Home>>Business
Last updated at: (Beijing Time) Thursday, November 29, 2001

PECC's 14th General Meeting Opens in Hong Kong

The 14th General Meeting of Pacific Economic Cooperation Council (PECC) opened here Wednesday,drawing participation of representatives from the academia, business and government of the 25 member economies of PECC.


PRINT IT DISCUSS IT CHINESE SEND TO FRIENDS



Tung Chee Hwa Addresses the Opening Ceremony of PECC's 14th General Meeting
The 14th General Meeting of Pacific Economic Cooperation Council (PECC) opened here Wednesday,drawing participation of representatives from the academia, business and government of the 25 member economies of PECC.

The meeting, which will run through November 30, represents theculmination of Hong Kong's tenure as chair of PECC for 1999-2001. It will showcase what PECC has achieved in the past two years under Hong Kong's chairmanship.

Addressing the opening ceremony, Tung Chee Hwa, chief executiveof the Hong Kong Special Administrative Region, said Hong Kong is very honored to host the 14th General Meeting of PECC and the theme for the meeting "Managing Globalization in the 21st Century"is most timely.

He pointed out that China's accession to the WTO and the successful outcome of the Doha Ministerial Meeting on an agreementto begin a new round of WTO negotiation will add new momentum to further the liberalization of trade and services, promote closer economic interdependence among economies, and speed up the processof globalization.

"Globalization and the free flow of people, money, trade and services go hand in hand," he said. "The rapid advances of IT and the increased efficiency in transport and logistic networks have brought the world much closer together."

Tung noted, "In Hong Kong we not only believe in free trade andservices but we have also benefited tremendously from it."

"For eight years in a row, we have been ranked by the Heritage Foundation, a major think tank in the U.S., as the world's freest economy. Indeed, Hong Kong's success today as a major international trade and financial center, enjoying one of the highest per capita income in the world, is an embodiment of the benefit of free and open trade and services," he added.

Tung also highlighted the "one country, two systems" principle and the historic mission for Hong Kong to turn this innovative concept into an everyday reality.

Over the past four and a half years, with the firm support of the central government and the determination of the people of HongKong, Hong Kong have successfully achieved this mission, he added.

The main theme of the meeting is "Managing Globalization in the21st Century." Participants will examine the opportunities and challenges of globalization, and how globalization can best be managed for the benefit of both developing as well as advanced economies in the following three days.

Sub-themes include charting the millennium trade agenda, strengthening financial markets and corporate governance, community building and seizing the e-opportunities.

PECC is a non-governmental organization established in 1980 with the purpose of developing closer cooperation on trade and economic policy issues among economies in the region. At present, it has a total of 25 member committees in the region.






    Advanced

Hong Kong to Host 14th PECC General Meeting