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Working Committee on Services
Objectives:
The PBEC Working Committee on Services (established May 18, 1997) seeks to: Support Pacific Rim economic development and the expansion of globally competitive businesses in all Pacific Basin economies through the promotion of a broad range of high quality service products and suppliers in the transportation, telecommunications, financial, energy, and other service sectors. Promote improved risk management through education of supportive corporate governance models and through identification of security concerns through ADB and other regional fora. Expand understanding among regional businesses and governments on the positive economic and social effects of increased competition in services. Support the ongoing service liberalization and reform efforts in regional and global governmental organizations such as APEC, and the WTO through continued collaboration with government officials and through the development of timely and constructive policy statements in PBEC.
Accomplishments:
- Assessed and analyzed financial services in the region, developed and had adopted a series of PBEC recommendations advocating pro-competitive regulatory reform in the financial services sector. PBEC's work served as a foundation for liberalization efforts in the WTO and APEC, especially in light of the Asian financial crisis.
- Called for APEC action on air services liberalization in the region as essential for efficient and successful business operations by PBEC members and other companies in the Pacific Rim.
- Called for APEC negotiation of a telecommunications industry Mutual Recognition Agreement on equipment certification procedures. Agreement was concluded subsequently, thereby streamlining introduction of new telecom products in the region to the benefit of consumers and industry.
- Serves to coordinate business representative organization to ADB/OECD Conference on Anti-Corruption (in conjunction with PBEC Transparency WC).
- In 2001, PBEC advocated continued support of personnel mobility throughout the region though a regionally accepted statement.
Future Actions:
- Establish stronger links with ADB through workshop and training session on corporate governance at upcoming ADB/OECD Conference on Anti-Corruption, and through PBEC/ADB events in Washington, DC and San Francisco.
- Undertake evaluation and assessment of security risks in region, including but not limited to cybersecurity, transportation, and issues other service-related sectors.
- Continue to advocate on behalf of industry to communicate the necessity of liberalization measures in the WTO and APEC, as well as developing a long-term work plan for regulatory reform in the region.
Leadership:
Committee Chair:
Dean O'Hare
Chairman & CEO
Chubb Corporation (PBEC US)
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