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Report from ABAC2 Initial summary of key outcomes from ABAC2, Kuala Lumpur May 2012 Kazan, May 2012
Report from ABAC2
Initial summary of key outcomes from
ABAC2, Kuala Lumpur May 2012
Kazan, May 2012
Defending liberalisation
� Trade and Investment liberalisation has always been at the
heart of ABAC concerns, so
� ABAC Members concerned to preempt the danger of
backsliding into protectionism in response to deep and
protracted recession:
� Continue to drive towards FTAAP:
� Press to complete TPP� Press to complete TPP
� Encourage development of Regional Comprehensive
Economic Partnership (RCEP)
� Comprehensive briefings/discussion at ABAC2
� Have created an “ABAC Friends of the TPP”:
� First meeting at ABAC3 in Ho Chi Minh City, July
2012
A challenging context
� Rising concern over the failure of governments to
collaborate effectively in tackling the global recession, now
in its fourth year and deepening:
� Backsliding into protection
� Deepening sovereign risk, particularly in Europe
� Anxieties over access to necessary finance
� Business is willing to contribute to growth and recovery, � Business is willing to contribute to growth and recovery,
investment, and job creation…
� ..But cannot do this while the policy environment is so
chaotic and volatile
� ABAC recognises this is policy responsibility of Finance
Officials, not Trade Officials gathered in Kazan this week
� But we seek closer collaboration: contagion across into
real economy and international trade is strong and real
ABAC call for an Asia-Pacific Financial Forum
� Apart from the need to tackle urgent short-term
challenges, ABAC Members are concerned to develop a
stronger long-term architecture to drive development of
Asia’s capital markets
� Call for creation of an Asia-Pacific Financial Forum
� Encourage a “whole of government” approach to
tackling regional economic and financial challengestackling regional economic and financial challenges
� Review appropriate financial regulation
� Reduce reliance on bank finance and deepen regional
capital markets
� Reduce reliance on capital markets of Europe and US
� Will take this proposal to Senior Financial Officials in
Moscow end-June
� Seek a Dialogue on the proposal in Vladivostok
� Establish early in 2013
Regional Economic Integration
Doha, TPP, FTAAP
Services
SMMEs and Entrepreneurship
People Growth
Creation of New Biz
Supply Chain ConnectivityAPAWG
Infrastructure Development
Transportation
PPP
Green Development
Working Groups Agendas
Sustainable Development
Food Security
Technology Transfer
& Investment
Energy Security
Sustainable Growth of SMMEs
Finance & Economics
G20 Regional
Developments
Stable
Financial systems
SMMEs Financing &
Economic Inclusion
Supply Chain ConnectivityAPAWG
Public-Private partnership
(PPP)
SME Finance
Regional Bond market
development
Advisory Group on
APEC Financial System
Moving Initiative to Reality
Linkages with APEC
Regional Economic Integration WG
� Driving towards FTAAP
� Tackle Supply Chain inefficiences
� PSU Briefing in ABAC2
� Marshall School Study of Supply Chain chokepoints in
Services
� Services liberalisation: we have built on the
“Understanding Services” study championed by Hong “Understanding Services” study championed by Hong
Kong China and Philippines (see next slides)
Understanding Services at the
heart of a competitive economyheart of a competitive economy
Key Recommendations:
� Consider dedicated Services liberalisation
negotiation
� Created Services Expert Group comprising
government, private sector, and academics
� Improve services data
Regional Economic Integration WG
� Driving towards FTAAP
� Tackle Supply Chain inefficiences
� PSU Briefing in ABAC2
� Marshall School Study of Supply Chain chokepoints in
Services
� Services liberalisation
� Travel Facilitation Initiative: strong business support� Travel Facilitation Initiative: strong business support
� Labour Mobility: Skills Mapping project
Regional Economic Integration
Doha, TPP, FTAAP
Services
SMMEs and Entrepreneurship
People Growth
Creation of New Biz
Supply Chain ConnectivityAPAWG
Infrastructure Development
Transportation
PPP
Green Development
Working Groups Agendas
Sustainable Development
Food Security
Technology Transfer
& Investment
Energy Security
Sustainable Growth of SMMEs
Finance & Economics
G20 Regional
Developments
Stable
Financial systems
SMMEs Financing &
Economic Inclusion
Supply Chain ConnectivityAPAWG
Public-Private partnership
(PPP)
SME Finance
Regional Bond market
development
Advisory Group on
APEC Financial System
Moving Initiative to Reality
Linkages with APEC
Finance & Economics WG
� Deepen regional capital markets
� Examine development of new Credit Rating Agencies
� Identify and avoid unintended consequences of new
financial regulation
� Discuss with Senior Finance Officials� Discuss with Senior Finance Officials
� Collaborate with B20, feeding into G20
Regional Economic Integration
Doha, TPP, FTAAP
Services
SMMEs and Entrepreneurship
People Growth
Creation of New Biz
Supply Chain ConnectivityAPAWG
Infrastructure Development
Transportation
PPP
Green Development
Working Groups Agendas
Sustainable Development
Food Security
Technology Transfer
& Investment
Energy Security
Sustainable Growth of SMMEs
Finance & Economics
G20 Regional
Developments
Stable
Financial systems
SMMEs Financing &
Economic Inclusion
Supply Chain ConnectivityAPAWG
Public-Private partnership
(PPP)
SME Finance
Regional Bond market
development
Advisory Group on
APEC Financial System
Moving Initiative to Reality
Linkages with APEC
Small, Medium and Micro Enterprises WG
� Principle priority must always be access to finance
� ICT as enabler for access to international market
opportunities:
� STAR Database: Australia briefing
� Interactive Tariff Database: US briefing
� ABAC China initiative to boost access to/use of ICT:
emphasis on ease access to information, efficiency, and emphasis on ease access to information, efficiency, and
access to international market opportunities
� Main vehicle for this work continues to be a strong stream
of APEC SME Summits:
� Hong Kong
� Peru
� Beijing
Regional Economic Integration
Doha, TPP, FTAAP
Services
SMMEs and Entrepreneurship
People Growth
Creation of New Biz
Supply Chain ConnectivityAPAWG
Infrastructure Development
Transportation
PPP
Green Development
Working Groups Agendas
Sustainable Development
Food Security
Technology Transfer
& Investment
Energy Security
Sustainable Growth of SMMEs
Finance & Economics
G20 Regional
Developments
Stable
Financial systems
SMMEs Financing &
Economic Inclusion
Supply Chain ConnectivityAPAWG
Public-Private partnership
(PPP)
SME Finance
Regional Bond market
development
Advisory Group on
APEC Financial System
Moving Initiative to Reality
Linkages with APEC
Sustainable Development WG
� Food Security: applaud launch of PPFS, with strong
ABAC support and participation
� Energy Security:
� Letter to Energy Ministers for end-June
� Briefings on ASEAN regional power grid:
international trade in electricity
� Environmental Goods and Services:� Environmental Goods and Services:
� Encourage a comprehensive list
� Energy efficiency a priority
� Technology Transfer Partnership
Regional Economic Integration
Doha, TPP, FTAAP
Services
SMMEs and Entrepreneurship
People Growth
Creation of New Biz
Supply Chain ConnectivityAPAWG
Infrastructure Development
Transportation
PPP
Green Development
Working Groups Agendas
Sustainable Development
Food Security
Technology Transfer
& Investment
Energy Security
Sustainable Growth of SMMEs
Finance & Economics
G20 Regional
Developments
Stable
Financial systems
SMMEs Financing &
Economic Inclusion
Supply Chain ConnectivityAPAWG
Public-Private partnership
(PPP)
SME Finance
Regional Bond market
development
Advisory Group on
APEC Financial System
Moving Initiative to Reality
Linkages with APEC
Infrastructure Development WG
� Priority focus on integrated infrastructure planning and
management to ensure we build better cities:
� Collaborate with “SMART” Facility at Australia’s
University of Woollongong
� Ongoing focus on development of PPPs to capture private
sector expertese and finance in building infrastructure
� Water services: need to focus on improved policy � Water services: need to focus on improved policy
environment for private sector involvement in
development of water services
� At ABAC2 also received a comprehensive presentation on
Indonesia’s efforts to strengthen infrastructure
Regional Economic Integration
Doha, TPP, FTAAP
Services
SMMEs and Entrepreneurship
People Growth
Creation of New Biz
Supply Chain ConnectivityAPAWG
Infrastructure Development
Transportation
PPP
Green Development
Working Groups Agendas
Sustainable Development
Food Security
Technology Transfer
& Investment
Energy Security
Sustainable Growth of SMMEs
Finance & Economics
G20 Regional
Developments
Stable
Financial systems
SMMEs Financing &
Economic Inclusion
Supply Chain ConnectivityAPAWG
Public-Private partnership
(PPP)
SME Finance
Regional Bond market
development
Advisory Group on
APEC Financial System
Moving Initiative to Reality
Linkages with APEC
Action Plan and Advocacy WG
� Working to improve our interaction with APEC Leaders,
Ministers and Senior Officials
� Keen concentration on improving our ability to respond to
APEC requests for input
� …and on making sure ABAC’s priority concerns are heard
by the right people, in the right place and at the right time
� Still much to do, but keenly appreciate your own interest � Still much to do, but keenly appreciate your own interest
to engage us in your deliberations
Report from ABAC2
Initial summary of key outcomes from
ABAC2, Kuala Lumpur May 2012
Kazan, May 2012
