Malaysia to host Pacific Basin business meet in May+

Malaysia to host Pacific Basin business meet in May+

KUALA LUMPUR (Kyodo): Some 800 participants from 21 countries will attend an annual Pacific Basin meeting in Kuala Lumpur from May 23 to May 25 to discuss how to sustain the region's economic dynamism, conference organizers said.

Participants in the 27th Pacific Basin Economic Council (PBEC) assembly will include Malaysian Prime Minister Mahathir Mohamad, Vietnamese Prime Minister Vo Van Kiet, New Zealand Deputy Prime Minister Don McKinnon and GATT Director General Peter Sutherland.

Conference chairman Basir Ismail described this year's theme on "Profiting from Pacific Dynamism -- Opportunities and Challenges for the Private Sector" as timely, now that the Uruguay Round to free global trade has been completed. Basir is chairman of Petronas, Malaysia's state-owned oil firm.

The PBEC, founded in 1967, is a forum that allows the private sector to liaise with government officials, and has about 1,000 corporate members.

It now has 14 member countries or territories, which will be expanded when China, Russia and Colombia become formal members at the Kuala Lumpur meeting.

Singapore, Thailand and Indonesia will also apply for membership at the meeting while Vietnam is attending as an observer.

Current PBEC members are Australia, Canada, Chile, Fiji, Hong Kong, Japan, South Korea, Malaysia, Mexico, New Zealand, Peru, the Philippines, Taiwan and the United States.