Business Looks To APEC For Strong Signal On Trade

(www.nzibf.co.nz)
Media Release – 9 November 2009

Business Looks To APEC For Strong Signal On Trade

Business representatives attending this week’s APEC meetings in Singapore hope that APEC Economic Leaders will take strong steps towards free and open trade in the region.

New Zealand members of the APEC Business Advisory Council (ABAC) – Tony Nowell, Gary Judd and Stephen Jacobi – are all in Singapore for ABAC’s fourth and final meeting for 2009, the APEC CEO Summit and the annual ABAC Dialogue with APEC Economic Leaders.

"As the region experiences a shaky resumption of economic growth, we need the continuing stimulus that increased trade and investment will bring”, said ABAC New Zealand's Senior Policy Adviser and NZIBF Executive Director Stephen Jacobi.

ABAC’s recommendations to APEC Economic Leaders are contained in a report “Building Towards the Bogor Goals with One Community” which will be presented in the Dialogue meeting on Saturday 14 November.

Tony Nowell will participate in a Dialogue Group including Prime Minister John Key and President Barack Obama. Gary Judd’s group includes President Hu Jintao of China and Stephen Jacobi’s group includes President Lee Myung-Bak of Korea.

“High on the list of ABAC’s recommendations are moving to initiate negotiations towards the Free Trade Area of the Asia Pacific (FTAAP), resisting protectionism in all its forms, concluding Doha, increasing the flow of investment and addressing climate change in a way that provides a predictable and stable environment for business,” said Mr Jacobi.

About the NZ International Business Forum
The Forum is a business organisation which aims to generate wealth for New Zealanders by helping ensure that New Zealand enterprises are fully integrated and engaged in the global economy and New Zealand’s global competitive position is maximised.

About the APEC Business Advisory Council
The APEC Business Advisory Council (ABAC) is an independent high-level group of business people who advise leaders of the Asia-Pacific Economic Cooperation (APEC) on priority issues for business in the region. ABAC was established by regional leaders in 1995 to provide business input into the APEC forum. NZIBF provides policy advice and support to the three New Zealand members of ABAC.

ENDS