PACIFIC BASIN ECONOMIC COUNCIL
MAIN PAGE | SPEECHES & EDITORIALS | 1999 | ADDRESS BY SULTAN HAJI HASSANAL BOLKIAH

APEC — Toward the Common Goal of Shared Prosperity His Majesty Sultan Haji Hassanal Bolkiah Sultan and Yang Di-pertuan of Brunei Darussalam APEC CEO Summit Auckland, New Zealand Sunday, September 12, 1999 Thank you Mr McKinnon for the kind words. Mr Maasland, Chairman of the CEO Summit, Your Excellencies, Ladies and gentlemen. It is a priviledge for me to be able to address you, some of the most distinguished figures in business, trade and industry. I much appreciate this kind gesture by the organisers of the CEO Summit and I am delighted to have the chance to share my thoughts with you on the APEC process. The theme of your session today "APEC - Toward the Common Goal of Shared Prosperity" is one which we identify with. "Sharing" reflects our belief in mutual understanding appreciation of each other's needs, values and aspirations. Although we come from different backgrounds, different traditions and are at different stages of development, we need to work together. This is something, we as a nation, do our best in fostering friendship and cooperation. In our different ways, all of us are working to enhance the lives of our people. We take on the practical tasks demanded of us by those we serve, be they the citizens we represent as political leaders, or the shareholders, investors and employees you work with as leaders of business. More importantly, we are contributing to the creation of an international environment in which all our peoples can live in peace and security, share prosperity and plan for a better future for their families and communities. Ladies and gentlemen, when the APEC Leaders met in Kuala Lumpur last November, Asia was in the midst of a financial crisis. Since then, most Asian economies have shown signs of recovery. However, we continue to face considerable challenges. In my view, the key to our work remains the creation of confidence. I believe the most important contribution we can all make to this is to convince our people that the different sectors we represent are all working together in their interests. And I welcome opportunities such as this for us to consult one another and learn how best we can work together to strengthen the foundations for sustained growth in the Asia Pacific Region. We greatly admire your achievements in your respective fields. We in government need to tap your experience, your insights and your imaginations. Ladies and gentlemen, the gulf in research and innovations between the developing and industrialised economies is wide and increasing. It is in all our interests that this gulf does not become so wide that it splits the world into two opposing economic camps. The crucial first step towards avoiding this is for us to urgently narrow any gap which may still exist between and within economies. If I may explain. The majority of our businesses in developing nation are extremely modest enterprises when contrasted with giant multinational companies. This is where I see APEC playing a crucial role. With its three pillars of liberalisation, facilitation and cooperation, APEC can definitely help to bridge this gap. We seek your advice on how we can work together to liberalise trade, promote investment and generally create a business-friendly environment. Are we all on the right track? Is there more that we, or you, should be doing? These are the kinds of questions we can answer by working together. Ladies and gentlemen, next year, Brunei Darussalam will have the honour of chairing the annual summit meeting of APEC Leaders. It will be a great challenge for us. APEC 2000 will be the most important gathering we have ever hosted. We are conscious of our responsibilities as host of the first APEC Summit in the new millennium and will do our best to ensure its success. Although we are one of the smallest regional economies, we see the meeting as our chance to contribute to the APEC process. New Zealand, historically one of the world's leaders in balancing the interests of private enterprise to public welfare, has devoted much of its term as chairman to developing this aspect of the APEC process. We in Brunei Darussalam are resolved to continue New Zealand's good work. In particular, APEC 2000 will be forward looking and reflect the preoccupation of the region as we enter an increasingly globalised economic environment. We will be paying particular attention to three specific areas - small and medium enterprises, human resources development and information and communication technology. And we will carry on with the work to strengthen APEC's solid practical basis and all the foundations for sustained growth. We are conscious of the need to come up with sound, practical programmes. We realise they must merit your consideration as business leaders for whom time is at a premium. At the same time, however, as one of the smaller, still developing economies, we hope we can also offer you a unique chance of sharing our own experience. Ladies and gentlemen, in concluding, I would like to take this opportunity to invite you to visit Brunei Darussalam. I believe that the best way to find out more about what we really have to offer is for you to come and visit us. I look forward to receiving you next year. It will be an honour for us and I can assure you of a most warm and hospitable welcome. Thank you. Wabillahi Taufeq Wal-Hidayah, Wassalamu 'Alaikum Warahmatullahi Wabarakatuh.