pacific Basin Economic Council held its 34th International General Meeting in Tokyo, Japan from April 6 - 10, 2001, under the theme "Regional Vitality in the 21st Century." More than 800 delegates from throughout the Asia Pacific gathered in the Le Meridien Grand Pacific and Hotel Nikko Tokyo and participated in a series of plenary sessions and roundtable discussions with the region's top government and business leaders. Their Imperial Highnesses the Crown Prince and Princess attended the Opening Plenary Session. This was the first time that members of the Royal Family honored PBEC by their presence. His Imperial Highness the Crown Prince expressed appreciation for the great contribution the business community in the Asia Pacific region has made to the development and prosperity of the region and expressed his expectation that the private sector will continue to make efforts for building even more vitality in the region. The opening message was delivered by Japanese Prime Minister Yoshiro Mori, who told delegates that "the human network" PBEC has developed in the business community will form the foundation of the region's future prosperity. He expressed the hope that developing close relationships in the Asia Pacific community would create an "Asia Pacific Civilization". Korean President Kim Dae-Jung addressed delegates by video and stressed the role of the business community as a catalyst of sustainable growth. In the Asia Pacific Leaders Forum, former Philippine President Fidel V. Ramos stated that globalization has had a positive impact, but governments have a responsibility to protect vulnerable communities from its negative effects and to deliver social services. Korean Deputy Prime Minister and Minister of Finance and Economy Jin Nyum indicated that the business climate in South Korea showed considerable progress in the last three years. Through rigorous structural reform and a turn in policy on trade and investment, South Korea emerged from the 1997 financial crisis as a more competitive and transparent economy. Malaysian Minister of International Trade and Industry Dato' Seri Rafidah Aziz singled out the "China factor" as a key issue for other Asia-Pacific nations, urging the need for them to embrace the nation she predicted would become the region's main global player. Iwao Matsuda, Japan's Senior Vice Minister of Economy, Trade and Industry, came out strongly in favor of an early launch of the next round of WTO negotiations. During the IGM, PBEC leaders and guests discussed a variety of other important issues. These included Global Economic Issues and the Pursuit of Sustainable Growth and Regional Vitality, Meeting Today's Management Challenges: Transparency, Environmentalism, and Corporate Responsibility, Electronic Commerce, Strategic Reorganization of Global Industries, and Revitalizing the Asian Economies. The Honorable Taro Aso, Japanese Minister of State for Economic and Fiscal Policy, highlighted the real economic reform which is taking place today in Japan, and which is laying the groundwork for a future of strong growth. A focal point of the meeting was the presentation of the 3rd annual PBEC Environmental Award to: Osaka Gas Co. Ltd. (Gold), Ford Motor Company (Silver), Honda Motor (Bronze), and Samsung Electronics (Honorable Mention). Finalists included General Motors China, New Zealand Dairy Board, Hansol Paper, and Placer Dome, Inc. The PBEC Environmental Award honors PBEC member companies that have made particularly outstanding contributions to global environmental protection. Presentation of the award reflects PBEC's commitment to promoting environmentally responsible business practices. By honoring these companies, PBEC hopes that their achievements will become broadly recognized by the international community, and will serve as a model for others. At the meeting, PBEC's Steering Committee and Board of Directors adopted policy statements on a number of key policy areas, including the environment, e-business, financial services, the WTO, and food safety. In the Statement on Environmental Issues, PBEC reaffirmed the importance of environmental protection and improvement as a means towards sustainable development, and outlined our resolution to take voluntary actions to promote greater environmentalism. In the Statement on Facilitating SMEs in the Global Marketplace, PBEC encourages government to engage business in the e-business transformation of SMEs. In the Statement on Financial Services Regulation, PBEC urged greater commitments to market access and regulatory reform in financial services. PBEC urged that the agenda reflect the views of both the developed and developing economies, and reiterated its support for the launch of a new round of WTO negotiations, in the Statement in Support of a Balanced WTO Agenda. In the Statement on Food Safety, PBEC recognized the importance of an open food system, and strongly recommended that each member economy ban practices which could lead to the spread of mad cow disease. The closing keynote address was delivered by Dr. Eisuke Sakakibara who spoke on the new globalization and the need for strategic alliances. At the Board of Directors meeting, Singapore was accepted as a full member, and the Board expressed its pleasure at having Singapore aboard. Mr. Kosaku Inaba, Chairman & CEO of Ishikawajima-Harima Heavy Industries Co., Ltd., was re-elected PBEC Chairman. Dr. Helmut Sohmen, Chairman of World-Wide Shipping Agency Ltd., was re-elected PBEC's Chairman Emeritus. Mr. S.R. Cho, Chairman of Hyosung Corporation, was re-elected as PBEC's Vice Chairman. Mr. Javier Prieto, Vice President, External Affairs, Cementos Mexicanos, was re-elected as the other PBEC Vice Chairman, and Mr. Kenneth Matchett, Chief Executive Officer, XCAN Grain Pool Ltd., was re-elected PBEC Treasurer. PBEC expressed its sincere appreciation to the Tokyo IGM Organizers for hosting a highly successful meeting.