APEC Business Forum opens with mixed views<\/p>\n
By Prapti Widinugraheni & Medyatama Suryodiningrat<\/p>\n
MANILA (JP): Corporate leaders opened the APEC Business Forum
\nhere yesterday with different outlooks on the business
\nenvironment and the market place likely to arise out of the
\neconomic grouping's action plans.<\/p>\n
Some executives expect a more conducive business climate in
\nthe region but others foresee fiercer market competition in the
\nfree trade era.<\/p>\n
Businesspeople from developed member countries of the Asia
\nPacific Economic Cooperation (APEC) forum see the opening up of
\nthe region's markets and its development opportunities as a
\nchance to spur their businesses.<\/p>\n
But those from developing countries are more cautious, arguing
\nthat without sound preparation, the only ones to benefit from
\nAPEC would be the developed countries.<\/p>\n
The two-day forum of corporate chief executive officers
\n(CEOs), launched by Philippine President Fidel Ramos, is the
\nfirst-ever to coincide with an APEC ministerial meeting since the
\ngrouping was founded in 1989.<\/p>\n
The forum, attended by more than 500 CEOs of major companies
\nbased in APEC countries, is expected to discuss ways to reduce
\ntrade and investment barriers.<\/p>\n
Ramos said the meeting was expected to \"locate business in its
\nrightful place within the region... which is shoulder-to-shoulder
\nwith the peoples and governments (of APEC economies)\".<\/p>\n
He warned that APEC's efforts should benefit not only the
\nmajor economic players of the region but also small and medium
\nenterprises (SMEs).<\/p>\n
\"At the most basic level, the APEC vision is about improving
\npeople's lives,\" he said.<\/p>\n
Agus G. Kartasasmita, an executive of the Indonesian Chamber
\nof Commerce and Industry, agreed the government should do more to
\ndevelop SMEs.<\/p>\n
\"The government, for instance, should see to it that SMEs can
\ndevelop without being bothered by the problem of burdensome
\ncollateral and high interest rates,\" he said on the sidelines of
\nthe meeting.<\/p>\n
He said strengthening SMEs was among the host of problems that
\ngovernments must urgently address. \"There is no other option and
\nno turning back. We have a deadline to meet,\" he said.<\/p>\n
APEC has set 2010 and 2020 as the deadlines for developed
\nmembers and developing members to free trade.<\/p>\n
The business forum's host, the APEC Business Advisory Council
\n(ABAC), has identified five important areas to businesses: cross-
\nborder flows; finance and investment; infrastructure; small and
\nmedium enterprises and human resource development; and economic
\nand technical cooperation within APEC.<\/p>\n
Jing Shuping, the chairman of the All-China Federation of
\nIndustry and Commerce, said yesterday that cross-border economic
\nflows between APEC members should continue to meet the principles
\nof equality and cooperation between developed and developing
\ncountries.<\/p>\n
\"In the actual removal of barriers for cross-border flows, the
\nprinciple of mutual benefit, mutual accommodation, mutual support
\nand mutual cooperation should be implemented,\" Shuping said.<\/p>\n
Shuping said that while trade and investment liberalization
\nand facilitation were important, the processes of economic and
\ntechnical cooperation should not be neglected.<\/p>\n
\"Cross-border flows cannot be separated from the economic and
\ntechnical cooperation among APEC members,\" Shuping said.<\/p>\n
Maurice R. Greenberg, the CEO of American International Group
\nInc., in his speech yesterday emphasized that businesses must
\nhelp develop the regions infrastructure.<\/p>\n
Quoting a World Bank report, he said East Asia alone would
\nneed an infusion of some US$1.5 trillion in infrastructure
\ninvestment by 2004, of which 20 percent was expected to come from
\nthe private sector.<\/p>\n
He suggested APEC members improve their investment climates by
\npursuing free capital repatriation and currency conversion; a
\nreasonable and predictable tax regime; an effective, credible
\nlegal and judicial system; and an enforceable commercial code.<\/p>\n
He also called for the establishment of mechanisms for
\nperfecting financial liens and claims, a reliable and prompt
\ndispute resolution mechanism and an unconditional investment
\npolicy which is not dependent on performance requirements.<\/p>\n
\"Inadequate infrastructure... stands in the way of an era of
\neven greater prosperity and dynamism. Slow growth will only make
\nelimination of such bottlenecks much more difficult,\" he said.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/apec-business-forum-opens-with-mixed-views-1447893297",
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