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Georgia Hispanic Chamber of Commerce (GHCC) APEC CEO Summit 2008 Lima, Peru November 20-23, 2008 Tisha R. Tallman, Presi

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Georgia Hispanic Chamber of Commerce (GHCC) APEC CEO Summit 2008 Lima, Peru November 20-23, 2008 Tisha R. Tallman, President & CEO December 5, 2008. APEC. 1989 21 member economies Cooperative process concerned with trade and economic issues

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Georgia Hispanic Chamber of Commerce (GHCC)

APEC CEO Summit 2008

Lima, Peru

November 20-23, 2008

Tisha R. Tallman, President & CEO

December 5, 2008

  • 1989
  • 21 member economies
  • Cooperative process concerned with trade and economic issues
  • APEC region is consistently the most economically dynamic part of the world
  • 70% of global economic growth in APEC region in first decade
  • 21 Member economies work together to sustain economic growth through open trade, investment and economic reform.
  • Progressively reduced tariffs and other barriers to trade
  • Resulting in more efficiency and exports have expanded dramatically
  • Economically competitive region that lowers prices for goods and services
21 member economies
21 Member Economies
  • Australia
  • Brunei Darussalam
  • Canada
  • Chile
  • People’s Republic of China
  • Hong Kong, China
  • Indonesia
  • Japan
21 member economies1
21 Member Economies
  • Republic of Korea
  • Malaysia
  • Mexico
  • New Zealand
  • Papua New Guinea
  • Peru
  • Philippines
  • Russia
21 member economies2
21 Member Economies
  • Singapore
  • Chinese Taipei
  • Thailand
  • United States
  • Viet Nam
apec summit
APEC Summit
  • 1996 created for CEOs to participate in the APEC Leaders’ meeting
  • One of the most prestigious annual events of the region
  • Most important annual meeting of economic and business leaders whose decisions shape the future of the Asia Pacific and beyond
  • APEC leaders, business leaders from Asia Pacific and Latin America
  • Networking and opportunities for insight
apec summit1
APEC Summit
  • Business leaders hear from and engage in discussions with APEC leaders, policy makers, academia and other CEOs on critical economic and business issues facing the region
apec summit 2008 lima peru
APEC Summit 2008Lima, Peru
  • November 20-23, 2008
  • Ministry of Defense Convention Center
  • “Growth, Equity and Sustainable Development: Challenges for APEC”
  • 10 APEC Leaders
  • 28 Role Players
  • 8 Major Partners
  • 4 Associate Partners
  • 3 Local Partners
  • 4 Media Partners
  • 29 Countries
  • 84 U.S. representatives from 56 different businesses,etc.
10 apec leaders
10 APEC Leaders
  • Prime Minister of Australia Kevin Rudd
  • Prime Minister of Canada Stephen Harper
  • President of the Republic of Chile Michelle Bachelet
  • President of the People’s Republic of China Hu Jintao
  • Chief Executive of Hong Kong Special Administrative Region Donald Tsang
  • President of the Republic of Indonesia Susilo Bambang Yudhoyono
  • President of the Republic of Korea Lee Myung-Bak
  • President of the United Mexican States Felipe Calderon
  • President of the Republic of Peru Alan Garcia Perez
  • President of the USA George W. Bush
28 role players including
28 Role Players, including. . .
  • President of Colombia Alvaro Uribe
  • Minister of Trade, Republic of Indonesia Mari Pangestu
  • Former Prime Minister of Republic of Peru Pedro Pablo Kuczynski
  • Minister of Foreign Affairs and Trade, Republic of Singapore George Yeo
  • US Under Secretary of State, Economic, Energy and Agricultural Affairs Reuben Jeffrey III
  • President of Inter-American Development Bank Luis Alberto Moreno
Welcome: Chairman of the APEC CEO Summit 2008 Jose Miguel Morales
  • Keynote Address by: President of Peru Alan Garcia
  • Comments: Commented on Peru’s resources. Mining (cooper, silver, lead) – 40% of S Am mineral resources in Peru, only 10% currently being exploited. One port city, Callao,and to build 2 more. Tourism, construction, and fisheries
“What are the implications of the current Global Financial Turmoil? Where is the Global Economy heading? What is the economic outlook for 2009?”
Keynote Address by: Prime Minister John Key of New Zealand
  • Remarks by: George Yeo, Minister of Foreign Affairs, Republic of Singapore; David Hale, Chairman David Hale Global Economics; Luis Alberto Moreno, President Inter-American Development Bank; Emilson Alonso, Group Managing Director, HSBC Latin America
  • Moderated by: Dato Timothy Ong, Chairman, Brunei Economic Development Board and former ABAC Chair (2000)
  • Key talked about credit boom and bust.
  • Yeo talked of decline of US power and growth of China and India (a multi-polar world). Sharing of power. Trust. Result will be formation of new divisions, and diversity.
“Are Bilateral free trade agreements (FTAs) good for Global free trade? Are FTAs building blocks or stumbling blocks? How can APEC help advance the WTO trade talks?”
  • Mari Pangestu, Minister of Trade, Republic of Indonesia
  • Vinod K. Aggarwal, Professor and Director, Berkeley APEC Study Center, University of California at Berkeley and Chief Economist, Frost & Sullivan
  • Rob Scollay, Associate Professor and Director of APEC Study Centre, University of Auckland
  • Juan Francisco Raffo, Chairman, APEC Business Advisory Council (ABAC) 2008
  • Moderated by: Felipe Aldunate, Chief Editor, America Economia
“Peru as the Business Gateway to Latin America”

Luncheon keynote address on investment opportunities in Peru by: Pedro Pablo Kuczynski, Former Prime Minister of Peru

Comments: More on investing in Peru. Specifics on mining and fisheries.

Keynote by: President Hu Jintao of the People’s Republic of China
  • Remarks by: Michael Enright, Sun Hung Kai Professor of Business Administration, University of Hong Kong and leading expert on competitiveness; Vincent Cheng, Chairman HSBC Asia; Xiao Yaqing, President CHINALCO; Cesar Alierta, Chairman of the Board of Directors, Telefonica; Hermann Ude, CEO, DHL Global Forwarding
  • Moderated by: Alberto Padilla, Financial Business News Anchor, CNN en Espanol
Comments: Discussion of growth of the East Asian markets. Portion of surpluses will go back into infrastructure investment. For example, in China, a $600 billion or 15% of GDP economic stimulus package.
“Growth, Equity and Sustainable Development: Ideas for APEC’s Future Agenda”

Keynote by: Prime Minister Kevin Rudd of Australia

Comments: What happened and what needs to be done; 1.4% GDP economic stimulus package

“Economic Growth and Poverty Alleviation: What are the Challenges for APEC’s developing economies?”
Keynote by: President Susilo Bambang Yudhoyono of Indonesia
  • Remarks by: Craig Mundie, Chief Research and Strategic Officer, Microsoft Corporation; Richard Adkerson, CEO, Freeport McMoRan Copper and Gold; Jack Ma, CEO, Alibaba Group
  • Moderated by: Nick Reilly, President, General Motors Asia Paccific
“Meeting the Challenge of Globalization”

Dinner Keynote by: President Michelle Bachelet of Chile

Comments: on the economic crisis

“Asia’s Economic Rise: What Does it Mean for the World?”

Keynote by: President Lee Myung-Bak of Korea

Comments: energy and climate crisis in addition to global financial crisis; “stand still” policy (no free trade barriers); investment in education, science and technology; from average income of $100 - $20,000; support FTAs

“What can APEC do to strengthen the Asia Pacific Community?”

Keynote by: President George W. Bush of the USA

Comments: financial crisis; free trade; 2/3 trade in world with APEC; we have tripled our trade w/ China

“Strengthening Global Free Trade and Investment: What Should the Key Priorities be?”

Keynote by: Chief Executive Donald Tsang of Hong Kong, China

Comments: regional trade; WTO support; no consumption taxes; no capital gains tax

“How has the Global Financial Crisis affected the APEC Agenda: Is a re-thinking of priorities required?”

Keynote by: Prime Minister Stephen Harper of Canada

Comments: long term flexible exchange rates; long term tax reductions; still at surplus; long term plan to not have structural budgetary deficits; 40 million jobs created through NAFTA

“The Global Financial Crisis and Latin America: What are the implications for Latin America and the world?”

Keynote by: President Felipe Calderon of Mexico

Comments: Asian market surplus without adjusting exchange rates; need flexible exchange rates to end crisis; mistrust; structural reforms in education, judiciary, and energy; to build port in Baja California; Goldman Sachs 2050 prediction (China, U.S., India, Mexico, Brazil)

“Surviving the Crisis: Are the measures taken so far enough? How long will the recovery take? What are the implications for the Global Financial Architecture?”
Keynote by: David Hale, Chairman, David Hale Global Economics
  • Remarks by: Angel Gurria, Secretary General, Organization for Economic Cooperation and Development; Reuben Jeffery III, Under Secretary of State, Economic, Energy and Agricultural Affairs, USA; Richard Waugh, President and CEO, Scotiabank; Robert Priday Woodworth, CEO, Cervecerias Peruanas Backus
  • Moderated by: Raul Ferro, Editor, BN America’s
  • David Hale: global financial crisis now an economic crisis; Citibank from $300 billion to $36 billion; May or June rebound; 2011 or 2012 back to stable; financial institution regulations (increase in capital); G 20 must address emissions China and US
  • Robert Woodworth: 150 page report on failures; regulations; Canada at 9-10% capitalization, US at 4%
“Economic Reform at a Time of Crisis: The experience of Latin America”

Keynote by: President Alvaro Uribe

Comments: invest in Colombia; changes made in Colombia