Seize Opportunities in Asia Pacific Markets

Seize Opportunities in Asia Pacific Markets, Canadian Business Leader Urges at APEC Summit(Canadian Council of Chief Executives)

Canada needs to boost its presence in the Asia Pacific region if Canadians are to capitalize on the enormous opportunities that the region offers, says Thomas d’Aquino, Chief Executive and President of the Canadian Council of Chief Executives (CCCE).“A profoundly important shift in economic and political power towards the Pacific and Asia is well underway,” Mr. d’Aquino told an audience in Sydney today. “This reality must reshape the Canadian consciousness as well as the public policies and business strategies of my country.”

Mr. d’Aquino was in Australia at the invitation of Prime Minister John Howard to attend the APEC Business Summit. The first APEC CEO Summit, which took place in Vancouver in 1997, was hosted by the CCCE and co-chaired by Mr. d’Aquino. Speakers at this year’s summit included Prime Minister Stephen Harper, President Hu Jintao of China and President George W. Bush of the United States.“Canadians are significant players in the western sphere of the Asia Pacific region -- in the United States, in Mexico, in Chile and in Peru -- but we are not nearly aggressive enough elsewhere,” he said. “There should be no ambiguity: Canada is a Pacific power with serious political, economic and security interests in the region. A strengthened presence must involve a long-term strategic perspective which combines sharper political resolve with a much more robust engagement by Canadian business.”

“Some Canadian companies are profiting handsomely through their engagement in rapidly growing Asian markets,” Mr. d’Aquino said, “but our numbers are surprisingly few given the opportunities that are before us.”The CCCE Chief Executive praised APEC, rebutting critics who dismiss the organization as a mere talking shop. Today, the 21 APEC economies account for 41 percent of the world’s population, 56 percent of global GDP and nearly half of all world trade. “But these impressive numbers do not tell the whole story.

One of APEC’s strongest advantages, particularly for Canada, the United States and the other western hemisphere countries bordering on the Pacific, is that it brings together under one umbrella all the Pacific actors. Thanks in part to APEC, an east-west split across the Pacific has largely been averted.”Acknowledging that many business leaders in the region believe APEC’s progress has been too slow, Mr. d’Aquino stressed its achievements as a forum for constructive diplomacy, for showcasing the benefits of trade and investment liberalization and the importance of the rule of law.

“We should not underestimate how much is accomplished through informal deliberations and contacts among the Leaders and their ministers. Nor should we underestimate the positive peer group pressure at work on the businesspeople who interact through the APEC process. Their repeated exposure to best practices inevitably rubs off and results more often than not in ever higher standards of corporate performance and behaviour.”“However, APEC’s full potential has yet to be mined,” he said. “Non-tariff barriers remain a problem. Respect for intellectual property in some countries is notoriously inadequate and the scourge of corruption is far from eradicated.”

Mr. d’Aquino pointed out that APEC can do much more in the area of security, especially given the current threats to stability in the region. He praised the commitment in Sydney to cooperation in the prevention, preparedness and recovery strategies to deal with threats from terrorism, pandemics and natural disasters.“APEC also has a vital role to play in dealing with environmental challenges and the Sydney Declaration signed by the APEC Leaders is a major step forward,” Mr. d’Aquino said. “The APEC region accounts for 60 percent of the world’s energy demand and China, the United States and the Russian Federation are the largest consumers. The commitment by the Leaders to cooperate in combating global climate change provides a much needed bridge between developed and developing economies in coming to terms with this complex challenge.”

Mr. d’Aquino applauded the contribution of Prime Minister Harper who, in his address to the APEC Business Summit, called for an all-inclusive effort to deal with global climate change. “Mr. Harper’s logic in calling for a global commitment and plan of action that is flexible, technology-driven and target-specific makes great sense,” Mr. d’Aquino added.Mr. d’Aquino concluded his remarks with a call for closer cooperation between Canada and Australia and New Zealand. He reminded his audience that Canada appointed its first trade commissioner to Sydney in 1895. “There are few countries in the world that are so much alike in our values, our laws, our political systems, and in the way we see the world,” he said. “While there are some solid business links between us -- for example, Canadian direct investment in Australia of close to $10 billion is Canada’s largest in any Asian country -- there is much more we can and should do together. In a world of global supply chains and of global value networks, Australian and Canadian enterprises and skilled workers should be seeking opportunities and synergies with each other. As business colleagues who understand and trust one another, there is plenty of room for a blend of Australian and Canadian expertise in the search for business throughout the Asia Pacific region.”

Mr. d’Aquino congratulated Prime Minister Howard for having presided over a productive and well-organized Business Summit. “The Prime Minister’s enthusiastic support of business dialogue within APEC and his personal engagement in the process contributed valuable substance and momentum to our deliberations.”Following his address to the Canadian Australian Chamber of Commerce in Sydney, Mr. d’Aquino will meet with senior Australian officials in Canberra and will attend various events linked to the visit of Prime Minister Harper including Mr. Harper’s address to the Australian Parliament.Composed of 150 chief executives and leading entrepreneurs, the CCCE is a not-for-profit, non-partisan business association committed to intellectual entrepreneurship through research, consultation and advocacy.