Stephen Jacobi, NZIBF Executive Director, speaks to the Confederation of Indian Industry Partnership Summit in New Delhi about The Future of Multilateralism.
The digital economy can deliver massive gains – if we get policies right

This media release was originally published on the ABAC website.
The potential for the digital economy to drive inclusive and sustainable growth is substantial, but will only be delivered with effective and imaginative polices that properly engage the private sector, said a group of senior Asia-Pacific business leaders, meeting in Atlanta, Georgia (USA) this week.
Members of the APEC Business Advisory Council, ABAC, have focused on the transformative role of the digital economy and its capacity to deliver growth and global engagement, including for small firms, women, those in remote communities and others who might otherwise struggle to participate.
ABAC Chair Richard von Appen, of Chile, said that policymakers need to be creative and determined, and work speedily to enable these gains to emerge. “The opportunities and challenges of going digital have often outpaced policy making over the last few years, leading to suboptimal outcomes for businesses and the communities they serve. APEC’s unique structure – allowing for conversation, experimentation and capacity-building – can be a key contributor to better outcomes,” Mr von Appen added.
“It is no surprise that APEC economies have been at the forefront of global growth over the last decade because those economies have embraced more open markets and deepening economic integration, underpinned by the global rules-based framework of the WTO. This has raised living standards and helped generate a real sense of dynamism and opportunity”, Mr von Appen said.
“Now the same level of dynamism and creativity should be applied to new digital opportunities,” declared Mr von Appen.
While determined to leverage the benefits of the digital age, ABAC members also expressed their concern at recent reports that trade was now at its weakest level since 2010, with protectionist trade restrictions sharply on the rise. They called for determination, engagement and unity to deliver on the promise of sustainable and inclusive growth.
Mr. von Appen urged economies to engage constructively. “It is clear that the WTO system is not perfect. We need to reform it and update the rules to reflect 21 st -century business models,” Mr. von Appen said. “But we should continue to support the system itself. Trade, underpinned by the WTO, brings benefit to billions of consumers and workers, creating new opportunities.”
Mr. von Appen said that ABAC was focused on developing practical approaches to help make trade work for everyone, including small businesses and women. For example, ABAC had developed a set of WTO-consistent principles to tackle non-tariff barriers – ideas that were subsequently taken up by APEC Ministers last November – and was exploring how APEC economies could fully leverage the benefits of the digital economy, services trade, infrastructure investment and other issues.
“Our vision is for a dynamic, resilient, seamless, sustainable and inclusive Asia-Pacific, in which equity, non-discrimination, fair competition and sustainability are the order of the day,” Mr. von Appen said. “APEC accounts for 60 percent of the world’s economy. Let us – big and small economies alike – show the way to global prosperity, especially for the poor and disadvantaged.”
“Our meetings with APEC Senior Officials here in Atlanta have showed that there is much that unites us. We must build on that. We need to work together in tackling inequality and giving equal opportunities by enabling more people through infrastructure and training into the digital economy.
“Absolute determination and constructive engagement must be our operating principles,” concluded Mr. von Appen.
APEC Member Economies: Australia; Brunei Darussalam; Canada; Chile; China; Hong Kong, China; Indonesia; Japan; Korea; Malaysia; Mexico; New Zealand; Papua New Guinea; Peru; Philippines; Russia; Singapore; Chinese Taipei; Thailand; United States of America; and Viet Nam.
ABAC was created by APEC Leaders in 1995 to be the primary voice of business in APEC. Each economy has three members who are appointed by their respective Leaders. They meet four times a year in preparation for the presentation of their recommendations to the Leaders in a dialogue that is a key event in the annual Leaders Meeting.
Under Chile’s leadership, ABAC is pursuing a work programme under the theme “Inclusive and Collaborative Growth in the Digital Area” to respond to the challenge of maintaining the economic vitality of the Asia-Pacific Region and ensure it benefits all. There will be two priorities: inclusive trade policy to foster growth in the digital era and advancing regional economic integration.
ABAC 2019 co-chairs are Dato Rohana Mahmood and David Toua, with five (5) working group chairs, namely: Sir Rod Eddington, Regional Economic Integration Working Group (REIWG); Nobuhide Hayashi, Finance & Economics Working Group (FEWG); Hafimi Abdul Haadii, MSME & Entrepreneurship Working Group (MSMEEWG); Ning Gaoning, Sustainable Development Working Group; and Saw Ken Wye, Digital & Innovation Working Group (DIWG)
For further information please contact:
Ms. Loreto Leyton, ABAC Executive Director 2019, Tel: +562 334 3200
Email: lleyton@funchilepacifico.cl
Mr. Antonio Basilio, Director, ABAC Secretariat
Tel: (63 2) 845 4564, Email: abacsec@pfgc.ph
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...