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DATE: October 23, 2001 TO: US-ASEAN Business Council Members FROM: Ken Richeson Executive Director US-ASEAN Business Council Tel: (202) 416-6704 Fax: (202) 289-0519 E-mail: kricheson@usasean.org <mailto:kricheson@usasean.org< Best Business Briefing 24/7: www.us-asean.org <http://www.us-asean.org< SUBJECT: Post APEC Report SUMMARY: The story of Shanghai is one of cooperation focused on moving forward, away from terror and low growth, towards economic recovery and further progress in trade and investment facilitation and liberalization (TIFL). The APEC Leaders were unanimous in their support an anti-terrorist statement proposed by the US government. In addition, as expected, they endorsed the launch of a new WTO round, albeit with an emphasis on greater consultation with developing countries in shaping the agenda. They also approved a Shanghai Accord that recommits the APEC economies to meeting the Bogor Goals of 2010 and 2020. The APEC Leaders Statement and other key documents have been posted on the Council's website and can be accessed at <http://us-asean.org/APEC/index.htm<. The US-ASEAN Business Council hosted a very successful dinner with President Arroyo of the Philippines in Shanghai that sets the stage for a much larger event when President Arroyo visits the US in November. During our luncheon with Dr. Supachai, he expressed "cautious optimism"; emphasizing that agreement on an agenda for a new WTO round was within reach. The Council also organized a US-Malaysia private sector dialogue to explore ways in which the private sectors in both countries could leverage the APEC meeting between President Bush and Prime Minister Mahathir in improving US-Malaysian relations. PRESIDENT BUSH: In his remarks to the APEC CEO Summit, President Bush spoke directly to the need for defeating terrorism and this message was well received and well publicized. In addition, he spoke on the benefits of international trade and globalization and noted that the events of September 11 provide an opportunity for strengthening and expanding international trade. President Bush noted that the US would do its part by stimulating its economy and keeping US markets open, a statement that was very well received by the audience. He also called on all CEOs in the audience to press their governments to live up to their commitments to meet their Bogor Goals and support the launch a new WTO round. In closing his remarks, President Bush noted that the APEC economies must work together against terrorism without undermining trade and to ensure that the benefits of expanded trade are widely shared. US GOVERNMENT MEETINGS: In his meeting with the US private sector, Secretary of State Powell provided a candid and broad ranging review of US government policies. A transcript of his remarks has been posted on US-ASEAN Business Council web page and can be accessed at <http://us-asean.org/APEC/index.htm< In a separate meeting, Deputy USTR John Huntsman stressed the importance of launching a new WTO round. He acknowledged that in the run-up to Seattle there had been insufficient consultations with developing countries and too many pre-negotiation agreements. However, progress is now being made on narrowing the agenda and he was hopeful that a new round would be launched in November. He expects the US-Singapore Free Trade Agreement to be finalized during the first quarter of 2002, although financial services and transshipment issues still must be resolved. In response to a question concerning USTR priorities, Huntsman listed them as: (1) Congressional approval of Trade Promotion Authority (TPA); (2) launch of a new WTO round; (3) managing regional and bilateral trade relations; and, (4) implementation of China's WTO accession agreement and US trade agreements with Vietnam and Laos. RECEPTION AND DINNER FOR PRESIDENT ARROYO: The Council hosted a small reception and dinner for the Philippine President, HE Gloria Macapagal Arroyo, in Shanghai. Discussions were informal and far reaching and served as a prelude to the President's visit to the US in November when she will meet with members of the Council and make a major policy address at a Council Dinner on November 20. Sponsorship opportunities for the DC events are available. Contact: Walter Lohman (wlohman@us-asean.org <mailto:wlohman@us-asean.org<) LUNCHEON WITH DR. SUPACHAI: The Secretary General - Elect of the World Trade Organization meet with members of the US-ASEAN Business Council over lunch in Shanghai. Dr. Supachai gave some brief opening remarks and then engaged in a broad ranging discussion of specific issues. He acknowledged that there was still a lot to be done but noted that progress had been made on developing an acceptable agenda for a new round. This was accomplished by making the agenda much more general and leaving the specifics to be developed and agreed to later. This has proven to be a successful tactic in the past and the expectation is that it will work again. In addition, since the meeting in Seattle, there have been broader consultations with the developing countries. As a result, Dr. Supachai was cautiously optimistic that agreement would be reached in November to launch a new round. US-MALAYSIA PRIVATE SECTOR DIALOGUE: The Council also organized a US-Malaysia private sector dialogue to explore ways in which the private sectors in both countries could leverage the APEC meeting between President Bush and Prime Minister Mahathir in improving US-Malaysian relations. A number of suggestions and ideas were discussed which focused on improving communications and joint US-Malaysian private sector efforts to demonstrate the benefits of international trade and investment. A draft of these recommendations is being developed and will be provided to the members of the US-ASEAN Business Council for review and comment before any further actions are taken. Ken Richeson Executive Director US-ASEAN Business Council Tel: 202-416-6704 Fax: 202-289-0519 E-mail: kricheson@usasean.org
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