Stephen Jacobi, NZIBF Executive Director, speaks to the Confederation of Indian Industry Partnership Summit in New Delhi about The Future of Multilateralism.
Building a sustainable and inclusive future in turbulent times

Senior business leaders from around the Asia-Pacific, meeting in Kuala Lumpur this week, expressed deep concern about the risks to continued prosperity from the current turbulent trade and economic environment.
“The storm clouds of trade war and protectionism are gathering,” said David Toua, Chair of the APEC Business Advisory Council. “After a period in the doldrums, we had finally been seeing more buoyant growth around the world. But the destructive forces of protectionism and unilateralism are a real threat to that trend.”
Mr. Toua noted that the IMF was forecasting global GDP to expand by 3.9% in 2018, but that it has also identified a rise in trade tensions as a significant downside risk.
“We have given a strong message to APEC Economic Leaders in our annual Report about our support for the global rules-based trading system and the value we place on pressing ahead towards a Free Trade Area of the Asia-Pacific. These are fundamental to ensuring that our region will be seamless, dynamic, resilient and sustainable – and a place where everyone can enjoy the opportunities and benefits of regional economic integration,” said Mr. Toua.
“Trade barriers hurt jobs especially those in SMEs participating in Global Value Chains (GVCs), and it hurts our communities and environment. Open and connected markets are not just better for business – they have advanced communities globally. We need to focus on reaching win-win outcomes.”
He added that a further core message to Leaders was around the importance of fully leveraging the digital age. “That means a future-ready workforce, infrastructure, and the right policy settings to ensure data flows, privacy and security, while not leaving some economies behind.”
Mr. Toua said that the Council had also finalised letters to APEC Ministers for Finance, Energy and SMEs.
On energy, Mr. Toua said that ABAC was committed to helping to realise the UN Sustainable Development Goal of access to affordable, reliable, sustainable and modern energy for all. “That demands a focus on improving energy infrastructure, shifting towards low-carbon and renewable energy, and tackling climate change,” he said.
“On finance, we recognise the central role that FinTech plays in the digital economy, and accordingly we have stressed the importance of coordination on policy, regulatory and institutional settings in that area,” Mr. Toua added. “As well, the vast infrastructure needs in the APEC region should be an urgent focus for investment and regulatory reform.”
Mr. Toua added that empowering micro-, small and medium-sized enterprises (MSMEs) and women remained a major priority. “It is critical that MSMEs, including women-led MSMEs, are able to realise their full potential – whether operating domestically or internationally. That requires access to finance and the digital economy, reducing structural impediments and trade barriers such as NTBs,” said Mr. Toua.
“There also needs to be an emphasis on the development of future-ready skills, more broadly throughout economies such as STEM education, and the right mindset in business and society that encourages and enables equal economic participation, including diversity in leadership roles. Without addressing these needs, we will struggle to deliver truly inclusive and sustainable growth,” concluded Mr. Toua.
Read the original report from ABAC here.
REGISTER WITH TRADE WORKS
Register to stay up to date with latest news, as well as saving and discussing articles you’re interested in.
Latest News
Remarks to Confederation of Indian Industry Partnership Summit, New Delhi, 15 March 2023
"The Future of Multilateralism" by Stephen Jacobi, NZIBF Executive Director Namaskar Tēnā koutou katoa – greetings to you all in the language of the Māori people of Aotearoa New Zealand. It is an honour for me to speak to such a distinguished gathering today....
AMIDST THE STORM: ABAC MEETS IN AUCKLAND
Perhaps a cyclone was after all a fitting backdrop for the meeting of the APEC Business Advisory Council (ABAC) which was held in Auckland on 12-14 February – the global environment against which the meeting took place is decidedly stormy. In the event the wind...
Asia-Pacific business leaders call for action on climate and economic inclusion
APEC NEWS RELEASE Issued by The APEC Business Advisory Council (ABAC) Auckland, 14 February 2023 - Members of the APEC Business Advisory Council (ABAC) met in Auckland, New Zealand this week to develop a work plan that calls on policymakers to leverage trade and...
ASIA-PACIFIC BUSINESS LEADERS GATHERING IN AUCKLAND, 12-14 FEBRUARY 2023
Media Release - 8 February 2023 Equity, sustainability and opportunity are key themes of one of the largest gatherings of senior Asia-Pacific business leaders held in New Zealand for some time. The APEC Business Advisory Council (ABAC) is due to meet in Tāmaki...
A YEAR FOR RECONNECTING
As I write this end of year dispatch, NZIBF is preparing to host the first meeting for 2023 of the APEC Business Advisory Council (ABAC). We are looking forward to welcoming the 200 or so business leaders and senior officials from APEC member economies across the...
MAJOR GATHERING OF ASIA-PACIFIC BUSINESS LEADERS TO BE HELD IN AUCKLAND, 12-14 FEBRUARY 2023
Media Release - 14 December 2022 Sustainability, digitalisation and resilient, inclusive trade will be key themes of a major gathering of senior Asia-Pacific business leaders to be held in Auckland early next year – the first such event to be held in New Zealand...
NZ Herald: Time to lift our game in India
Following his recent visit to India our Executive Director Stephen Jacobi penned this article advocating a more strategic approach to the further development of the relationship. The article was published by the NZ Herald on 9 December.
APEC Rolls out Priorities for 2023
Issued by the Informal Senior Officials’ Meeting - Honolulu, The United States, 13 December 2022 Aiming to provide tailwinds for member economies to strengthen recovery and resilience, as well as advance broad-based economic growth, the United States rolled out its...
NZIBF 2022 Chair Report
ANNUAL GENERAL MEETING 2022 CHAIR’S REPORT I am pleased to present my second report on the activities and achievements of the NZ International Business Forum (NZIBF) for 2022-23, our fifteenth year of operations. At the outset I would like to thank Members for...
APEC Leaders Issue 2022 Declaration and the Bangkok Goals on the Bio-Circular-Green Economy
Issued by the APEC Economic Leaders' Meeting Bangkok, Thailand, 19 November 2022 The Leaders of the 21 APEC member economies issued the 2022 Leaders’ Declaration following the 29th APEC Economic Leaders’ Meeting chaired by the Prime Minister of Thailand,...
NZ BUSINESS LEADERS AT APEC 2022
New Zealand business will be represented at the APEC Leaders’ Week in Bangkok, commencing 13 November, by members of the APEC Business Advisory Council (ABAC). New Zealand’s three members – Rachel Taulelei, Malcolm Johns and Anna Curzon – supported by Stephen Jacobi...
Submission to the Ministry of Foreign Affairs and Trade: Re-Development of the Framework for Integrating Labour Standards and Trade Agreements
Submission by NZIBF – October 2022 This submission is made on behalf of the NZ International Business Forum (NZIBF), whose members are listed at Annex A[1]. NZIBF is a forum of senior business leaders working together to promote New Zealand’s engagement in the global...
Address to the 51st One Stop Update for The Accountant In Business, 25 October 2022
ADDRESS TO THE 51st ONE STOP UPDATE FOR THE ACCOUNTANT IN BUSINESS AUCKLAND, 25 OCTOBER 2022 STEPHEN JACOBI EXECUTIVE DIRECTOR NZ INTERNATIONAL BUSINESS FORUM GLOBAL ECONOMIC UPDATE Thanks to Brightstar for inviting me back to address this conference once again. When...
Submission to MPI on Modernising Our Export Assurances Systems: Legislative Options
Submission by Export NZ and NZIBF - 29 September 2022 1.0 INTRODUCTION 1.1 Export New Zealand (ExportNZ) and the New Zealand International Business Forum (NZIBF) welcome the opportunity to comment on the Ministry for Primary Industries’ (MPI) Modernising Our Export...
Submission to MFAT for CPTPP Review
30 September 2022 Phil Mellor Economic Division, Ministry of Foreign Affairs and Trade, Wellington (By email) Dear Phil, Thank you for your email of 1 September, seeking our comments on the three year review of the Comprehensive and Progressive Agreement for Trans...