PBEC welcomes both Peter Burnett OBE, BBS Managing Director of Standard Chartered Bank Hong Kong Limited and Mary Simpson Director of International Member Engagement at ICAEW to its board of directors. Both were formally elected by majority vote at the recently held hybrid PBEC AGM 2023 attended by over 60 members from across APAC. Peter is the immediate past Chair of Britcham HK one of the largest and most professionally run chambers anywhere in the world and is a key…
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Ministers of Chile, New Zealand, and Singapore, Parties of the Digital Economy Partnership Agreement (DEPA), and the Republic of Korea (ROK) met on the sidelines of the OECD Ministerial Council Meeting in Paris, France, on 8 June 2023. The Ministers welcomed the substantial conclusion of discussions on the ROK’s accession to the DEPA. Accession of the ROK to the DEPA The DEPA Parties are delighted that discussions for the ROK to accede to this world-leading agreement have substantially concluded, making…
INCHEON, REPUBLIC OF KOREA (2 May 2023) — PBEC’s longest strategic partner, The Asian Development Bank (ADB) today announced the Innovative Finance Facility for Climate in Asia and the Pacific (IF-CAP), a landmark program which could significantly ramp up support for the region in the battle against climate change. The announcement was made by ADB President Masatsugu Asakawa on the opening day of ADB’s 56th Annual Meeting in Incheon. “Climate change is the critical issue of our lifetime and here…
Brunei, Bandar Seri Begawan, 30 April 2023 – APEC Business Advisory Council (ABAC) members this week urged APEC Trade Ministers to leverage the challenges facing the region, including environmental risks, financial stress and the cost-of-living crisis, as opportunities to firmly place the region on a new path of economic inclusion, resilience, and sustainability. Separate letters to APEC trade ministers and transportation ministers and statements on the WTO and the Free Trade Area of the Asia-Pacific capture ABAC’s views. 2023 ABAC…
Dear PBEC Community, I am pleased to share my initial reaction and thoughts to our wonderful PBEC delegation trip to the Philippines on 19-20th April 2023 in Manila held at New World Makati Hotel, and our subsequent economic estate official visit to LIMA Technology Center, in Lipa Batangas City- by ABOITIZ INFRACAPITAL Inc. The welcome and feedback we received from the PBEC delegates themselves, the official speakers and Government representatives from across APAC proved nothing quite beats meeting people face to face…
APEC NEWS RELEASE Issued by The APEC Business Advisory Council (ABAC) Auckland, 14 February 2023 – Members of the APEC Business Advisory Council (ABAC) met in Auckland, New Zealand this week to develop a work plan that calls on policymakers to leverage trade and economic policies to address the region’s sustainability and economic inclusion challenges. 2023 ABAC Chair Dominic Ng noted, “APEC members need to undertake massive decarbonization of their economies while ensuring that disadvantaged parts of our communities are not…
Suzuran Medical Inc. started the manufacture and sale of cotton bedding over 180 years a go, the company has always dealt with cotton. Using this natural fiber as a base, Suzuran are pushing forward with research into cotton to help assist in humanity’s bright future. Expanding from its unique experience with such products in the medical world, they have taken the same dedication to customer benefits into their baby, hygiene, and cosmetic products. Suzuran Medical’s President is Yasuhiro Kunieda, born…
Author: Patrick Low Senior Fellow – Asia Global Institute It has become fashionable to argue that globalization is in decline. The picture is more nuanced, however. While trade in manufactures as a proportion of overall economic activity appears to have peaked in some countries, the growth of trade in services as a proportion of GDP has certainly not slowed. The future of services trade in global value chains A recent series of papers by Richard Baldwin argued that globalization and…
Under the theme “Creating a Resilient and Sustainable Future for All,” USA Chairing APEC2023 plan to build a more interconnected, innovative, and inclusive APEC region. Through its APEC 2023 host year, the USA seek to further U.S. economic engagement with the region. Regular exchanges among governments, business leaders – including through the APEC Business Advisory Council (ABAC) – and other stakeholders such as PECC and PBEC are critical to ensuring that APEC is delivering pragmatic solutions to the key challenges facing U.S. workers and…
PBEC CEO Michael Walsh took the opportunity to visit some of the PBEC members in HCMC and Hanoi on his recent trip to Vietnam over the Chinese & Tet New Year 2023. “I had the chance to sit down with KPMG Chairman and CEO Warrick Cleine of Vietnam and Cambodia at their office in HCMC. It was lovely to have this opportunity to sit down together and share each others views on the hot issues and areas of focus for…