Top executives to get behind APEC meeting
MANILA (UPI): Some 550 chief executive officers (CEOs) of top corporations are set to roll up their sleeves in meetings parallel to the Asia-Pacific Economic Cooperation's official agenda in Manila this week, showing the group is more than a talking shop for bureaucrats, officials said yesterday.
"The caliber of the CEOs are particularly impressive. It's a who's who of CEOs of large-, medium- and small-scale enterprises," said Roberto Romulo, chairman of the APEC Business Advisory Council.
At least 550 CEOs registered for the two-day APEC Business Forum starting Nov. 22, an unprecedented gathering of top businessmen expected to talk about concrete ways of reducing trade and investment barriers. The United States is expected to have the largest participation, with 133 delegates.
Romulo said APEC's request for more private sector participation in the group shows the governments' confidence in their role in further advancing the already dynamic Asia-Pacific region. ABAC, a council of 53 of the region's top business executives, was formed in 1995 by the leaders of APEC's 18-member economies to serve as an advisory body.
"We didn't ask for it. We were appointed by the leaders. I think this is unique because they are asking us to provide input and advise on planning for the future," Romulo said. "By doing so, the leaders have effectively said they believe we are responsible for the success of the region and they would like to take advantage of our wisdom and fresh ideas."
The business forum is the council's second largest endeavor. Its first project, completed in late-October, was a comprehensive 56-page report on how to accelerate APEC's goal of eliminating trade and investment barriers by the year 2010 for industrialized economies and 2020 for developing ones.
The council is set to meet with the leaders on Nov. 24 for a formal dialog on its 16 concrete recommendations that include the creation of a special visa that would ensure free access in the region for businessmen, the formulation of investment protection policies, and the holding of a roundtable discussion of the region's infrastructure needs.
The council knows its recommendations are "bold and controversial," but is positive most governments will adopt them.
"We are a group of businessmen and we are naturally impatient. What we have recommended is ambitious but we believe it is achievable," Timothy Ong, a member of the council and managing director of Brunei's National Insurance Co., said upon completion of the report. "Our recommendations are not even as fast as we want APEC to move but as fast as we feel APEC can go."
Philippine President Fidel Ramos, who wants to be remembered as the one who mustered the private sector's full support for APEC, has acted on some of the council's recommendations.
Ramos has directed Romulo to organize a roundtable discussion on the Philippines' infrastructure needs during the ABF and at least 100 CEOs, private bankers, fund managers and other executives are expected to attend and pinpoint investment opportunities for their companies.
Ramos has also instructed concerned agencies to establish in 1997 a special multiple-entry, minimum 5-year visa for businessmen within the region, to be offered on a reciprocal basis.
The 7-year-old APEC groups Australia, Brunei, Canada, Chile, China, Hong Kong, Indonesia, Japan, Malaysia, Mexico, New Zealand, Papua New Guinea, the Philippines, Singapore, South Korea, Taiwan, Thailand and the United States.
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