Stephen Jacobi, NZIBF Executive Director, speaks to the Confederation of Indian Industry Partnership Summit in New Delhi about The Future of Multilateralism.
Uniting to build a revitalised Asia-Pacific economic community

APEC NEWS RELEASE Issued by The APEC Business Advisory Council (ABAC)
Asia-Pacific business leaders are urging APEC governments to work together to overcome the COVID-19 pandemic and to adopt a strong Vision that demonstrates APEC members’ collective commitment to international cooperation and serves as a framework for the sustained economic recovery and growth of the region.
The APEC Business Advisory Council (ABAC) met virtually today, in the lead up to the meeting of APEC Economic Leaders on 20 November 2020.
“These are unprecedented times, demanding bold responses. The world faces the greatest health and economic crisis of a hundred years,” said the Chair of ABAC, Dato Rohana Tan Sri Mahmood. “These challenges demand cooperation, coordination and collaboration. We are strongest when we act together.”
Dato Rohana added that this was a major theme for ABAC. “We are calling for a Free Trade Area of the Asia Pacific. The values that have guided us this year – of integration, innovation and inclusion – are critical to recovery for us all.”
“We want a region that responds collectively to shared challenges. A region that values the connections between us – including free and open trade and investment, and a dynamic digital economy. Neighbours who help each other in times of need, respect each other’s differences, and remain committed to greater inclusion and equity. A region that protects its natural environment, including taking urgent action on climate change,” Dato Rohana added.
Dato Rohana noted that these ideas underpinned the recommendations that ABAC has conveyed in this year’s Report to APEC Economic Leaders.
Dato Rohana explained that ABAC’s Report builds on the recommendations made in July to Trade Ministers on tackling the immediate crisis. She added that, crisis response remains a pressing concern in many economies, and requires an ongoing focus on ensuring access to essential medical supplies and services, including a vaccine; keeping supply chains functioning and avoiding fragmented policy approaches, including in the digital economy and the safe resumption of travel. These would serve to revive the business activities and market demand that would accelerate global economic recovery.
For the longer term, ABAC had focused on three main areas.
“First, economic integration has been APEC’s touchstone for quarter of a century, and will be fundamental to a return to growth. That means building the foundations for a Free Trade Area of the Asia-Pacific, and championing the multilateral rules-based trading system, with the World Trade Organisation at its core.
“We need to prioritise policies that are conducive to international trade, resist calls to undercut competitiveness with protectionist quick fixes, and ensure that the WTO remains relevant and fit-for-purpose” added Dato Rohana.
The second major area was innovation. Dato Rohana added that the pandemic had dramatically demonstrated not only the importance of digital connectivity, but also the need to target disparities in internet access, digital skills and policies to foster an open, non-discriminatory and coherent digital economy.
Finally, Dato Rohana noted that COVID-19 had simultaneously made greater inclusion a more difficult goal to achieve, but also a more imperative one. “We cannot ignore the issue of rising inequality and the ever-greater discontent and loss of trust that it fosters. In rebuilding now, we must lift up the smallest of our businesses, women, our indigenous communities, youth, and other disadvantaged groups,” said Dato Rohana. “Our economic recovery must not leave these groups behind.”
She added that these elements would all go to building greater resilience – especially as the region faced not only the risk of future health crises, but also accelerating climate change. “There is an urgent need to reverse the dramatic decline in the health of our planet and embrace the transition to a low-carbon economy. We owe this to our people – to the communities of future generations – and we cannot fail to take action,” concluded Dato Rohana.
_______________________________________________________________________
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 Malaysia’s leadership, ABAC is pursuing a work program under the theme “Integration. Innovation. Inclusion.” to respond to the challenge of maintaining the economic vitality of the Asia-Pacific Region and ensure it benefits all.
ABAC 2020 Chair is Dato Rohana Mahmood and the Co-Chairs are Richard von Appen (Chile) and Rachel Taulelei (New Zealand), 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 Haadi, MSME & Entrepreneurship Working Group (MSMEEWG); Ning Gaoning, Sustainable Development Working Group; and Peggy Johnson, Digital & Innovation Working Group (DIWG)
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...