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16 July 2010 - APEC Launches New Cross-border Data Privacy Initiative
12 July 2010 - ABAC's Protectionism Monitoring Exercise - Request for Feedback
1 July 2010 - APEC Launches New Statistical Database
1 July 2010 - Establishment of APEC SME Crisis Management Centre
19 June 2010 - APEC Energy Ministers give instructions on energy security and efficiency
11 June 2010 - Stimulating employment by SMEs
6 June 2010 - APEC Trade Ministers issue Statements on concluding Doha and securing economic growth
6 June 2010 - APEC helps business take advantage of FTAs
3 June 2010 - Seamless transport could increase trade by billions
3 June 2010 - APEC Trade Ministers review progress on free trade
1 June 2010 - Businesses have 5 recommendations for APEC Trade Ministers
29 May 2010 - Russia joins the APEC Business Travel Card Scheme
27 May 2010 - Businesses call for measures to address energy security in APEC
21 May 2010 - Business Seeks New Vision For Economic Integration In APEC
6 May 2010 - Economic growth, sustainability on-going priorities for Tourism Working Group
5 May 2010 - Solicitation of Interest to Participate in Pilot APEC Tariff Database Project
20 April 2010 - Launch of APEC CEO Summit 2009 Special Report
24 March 2010 - Survey on Supply Chain Chokepoints in the Asia Pacific Region
3 March 2010 - Small reforms make big sense
23 February 2010 - The first APEC Senior Officials' Meeting (SOM1) in Hiroshima, Japan
19 February 2010 - Market integration key to recovery
12 February 2010 - APEC Business Leaders Focus On Solidifying Long Term Growth
5 January 2010 - Survey on Trade Restrictive Measures Within APEC
16 July 2010
APEC Launches New Cross-border Data Privacy Initiative
Issued by the APEC Secretariat
Singapore – Recognising that trusted flows of information are essential to doing business in the global economy, APEC has today launched a mechanism for regional cooperation on data privacy law enforcement.
The new APEC Cross-border Privacy Enforcement Arrangement (CPEA) facilitates information sharing and cooperation between authorities responsible for data and consumer protection in the APEC region.
“The CPEA is groundbreaking,” said Colin Minihan, Chair of the Data Privacy Subgroup of APEC’s Electronic Commerce Steering Group. “It demonstrates that privacy enforcement authorities are engaging with the realities of global data flows and the associated risks of privacy violations that transcend national and jurisdictional boundaries. The CPEA reflects the commitment of APEC privacy and consumer protection authorities to work together and across borders in enforcing consumer privacy protections.”
The arrangement establishes a process under which participating authorities may contact each other for help with collecting evidence, sharing information on an organisation or matter being investigated, enforcing actions, and transferring complaints to another jurisdiction.
Privacy Commissioner of Canada, Jennifer Stoddart, said the CPEA is an important step forward in addressing new challenges for privacy in a globalised, online world. “This will help us deal with privacy concerns relating to organisations that operate in multiple jurisdictions and businesses that move personal information across borders for processing. These are increasingly common phenomena in the economy of the 21st century and we need 21st century tools to address them.”
The CPEA also encourages cooperation between privacy enforcement authorities in APEC and their international, non-APEC counterparts as the arrangement has been designed to work seamlessly with other regional and global schemes.
By providing a mechanism to help investigate and enforce privacy laws across borders, the CPEA will promote consumer trust in e-commerce which, in turn, will benefit business and trade in the Asia-Pacific. Thus, the CPEA is a key step in APEC's long-standing efforts to increase e-commerce and cross-border trade in the region.
The CPEA was developed by a volunteer group of APEC member economies - Australia, Canada, Hong Kong China, Japan, New Zealand, the Philippines, Chinese Taipei and the United States - with input from civil society and business groups. Initial participants in the CPEA are the Office of the Privacy Commissioner of Australia, the Office of the Privacy Commissioner of New Zealand and the United States Federal Trade Commission. Additional privacy enforcement authorities from APEC member economies are also expected to join.
For a Factsheet on the CPEA see: www.apec.org/apec/news___media/fact_sheets/201006cpea.html
For more information, Please contact:
media@apec.org
12 July 2010
ABAC’s Protectionism Monitoring Exercise – Request for Feedback
Following the “Survey on Trade Restrictive Measures within APEC” carried out in the First Quarter of 2010 , the APEC Business Advisory Council (ABAC) is conducting a second round of the survey for this year.
This twice-yearly monitoring exercise is part of ABAC’s continuous effort to resist protectionism by reporting on any negative business impacts which have been encountered by companies as a result of the trade restrictive measures imposed by governments.
Companies may refer to the “WTO’s Report to the Trade Policy Review Body” ,for recent updates on the general global trade environment for the period November 2009 to May 2010. Of particular interest to companies would be the list of Trade and Trade-related measures in Annex I of the report on pages 55-85.
We would like to invite companies to report on the impacts of the measures that are described in the WTO report or in any other source documents of which you are aware of. Kindly respond to us by providing your comments in the template below.
We would appreciate if you could send us your comments by 6 August 2010, to the email address: abacsg@sbf.org.sg
Please feel free to email abacsg@sbf.org.sg or call 6827 6869 if your have further queries.
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S/N
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Implementing economy
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Trade or other measure
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Reference
(WTO or other)
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Comment on impact
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E.g
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United States
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Resumption of dairy export subsidies (Dairy Export Incentive Programme, DEIP)
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UDSA announcement of 22 May 2009
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Provides export subsidies on 92,362T of US dairy products (in response to similar EU measures announced 22 January). Reduces cost of US dairy exports under subsidy; results in lost opportunities for unsubsidised competition; lowers global dairy prices to detriment of all supplier; invites retaliatory action from EU (further DEIP announcement before end June).
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1 July 2010
APEC Launches New Statistical Database
The Asia Pacific Economic Cooperation (APEC) has launched a new statistical database - StatsAPEC, developed by the APEC Policy Support Unit. StatsAPEC provides the only consolidated source of APEC-specific data dating back to APEC’s inception in 1989. The website in now functioning and can be accessed at http://statistics.apec.org/.
StatsAPEC is made up of two databases:
The Key Indicators Database
The Bilateral Linkages Database
The Key Indicators Database includes over 120 trade, financial and socio-economic indicators, allowing for detailed analysis of trends in the APEC region. The Bilateral Linkages Database facilitates detailed analysis of trade and investment flows within APEC and between APEC and the world. Also, APEC aggregates are available for a broad range of indicators, making it easy to examine the region as a whole. APEC aggregates are a feature unique to StatsAPEC. All data can be exported to Microsoft Excel for further analysis.
For the first time, officials, researchers, students and the public at large in APEC economies will have cost-free access to an extensive database of APEC statistics. APEC hopes that this will enable them to learn more about the Asia-Pacific region. They also hope that StatsAPEC will be a useful a basis for officials in crafting briefing notes, undertaking research and developing policy.
If you have any questions or comments about StatsAPEC, you can provide comments using this link.
1 July 2010
Establishment of APEC SME Crisis Management Centre
The Singapore Business Federation (SBF) and ABAC Singapore Secretariat are pleased to inform about the establishment of the APEC SME Crisis Management Center (SCMC) and its associated activities.
The SCMC was created on 24 May 2010 to enhance the crisis management capabilities of SMEs in the Asia-Pacific region. Recently, the SCMC organized an expert team to monitor crisis and risk that may generate impacts on SME development. Starting from July 2010, the result of the monitoring will be published monthly on the “APEC SME Economic Crisis Monitor” in a form of newsletter for SMEs in the Asia-Pacific region. The Monitor contains the information that assist SMEs in identifying crisis in the earliest manner; overcoming the impacts of global economic challenges; and offering suggestions for response measures. It is open to subscription now at the website www.apecscmc.org
In 2009, Singapore held the APEC chairmanship and central to its agenda was an emphasis on inclusive and sustained growth. SBF, as Singapore’s national focal point for Business Continuity Management and the national secretariat for the APEC Business Advisory Council (ABAC), support any SME capacity building efforts as an important pillar for economies to achieve continuous growth and prosperity. SBF and ABAC Singapore believe that the “APEC Economic Crisis Monitor” is an effective and extremely timely initiative that will be beneficial to the members of the local business community.
Please visit the following websites to find out more:
SBF National BCM Programme- Click Here
APEC SME Crisis Management Centre - www.apecscmc.org
To Download the APEC Economic Crisis Monitor Flyer - Click Here
19 June 2010
APEC Energy Ministers give instructions on energy security and efficiency
Issued by the APEC Secretariat
Fukui, Japan, 19 June 2010 – In a Declaration issued today, APEC’s Energy Ministers have set down directions to advance energy security, improve energy efficiency and increase the clean energy supply in the APEC region.
New initiatives prescribed by the Energy Ministers include:
- a Collaborative Assessment of Standards and Testing (CAST) scheme to boost trade and investment in energy efficient appliances;
- a Nuclear Power Emissions Reduction Potential Study to assess the potential for nuclear power to reduce carbon emissions in interested APEC economies;
- an APEC Smart Grid Initiative to evaluate the potential of smart grids to support the integration of intermittent renewable energies and energy management approaches in buildings and industry; and
- the Low Carbon Model Town Project aimed at developing best practices to achieve low-emissions urban communities.
Additional tasks have been assigned to APEC’s Energy Working Group (EWG) including: to work with the International Energy Agency to improve the region’s oil and gas energy emergency response capacity; to contribute to initiatives that reduce energy commodity market volatility; to evaluate the potential of unconventional sources of natural gas and biofuels; and to promote the development and take-up of low-emission power sources (renewable, nuclear and fossil-fuels with carbon capture and sequestration)
Ministers have further instructed the EWG to recommend a larger energy intensity reduction target for the APEC region, given that the goal set in 2007 of a 25 percent reduction by 2030 is likely to be far surpassed.
The Declaration also reiterates APEC’s commitment to rationalising and phasing out inefficient fossil fuel subsidies that encourage wasteful consumption.
The full text of the Fukui Declaration on Low Carbon Paths to Energy Security: Cooperative Energy Solutions for a Sustainable APEC issued at the conclusion of the Ninth Meeting of APEC Energy Ministers may be accessed at:
For more information, Please contact:
media@apec.org
11 June 2010
Hong Kong, China, 11 June 2010 - Making it easier for SMEs to hire workers is key to regional economic development. This was the rationale for the "Employing Workers Seminar" held by APEC's Small and Medium Enterprises Working Group (SMEWG) in Hong Kong, China this week.
As SMEs are important drivers of regional growth, "There is a need to strike a balance between ensuring that SME employers are not overburdened by regulations, and ensuring that employees are protected", says Barry Jones, seminar organiser and Head of Division at Australia's Department of Innovation, Industry, Science and Research.
The event, targeted at the region's policy-makers, is the seventh in a series of capacity building seminars aimed at helping APEC economies improve their competitiveness based on the World Bank's 'Ease of Doing Business' indicators.
Peru was presented as a case study for other APEC members to consider as its ranking under the 'employing workers' indicator has climbed 49 places between 2009 and 2010.
In recent years Peru has undertaken labour reforms including modifying taxation and superannuation arrangements to reduce the cost of doing business and the cost and complexity of employing workers. Progress in these areas has in turn contributed to improvements in economic performance. Since 2007, Peru experienced an average growth rate of nine percent, the highest of any Latin American economy.
"To achieve such improvements, APEC economies need to learn from each other's experiences and to find out which approaches work and which don't, and to keep on striving towards best practice," says Jones. Jones believes APEC is particularly suited for this task because it provides the platform for a wide range of economies with different circumstances and stages of development to come together to share lessons learnt.
In APEC, SMEs account for around 90 percent of all business and employ as much as 60 percent of the region's work force. The SMEWG continues to encourage the development of SMEs and to build their capacity to engage in international trade.
For more information, Please contact:
media@apec.org
6 June 2010
APEC Trade Ministers issue Statements on concluding Doha and securing economic growth
Issued by APEC Secretariat
Sapporo, Japan, 6 June 2010 - In a Statement issued today, at the close of two-day talks, APEC Ministers Responsible for Trade address:
The state of the global economy
Members' progress in achieving APEC's Bogor Goals of free and open trade
Advancing regional economic integration, including exploring possible pathways to a Free Trade Area of the Asia Pacific
Formulating a growth strategy for the region that achieves balanced, inclusive, sustainable, innovative and secure growth
Promoting human security to ensure resilient and secure economies
The Meeting of APEC Ministers Responsible for Trade, Statement of the Chair (Sapporo, Japan, 5 - 6 June 2010) may be accessed at:
The Ministers have also issued a separate Statement extending APEC's standstill on protectionism until 2011, and expressing members' commitment to the multilateral trading system and their determination to bring the Doha Development Agenda to a successful conclusion.
The Statement on Supporting the Multilateral Trading System and Resisting Protectionism (Sapporo, Japan, 5 - 6 June 2010) may be accessed at:
For more information contact:
Linda Carroll at lac@apec.org or +65 9647 4847
6 June 2010
APEC helps business take advantage of FTAs
Issued by APEC Secretariat
Sapporo, 6 June 2010 – APEC has today launched a new gateway to tariff and rules of origin information to help alleviate the ‘noodle bowl’ effect created by free trade agreements.
APEC’s 21 members account for around 44 percent of world trade, and have concluded over 40 intra-APEC free trade agreements (FTAs); however businesses often don’t take full advantage of these special trading arrangements because information on preferential tariffs and rules of origin (ROO) can be difficult to find.
“Business has told us that a lack of customs transparency is a major impediment to trade. APEC’s new web-based gateway helps lift this barrier by providing businesses with the information they need to better leverage the trade opportunities that exist in the region”, says Dr. Akihiko Tamura, Convenor of APEC’s Market Access Group.
The information now available includes current MFN tariff rates, preferential tariff rates and preferential ROOs in APEC member economies’ FTAs and regional trade agreements.
Says Dr. Tamura, “This initiative is an example of how information sharing in APEC and being responsive to the practical needs of business can help grow trade and prosperity in the Asia-Pacific”.
Since APEC was established, member economies’ total trade has increased six-fold, from US$3 trillion in 1989 to US$17 trillion in 2008 .
The gateway can be found at:
For more information, Please contact:
media@apec.org
APEC's 21 member economies are: Australia; Brunei Darussalam; Canada; Chile; People's Republic of China; Hong Kong, China; Indonesia; Japan; Republic of Korea; Malaysia; Mexico; New Zealand; Papua New Guinea; Peru; The Republic of the Philippines; The Russian Federation; Singapore; Chinese Taipei; Thailand;
Viet Nam;United States of America;
3 June 2010
Seamless transport could increase trade by billions
Issued by the APEC Secretariat
Sapporo, Japan, 3 June 2010 - Improving overall multimodal performance would increase intra- and extra-regional trade up to $500bn annually, says a report* exploring the potential impact of enhanced multimodal connectivity in APEC.
The report comes in the run-up to a meeting of APEC Trade Ministers this weekend and draws from analysis of air, land, and maritime transport, as well as logistics performance, to capture an economy's ability to manage complex multimodal linkages.
According to the report, while individual transport modes are important, making them work together through an efficient logistics system is even more important. Moreover, while the benefits of transport efficiency would be most visible in consumer goods, every sector performs better in direct relation to transport connectivity and efficiency.
The report therefore recommends that:
Investment in trade- and transport-related infrastructure development and maintenance should remain a priority for APEC member economies. Regional or sub-regional collaboration may be appropriate.
Regulatory reform based on cost-benefit analysis can help increase connectivity and improve the quality of service provision in vital areas, such as transport logistics.
The private sector should be engaged as a partner in infrastructure development and regulatory reform. Development of private sector competence in areas such as logistics should remain a key priority for member economies.
According to Dr. Ben Shepherd, lead author of the report, these observations are particularly important for developing member economies. Achieving the right balance between infrastructure investment, maintenance, and private logistics sector development remains crucial to enhancing overall competitiveness and boosting trade performance. Moving forward on all fronts simultaneously is likely to bring the greatest rewards.
The study was commissioned by APEC's Committee on Trade and Investment which is tackling chokepoints in the regional supply chain. It was undertaken by the APEC Policy Support Unit which conducts research and analysis to better inform policy-makers. To access the entire report, go to :
For more information, contact:
media@apec.org
*The Economic Impact of Enhanced Multimodal Connectivity in the APEC Region, APEC Policy Support Unit, June 2010
3 June 2010
APEC Trade Ministers review progress on free trade
Singapore, 3 June 2010 – APEC Trade Ministers are set to review members’ progress in achieving regional free trade goals; and will receive an update on global trade negotiations from the World Trade Organisation’s Director-General, Mr Pascal Lamy.
The meeting of Asia-Pacific Trade Ministers will be held in Sapporo, Japan on 5-6 June and will conclude with a press conference on 6 June.
In 1994 APEC set the ‘Bogor Goals’ of free and open trade and investment by 2010 for industrialised members and by 2020 for developing members. Trade Ministers will now discuss members’ progress based on an interim assessment report which combines input from: member economies, the APEC Business Advisory Council and relevant international organisations.
Existing figures show that substantial progress has already been made. Average tariffs in APEC member economies are now more than 60 percent lower than when APEC was established in 1989.
Mr Lamy will brief Trade Ministers on progress in the Doha Development Agenda (DDA) negotiations and on the WTO’s efforts to monitor and counter protectionism. APEC Trade Ministers will then discuss how to give impetus to the DDA and maintain APEC’s standstill against protectionism.
Trade Ministers will also focus on APEC’s key agenda items for 2010. They will consider ways to accelerate regional economic integration, including possible pathways to a Free Trade Area of the Asia-Pacific. In addition, the Ministers will review APEC’s work to formulate a new Growth Strategy for the region that achieves more balanced growth, attains greater inclusiveness in societies, better sustains the environment, and raises growth potential through innovation.
The meeting of Trade Ministers will be preceded by meetings of APEC Senior Officials and working level groups from May 24 to June 4.
For more information, contact:
media@apec.org
1 June 2010
Businesses have 5 recommendations for APEC Trade Ministers
Issued by the APEC Secretariat
Sapporo, Japan, 1 June 2010 – As Trade Ministers from across APEC prepare for their annual meeting later this week, the APEC Business Advisory Council (ABAC) has delivered a set of five recommendations, with the intent that they be taken to APEC Leaders. These are:
Recommendation 1: ABAC recommends that Leaders should re-commit to achieving free and open trade within the APEC region. Taking account of the fundamental changes in APEC’s economic and social structures over the last sixteen years, and the fact that we are now in the era of the post-industrialized knowledge-based economy, ABAC recommends that a new vision is needed, building on the Bogor Goals to reflect the changing nature of modern Asia Pacific regional supply chains and value chains. This vision should seek to liberalize flows of goods, services, investment, technology, e-commerce and people; and have a strong emphasis on balanced and inclusive growth and sustainable development.
Recommendation 2: ABAC recommends that Leaders agree that a Free Trade Area of the Asia-Pacific (FTAAP) is an aspirational but achievable vehicle for delivering free and open trade and investment within the region. ABAC is seeking from Ministers greater detail on the modalities and processes towards an FTAAP to enable active involvement by the business community.
Recommendation 3: ABAC recommends that Leaders recognize the importance of existing and progressing regional trade arrangements such as the Trans-Pacific Partnership, ASEAN+1, ASEAN+3, ASEAN+6 and CEPEA as potential pathways to delivering an FTAAP. As these existing arrangements evolve, they should draw on previously developed APEC model FTA chapters covering goods, services and investment and other new business requirements to guide their progress. ABAC further requests that Leaders of economies engaged in evolving regional arrangements direct their officials to share knowledge and substance about their respective negotiations in a timely and transparent fashion, while respecting the negotiating sensitivity of some issues.
Recommendation 4: ABAC recommends that as a new vision for APEC is developed, the business community is closely engaged so that policy makers draw on business leaders’ expertise in identifying practical initiatives and proposing workable solutions. ABAC recommends that the links between the APEC Senior Officials’ Meeting and ABAC processes be better defined and integrated.
Recommendation 5: ABAC recommends that as part of achieving the Bogor Goals or a new vision, Leaders direct the APEC Secretariat to develop an annual set of ‘Regional Integration Metrics’ to monitor each economy’s progress towards greater regional economic integration and inclusive growth. Such indicators are essential for benchmarking performance and creating accountability from Leaders. ABAC recommends the creation of a one page “Regional Integration Dashboard” for each economy showing the level and change in various indicators of liberalization, including but not limited to, the flows of goods, services, investment, technology and people.
In fact, a key component of ABAC’s 2010 agenda is an assessment of APEC members’ achievement of the Bogor Goals* from the business perspective. Last week, in a letter to Trade Ministers, ABAC members explained that:
“ABAC’s own review clearly identifies that many member economies have become considerably more open since 1994. Industrialized economies have made significant steps towards becoming more free and open, a trend apparent among developing economies as well.”
While the global economy has evolved considerably since 1994, ABAC cites a need to increase efforts toward deeper regional economic integration…
“More needs to be done to achieve the goal of free and open trade and investment in the APEC region. This needs to encompass trade in goods, services, investment, ideas and the movement of people…. Trade and investment facilitation are also essential tools to enhance economic growth.”
ABAC includes representatives from the business communities in each of APEC’s 21 member economies. These representatives are appointed by APEC Leaders as a source of insight to the priorities and concerns of the business sector.
APEC Ministers Responsible for Trade (MRT) are to meet in Sapporo, Japan, 5 – 6 June.
*In 1994 in Bogor, Indonesia, APEC Leaders committed to the goals of free and open trade and investment in the region by 2010 for industrialized members and by 2020 for developing members.
For more information, contact:
media@apec.org
29 May 2010
Russia joins the APEC Business Travel Card Scheme
Issued by the APEC Secretariat
Sapporo, Japan, 29 May 2010 – The APEC Business Mobility Group announced today that the Russian Federation has been accepted into the APEC Business Travel Card (ABTC) scheme as a transitional member. This means that all of APEC’s 21 members now participate in the scheme.
“This is a historic occasion for APEC and the ABTC, as Russia’s membership completes the circle. The ABTC is one of APEC’s great success stories: it contributes to APEC’s goal of free and open trade and investment in the Asia-Pacific, and shows how practical cooperation can be achieved,” said Mr Stephen Allen, Chair of the APEC Business Mobility Group which oversees the scheme.
At the official membership ceremony, Mr Vladimir Kristov from the Ministry of Foreign Affairs of the Russian Federation described the significance of the occasion: “This is a marvellous event for Russia and for the region. We can all now use the ABTC as a platform for great business opportunities, and increase the linkages between our economies”.
The ABTC facilitates business travel in the Asia-Pacific by allowing cardholders:
Pre-cleared immigration entry into the 18 fully participating member economies*, eliminating the cost and time involved in obtaining visas.
Expedited transit through special fast-track lanes at major airports and seaports in all 21 economies.
Over 80,000 active cardholders now enjoy these benefits, and the APEC business community’s interest in the scheme continues to grow. Figures to-date in 2010 show applications are up 27 percent on the same period last year.
As of April 2010, Russia has been providing fast-track ABTC lanes at its international airports and seaports; and it will announce procedures for its citizens to apply for the card in due course. As it is a transitional member, all ABTC cardholders entering Russia will still have to obtain a visa (unless otherwise exempt under Russian legislation or international arrangements). However, visa applications from ABTC cardholders will be given priority.
Under existing bilateral agreements, Russia is able to provide full ABTC benefits to applicants holding ordinary passports from Hong Kong-China and Thailand for stays of up to 14 days and 90 days respectively. Applicants from 16 other economies - Australia, Brunei Darussalam, Chile, China, Indonesia, Japan, Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, Philippines, Singapore, Chinese Taipei and Viet Nam - can currently receive multiple entry visas at Russian Embassies or Consulates.
Pre-clearance of Russian citizens by other economies will be possible once Russia is able to offer reciprocal arrangements to those economies.
*The 18 fully participating members are: Australia; Brunei Darussalam; China; Chile; Hong Kong, China; Korea; Indonesia; Japan; Peru; Philippines; Malaysia; Mexico; New Zealand; Papua New Guinea; Singapore; Chinese Taipei; Thailand; and Viet Nam. The 3 transitional members are: Canada, Russia, United States.
For more information, contact:
media@apec.org or
lac@apec.org
To learn more about the ABTC scheme, go to http
Have your say by emailing us at abacsg@sbf.org.sg.
27 May 2010
Businesses call for measures to address energy security in APEC
Issued by the APEC Secretariat
Chinese Taipei, 27 May 2010 - Recent turmoil in global energy markets underscores “the continuing challenges we face in strengthening energy security throughout the Asia Pacific,” says the APEC Business Advisory Council (ABAC).
In a letter to APEC Energy Ministers, ABAC - a group comprising some of the most respected business people from throughout the Asia-Pacific - makes very specific recommendations as to how these challenges might be addressed. Excerpts follow:
ABAC strongly recommends continued engagement between governments and the private sector… This is important as the private sector, including energy producers, transporters, financers, and consumers as well as relevant NGOs, provide essential perspective on the real impact of proposed policy and regulatory measures on actual markets, consumption patterns and productivity.
In 2008, ABAC sponsored publication of the Strategic Framework for Energy Security in APEC, a document designed to guide APEC’s energy security work. From our perspective much remains to be done to implement many of the recommendations contained in this document.
In the near term, we encourage APEC governments to focus on improving efficiency and conservation as a cost effective approach that can be broadly applied across the spectrum of supply and demand. Expansion and diversification of energy resources remains an important piece of any comprehensive energy security approach. APEC should work to secure wider use of low-carbon fossil fuels, including promoting the use of natural gas and development of gas transport infrastructure.
Nuclear energy is appropriate for many economies as a low emissions source of power generation. ABAC supports consideration of nuclear energy and studies into its feasibility in APEC individual economies.
We recommend Ministers undertake to study the possibility of establishing an APEC or Asian futures market in gas.
A comprehensive approach must include efforts to manage demand through conservation and efficiency efforts. This should include emphasis on improving the energy efficiency of power plants, promoting conservation and efficiency in buildings, and development of a common labelling system to promote dissemination of energy efficient products, including home appliances and IT products.
It is important to prioritise development of standard metrics to assess efficiency, preferably by sector, to assist in measuring progress and quantify results. We encourage Ministers to commit to establishing an APEC-wide common understanding of terminology, standards and best practices for measuring efficiency. Eliminating distortions and promoting efficiencies in energy markets must also be a cornerstone of a strategic approach to improving energy security. Recognising that in a group as diverse as APEC, complete harmonisation of standards is very difficult, we feel that in the near term, a focus on transparency and information sharing in this area may be a more practical goal.
Expanded emphasis on developing “clean” energy and promoting innovation in energy and related technologies is a final core pillar to a complete APEC energy security approach. Such development must involve close cooperation with government through public-private partnerships and regulatory framework that encourages private sector investment.
APEC economies should complement UNFCCC principles and processes by endorsing the development of an APEC Low-Carbon Pathfinder Scheme. The Scheme would be based on the successful APEC formula of voluntary, non-binding, open regionalism. Under such a Scheme, low-carbon policy measures by each APEC economy would be systematically and transparently prioritised and reviewed, with reports published annually or biennially so as to share experiences with other APEC economies.
APEC must continue to recognise that regional energy security strategies must be developed and implemented in the context of the overall global energy security situation. As such, relevant APEC agencies and sub-fora should coordinate closely with energy-related international organisations to ensure synchronicity of effort and maximise the potential for collaborative progress.
The letter is signed by ABAC 2010 Chair, Gempachiro Aihara, on behalf of the group.
For more information, contact:
mitsuiabac@mitsui.comor
media@apec.org
Have your say by emailing us at abacsg@sbf.org.sg.
21 May 2010
Business Seeks New Vision For Economic Integration In APEC
Business leaders from the APEC region who comprise the APEC Business Advisory Council (ABAC)
meeting in Taipei, Chinese Taipei expressed concern over the crisis currently emerging in Europe and
issued their findings and recommendations on the progress of the Bogor goals.
ABAC called on economies to be prepared to take quick and coordinated action should the crisis in
Europe persist and spread toward the APEC region.
ABAC commissioned a review of the progress towards the Bogor goals of free and open trade and
investments in the Asia Pacific region and has concluded that member economies both developed and
developing have become considerably more open since their adoption by APEC Leaders in 1994.
However, the changing nature of global business requires that more needs to be done to promote
deeper market integration if these goals are to be realized.
"Sixteen years after the groundbreaking and ambitious creation of the Bogor Goals, it is undeniable
that its underpinning principles have delivered some very positive achievements for APEC economies.
However, the world has changed and APEC needs a renewed focus on removing barriers to deeper
integration and deliver stronger business growth." said ABAC Chair Gempachiro Aihara.
ABAC called for a new vision for economic integration that takes into account the evolving nature of
global business particularly regional supply chains and value chain in the Asia Pacific region. The vision
should hence encompass not just liberalizing the flow of goods but also of services, investments, ideas
and of people. This new vision should be underpinned by a strong emphasis on balanced and inclusive
growth and sustainable development and taking into account the needs of small and medium
enterprises as well as microenterprises.
ABAC continues its call for the establishment of an FTAAP which appears to be the most viable
concept for achieving economic and market integration in the Asia Pacific. It called for APEC
Ministers to provide greater detail on the modalities and process toward a FTAAP to enable the
business community to be more actively involved in its evolution.
ABAC will put forward their recommendations to Leaders on the way forward for APEC during their
meeting with Ministers Responsible for Trade which will take place on 5-6 June 2010 in Sapporo,
Japan.
About ABAC
ABAC brings together up to three business leaders from each of the APEC's 21 economies. They
provide APEC Leaders with information regarding priorities and concerns of business sector.
The second ABAC meeting was held from May 17-21 in Taipei.
For more information, please contact:
Mr. Osama Kamikawa, ABAC Executive Director 2010, Tel: (813) 3285 5857,
Email: o.kamikawa@mitsui.com
Mr. Antonio Basilio, ABAC Secretariat, Tel: (63 2) 845-4564,
Email: Email: abacsec@pfgc.ph
Ms. Tran Bao Ngoc, APEC Secretariat, Tel: (65) 6891 9616,
Email: tbn@apec.org
Have your say by emailing us at abacsg@sbf.org.sg.
6 May 2010
Economic growth, sustainability on-going priorities for Tourism Working Group
Lombok, Indonesia, 6 May 2010 - Re-energizing the work that supports Leaders' directions will be a major focus for APEC's Tourism Working Group as it embarks on drafting a Strategic Plan for the Group.
The TWG agreed to identify interest areas with a view to initiating a strategic approach to facilitate the development of the travel and tourism industry in the Asia-Pacific region. Top priorities are to develop better communication with private and business sector, strengthen multilateral engagement and to increase work on cross cutting issues within other fora.
The Group discussed the issues associated with APEC's Growth Strategy and other 2010 priorities as a means to develop concrete recommendations and achieve a robust outcome for the forthcoming 6th Tourism Ministerial Meeting.
Economic growth and sustainability have been on-going priorities for the Tourism Working Group.
According to the World Travel and Tourism Council, the industry accounts for one in every 13.1 jobs in the world and the ratio is projected to increase in the immediate term. Moreover, APEC members have recognised community-based tourism as a way to increase the flow of revenue from urban centres to rural areas.
In 2008, Tourism Ministers agreed to promote the conservation and preservation of the environment and sustainability has been a predominant feature on the TWG agenda since then.
2010 Tourism Working Group projects include promoting the involvement of local communities in managing rural tourism and the use of clean technologies as a source of energy for hostels.
Source: APEC Secretariat
For more information, contact:
media@apec.org
5 May 2010
Solicitation of Interest to Participate in Pilot APEC Tariff Database Project
The APEC Business Advisory Council (ABAC) is proposing to launch an APEC-wide customs and tariff database, as part of plans to facilitate and increase the utilization of bilateral and multilateral FTAs among businesses in the APEC region.
APEC, a grouping of 21 economies*, have agreed to make their customs and tariff information more transparent and available to the public. This is in response to calls from businesses that customs transparency, or rather the lack thereof, is a major impediment to doing business in the APEC region. The lack of readily available information regarding applied tariff rates, rules of origin and the details regarding various regional, bilateral and multilateral trade preference arrangements negotiated among various APEC members makes it difficult for companies to take full advantage of the trade liberalization carefully negotiated by governments throughout the region.
ABAC hopes to develop a next-generation APEC tariff database that is intended to be a one-stop shop for exporters and importers within APEC to obtain tariff and preference information that is timely, current, commercially-relevant and accessible to all businesses. A pilot database will be launched to obtain feedback and input from companies of all sizes (including SMEs) and all APEC economies on depth and breadth of information available, functionality and ease of use.
We would like to invite companies to participate in this pilot project. For interested parties or those who want to find out more information about the project, kindly provide us with your name, designation, company profile and contact details to abacsg@sbf.org.sg. We would ideally like to attract the participation of a minimum of 20 companies to begin with.
More information on this project may be found HERE
* APEC's 21 Member Economies are Australia; Brunei Darussalam; Canada; Chile; People's Republic of China; Hong Kong, China; Indonesia; Japan; Republic of Korea; Malaysia; Mexico; New Zealand; Papua New Guinea; Peru; The Republic of the Philippines; The Russian Federation; Singapore; Chinese Taipei; Thailand; United States of America; Viet Nam.
20 April 2010
Launch of APEC CEO Summit 2009 Special Report
The APEC CEO Summit 2009 Organising Committee is pleased to announce that, in partnership with the Singapore Institute of International Affairs, we have compiled an APEC CEO Summit 2009 Special Report consisting of summaries of all the Summit's sessions.
We are pleased to extend to the public, a copy of the APEC CEO Summit 2009 Special Report for their reference. You may download the Report by clicking HERE
SBF and the ABAC hope that you will enjoy reading this Special Report as you did enjoy attending the Summit.
Have your say by emailing us at abacsg@sbf.org.sg.
24 March 2010
Survey on Supply Chain Chokepoints in the Asia Pacific Region
The APEC Business Advisory Council (ABAC) Singapore is conducting a feedback exercise on chokepoints in the supply chains within the Asia Pacific region.
The Asia Pacific Economic Cooperation (APEC) in 2009 established the Supply-Chain Connectivity Framework to (i) identify chokepoints in the existing supply-chain networks and (ii) identify work streams that would address these chokepoints. To find out more about the Framework, please refer to the attached document Here
Eight chokepoints to the smooth flow of goods, services and business travellers throughout the APEC region have been identified. The next phase of the Framework would be to identify which of the 8 chokepoints would be of priority for APEC to improve on.
ABAC Singapore is conducting an exercise to collect feedback from Singapore companies on these 8 supply chain chokepoints. The aim of this survey is to (i) rank the 8 chokepoints in terms of importance (1 being most important, 8 being least important) and (ii) gather solutions and suggestions that will enable governments to improve on these chokepoints.
We would like to invite you to fill up the attached feedback form with your rankings and suggestions. Your valuable feedback would enable us to put forth a strong case to push for greater improvements in the supply chains across the region.
click here to download feedback form
Please do not hesitate to contact ABAC Singapore if you need more information pertaining to the Supply-Chain Connectivity Framework.
Kindly forword the feedback form to abacsg@sbf.org.sg with your inputs by 9 April 2010.
Have your say by emailing us at abacsg@sbf.org.sg.
3 March 2010
Small reforms make big sense
Issued by the APEC Secretariat
Hiroshima, Japan, 3 March 2010 - The number of days it takes to start a business can have a direct impact on economic growth, says the World Bank.
According to Yara Salem, Private Sector Development Specialist at the World Bank, simple streamlining of processes can have a dramatic impact on economic performance:
"On average, reducing business-related processes by ten days leads to a 0.4 percent economic growth. For some it is even more. For Singapore, reducing the cost of starting a business has increased economic growth by about one percent and for Peru by 2.57 percent."
In addition, she says, making it easier to start a company can also have a positive impact on employment. She notes, as an example, the dramatic 28 percent increase in the number of businesses registered in Viet Nam following reforms in 2005.
Of course, economies should not stop at registration processes. The benefits of one-dimensional reform are easily undone. Salem specifies that to achieve enduring results demands coordination among institutions:
"You don't want people just to register businesses. You also want them to pay taxes, protect workers and know about the services that exist to help them. You want to analyse the results and monitor them."
Mexico is an excellent example of an economy that has created a synergy among agencies so that businesses can follow procedures at a "one-stop shop." A reduction of red tape has led to a five percent increase in newly registered companies and employment growth of almost three percent.
According to Salem, the five most important things that economies can do to increase the ease of establishing a business are:
- Provide one-stop shop service: reduce the number of offices a business must visit to establish itself legally.
- Simplify registration formalities: make the process easier and make it purely administrative.
- Introduce or improve online processes so that they are interlinked.
- Simplify post-registration procedures at local levels.
- Abolish minimum capital requirements.
Only five out of APEC's 21 members maintain minimal capital requirements for starting a business and APEC economies account for five of the ten world economies in which it is easiest to start a business. These economies have standardised forms that are simple and in which answers are not subject to interpretation. Registration fees are fixed and there is a very simple publication requirement to announce the creation of new companies.
These topics were discussed by regional policy-makers and international experts at this week's Ease of Doing Business Seminar, organised by the APEC Economic Committee.
As per the direction of APEC Leaders, economies are developing strategies for growth that is balanced, inclusive, sustainable and knowledge-based. Specifically, they aim to create conditions that are conducive to business and which, by extension, lead to increased employment and economic growth. Trade facilitation is one of APEC's fundamental goals and APEC economies continue to address barriers to trade, including the time, cost and frustration associated with starting and operating a business.
For more information, contact:
Carolyn Williams at (65) 9617 7316 or at cdw@apec.org
Linda Carroll at (65) 9647 4847 or at lac@apec.org
Have your say by emailing us at abacsg@sbf.org.sg.
23 February 2010
The first APEC Senior Officials' Meeting (SOM1) in Hiroshima, Japan
The first APEC Senior Officials' Meeting (SOM1) was held on February 22 and 23 in Hiroshima City. Mr. Shigeru Nakamura, Ambassador for International Economic Affairs, Ministry of Foreign Affairs, and Mr. Hidehiko Nishiyama, Director-General for Trade Policy, Ministry of Economy, Trade, and Industry, chaired the meeting and twenty-one member economies attended the meeting.
Outline
1. Regional Economic Integration (REI)
Japan, as Chair, presented and discussed drafts on the following key areas.
a. An active exchange of views took place regarding the assessment of achievement of the Bogor Goals (*1). Many economies expressed the view that the assessment should be highly credible and thorough, and that it should illustrate APEC's achievements so far. Based on this discussion, it was confirmed that the assessment process will continue through work to develop a draft assessment report. Korea announced its intent to participate in the assessment process this year. Including Mexico, which had announced its participation prior to SOM1, currently, eleven economies (*2), will be the subjects of the assessment process.
b. Possible Pathways to an FTAAP (Free Trade Area of the Asia-Pacific) were discussed. Several economies presented on the various regional efforts in which they are involved. It was confirmed that follow up discussions will be held and that results will be reported at this year's APEC Economic Leaders' Meeting (AELM).
c. Based on a presentation by Japan, discussions were held regarding (i) Accelerating Regional Economic Integration; (ii) Improving the business environment; and (iii) Promoting regional connectivity and trade facilitation. It was confirmed that these areas will be important elements in further discussions on REI, and that APEC will aim for more concrete results.
*1. Bogor Goals: In 1994, in Bogor, Indonesia, the AELM Declaration held forth the goal that industrialized economies by 2010 and developing economies by 2020 would achieve the goals of free and open trade and investment.
*2. Economies subject to Bogor Goals assessment in 2010 include: Japan; United States; Canada; Australia; New Zealand; Singapore; Chile; Hong Kong, China; Peru; Mexico; Korea (Underlined economies denote developing economies which voluntarily participate to be assessed.)
2. Growth Strategy
Japan explained the basic outline of the Growth Strategy, which consists of the following main elements: "Balanced Growth", "Inclusive Growth", "Sustainable Growth", and "Knowledge-based Growth". This topic will be important as each economy considers its post-financial crisis growth, so discussions will be deepened, centered on identifying specific projects.
3. Human Security
Officials discussed each field related to Human Security, beginning with food security, countering infectious disease, counter-terrorism, and disaster preparedness. Interest was high particularly regarding food security, and it was confirmed that efforts would be further strengthened in this area.
4. Economic and Technical Cooperation
Japan's proposal on strengthening and rationalizing economic and technical cooperation activities was formally endorsed, and agreement was reached on the medium-term priorities for these activities. Officials confirmed that APEC will implement activities that are more focused and effective.
5. APEC Reform
Officials agreed to proceed with further deliberations, including from an organizational perspective, in order to reconstruct the meaning of APEC as a framework that can respond to new issues facing the international and regional economy.
Evaluation
This was the first formal public meeting hosted by Japan as chair of APEC 2010. Each economy actively contributed to the development of the discussion, including the drafts Japan prepared for the meeting, and explored the direction to proceed in. Each economy expressed high regard for Japan's efforts and preparations in each area and confirmed intentions to accelerate their work under Japan's initiative. Member economies will continue deliberations and work based on this meeting's discussions to produce specific results in each field aimed at the Ministerial Meeting and Leaders' Meeting in November.
In conjunction with this meeting, "2010 APEC Junior Conference in Hiroshima" was held. Hiroshima City, Hiroshima Prefecture, and local businesses also offered their cooperation, contributing to the success of SOM1.
Ministry of Foreign Affairs and
Ministry of Economy, Trade and Industry
Japan
Have your say by emailing us at abacsg@sbf.org.sg.
19 February 2010
Market integration key to recovery
Issued by the APEC Secretariat
Tokyo, Japan, 19 February 2010 - To attract investors, economies have to think big. Economic sovereignty, say experts, is fast becoming a myth: we are now interdependent.
At their first meeting this year, APEC Senior Finance Officials considered ways to achieve new growth that is balanced, inclusive and sustainable. In dialogue with experts from the International Monetary Fund, the World Bank and the Asian Development Bank, delegates considered the challenges and opportunities in developed and developing economies.
If economies are to maintain the momentum of a relatively quick recovery, greater regional integration will be a major defining factor. This is particularly true for developing economies.
Explains Srinivasa Madhur, Senior Director, Office of Regional Economic Integration at the Asian Development Bank: "In general, Asian economies need to strengthen domestic consumption and increase investment."
However, he points out, middle income economies find themselves in a particular dilemma: "They experience pressure from below and above. Lower income economies offer cheaper goods and services; and higher income economies offer better goods and services." Add to that dynamic "low levels of investor confidence which can lead to a downward spiral."
According to the Asian Development Bank, economic communities are the way forward. Acting as a community both reduces economy-specific risks and increases opportunities for investors. "The investor doesn't want to see ten tiny markets. He wants one large production base. The size of the market will be much bigger, much more attractive."
"When we speak of Asian integration," says Mr. Madhur, "we mean regional-integration and global connection. APEC provides a platform for all of this to happen."
The comparatively swift recovery of the Asia-Pacific is largely attributable to unprecedented levels of cooperation among governments.
Other areas to be discussed throughout the year include aging and fiscal sustainability; green growth; and micro-finance. Outcomes will inform recommendations to be brought to APEC Leaders in November this year.
Have your say by emailing us at abacsg@sbf.org.sg.
12 February 2010
APEC Business Leaders Focus On Solidifying Long Term Growth
Against the background of improved economies and financial markets, APEC and the global economy should avoid the mistakes of the past in order for this nascent recovery to be solidified, says the APEC Business Advisory Council (ABAC).
"Although we began the year with a more favourable economic environment, compared to where we were last year, significant challenges remain. We need to work hand in hand with our governments to ensure that our economies continue to move on the path of growth and that growth will not be derailed" said ABAC Chair Gempachiro Aihara. "We need to be careful not to recreate the same conditions that led to the recent crisis which was characterized by lax regulatory environment and unbalanced growth policies."
To read the full media release, please
click here.
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Have your say by emailing us at abacsg@sbf.org.sg.
5 January 2010
Survey on Trade Restrictive Measures Within APEC
The APEC Business Advisory Council (ABAC) had devoted a significant amount of its work in 2009 to address the concerns of increased protectionism around the world that surfaced as a result of the onset of the global economic recession. In a bid to keep regional markets free and open, ABAC had submitted its views and recommendations to APEC Ministers and Leaders, on the severe impact of protectionist measures initiated by APEC# member economies in the past year. These inputs were drawn from business and industry sources across the Asia-Pacific region, providing anecdotal accounts of how trade restrictive measures had affected them. APEC Leaders had subsequently in their 2009 declaration stated that they will regularly review their adherence to keeping markets open.
In 2010, ABAC hopes to institutionalize the practice of providing timely and effective inputs to governments on the impacts of trade restrictive measures, through the process of gathering feedback from regional business and channeling the sentiments of the business community at the respective APEC fora. ABAC would therefore like to commence another round of feedback collection, to seek inputs on any negative (or positive) impacts of trade restrictive measures – both new and existing - that businesses may have encountered.
The feedback received will strengthen the anti-protectionist stance of the business community and serve as a reminder to APEC governments to uphold their commitments to free trade. We therefore encourage you to share your voice against protectionism by filling in the table below, to reflect the impacts of different trade measures on your business.
For your reference, we have attached a list of trade and trade-related measures within the APEC economies for the period October 2008 to October 2009 which was compiled by the WTO, which you may like to comment on, in addition to other examples that your business may have encountered. Please kindly send us your comments by 15 January 2010, to the email address: abacsg@sbf.org.sg.
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S/N
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Implementing economy
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Trade or other measure
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Reference
(WTO or other)
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Comment on impact
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E.g
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United States
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Resumption of dairy export subsidies (Dairy Export Incentive Programme, DEIP)
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UDSA announcement of 22 May 2009
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Provides export subsidies on 92,362T of US dairy products (in response to similar EU measures announced 22 January). Reduces cost of US dairy exports under subsidy; results in lost opportunities for unsubsidised competition; lowers global dairy prices to detriment of all supplier; invites retaliatory action from EU (further DEIP announcement before end June).
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For further clarification or assistance, please kindly contact Mr Alvyn Lim (abacsg@sbf.org.sg) or +65 6827 6869.
We thank you for your kind attention and valuable contribution.
# The 21 APEC economies are Australia, Brunei Darussalam, Canada, Chile, China, Hong Kong, Indonesia, Japan, Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, Philippines, Russia, Singapore, Chinese Taipei, Thailand, United States and Viet Nam.
Have your say by emailing us at abacsg@sbf.org.sg.
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