CACCI President visits Osaka CCI and meets Young Entrepreneurs

During the CACCI Presidential visit to Osaka, President Peter McMullin AM visited the Osaka Chamber of Commerce and Industry on 2 June 2025 to pay respects to their President and thank him for the warm welcome to the CACCI delegation.

President McMullin AM was excited to preside over the signing of three new members to our Young Entrepreneurs Group of Asia-Pacific (YEGAP) with Brunei, Cambodia and Myanmar joining this rapidly growing network.

He provided the opening remarks to the Asian Youth Economic Organisations Exchange Program. A vibrant event of over 500 young entrepreneurs from across 15 countries in the region.

The day culminated with a business networking dinner and cultural dancing and music. The day couldn’t have been better.

The perspectives of the young entrepreneurs and business leaders were refreshing. They were clear-eyed about the challenges we collectively face but optimistic and ready to see opportunity in chaos.

President McMullin AM left the day feeling positive and energized and said that “If these young people are the future then we are in good hands.”

CACCI President & YEGAP Chairman co-host dinner on The Landmark Osaka Square

Members of the CACCI Presidential visit delegation and of Japan YEG attended the dinner co-hosted by CACCI President Mr. McMullin AM and YEGAP Chairman Mr. Aoki.

Held on 1^st June 2025 at the Blue Birds Rooftop Terrace at The Landmark Osaka Square situated right beside the historical Osaka Castle, one of Japan’s most famous landmarks, the welcome dinner gathered over 100 entrepreneurs from 10 countries across the region including Indonesia, Cambodia, Myanmar, Japan, Australia, Singapore, Timor-Leste, Philippines, Taiwan and Pakistan.

The welcome dinner provided the attendees the opportunity to introduce themselves to each other and to know more of their businesses and their other interests, thereby setting the stage for more camaraderie over the next two days.

The welcome dinner also marked the launching of the Good Business Network (GBN) founded by Mr. McMullin that aims to bring together businesspersons and encourage them not only to make money but also to undertake initiatives and activities focused on different aspects of social good. The GBN is affiliated with the Good Business Foundation, which was founded by Mr. McMullin “to show that there is another way. Another way to do business and to go forward. A way for us to be citizens not just consumers.” The Foundation supports purpose-driven SME businesses across the globe.

Join the CACCI Presidential Visit for Exclusive VIP Access to Expo 2025 Osaka

The Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI) is pleased to invite all officers and members to the 2025 CACCI Presidential Visit to Osaka, Japan, scheduled to take place from June 1 to June 4, 2025. Hosted by the Japan Chamber of Commerce and Industry (JCCI), this exclusive trip offers unparalleled opportunities to engage with influential Japanese business leaders, build valuable connections, and experience the cutting-edge innovations at Expo 2025 Osaka, Kansai, one of the world’s most anticipated global events.

Highlights of the Visit

Sunday, June 1

• (Optional) Pre-Welcome Gathering, organized by Mr. Hiromi Aoki, Chairman YEGAP (Venue: TBA)

Monday, June 2

• Morning: Meeting with Osaka Chamber of Commerce and Industry Executives (TBC)
• 12:00 PM: Asian Youth Economic Organizations Exchange Program Organized by the JCCI YEG (Venue: ATC Hall)
• Evening: Networking and Dinner Reception (Venue: ATC Hall)

Tuesday, June 3

• Full-day visit to Expo 2025 Osaka, Kansai, featuring a Kansai YEG Special VIP Tour (Venue: Expo Site, Yumeshima)
• Evening: Dinner hosted by Mr. Hiroshi Oshima, Special Advisor, JCCI and Vice-President of CACCI (Venue: TBA)

Wednesday, June 4

• Delegates’ departure from Osaka

Participation Fees and Details

• June 1 pre-welcome gathering (optional): TBA
• June 2 Asian Youth Economic Organizations Exchange Program (including networking and dinner reception): JPY 15,000
• June 3 Expo 2025 Osaka, Kansai VIP tour: Complimentary, covered by JCCI

Accommodation Recommendations

There are two recommended hotels for this visit, both of which offer easy access to the ATC Hall and the Expo site:

• Grand Prince Hotel Osaka Bay: Website
• Quintessa Hotel Osaka Bay: Website

Convenient transportation is available from Kansai Airport/Osaka Station to the Grand Prince Hotel, which is just a short walk from the Quintessa Hotel.

Registration

Register here by April 30, 2025: https://forms.gle/42zr8k7buYWXM1HY9

Capacity: 40–50 participants

For questions or further assistance, contact:

Abby Moreno – abby.moreno@cacci.biz | +886 975 601 873 (WhatsApp)

Teresa Liu – teresaliu@cacci.biz | +886 972 182 772 (WhatsApp)

Need visa assistance?

Please contact us if you require an invitation letter or any other visa-related support.

We look forward to seeing many of you in Osaka. Don’t miss this opportunity to connect with fellow CACCI leaders and take part in one of 2025’s most exciting international events!

CACCI Presidential Visit to Melbourne in 1-4 September 2025

CACCI is inviting members to join CACCI President Mr. Peter McMullin AM on his Presidential Visit to Melbourne, Australia scheduled to take place on September 1-4, 2025.

As you may know, the CACCI Presidential visit aims to provide the CACCI President and members of his delegation the opportunity to gather first-hand information on the business situation in the host country; to further build up the image of CACCI by making courtesy calls on officials of relevant government agencies of the host country, and to meet with local businesspersons and explore opportunities for possible business cooperation.

The Melbourne visit will happen simultaneously with the 14^th World Chambers Congress (14WCC) being organized by the ICC World Chambers Federation (ICC WCF) on September 2-4. The 14WCC brings together economic actors, business leaders and policymakers from around the world to spur change through dialogue and cooperation. Co-organized by ICC WCF and the Victorian Chamber of Commerce and Industry (VCCI), the 14WCC will focus on the theme “Business, chambers, government: Partners for prosperity” and will address shared global challenges such as international trade, geopolitical disruptions, investment-readiness, sustainable energy transition, innovation and digital transformation.

Tentative Program 1 September 2025:
The first day of the Presidential Visit to Melbourne can be viewed below.

Tentative Program 2-4 September 20205:
CACCI delegates will take part in the 14th World Chambers Congress at the Melbourne Convention and Exhibition Centre. Co-organized by the International Chamber of Commerce (ICC), its World Chambers Federation (WCF), and VCCI, the Congress will focus on the theme “Business, Chambers, Government: Partners for Prosperity.” Key topics include international trade, digital transformation, sustainable development, and global cooperation.

The program of the 14WCC on September 2-4 can be accessed through the following link: (Programme | 14WCC), now live on the official 14WCC website. Registration procedure, hotel accommodation, and other relevant information may be obtained through this link.

Participation in both the CACCI Presidential Visit and the 14WCC is strongly encouraged. This joint program offers an exceptional platform for networking, knowledge exchange, and strategic collaboration. Capacity is limited to 40 participants for the Presidential Visit segment, so members are encouraged to confirm their interest early. We look forward to welcoming you to Melbourne for this important gathering!

Updates will be sent to all members once these are available. In the meantime, if you have further questions, please write to cacci@cacci.biz.

Proposed Program – Monday, 1 September 2025
CACCI Presidential Visit to Melbourne, Australia

9.30am Courtesy call with Victorian Chamber Chief Executive Paul Guerra and senior staff at Victorian Chamber Headquarters on Collins Street in Melbourne.
10.15am: Travel

10.30am: Meeting with senior Victorian Government representatives at Global Victoria’s Investment Centre on Collins Street in Melbourne, including relevant Minister (TBA).
11.15am: Travel

11.30pm: Tour of a Victorian Chamber member site, such as Bendigo Kangan’s Automotive Centre of Excellence or the Cremorne Digital Hub.
12.30pm: Travel

12.45pm: Boardroom lunch hosted at a Victorian Chamber corporate member (such as a law firm or bank).
2.15pm: Travel

2.45pm: Tour of the Melbourne Cricket Ground.
3.45pm: Travel

4.15pm: Networking event/happy hour with entrepreneur group from Australia, CACCI, India and other areas/countries at a Melbourne venue.

Optional extra (early morning): Visit to renewable energy investment-ready site.

Successful 38th CACCI Conference in Singapore

Dear Friends,

What a great CACCI Conference it was in Singapore this month! My thanks to CACCI Vice President for Sustainability Mr. Lennon Tan and his team at the Singapore Manufacturing Federation (SMF) for hosting this important event. My thanks also to the CACCI Secretariat for their hard work in making this important event happen. During the conference, I was humbled and honoured to be re-elected as CACCI President for the second term. It is indeed a privilege to lead such an impressive organisation with so much potential.

I will continue my Presidency under the theme of ‘Helping business get SET for the future’:

Sustainability: I look forward to continuing to support SMEs to reach NetZero as soon as possible. As you know we conducted a recent study under my direction across our 10 member countries to find out more about the opportunities and challenges facing SMEs in making the transition. During the conference in Singapore, we also officially launched the APAC Green Alliance headed up by my VP – Sustainability, Mr Lennon Tan and his team from Singapore.

Entrepreneurship: This will have a renewed focus over the next two years. We have a vibrant young entrepreneurs arm across our member countries — the Young Entrepreneurs Group of Asia-Pacific (YEGAP). During the conference, Mr. Hiromi Aoki was installed as the new YEGAP Chair. I look forward to working with Hiromi and his team as we renew and strengthen leadership within the CACCI network.

Trade: A key pillar of every chamber network and a large reason why I joined this important movement. I will also be talking about another ‘T’, and that is transition. Transition to a sustainable and just economy will only occur if SMEs are seriously engaged in this work. I will be using my position to talk about the transition needed also within the Chamber network, building upon our core business models and our central values.

Now the work begins afresh. I look forward to working with you all in making CACCI the best it can possibly be.

Yours sincerely,

Peter McMullin AM

CACCI Planning Meeting To Kick Off 39th Conference Preparations

CACCI will hold its Planning Committee Meeting on February 12, 2025, at 2:00 PM Taipei time (11:30 AM Sri Lanka time). This meeting marks the launch of preparations for the 39th CACCI Conference, set to take place in Colombo, Sri Lanka, and to be hosted by the Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL).

The Committee will finalize key details such as the conference theme, agenda, speakers, and program format to ensure the success of this milestone event. The conference will bring together business leaders and stakeholders from across the Asia-Pacific to address pressing regional issues and opportunities.

Further updates will follow as plans progress. For more information, please feel free to contact the CACCI Secretariat at cacci@cacci.biz.

Themes & Topics sought for 39th CACCI Conference in Colombo, Sri Lanka in 2025

The 39th Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI) annual conference will be hosted by the Federation of Sri Lanka Chambers of Commerce of Sri Lanka (FCCISL) in 2025.

In preparation for the 2025 Conference, members of the CACCI Planning Committee will meet virtually on February 12, 2025 primarily to discuss the Conference Program, including the themes and topics for the Conference.

In this connection, CACCI is seeking suggestions on economic, business or policy issues which CACCI members think are currently of great concern to members and the business sector of the region as a whole, and should be discussed by members during the 2025 Conference. Please let us know your thoughts by accomplishing the Suggestion Form and returning it to  through our Fax No. (886 2) 2760 1139 or via e-mail at cacci@cacci.biz.

CACCI would appreciate hearing from you before January 15, 2025 to give enough time to circulate all suggestions to the Planning Committee for consideration prior to its meeting.

The list of the themes and topics of past years’ Conferences can be downloaded HERE.

Thank you, and we look forward to receiving your response.

Sincerely yours,

Darson Chiu, Ph.D.
Director-General
Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI)

CACCI President co-hosts Australia-Taiwan Business Council in Melbourne

On December 3, Australia-Taiwan Business Council Ltd (ATBC) hosted its second major event of the year in Melbourne, focusing on strengthening ties between Australia and Taiwan. Senior federal politicians Dr Daniel Mulino MP (Labor, Chair of the Parliamentary Committee on Economics) and Senator James Paterson (Liberal, Shadow Minister for Home Affairs and Cyber Security, and Shadow Cabinet Secretary) both highlighted their admiration for Taiwan’s democratic values and expressed strong support for deeper bilateral relations.

The event gathered around 60 attendees, including notable figures such as State Labor MPs Kate Theophanous and Iwan Walters, representatives from the US Embassy, and officials from the Department of Foreign Affairs and Trade. Ray Lu, Director General of the Taipei Economic and Cultural Office Melbourne, delivered remarks underscoring Taiwan’s commitment to international collaboration.

Co-hosted by the Australia-Taiwan Club (ATC) and Confederation of Asia Pacific Chambers of Commerce and Industry (CACCI) the event was held at the elegant Collins Street offices of Cornwalls law firm. CACCI President Peter McMullin AM who is also Special Counsel at Cornwalls, played a key role in the proceedings. The Chair of ATC, Luke Donnellan also delivered the welcome remarks.

The evening was expertly coordinated by ATBC CEO Ching-Mei Maddock, with Vice Chairs Rowan Callick and Eliza Chui serving as the event’s master of ceremonies and closing speaker, respectively. The session provided valuable networking opportunities and reinforced the growing momentum for collaboration between Australia and Taiwan across various sectors.

https://www.linkedin.com/feed/update/urn:li:activity:7269909430693961728/

Peter McMullin AM has been re-elected CACCI President. His plan for CACCI’s future

CACCI President invited to WCF Europe & Asia Summit in Istanbul

The Union of Chambers and Commodity Exchanges of Türkiye (TOBB) and the ICC World Chambers Federation (WCF) have invited CACCI President Peter McMullin AM to join the WCF Europe & Asia Summit, scheduled to take place in Istanbul, Türkiye on 15-16 October 2024.

The WCF Regional Summits bring together members of WCF global network of chambers to approach global challenges and opportunities through a regional lens.

The Europe & Asia Summit will focus on the theme of “A Collaborative Approach to Climate Action.” The Summit aims to bring together chamber executives, business leaders, experts, and stakeholders from the public and private sectors to discuss and forge new paths toward effective climate action through collaboration. There will also be opportunities for networking with business delegations from various countries in the region, as well as the arrangement of B2B meetings.

In fact, CACCI President Peter McMullin AM was especially invited to join the panel discussion titled “Navigating Global Economic Transformation and the Role of Chambers in Driving Change.”

This discussion will focus on how chambers can support businesses in adapting to shifts in the investment landscape, promote resilience in supply chains, and champion sustainability initiatives.
We hope to have the honour of your presence.

More information about the Summit can be accessed at www.wcfsummit@tobb.org.tr

The complete agenda of the Summit is presented below.

CACCI President elected Vice Chair of ICC WCF

CACCI President Peter McMullin AM has been elected Vice- Chair, Southeast Asia and Oceana at the ICC World Chambers Federation (ICC WCF).

ICC WCF has 1500 members from more than 100 countries and territories. It is the forum that connects chambers across global borders, creating a better environment for business and small and medium sized enterprises (SMEs), and driving prosperity and opportunity for all.

According to President McMullin, the idea of ‘merchants of peace’ was always attractive to him and remains so. Over 100 years ago a group of people, in the aftermath of the First World War, formed what is now known as the International Chamber of Commerce (ICC). It was founded on one common idea: if people traded and did business with each other they would be less likely to enter into conflict.

In reality, they would be ‘merchants of peace’. 100 years on, and the essence of those founding ideas has never been more important. In a time of geopolitical upheaval, the ICC World Chambers Federation is uniquely positioned to contribute to both peace and prosperity on our planet.

In this role, President McMullin says he looks forward to doing what he can to ensure the spirit of the ‘merchants of peace’ lives on. Additionally, he is eager to bringing the full weight of CACCI’s experience and its 27-country network to the ICC WCF Executive Board, and in continuing his goal to help business get SET for the future.

CACCI President: Why We Must Invest in Timor-Leste

A Promising Future for Sustainable Development

Over the past month CACCI President Peter McMullin AM has reflected on Australia’s relationship with Timor-Leste because he has supported the country and its leaders for over 40+ years. He has visited the country countless times and was honoured to receive the Order of Timor-Leste late last year. Timor Leste occupies a special place in Peter’s heart.

Over this time, Peter has seen the country go through many ups and downs. From civil unrest and conflict to finding its feet again after decades of occupation and political instability. Today the country is at another crossroads as it faces a declining oil reserve, a young population who need jobs, and a reform agenda towards sustainability,

For these reasons, CACCI President Peter McMullin AM is pushing for more support for Timor-Leste and here Peter speaks out what is needed.

Former Australian Ambassador to Timor-Leste Peter Roberts, Prime Minister Xanana Gusmao and CACCI President Peter McMullin AM

Why we need to start investing in Timor-Leste

Investing in Timor-Leste is not just a moral obligation. It’s a strategic act vital for regional stability and prosperity. Here are four reasons why.

(1) Strategic Location and the Economic Potential of Timor-Leste

Timor-Leste is only 1-hour away from Darwin by air. They are one of our closest neighbours. Combined with its strategic position, Timor-Leste offers a gateway to Pacific and Asian markets. This young nation, though small, is rich in untapped human capital and possesses significant potential for growth in sectors like tourism, agriculture, and energy – particularly renewable energy. Its government is committed to an ambitious economic reform agenda to enhance investor confidence and streamline business operations.

(2) Commitment to Sustainability and Renewable Energy

The leadership of Timor-Leste has openly embraced the challenge of sustainability. This commitment is crucial as it aligns with global shifts towards green energy and sustainable practices. Investing in Timor-Leste’s renewable energy sector could yield significant returns not only financially but also in advancing global sustainability goals. The country’s potential in solar and oceanic energy is vast and remains largely untapped.

(3) Strengthening Regional Stability through Sustainable Development

Timor-Leste can be a model for a smooth transition to sustainability. As nations worldwide grapple with economic recovery post-pandemic, supporting emerging economies can lead to more balanced regional development and stability. Timor-Leste’s development can serve as a model for other nations in the region, showcasing how sustainable practices can be integrated into national development plans.

(4) Social Impact and Building Community in Timor-Leste

It is not merely about financial returns but about fostering a just and equitable world. Supporting this young democracy helps ensure that our closest neighbours have opportunities for education, healthcare, and economic prosperity. Socially responsible investments can support infrastructure projects that improve everyday life and help build a resilient society.

To view two business opportunities from Timor Leste, click HERE.

New Chairman of the CACCI Budget Commission

CACCI would like to announce the  appointment of CACCI President Mr. Peter McMullin AM as the new Chairman of the CACCI Budget Commission, replacing Mr. Morris Li. The appointment of Mr. McMullin has been unanimously endorsed by the CACCI Advisory Board.

Asia Pacific Green Alliance webinar for SMEs sustainability presented 23 May 2024

CACCI and Singapore Manufacturing Federation (SMF) presented the webinar on the “Green Alliance Initiative” on May 23, 2024.

Moderated by Peter McMullin AM, CACCI President, with Lennon Tan, SMF President and CACCI Vice President for Sustainability as panelist, the one-hour session featured Clement Teo, SMF Chief Sustainability Officer and Assistant Chief Executive as main presenter, sharing information on the newly launched Asia Pacific Green Alliance Initiative to empower Asia Pacific SMEs on their journey to sustainability.

SUMMARY

Mr. McMullin initiated the webinar by thanking his good friend Mr. Tan for inviting CACCI to be a founding member of the Asia Pacific Green Alliance (APAC GA).

The CACCI President also said that Small and Medium Enterprises (SMEs) need a project such as APAC GA to address the sustainability requirements being imposed on international trade.

On his part, Mr. Tan said that since the launching of the APAC GA in January 2024, the journey of many CACCI members has been directed towards a net 0 goal. He reiterated that his goal at the helm SMF is to lead Singapore manufacturers towards Industry 5.0 which in simple terms is “putting sustainability at the center” while simultaneously implementing digitalization and automation of industries.

Indeed, both Presidents expressed their goal of helping CACCI members on their sustainability journey to learn through good practices, guidance and collaboration, so that SMEs have resources to be successful in a greener world.

During his presentation, Mr. Teo argued for the necessity of embarking on the sustainability transformation. He said that Singapore’s focus on environmental issues is well known and as such, SMF took the lead in creating APAC GA to help Asian SMEs becoming more green.

He added that some policies on carbon tax are already in place and informed that SMEs will also need to monitor their own cost of energy consumption, thus SMEs need to consider electrical and waste management procedures, too.

He mentioned that the Singapore Exchange has implemented a mandatory rule on climate reporting by 2025 onwards. Such measures imply that companies supplying Multinational Corporations (MNCs) or listed companies will have to embark in some sort of reporting as well.

On the positive side, Clement said that it is possible to gain competitive advantage by embracing sustainability early and smartly. The plan is to find a cost effective solution that is scalable and based on expert advise.

Clement said that one building block on the APAC GA is the position of Chief Sustainability Officer (CSO) leading inside the organization. The CSO’s objective is to continue the corporate business in a sustainable way through training and good policing.

APAC GA wants to guide companies on their sustainability transformation, help them overcome the inertia, and then support them in the allocation of resources and usage of expertise to develop a comprehensive sustainability strategy.

One important aspect of the APAC GA is to help SMEs keep up with regulatory requirements that affect customers’ performance, market access and stakeholders’ demands.

Clement added that there are 3 key objectives. First is to future-proof the businesses of SMEs by helping them meet regulatory and customer requirements.

Second is to help business owners on their triple bottom lines: profitability, people welfare and planet conditions. Third is to help SME’s visualize their future in innovative and green ways through better products and/or services so that they can reach new and better markets and customers.

Clement recommended that the first practical step after the launching of the Asia Pacific Green Alliance in January of 2024 is to build talent and standards.

APAC GA is currently preparing two certification standards: Green Manufacturing (GM) and Green Business (GB) which will provide seal of approval based on trained assessors and auditors from recognized international companies.

The APAC GA plans to create training programs to establish a cadre of green consultants working with national chambers of commerce in the Asia Pacific region.

Building professional capabilities at the national chamber level will facilitate the SME’s path towards sustainability.

The copy of the presentation can be downloaded HERE.

The video recording of the presentation can be viewed at the CACCI YouTube channel below.

CACCI joins Asia Pacific Green Alliance as founding member

CACCI President Peter McMullin AM was excited to be back in Singapore last January as CACCI President to announce a collaboration with the SMF, the Singapore Business Federation (SBF), the Institute of Singapore Chartered Accountants (ISCA), and the China Council for Promotion of International Trade (CCPIT), in launching the Asia Pacific Green Alliance.

What is the Green Alliance?

Well, it’s a response to the fragmented sustainability landscape we currently navigate. Across nations, we encounter diverse standards, regulations, and approaches to sustainability. This diversity, while reflective of local priorities and contexts, creates a significant challenge, especially for small and medium enterprises (SMEs). Here’s why Peter so excited.

#1: The focus on SMEs.

It’s not a secret that Peter is a huge supporter of SMEs.

The World Bank found that ‘SMEs account for the majority of businesses worldwide and are important contributors to job creation and global economic development. They represent about 90% of businesses and more than 50% of employment worldwide.’

But despite their positive contribution to the economy they also play a key role in climate change.

A report by the OECD found that SMEs can contribute to up to 40% of Greenhouse Gas Emissions. A recent study by the International Chamber of Commerce places that figure at over 50%.

The conclusion is simple – there can be no Net Zero without SMEs. But unlike their larger counterparts like multinational or listed companies, SMEs often lack the resources or expertise to adapt and thrive amid these varying sustainability demands and legislation around the world.

This is why SMEs in the Asia-Pacific region have an important role. As highlighted by the United Nations, the Asia-Pacific not only houses over half of the global population, it is also a pivotal player in the world economy.

However, it faces significant environmental challenges that impact both its population and economic resilience. Our initiative, therefore, is not just timely but of paramount importance. Unless we equip SMEs with the skills, knowledge, and support to take on the climate change challenge, we won’t move the needle.

By leveraging the collective voice of SMEs, we will advocate for regulations that not only benefit the environment but also create a conducive ecosystem for SMEs to thrive sustainably.

#2: The focus on building capability & capacity

Most people, including business owners, know that they want to take action on climate change but often just don’t know where to start.

This initiative is a significant step towards democratising sustainability. By providing SMEs with the tools and resources they need to measure and reduce their carbon emissions, we are ensuring that sustainability is not just reserved for large corporations with significant resources.

It levels the playing field and empowers smaller businesses to contribute to a greener future. It will also help large businesses by providing suppliers along their supply chain with green credentials.

In recognition of the ever-evolving nature of global sustainability standards, the APAC Green Alliance will remain dynamic and adaptable. It will continuously update the various standards to stay in step with international developments and foster cross-border recognition.

Enhancing the capability and capacity of SMEs for sustainable development is not just a feel-good initiative; it’s a necessity for the future of our planet and our economies. By focusing on capability and capacity, we ensure that SMEs are not left behind in the global shift towards sustainability.

38th CACCI Conference will be held in Singapore on November 11-12, 2024

#3: The focus on relationships and collaboration

One country cannot solve this challenge alone. Focusing on relationships and collaboration is vital for launching the Asia-Pacific Green Alliance as it leverages the diverse strengths and resources of the region’s nations.

The Asia-Pacific region, characterised by varying economies, cultures, and environmental challenges, demands a unified approach to effectively combat climate change and promote sustainable practices. The Green Alliance is an invitation that extends to all Chambers of Commerce and Business Associations to join this growing movement. Our collective effort will be focused on nurturing sustainable growth among SMEs across the APAC region. CACCI President Peter McMullin is excited to work with new and familiar faces across the region.

#4: The momentum it builds

Peter couldn’t have planned the timing of this launch any better.

Last year, CACCI gathered in the historic city of Kathmandu, Nepal, for the 37th Annual CACCI Conference. The Conference was successful in bringing together government and business for key discussion in Sustainability, Entrepreneurship, and Trade under the theme ‘Helping business get SET for the future’.

Peter is indeed thrilled to share that the journey will continue in Singapore, where the 38th CACCI Conference will set the stage in November 2024. This next chapter is not just a location change; it’s a leap towards a greener future, spearheaded by the APAC Green Alliance.

From now until the conference, we will be able to spotlight the progress and impact made by the APAC Green Alliance and build upon the knowledge we have created. The conference is more than 7 months away, but we all sense excitement in the air.

#5: The focus on investing in the long-term

The Green Alliance is the work we do today, to create a better tomorrow, Peter argued. Focusing on long-term investments is crucial for the successful launch of the Asia-Pacific Green Alliance, as it underscores a commitment to sustainable development and environmental resilience.

By prioritising long-term over short-term gains, the Asia-Pacific Green Alliance can ensure that its initiatives are not only effective in the immediate future but also contribute to a lasting positive impact on the environment and the economies of its member nations. This Alliance is integral to building a resilient, sustainable future for the Asia-Pacific region and beyond. This can’t exist without building the next generation of leaders to build upon the work we create today.

So while Peter is excited about the progress, CACCI members should be also excited about the future business opportunities that will emerge on this initiative. Let’s bring this all together in 2024 as the year is shaping up positively.

CACCI President said that the launch of the Green Alliance is a step in the right direction and builds the momentum to bring into my Presidential period. Together, all CACCI members could lead the way in sustainable practices, setting an example not just for our region but for the global community.

This message is also a good opportunity to offer best wishes to the Singapore Manufacturing Federation for continued success and innovation as we embark on transforming SMEs locally and regionally, let us embrace the promising prospects and challenges of a sustainable SME sector.

CACCI President visits VCCI CEO Paul Guerra

On May 12, 2024, CACCI President Peter McMullin AM paid visit to Victorian Chamber of Commerce and Industry (VCCI) CEO Paul Guerra.

As a former VCCI President, Mr. McMullin AM has been proud to see how Paul has lead this very important organisation.

Both leaders discussed how the Confederation of Asia Pacific Chambers of Commerce and Industry (CACCI) could best support VCCI’s efforts in making next years ICC World Chambers Federation Congress the best yet.

Peter and Paul expressed their intention of bringing together people from all over the world, and particularly the Asia-Pacific on how we can create a just and prosperous future for us all.

McMullin AM was personally impressed with a number of new initiatives that VCCI has launched and is expanding upon including their hashtag#ChamberChange program that encourages and supports women on their ambitions to take on some of the most challenging executive jobs in Australia. We need more programs like this Peter said as he reiterated his objective of working closely with Paul and his team as we help business get SET for the future.

CACCI Chief of Staff to President McMullin visits the Kenya Chamber of Commerce and Industry (KCCI)

Chief of Staff to President McMullin, Mr. Stuart Mkojera-Thomson, recently had the privilege to visit with the Kenya National Chamber of Commerce & Industry (KNCCI).

KNCCI is hosting one of the globally recognised International Chamber of Commerce (ICC) Centre of Entrepreneurship (CoE). The ICC Centre of Entrepreneurship global programme was
established in 2020. The programme leverages the ICC network to help its partners access knowledge and expertise from across the world. The ICC Centre of Entrepreneurship network today spans 14 countries and four continents, helping SMEs increase their participation in global trade and build global competitiveness.

During the visit, Mr. Mkojera-Thomson met with a range of innovative and dynamic entrepreneurs including:

• Camino Ruiz who is adopting sustainable aquaculture practices to build a viable tilapia value chain helping ensure producers get their
  fair share.
• iSOKO Kenya who provides a web and mobile platform for women traders. This platform is a regional digital market place for the East Africa region. It also holds important market information and business management tools.
• SOINHoney which is a natural honey business that also focuses on health and well being. Honey was and still is used by households worldwide to treat wounds and common illnesses.

Special thanks go to KNCCI Vice President Mr. Mustafa Ramadhan and Virginia Waruingi MCIM for welcoming CACCI and hosting such an important meeting.

CACCI and SMF Hold Initial Preparatory Meeting for the 2024 Conference

CACCI President Mr. Peter McMullin AM and CACCI Secretariat officers on February 1 met virtually with Mr. Lennon Tan, President of the Singapore Manufacturing
Federation (SMF) and his team for an initial discussion on preparations for the 38th CACCI Conference to be co-organized by SMF on November 11-12, 2024 in
Singapore.

More details on the 2024 Conference – such as the theme, the topics, and the program, among others – will be discussed and finalized during the Planning Committee Meeting to be held online on March 5 with the participation of other CACCI officers and members.

CACCI President with Australian Ambassador in Kathmandu

CACCI Joins APAC Green Alliance Initiative

The Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI) has recently signed a Memorandum of Understanding (MOU) with four other organizations to form an alliance
of Asia-Pacific (APAC) Trade Associations and Chambers of Commerce.

The alliance will have the common objective “to help small and medium enterprises in the Asia-Pacific region to embark on their sustainability transformation, sharing of best practices, standards
development, advisory support, recognition, and collectively striving towards a net-zero goal and be future ready for Industry 5.0”.

Aside from CACCI, the other MOU signatories include the Singapore Manufacturing Federation, the Singapore Business Federation, and the Institute of Singapore Chartered Accountants.

The alliance intends to collaborate in the following areas:

• Green Excellence for Manufacturing (GEM) Mark for the manufacturing sector within the APAC region;
• Green Excellence for Business (GEB) Mark for non-manufacturing companies within the APAC region;
• Training of consultants to provide consultancy services for GEM and GEB Mark
• Training of assessors to provide assessment services for GEM and GEB Mark

The alliance also seeks to promote and seek recognition of the GEM Mark by national trade associations and chambers of commerce on the manufacturing sector within each Party’s country
and/or GEB Mark by national trade associations and chamber of Commerce of the non-manufacturing sector within each Party’s country.

To help achieve these objectives, the MOU signatories’ plan is to establish the APAC Green Alliance Association.

The MOU signing ceremony took place during the Manufacturing Day Summit 2024 organized by the Singapore Manufacturing Federation on January 18, 2024 in Singapore. Signing on behalf of CACCI was CACCI President Mr. Peter McMullin AM.

The Summit featured keynote speakers who shared their insights towards industry 5.0, AI, and more, and exchanged ideas on how to stay competitive and embrace emerging technologies.

CACCI was represented by President Mr. Peter McMullin and Mr. George Abraham, Chairman of the SME Development Council of CACCI.

Mr. McMullin spoke on “Fostering a Sustainable & Resilient Manufacturing Ecosystem: Strategies for Industry Collaboration & Success”.

In his remarks, Mr. McMullin cited the importance and timeliness of the APAC Green Alliance, which he cited as “an innovative response to the fragmented sustainability landscape we currently navigate. Across nations, we encounter diverse standards, regulations, and approaches to sustainability. This diversity, while reflective of local priorities and contexts, creates a significant challenge, especially for small and medium enterprises (SMEs). Unlike their larger counterparts like MNCs, local large enterprises or listed companies, SMEs often lack the resources or
expertise to adapt and thrive amid these varying sustainability demands.

Mr. McMullin said that The APAC Green Alliance, therefore, is not just timely but of paramount importance and is designed to empower SMEs on their sustainability journey.

He called on CACCI members to join “this new and exciting alliance. Our collective effort will be focused on nurturing sustainable growth among SMEs across the APAC region.” He looked forward
eagerly to the support and collaboration in this transformative endeavor for our manufacturing sector. Mr. McMullin pointed out that together, “we can lead the way in sustainable practices, setting an example not just for our region but for the global community”.

Beyond the Medal: The Deeper Meaning of the Order of Timor-Leste

In December 2023, CACCI President Peter McMullin had the privilege of receiving the Order of Timor-Leste. The ceremony was presided over by Nobel Peace Prize Laureate, the current President of Timor-Leste and his long-term friend Dr Jose Ramos-Horta.

The magnitude of the occasion appeared surreal as he reflected on the journey of his life, the decisions he has made, and the people who have supported him.

At the moment he realized he was bleessed by having his family alongside, his wife Ruth, sister Nani and his children; Charlie, his eldest who has 2 beautiful children, Ben his youngest with his partner Fleur. There in spirit, his middle boy Paddy and his partner Maddy.

That family moment let him to reflect on the kind of world the next generation like his son’s and their children will inherit. The world is changing, and Peter wondered what challenges and triumphs lay ahead for them.

Here’s what he thought about.

(1) We all have a role to play.

Complexity is solved through collaboration.

All the greatest innovations in the world have come from a team of people collectively working together. Whether it’s the internet, email, or cars and planes, these inventions would not be possible without having a team helping solve the hardest challenges of our time.

Climate change and sustainability are no different.

Addressing climate change requires a multi-faceted approach, engaging experts, policymakers, businesses, communities, and individuals. It’s a challenge that spans geographic and political boundaries, demanding a global response.

Just as a single part of an engine can’t make a car move, a single effort or idea can’t solve climate change. It requires a coordination of actions, innovations, and commitments. His son’s and their grandchildren will all feel the impacts of climate change, and they will all have different roles to play. Productive intergenerational collaboration is the only way forward.

Blame, resentment and pity might feel good in the moment, but they never serve us well in the long run. The message is clear: we all have a contribution in ensuring a sustainable future.

It’s a narrative that we write together, a journey we undertake as a collective, with the shared goal of a healthier, more sustainable planet for generations to come. Peter also claims that his award was a team effort because he couldn’t have done it without the people around him. Peter said that “great things come to those who work together.”

(2) We don’t need business, we need to change our identity.

The cost of our new life is the death of our old life.

New mental models, economic theories and different ways of doing business are required for this shift into sustainability. As Albert Einstein once said, “we can’t solve problems by using the same kind of thinking we used when we created them.” This transformation demands a radical reimagining of our values or perhaps more importantly, our priorities.

It means embracing a culture that prioritises long-term well-being over short-term gains, fostering collaboration over competition, and valuing our shared environment above individual profit. Every business will need to go through an identity change. We must cultivate a new ethos where success is measured not just in economic terms, but in social and environmental impact as well. We don’t need to just care for the environment. We all must become environmentalists.

Peter’s family with Dr Jose Ramos-Horta after just receiving the Order of Timor-Leste

(3) Change will be the only constant

Peter argues that we are living in a time of high uncertainty. From geopolitical instability to the rising cost of living, we are in for a decade of change.

In this ever-shifting landscape, even smaller nations like Timor-Leste are not immune to the global waves of transformation.This young nation, which has experienced a whirlwind of rapid change over the last three decades, is standing at another critical juncture.

The change that looms on the horizon is one of sustainability. A concept that is not only vital for its ecological and economic health but is also crucial in ensuring a stable and prosperous future for its people.

But while nations shift, so will its people. At this point, Peter says that Timor-Leste is an example of the type of change that every country will have to confront at some stage or another. I applaud the leadership of Timor-Leste for embracing this change with open arms.

Change provides opportunity for improvement. In the face of these challenging times, we have the power to shape our destinies and create a world that is more resilient, inclusive, and sustainable for generations to come.

(4) Investing in the next generation of leaders

Uncertainty and change requires one thing: investment.

These future leaders are not just inheritors of our present; they are the architects of tomorrow. To prepare them for this monumental task, we must provide them with the tools, skills, and perspectives that will enable them to navigate and shape a world that is constantly in flux.

Investing in education is a foundational step. Education is the great leveller. It unlocks potential. Provides equality of opportunity. But education is not just limited to the classroom. In the age of the internet, networks, community and alumni groups all play an important role in peer-to-peer learning.

There are an abundance of ways to teach and learn these days Peter said. He is heavily invested in the idea that a holistic approach to education ensures that future leaders not only gain knowledge from textbooks but also benefit from the wealth of experiences and insights shared by their peers and mentors.

As Peter returned from Timor-Leste, he certainly felt the love and a sense of achievement. Yet, the work is not over. Just as he celebrated and nurtured the bonds within his family, he said that we must also recognise the interconnectedness of our world and the need to sustain it for future generations.

Sustainability, at its core, is about ensuring that the love, joy, and beauty we experience with our loved ones today can be passed on to our children and grandchildren in the years to come. And that’s a future that Peter wants to invest in.

Nepal Prime Minister receives CACCI Officers

On the morning of November 7, 2023, CACCI Officers led by President Mr. Peter McMullin as well as officers of FNCCI headed by President Mr. Chandra Pradad Dhakal and former FNCCI President and current CACCI President Mr. Pradeep Kumar Shrestha, made a courtesy call on Nepal Prime Minister Pushpa Kamal Dahal Prachanda at his residence.

During the visit, the Prime Minister appealed to business leaders from the Asia-Pacific region to consider investment opportunities in Nepal, highlighting the political achievements of Nepal and emphasizing the country’s path towards prosperity. He assured the visiting CACCI officers that Nepal is actively inviting both national and international investments, asserting that it is an opportune time for investment in Nepal, with the government prepared to provide comprehensive support.

CACCI President Mr. Peter McMullin AM pledged CACCI’s support for expanding investment and enhancing economic business relations between Nepal and CACCI member countries. He expressed his satisfaction on the successful hosting of the Conference in a short time frame and affirmed the commitment of CACCI member chambers to support Nepal’s development efforts.

FNCCI President Mr. Dhakal stated that the 37th CACCI Conference had a strong focus on Nepal’s economic development, and expressed his high hopes of its potential impact on the country. He also assured that FNCCI would take the initiative to attract investments and technology from the Asia-Pacific region through CACCI.

CACCI President joined ACCI Gala Dinner

On the evening of November 30, 2023, CACCI President Peter McMullin AM had the pleasure of representing the Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI) at the annual Australian Chamber of Commerce & Industry (ACCI) Gala Dinner in Canberra.

Representing 26 countries across the region as CACCI President Mr. McMullin got to listen to and spend some time with the Acting Prime Minister Richard Marles. He expressed the opportunity that lay ahead of us within the Asia Pacific.

300 industry leaders joined CACCI President as they heard about the opportunity of the renewable energy revolution, the need for skilled migration and important trade ties with the world. It was a great evening and Mr. Peter McMullin congratulated ACCI CEO Andrew McKellar and President Nola Watson for the opportunity as we look to support Australian business to get SET for the future.

Successful CACCI Presidential Visit to Taiwan on 17-18 May 2023

CACCI President Mr. Peter McMullin AM and representatives from various CACCI Primary Members visited Taipei on May 17-18, 2023 to meet with officers of CACCI Primary and Affiliate Members in Taiwan – namely, the Chinese International Economic Association (CIECA) Taiwan, the Chinese National Association of Industry and Commerce (CNAIC) Taiwan, and the Importers and Exporters Association of Taipei (IEAT) – as well as to make courtesy calls on key government officials of Taiwan and other organizations involved in promoting trade and investment cooperation between Taiwan and other countries. The CACCI delegation also visited local business enterprises engaged mainly in the ICT sector to obtain information on their products and services and other related activities and explore possible areas of business cooperation.

It was the first Presidential visit led by Mr. McMullin since he assumed the CACCI Presidency in November 2022 in Melbourne, Australia. The Presidential visits are intended to give the CACCI President and CACCI members the opportunity to gather first-hand information on the business situation in the host country; further build up the image of CACCI by making courtesy calls on key government officials; and meet business leaders in the country, particularly those from industries or sectors that the host country wishes to promote.

The two-day visit provided the delegation the opportunity to strengthen ties between CACCI and Taiwanese government officials and businessmen, and to seek their support for the Confederation and its activities. During their various meetings with private and government sector representatives in Taiwan, Mr. McMullin and members of his delegation introduced CACCI, elaborating on the Confederation’s objectives and what it does to encourage cooperation among businessmen in the region. They also exchanged views on the local business conditions; areas of opportunities for business, trade and investment; and policies set in place by the Taiwanese government to attract foreign investors.

The CACCI delegation was composed mostly of chamber executives and businessmen from eight CACCI member countries looking at possible business and investment opportunities or considering expansion of their existing businesses in Taiwan, and to invite them to consider their respective countries as a Taiwanese investment destination. A complete list of the Taiwan visit delegation is presented at the end of the report.

The program of the visit was arranged by CIECA through its Chairman Mr. Henry Kao, with the support of the CNAIC and IEAT.

A chronology of the CACCI President Peter McMullin AM to Taiwan

MAY 16, 2023

Members of the delegation who arrived the day before the official start of the visit attended the dinner hosted by Mr. Harvey Chang, Chairman of the CACCI Advisory Board and CACCI President Emeritus. Mr. Chang served as CACCI President for two terms from 2010 to 1014.

The dinner provided the attendees the opportunity to introduce themselves to each other and to know more of their businesses and their other interests, thereby setting the stage for more camaraderie over the next two days. Mr. Chang also took the occasion to present tokens of appreciation to Mr. McMullin and to CACCI Former President Mr. Jemal Inaishvili from Georgia.

CACCI Vice President Mr. Khurram Sayeed from Pakistan also presented Mr. McMullin a CACCI pin which he had made in Pakistan.

MAY 17, 2023

Courtesy Call on the Ministry of Economic Affairs

The delegation was warmly received by key officers of the Ministry of Economic Affairs (MOEA) and the Bureau of Foreign Trade led by Deputy Minister Chern-Chi Chen.

In his welcome Remarks. Deputy Minister Chen informed the visitors that the MOEA is responsible for formulating policy and laws for industry and trade, foreign direct investment, energy, minerals, measurement standards, intellectual property, and state-owned enterprises.

He also pointed out that the global environment is currently faced with many political challenges and that the support of the chambers of commerce is needed in the effort to deal with these challenges. He said that local business groups such as CIECA and CNAIC have been doing their part in strengthening Taiwan’s foreign relations and implementing the Taiwanese government’s trade policies aimed at promoting and stabilizing trade relations with other countries, including China.

Deputy Minister Chen likewise stressed the ongoing efforts of his government to expand relations with its ally countries including the US, the EU, Japan, Southeast Asian countries, South Asian countries, Australia and New Zealand.

In response, Mr. McMullin thanked the MOEA for the strong support that the Taiwanese government has extended CACCI over the years. He also pointed out that:

(a) CACCI was established in 1966 – with its organizational meeting held in Taipei – to provide a platform for networking and cooperation among businessmen in the region. Taiwan – through CNAIC under the chairmanship of the late Dr. Koo Chen-Fu – was one of the founding members.

(b) Under the initiative of the late Dr. Jeffrey L. S. Koo – who was Past CACCI President – Taiwan offered in 1981 to host the Permanent Secretariat of CACCI, making it one of the first and few regional organizations with headquarters in Taiwan.

(c) CACCI’s current membership includes 28 national chambers of commerce and industry from 26 Asian countries and independent economies – including CNAIC and CIECA from Taiwan as Primary Members and the Importers and Exporters Association of Taipei (IEAT) as Affiliate Member.

(d) CACCI has working relationships with other regional and international organizations such as the International Chamber of Commerce, the Eurochambres, the ASEAN Business Advisory Council, the APEC Business Advisory Council, the Pacific Alliance, the Indian Ocean Regional Association, the B20, the World Trade Organization, the SAARC CCI, and the Asian Development Bank, among others.

(e) CACCI has consultative status with the United Nations and a member of the Conference of Non-Government Organizations (CoNGO) under the UN umbrella.

(f) Taiwan – through CNAIC, CIECA, and IEAT – has always taken an active role in the Confederation. Among others:

• Taiwan has hosted CACCI six annual gatherings (Council Meetings and Conferences in 1966, 1980, 1984, 1988, 2006 and 2016), two CACCI Summit Meetings (2011 and 2016), and one Presidential Visit in 2018.
• CACCI has had three Presidents from Taiwan – Dr. C. F. Koo, Dr. Jeffrey L. S. Koo, and Mr. Harvey Chang.

(g) Given the geographical scope of its membership, CACCI provides a good platform to promote Taiwan’s New Southbound Policy in its 18 target countries (12 of which are within the geographical scope of CACCI’s membership) , providing the Taiwanese business community the opportunity to reach out into the regional market, as well as for the Taiwanese government to promote its trade and investment policies in the region.

(h) While in Taipei, the CACCI delegation will meet with representatives of local companies engaged mainly in ICT activities to exchange information on mutual interest and explore possible areas of business cooperation.

Mr. McMullin expressed his hopes that Taiwan – through CIECA, CNAIC and the IEAT – will remain actively involved in the Confederation, stressing that CACCI certainly needs Taiwan’s continued strong representation in the group, given the important role that the country’s economy and business sector play in the development of the Asia-Pacific region.

He also Informed Deputy Minister Chen that the 2023 CACCI Conference will be held in Phnom Penh, Cambodia on October 30-31, with the Cambodia Chamber of Commerce as host, pointing out that the event will provide another opportunity for CACCI members and other businessmen in the region to exchange views on issues of current interest to the business sector. He said that he is hoping there will be another good turnout of Taiwanese participants in this year’s Conference.

He also explored with the Deputy Minister the possibility that Taiwan – through the initiative of CNAIC, CIECA and IEAT and the support of the Taiwanese government – can host another CACCI Conference in the near future, emphasizing that this will provide CACCI members from other countries the opportunity to:

1. meet with local businessmen and policymakers and gain first-hand information about the current economic and business condition in Taiwan and the market opportunities it offers;
2. learn more about the Taiwan government’s current trade and investment policies and the industry sectors in which foreign investors are being encouraged to consider; and
3. explore possible areas of economic cooperation, joint ventures and other forms of business collaboration between Taiwan and other countries in the region;

During the Q&A session, the following points were raised by some members of the CACCI delegation:

(a) Mr. Khurram Sayeed from Pakistan informed the Deputy Minister that the current level of bilateral trade between Pakistan and Taiwan is negligible, with Pakistan’s trade with Taiwan representing only 0.1% of the latter’s trade.

(b) He said that for bilateral trade to increase, it is important to improve people-to-people contact, which can be done by easing visa applications between the two countries. He cited the current difficulty for Pakistani businessmen to secure Taiwanese visa. However, he noted that for the CACCI Presidential visit to Taiwan, the Pakistani delegates obtained their visa easily due to the assistance and facilitation of CACCI.

(c) Mr. Sayeed therefore proposed the possibility of enabling CACCI to help facilitate the visa issuance process through setting up a mechanism with the Taiwanese government for this purpose.

(d) Deputy Minister Chen concurred with Mr. Sayeed on the importance of more people-to-people contact to improve trade between two countries. He suggested that CACCI can help request the Pakistani government to send a message to the Taiwanese government on this matter, and he offered to broker the process.

(e) Mr. Atif Iqbal from Pakistan said that the strength of multilateral relations depend much on the ease and cost of doing business. He pointed out that Pakistan has many attractions as an investment destination such as land and talent availability in the country and a young population (some 60% of its people are below 30 years of age), and that it offers many opportunities for joint ventures between Pakistan and Taiwan (for instance, in the pharmaceutical industry).

(f) Deputy Minister Chen remarked that Taiwan does need start-ups in the wind and solar energy, which is increasingly becoming a major energy source of the island.

(g) Mr. Dennis Hu, Chairman of the CACCI ICT Council, identified possible areas of collaboration between Taiwan and other countries (including Pakistan) such as in the area of Smart Healthcare (e.g., intelligent hospitals), Smart Energy System (e.g., energy allocation), and in the development of young talents (e.g. ,digital skilling).

(h) On the issue of young talent development, Deputy Minister Chen said that Taiwan can offer small-scale training programs for specific countries.

(i) Mr. McMullin pointed out that Australia has a very developed MICE program and can therefore collaborate with Taiwan in this area. He also cited the important role of chambers as merchants of peace, taking the lead in addressing the supply chain issues, reforming the world training system, digital transformation of businesses, ESG issues, and promoting SMEs as well as young and women entrepreneurs.

(j) Deputy Minister agreed on the importance of facilitating the digital transformation of businesses, and noted that in this regard, the Taiwanese government has set up the Ministry of Digital Affairs (MODA) to help create a policy environment that will facilitate the digital transformation of businesses (e.g., develop benchmarks, content control, etc.).

(k) Dr. G. J. Lee, Deputy Director-General of the Bureau of Foreign Trade, Taiwan urged the CACCI delegation to take advantage of CACCI’s platform to visit more frequently, and for using Taiwan as a platform for reaching out into the regional market.

(l) Mr. Jemal Inaishvili informed the meeting that while his country Georgia is a relatively small market, there are representatives from big Taiwanese shipping companies operating in the country such as Evergreen, since Georgia provides good access to the European market. He therefore considered Tbilisi, Georgia as a new frontier for Taiwan.

(m) At the end of the meeting, Mr. McMullin presented a Testimonial of Appreciation to MOEA for receiving the CACCI delegation and providing them the opportunity to have a dialogue on issues of mutual interest. In exchange, Deputy Minister Chen also presented a gift to Ms. McMullin as a token of appreciation for visiting Taiwan and making a courtesy call on the MOEA.

Guided Tour of the CTBC Financial Park

From the MOEA, the delegation proceeded to the CTBC Financial Park, which is the headquarters of the CTBC Financial Holding, the company founded originally by the Koo family, including the late Dr. Jeffrey L. S. Koo, former CACI President and one of the pillars of the Confederation. The CTBC Financial Park, or Chinatrust Commercial Bank Headquarters, is a skyscraper office complex located in Nangang District, Taipei, Taiwan.

Construction of the complex began in 2010 and it was completed in 2013. The complex consists of three towers with a total floor area of 266,290 m².

The delegation was given a brief introduction on the CTBC Financial Park and later visited the CTBC Museum, where they were provided information on the history and founders of CTBC, its development and growth into what it is now – the biggest private commercial bank in Taiwan and considered the most international among the Taiwanese commercial banks with presence in many countries in Asia, Europe and the US.

Luncheon Hosted by Former Chairman of the CACCI Budget Commission

Following the guided tour, the visitors went up to the 19th Floor of the CTBC Financial Park for lunch hosted by Mr. Steve Hsieh, former Chairman of the CACCI Budget Commission.

During lunch, Mr. Hsieh, who also serves as Chairman of the Taiwan Lottery Corporation, handed out three sets of complimentary lottery scratch cards to each delegate. Four of the delegates won prizes ranging from 200 NTD to 500 NTD.

At the end of the meeting, Mr. McMullin presented a Testimonial of Appreciation to Mr. Hsieh for warmly receiving and hosting lunch for the CACCI delegation, and for giving them a guided tour of the CTBC Financial Park.

Courtesy Call on National Development Council

After lunch, the delegation went on for a courtesy call on the National Development Council (NDC), where they were received by NDC officers led by Minister Kung Ming-Hsin and Ms. Connie Chang, Director-General of the Department of Overall Planning.

During the meeting, the visitors learned that the NDC is the policy-planning agency of the Executive Yuan of the Republic of China. It has various departments covering Overall Planning, Economic Development, Social Development, Industrial Development, Human Resources Development, National Spatial Planning and Development, Supervision and Evaluation, and Regulatory Reform.

The CACCI visitors learned that since 2016, Taiwan has initiated development policies and activities covering the three major areas of industrialization, Smart City development, and Digitalization. For instance, the country has hosted events on smart city solutions.

The NDC officials pointed out that in the year 2018, the world saw the beginnings of China-US tensions, the onset of Covid pandemic in 2019 which impacted on the global value of supply chain and necessitated supply chain restructuring.

The NDC also underscored the importance of CPTPP for Taiwan to be part of regional economic integration and called on other countries, including those that are within the geographical scope of CACCI’s membership, to support Taiwan’s commitment to join the CPTPP.

For his part Mr. McMullin underscored the SET principle that he intends to pursue during his CACCI Presidency under the general theme of “Chambers of Commerce: Getting Business SET for the Future,” namely:

(S) Sustainability is critical for SMEs to gain a competitive advantage in today’s market, to be able to manage business risks, grow their brand and enhance their access to capital.

(E) Entrepreneurship and particularly inclusive entrepreneurship supports people with new ideas to solve some of our most entrenched challenges. By supporting entrepreneurs embrace new technologies, support diverse groups of entrepreneurs and allow for innovation to flourish, new business models emerge to move the region toward a truly just economy.

(T) Trade support is a critical service Chambers provide to the business community. Trade not only helps business supply the world with the goods and services we all desire, it also builds and maintains cross border relationships. Through this work Chambers are truly strengthening global multilateralism and in-turn global peace.

Mr. Sayeed reiterated the same points he raised during the courtesy call on the MOEA, namely, the need to ease visa issuance in order facilitate person-to-person contact, using CACCI representative in Pakistan to help facilitate and issue visa recommendation for Taiwan, Pakistan’s advantage of having a young population, and extending an invitation to the Taiwanese government to visit Pakistan to get first-hand information on the country’s business, trade and investment opportunities.

The NDC conveyed an invitation to young Pakistanis to visit and study in Taiwan – taking advantage of the Taiwanese government’s current policy of expanding scholarships program to international students – and obtain training in such sectors as ICT, semiconductor, software development and textile industry, among others. Taiwanese delegation (perhaps led by CIECA, CNAIC and IEAT) can also be organized to Pakistan to discuss and explore possible collaboration in important industries such as renewable energy and biomedicine.

Mr. Atif Iqbal from Pakistan suggested the possibility of establishing a Business Council between Pakistan and Taiwan as a vehicle for further increasing economic, trade and investment cooperation between the two countries.

At the end of the meeting, Mr. McMullin presented a Testimonial of Appreciation to NDC for receiving the CACCI delegation and providing them the opportunity to have a dialogue on issues of mutual interest.

Courtesy Call on the Ministry of Foreign Affairs

The CACCI group proceed to make a courtesy call on the Ministry of Foreign Affairs (MOFA) where they were welcomed by MOFA officers led by Deputy Minister Tien Chung-kwang.

Deputy Minister Tien said that Taiwan is proud to have the CACCI’s Secretariat set up in Taiwan as it provides them an effective channel to reach out into CACCI’s member countries in the region and beyond as well.

He informed the delegation of the humanitarian assistance that Taiwan has extended to countries that need it, such as those affected by the Ukraine-Russia conflict. He added that Asia is a very important region since some 50% – 60% of energy and food supply sail across its waters. The current fragile situation brought about by the current challenges should serve as a catalyst for governments and businesses to work together to address these challenges.

The Deputy Minister also cited Taiwan’s New Southbound Policy which he said has been setting in place the right policies for improving trade relations, people connection, and training of students and young people. He further sought the support of CACCI member countries for its bid to join the CPTPP as its participation in the agreement is important for Taiwan and is also expected to benefit other Asian countries.

Mr. McMullin mentioned the same points he raised during the delegations’ meeting with previous government agencies, namely: (a) the important role played by Taiwan in the activities of CACCI’s ; (b) the SET principle he plans to follow during his CACCI presidency; (c) the support of CACCI in addressing the challenges faced by Taiwan as well as its application for CPTPP membership; and the (d) important role played by chambers in general as merchants of peace through its continuous effort to conduct dialogue for peaceful relations through business.

Mr. Sayeed raised the same points he mentioned during the courtesy call on the previous government office, namely, the need to ease visa issuance in order facilitate person-to-person contact, using CACCI representative in Pakistan to help facilitate and issue visa recommendation for Taiwan with the endorsement of MOFA, Pakistan’s advantage of having a young population, and extending an invitation to the Taiwanese government to visit Pakistan to get first-hand information on the country’s business, trade and investment opportunities.

In response, the Deputy Minister said that as a short-term solution to the visa issue, he expressed his willingness to personally facilitate visa approval for Pakistani businessmen visiting Taiwan. But he cited the need for a long-term solution, which is a matter that needs to be discussed between the two governments in the future. He adds that Taiwan totally appreciates the potential for greater economic relationship between Pakistan and Taiwan and should therefore need to look at how to improve mobility of businessmen between the two countries.

Mr. Atif Iqbal from Pakistan also reiterated the points he raised previously with the other government offices visited, and once again suggested the possibility of establishing a Business Council between Pakistan and Taiwan as a vehicle for further increasing economic, trade and investment cooperation between the two countries. He further mentioned possible cooperation in the healthcare sector, such as the implementation of a borderless doctor program similar to that of SAARC. He said that there are currently 400 active pharmacies in Pakistan which can work with Taiwan, which could be a huge market for pharmaceutical products from Pakistan.

The Deputy Minister cited the importance of medical connectivity. In this regard, he mentioned the One Country, One Centre Program of Taiwan, under which mobile teams can inspect the situation in other countries such as Tuvalu every two to three months. He recognized the importance of the cooperation of doctors, the availability of machines for remote places, and smart health care system for remote consulting diagnosis, state-of-the-art diagnostic system, and tele-surgery. He said that as a starting point, Taiwan and Pakistan can have exchange visits for teams of specialists or pharmaceutical representatives.

Mr. Inaishvili expressed the group’s appreciation for the help extended by Taiwan to countries that were impacted heavily by the Covid pandemic. He acknowledged the important role of Taiwan in being the first country to notify the world of the onset of the pandemic in late 2019. He also cited the strategy of some countries of weaponizing trade. For instance, when Australia started an investigation on the source of Covid, China was antagonized and in retaliation, blocked the import of red wine from Australia.

Mr. Conrad Lee from Kowloon Chamber of Commerce (KCC) said that KCC aims to serve as a bridge between Hong Kong, China and Taiwan. However, this has been made a little more difficult since Hong Kong has changed a lot in recent years, affecting Taiwan – Hongkong relationship. He pointed out that if the system is not free, business cannot be free.

At the end of the courtesy call, Mr. McMullin presented a Testimonial of Appreciation to MOFA for receiving the CACCI delegation and giving them the opportunity to have a dialogue on foreign policy issues and other matters of mutual interest.

Meeting with Chinese National Association of Industry and Commerce, Taiwan (CNAIC)

The delegation then proceeded to the headquarters of the Chinese National Association of Industry and Commerce, Taiwan (CNAIC), a CACCI Primary Member in Taiwan, where they were received by CNAIC officers and members headed by Chairman Mr. Thomas T. L. Wu.

In his Welcome Remarks, Mr. Wu congratulated Mr. Peter McMullin on his election as CACCI President during the CACCI Conference held in November 2022 in Melbourne, Australia. He also praised Mr. McMullin for having been responsible for the recent admission of Singapore Manufacturing Federation (SMF) as the newest Primary Member of CACCI.

The delegation learned from Mr. Wu that the CNAIC was founded in 1952 as the first nationwide business organization. Many of its former Chairmen had taken active roles in CACCI, including the late Dr. Koo Chen-Fu and Dr. Jeffrey L. S. Koo. With a current membership of approximately 1,100 members affiliated with large corporations as well as SMEs, the CNAIC today provides regular financial advice to the government on behalf of the business community; promotes international industrial cooperation and cross-strait economic and trade exchanges; strengthens member services, organizes economic and trade-related activities and provides the latest business information; and provides latest information on global economic trends.

In response, Mr. Peter McMullin AM thanked Mr. Wu and its key officers and members for taking time from their busy schedules to meet with the CACCI delegation from several countries. He took the opportunity to introduce CACCI, underscoring the role it plays as a platform for people-to-people contact to improve inter-relationships – which is important not only for the Confederation but for the region as a whole in order to create a business environment conducive for business cooperation. He expressed his appreciation to Taiwan – as represented by CNAIC and other Taiwanese members in Taiwan – for recognizing the value of business relationships through its support of CACCI.

Mr. McMullin said he considered businessmen as merchants of peace because of the role they play in improving the economic standing of communities around the globe and therefore ensuring the absence of any conflicts. He mentioned that CACCI follows the SET concept – Sustainability, Entrepreneurship, and Trade – as the guiding principle for CACCI to make it well-positioned to address many challenges and issues faced by the global market environment.

He also took the opportunity to invite CNAIC and its members to send a big delegation to the 37th CACCI Conference to be held in Cambodia on October 30-31, 2023.

During the Q&A session, the following discussions took place:

(a) Mr. Sayeed once again cited the need to ease visa issuance in order facilitate person-to-person contact; stressed Pakistan’s advantage of having a young population; invited CNAIC members to visit Pakistan to get first-hand information on the country’s business, trade and investment opportunities and gain access to thousands of FPCCI members and set up businesses in Pakistan particularly in import-substituting industries, thereby helping solve the foreign reserves problem of Pakistan.

(b) Mr. Atif Iqbal from Pakistan noted that Pakistan exports pharmaceutical products to other countries with the Pakistani government’s push to promote the export of medicines, and encouraged Taiwanese government and businessmen to consider working with Pakistan in improving the standards of pharmaceutical production in order to meet international requirements. He also cited the opportunities in the construction industry of Pakistan, which currently imports building materials from China and Europe. Taiwan can serve as an additional source of construction products for Pakistan.

(c) CNAIC Chairman Mr. Wu informed Mr. Iqbal that the CNAIC has established a Committee that looks at Smart Health Care Program. This Committee can work with FPCCI in exploring possible areas of cooperation. He also informed the visitors that Taiwan is increasingly becoming a Muslim-friendly country, providing facilities and services that cater to the needs of Muslims (e.g., prayer rooms at the airport, restaurants that serve halal food, and the presence of a Muslim mosque in Taipei that has received leaders from Muslim countries in the past).

Dinner hosted by Chinese National Association of Industry and Commerce, Taiwan (CNAIC)

The CACCI delegation was then hosted by the CNAIC in a dinner held at Palais de Chine Hotel in a restaurant that had been awarded the three-star Michellin recognition, the only one given such recognition among the restaurants in Taiwan.

At the end of the dinner, Mr. McMullin and Mr. Wu exchanged tokens of appreciation for the opportunity to meet and exchange ideas on matters of mutual interest.

MAY 18, 2023

Visit to MiTAC Information Technology Corporation

The second day of the two-day program started with a visit to MiTAC Information Technology Corporation where they were received by key officers of the company headed by Chairman Dr. Robert Ting.

The visitors were first given an introduction on the company, including its history, its growth and development over the years, its milestones, and the range of its current product lines. Among others, they learned that MiTAC Information Technology Corporation is a professional IT solution provider, providing total solutions from edge to cloud with advanced R&D, TCO and worldwide operations, and with an annual revenue of about US$90 Billion.

They were further informed that the company’s current IT solutions cover Smart Transportation, Smart Enterprise, Smart Security, Smart Government, Smart Education, Smart Manufacturing, and Smart Finance. The visitors were also given the opportunity to experience virtually each of these IT solutions.

The delegation later visited the Innovation and New Product Centre of the company where they learned some of its recent and upcoming products and IT solutions, as well as the projects that they been commissioned to develop and implement in other countries such as the Philippines, Indonesia, and India.

Some members of the delegation expressed interest to consider possible areas of cooperation with MiTAC Information Technology in developing and implementing IT solutions in the various areas of expertise of the company.

At the end of the visit, Mr. Jemal Inaishvili presented a Testimonial of Appreciation to MiTAC Chairman Dr. Ting for receiving the CACCI delegation and giving them the opportunity to learn more about the company and possible areas in which they can cooperate with CACCI member countries in providing IT solutions.

Visit to Delta Electronics, Inc.

From MiTAC Information Technology, the delegation proceeded to the headquarters of Delta Electronics, Inc., a Taiwanese electronics manufacturing company where they were welcomed by its key officers led by Senior Consultant Mr. R. T. Tsai.

The visitors were informed that Delta Electronics was founded in 1971 primarily to serve as a global provider of power and thermal management solutions, and that:

(a) The company focuses on addressing key environmental issues such as global climate change. As an energy-saving solutions provider with core competencies in power electronics and automation, Delta engages in business categories that include Power Electronics, Automation, and Infrastructure.

(b) Delta offers some of the most energy efficient power products in the industry, including switching power supplies with efficiency over 90%, telecom power with up to 98%, and PV inverters with up to 99.2% efficiency.

(c) The company regularly invests over 8% of its annual sales revenues in R&D and has worldwide R&D facilities in China, Europe, Japan, Singapore, Thailand, and the U.S.

(d) The company has approximately 200 facilities worldwide including manufacturing, has an annual turnover of US$13 Billion, and that it has regional market centers in Thailand and the Middle East region.

The delegation was also shown the company’s wide range of products covering the following areas:

(1) Industrial Automation Solutions
(2) Building Automation Solutions
(3) Data Center Solutions
(4) Telecom Energy Solutions
(5) Smart Energy Solutions
(6) Display and Monitoring Solutions
(7) EV Charging Solutions

During the Q&A session, the delegation raised a number of points, including possible market arrangements in Pakistan and Georgia, after-sales service in Pakistan, opportunities in the construction industry in Pakistan, and opportunities in Iranian industries that are not covered by the US sanctions such as food and agriculture, textiles, and energy, among others.

At the end of the visit, Mr. McMullin presented a Testimonial of Appreciation to Mr. Tsai for receiving the CACCI delegation and giving them the opportunity to learn more about the company and its various product lines, and identify possible areas of cooperation with CACCI member countries.

Luncheon hosted by Mr. Henry Kao, Chairman, Chinese International Economic Cooperation Association (CIECA), Taiwan

The delegation was hosted lunch by Mr. Henry Kao, Chairman of the Chinese International Economic Cooperation Association (CIECA), Taiwan, the second CACCI Primary Member in Taiwan.

CIECA was founded by the late Dr. Jeffrey L. S. Koo on August 9, 2000 to promote international economic cooperation through collaboration of R.O.C. businessmen and private business organizations with their counterparts in foreign countries. It is composed of companies in the manufacturing, services and high-tech industries working together to expand Taiwan’s international relations, promote economic and trade cooperation and facilitate technological exchange.

In his Welcome Remarks, Mr. Kao underscored the important role played by CACCI and the business sector in addressing the various challenges in the global market and promoting cooperation among the business communities in the region. He said that CIECA aims to contribute to this effort of achieving regional economic cooperation.

Mr. McMullin conveyed CACCI’s appreciation to Mr. Kao and CIECA for its continued strong support of the activities of the Confederation, as well as for the sustained commitment of Taiwan and the Taiwanese government in supporting the efforts of CACCI to promote the interest of the region’s business community, thereby acting as Merchants of Peace. Mr. McMullin also highlighted the SET principle that he intends to pursue during his CACCI Presidency, namely, Sustainability, Entrepreneurship, and Trade which he said are critical elements for businesses to move forward post-Covid.

The other delegates reiterated the need for more people-to-people contact in order to improve cross-mobility of businessmen and enhance economic relations between countries in the region.

Mr. McMullin and Mr. Kao exchanged Tokens of Appreciation for the opportunity to meet with each other, thereby providing a forum for the CACCI delegation and key officers of CIECA to know each other more and explore possible areas of cooperation.

Courtesy Call on Commerce Development Research Institute

Following the lunch hosted by CIECA Chairman Mr. Henry Kao, the CACCI delegation visited the Commerce Development Research Institute (CDRI) where they were received by its key officers headed by Chairman Tain-Tsair Hsu.

After the brief Welcome Remarks of Chairman Hsu expressing his appreciation for the visit by the CACCI delegation, CACCI President Mr. Peter McMullin AM thanked Chairman Hsu for the warm welcome followed by a brief introduction on CACCI, what it does, and the strong support it receives from the Taiwanese government and business sector.

Thereafter, the other CDRI officers in attendance made presentations on the Institute and its various activities. They elaborated on the topics of cross-border e-commerce, application of market data, and how the Institute assists Taiwanese companies in foreign trade by applying value-added technologies, and the participation of CDRI in UN/CEFACT.

The CACCI visitors learned that:

(1) The CDRI was established in December 2007, and positioned as National Level Services Research think-tank. It plays the role as a platform of knowledge exchange for the government, the local industry, the academia, and research institutes; additionally, bringing in powerful resources and connections to provide suggestions to the Government as references for decision making, as well as to offer total solutions to private enterprises.

(2) As its major achievements to date, the Institute has coached 11,387 enterprises; increased enterprise revenue by NT$340.2 Billion, facilitated NT$1,253.4 Billion investment capital injection, created 378 innovative business models, and trained 41,847 service industry workers, thereby enabling industries to upgrade, transform and globalize.

(3) The Institute has also provided support to the Taiwanese governments New Southbound Policy, which target countries from ASEAN region, Australia, New Zealand and India and aim to support Taiwan companies to expand their business to the region.

At the end of the visit, Mr. McMullin and Chairman Hsu exchanged Tokens of Appreciation for the opportunity to learn more about each other’s organizations and to identify possible areas in which they can cooperate with CACCI member countries.

Meeting with the Importers and Exporters Association of Taipei (IEAT)

From CDRI, the CACCI delegation proceeded to the headquarters of the Importers and Exporters Association of Taipei (IEAT) and met with its key officers headed by Secretary-General Mr. Peter W. J. Huang. In welcoming the visitors, Mr. Huang said that the IEAT is proud to be an Affiliate Member of CACCI, adding that the Association is celebrating its 75th Anniversary in 2023.

He informed the CACCI delegation that the IEAT is the biggest association of importers and exporters in Taiwan, with its members registering a total import/export value of US$907 Billion. He pointed out that trade is important to Taiwan as it serves as the economic driving force of the island. With members composed of large and small enterprises, including start-up companies, the IEAT employs some 80 staff members to provide various services to its members. Following Mr. Huang’s welcome remarks, a video presentation was shown introducing the various services offered by the Association.

In response, Mr. McMullin cited the presence of many women in the IEAT staff, indicating that the Association is future-focused. He praised the business-like approach of Taiwan in dealing with other countries, and that CACCI, as a regional business organization, is comfortable with that approach. He added that this message from Taiwan – with its focus on resilient growth and sustainable development – resonates around the world. He stressed that the Presidential visits are a key part of CACCI’s program.

Mr. Huang informed the delegation that IEAT is ready to work with each of the chambers represented by the delegation members to promote mutual business opportunities. In response, the following comments were made by the visitors:

1. There is a need to explore possible ways of strengthening the connection between Pakistani businessmen and IEAT in order to establish close liaison and partnerships in sectors such as renewable energy, textiles and textile fibers, petrochemicals, tires, and luxury products, among others.
2. Many CACCI member countries are important sources of supplies for Taiwan, and vice versa, and therefore the possibility of signing MOUs with each other for this purpose as well as a regular sharing of market information (through their respective websites, for instance) should be considered.
3. In the case of Iran, Taiwan can consider promoting trade in non-sanctioned sectors and products (e.g., food industry) in order to help Iranian companies which are engaged in these products and sectors, adding that there is certainly enough room for trade of many products between Taiwan and Iran, as well as collaboration in the education sector.

Mr. McMullin and Mr. Huang exchanged tokens of Appreciation for the opportunity to meet with each other, thereby providing a forum for the CACCI delegation and key officers of IEAT to know each other better and explore possible areas of cooperation.

Dinner hosted by Importers and Exporters Association of Taipei (IEAT)

Mr. Huang and other IEAT officers later hosted dinner for the CACCI delegation at a venue located on the upper floor of the IEAT office. However, Mr. McMullin and his Chief of Staff Mr. Stuart Thomson were unable to join the dinner as they had to leave for the airport to catch up with their flight to Bangkok, Thailand where they were scheduled to attend the May 19 meeting of the Regional Committee for Asia-Pacific of the Conference of NGOs (CoNGO), an association of NGOs with consultative status with the United Nations, of which CACCI is a member.

Courtesy Call of the CACCI President on ROC President H. E. Tsai Eng-Wen

On the morning of May 18, CACCI President Mr. Peter McMullin made a courtesy call on President Tsai Ing-wen of the Republic of China (ROC), Taiwan.

In her Welcome Remarks for Mr. McMullin, President Tsai said that the nations included in Taiwan’s New Southbound Policy maintain engagement with CACCI and are key external trade partners for Taiwan. She also said that she looks forward to continuing Taiwan’s close cooperation with the Confederation to bolster connectivity among Asia-Pacific nations and make even greater contributions to the region’s economy and development.

An English translation of President Tsai’s remarks follows:

“I would like to begin by congratulating you, President McMullin, on assuming the CACCI presidency last year. Having previously met with a CACCI delegation in 2018, I now extend a very warm welcome to this delegation led by President McMullin. Your visit demonstrates the profound friendship between the confederation and Taiwan.

CACCI is an important platform for economic connectivity and collaboration in our region. As a founding member, Taiwan actively works with Asia-Pacific nations on advancing sustainable development in the region.

The Asia-Pacific region holds a key position in global geopolitics and supply chains. Following the outbreak of the COVID-19 pandemic and Russia’s invasion of Ukraine, and in the face of expanding authoritarianism, resilient and secure cross-border supply chains have become all the more important. Taiwan is committed to democratic values, economic freedom, and openness, and fulfills its responsibilities to the international community. This has made us a trusted partner throughout global supply chains.

At the same time, Taiwan is using its soft power to contribute to regional development. Since 2016, we have promoted the New Southbound Policy, working with partner countries to attain tangible results in such areas as economic cooperation, talent exchange, and regional connectivity. Last year, Taiwan’s trade with New Southbound Policy partner countries reached a new high of US$180.3 billion. That same year, our exports to these nations also achieved a historic peak of US$96.9 billion – up 17 percent from the previous year. During and after the COVID-19 pandemic, Taiwan has continued to deepen exchanges with New Southbound Policy partner countries in such areas as talent cultivation, disaster prevention, and agricultural technology.

The nations included in the New Southbound Policy also engage with CACCI and are key external trade partners for Taiwan. I want to thank CACCI for valuing and supporting Taiwan. We look forward to continuing our close cooperation with the confederation to bolster connectivity among Asia-Pacific nations and make even greater contributions to the region’s economy and development.

I once again welcome you and your delegation to Taiwan. I wish you all a successful trip.”

In response to President Tsai’s Welcome Remarks, President McMullin said that his delegation has been impressed by what they have seen in Taiwan and that the hospitality they have received has been exceptional. He said that the business-like nature of Taiwan is very much a comfort for the delegation members and that they have found it very easy to engage with organizations and government agencies in Taiwan.

President McMullin stated that his presidency, under the framework of CACCI, is based on three principles: Sustainability, Entrepreneurship, and Trade. He added that CACCI is working with regional and global organizations including the G20 and European chambers of commerce. Thanking the Taiwanese government for its support, President McMullin expressed his belief that “through our collaboration, we can achieve a great deal.”

Mr. McMullin also mentioned that for eight years he was the vice president of CACCI and that he visited Taiwan in 2018 with then CACCI President Jemal Inaishvili, who sends his regards to President Tsai, as do all the other members of his delegation. Noting that this is his third visit to Taiwan, President McMullin said that he looks forward to coming back soon.

Outstanding CACCI Presidential Visit to Vietnam led by Peter McMullin AM

A 23-strong CACCI delegation led by President Mr. Peter McMullin AM received a warm welcome from both the private and governments sectors of the Socialist Republic of Vietnam during the CACCI Presidential visit to Hanoi on May 22-23, 2023.

The two-day visit, which followed the CACCI Presidential visit to Taipei held on May 17-18, provided the CACCI delegation the opportunity to strengthen ties between CACCI and Vietnamese government officials and businessmen and to seek their support for the Confederation and its activities.

During their various meetings with Vietnamese private and government sector representatives, Mr. McMullin and members of his delegation from eight CACCI member countries introduced CACCI, elaborating on the Confederation’s objectives and what it does to encourage cooperation among businessmen in the region. They also shared information and exchanged views with the local host organizations on the current business conditions in Vietnam; areas of opportunities for business, trade and investment in the country; and policies set in place by the Vietnamese government to attract foreign investments. The delegation also had the opportunity to network with officers of local institutions and business enterprises and listened to presentations on their activities and projects, especially those that welcome the participation of foreign investors.

Hosted and organized by the Vietnam Chamber of Commerce and Industry (VCCI), the May 22-23 Vietnam visit was the third Presidential visits conducted by CACCI to Vietnam; the first was in 2011 led by then Ambassador Benedicto Yujuico from the Philippines, and the second one in 2018 headed by Mr. Jemal Inaishvili from Georgia.

The delegation to Vietnam was composed mostly of chamber executives and businessmen from eight CACCI member countries looking at possible business and investment opportunities in Vietnam or considering expansion of their existing businesses in the country, as well as to explore the possibility of attracting Vietnamese businesses to consider the market of their respective countries. A complete list of delegation members is attached at the end of the report.

Following is a chronology of the delegation’s program in Vietnam:

MAY 21, 2023

Dinner hosted by Pakistan’s Ambassador to Vietnam

On the eve of Day One of the Vietnam visit program, the CACCI delegation attended the dinner hosted by Pakistan’s Ambassador to Vietnam H. E. Samina Mehtab held at her residence. The dinner was made possible and facilitated by CACCI Vice President Mr. Khurram Sayeed from Pakistan.

During the dinner, Ambassador Mehtab informed the CACCI guests about some of the projects and programs that the Embassy has been undertaking to help promote trade and investment activities between Pakistan and Vietnam, especially in products and sectors in which Pakistan has a strong potential for growth and further development.

The delegates from other CACCI member counties also conveyed to the Ambassador the industries that they believe can be explored for possible cooperation between Pakistan and their respective countries.

MAY 22, 2023

Meeting with Officers and Members of the Vietnam Chamber of Commerce and Industry

As the first activity for Day One Program of the visit, Mr. McMullin and his delegation went to the headquarters of Vietnam Chamber of Commerce and Industry (VCCI), where they were met by the officers and members of the Chamber led by Chairman and President Mr. Pham Tan Cong.

In his Welcome Remarks, Chairman Pham noted that given the currently difficult economic situation globally, it is important for business organizations such as CACCI and VCCI to explore possible areas of collaboration to help enterprises and their respective constituencies overcome various challenges over time.

In response, Mr. McMullin thanked Chairman Pham for receiving the delegation and for the active role and strong support that VCCI has played in CACCI over the years, including previously hosting two Presidential visits (in 2011 and 2018) and two CACCI Conferences (1993 in Hanoi and 2000 in HCMC).

He also expressed his hopes that VCCI will remain actively involved in the Confederation as CACCI certainly needs Vietnam’s representation in the group, given the important role that the country’s economy and business sector play in the development of the Asia-Pacific region.

Mr. McMullin informed the VCCI Chairman that during his CACCI Presidency, he will work around the SET principle – Sustainability, Entrepreneurship, and Trade – as a basis for collaboration and cooperation among countries in the region to create an environment conducive to the growth of business and ensure stability and peaceful and productive relationship between countries, thereby making businesses merchants of peace.

Chairman Pham said that since Vietnam adopted the market economy in 1990, CACCI has provided VCCI the much-needed support to reach out into the regional and international markets. He said that since then, the Vietnamese economy has been doing very well, averaging an annual economic growth of 8%, one of the highest in the world.

The country hopes to maintain this growth momentum, targeting an average growth rate of 6-7% in order for Vietnam to become a developed country by 2035. He pointed out that VCCI, with its 200,000 enterprise members and 200 business association affiliates, aims to take advantage of the opportunities that will open up in the years ahead, and hopes to secure the support of CACCI in achieving this objective. VCCI also intends to remain a key policy adviser to the government, he added.

Chairman Pham welcomed the proposal of Mr. McMullin to host another CACCI Conference in Vietnam in the near future. He pointed out that despite the current geopolitical and economic challenges and difficulties in the global environment, Vietnam still sees the need for incoming and outgoing investments, particularly in green economy, circular economy, sustainable development, renewable energy, electronics, textiles and garments, ICT, and tourism, among others. To help achieve this objective the VCCI intends to continue its high-level commitment to take an active role in CACCI.

Members of the CACCI delegation raised the following points during the course of the meeting discussions:

(a) Mr. Khurram Sayeed cited the potential for bilateral trade between Vietnam and Pakistan in textiles, IT, fruits and vegetables, and pharmaceutical products.

(b) Mr. Jemal Inaishvili mentioned the important role played by Georgia as a transit point for goods to Central Asia as well as to European countries, and offered his assistance to discuss Vietnam-Georgia bilateral relations with relevant government officials in Georgia as well as in organizing visits of business delegations between the two countries.

(c) Dr. Alireza Yavari from Iran cited the potential for Vietnam-Iran bilateral trade in products exempted from US sanction such as food, medicines, pharmaceutical products, medical equipment, agricultural products, garments and textiles, and agricultural machinery, among others.

(d) Mr. Ernest Yuen from Hong Kong said he will invite members from Kowloon Chamber of Commerce to visit Vietnam to explore first-hand business opportunities offered by the country.

(e) Mr. Atif Iqbal cited the business opportunities in Pakistan’s pharmaceutical sector which is composed of 600 manufacturing companies, adding that Vietnam and Pakistan can collaborate in manufacturing and selling quality medicines at affordable prices.

(f) Ms. Weena Lee from Hong Kong offered her assistance in business legal aspects between Hong Kong and Vietnam, taking into account the fact that international business consulting has shifted its focus on Vietnam and that legal services in Vietnam has taken a more sophisticated legal framework with the aim of protecting investors.

Chairman Pham informed the delegation that he will lead a business delegation to Taiwan during the fourth quarter of 2023 to promote Vietnamese investments between the two countries.

At the end of the meeting, President McMullin and Chairman Pham exchanged tokens of appreciation for the opportunity to share information and views on business opportunities between Vietnam and CACCI member countries.

Meeting with the Ministry of Industry and Trade

Following the meeting with VCCI, the CACCI delegation proceeded to the Ministry of Industry and Trade (MOIT) where they were welcomed by key Ministry officers led by Mr. Vu Ba Phu, Director General of the Viet Nam Trade Promotion Agency.

In his Welcome Remarks, Mr. Vu informed the delegation that the MOIT is the government ministry in Vietnam responsible for the advancement, promotion, governance, regulation, management and growth of industry and trade. He said that:

(a) On the one hand, the MOIT provides the policy mechanism for the growth and development of Vietnam’s trade and investment. On the other hand, the MOIT provides public services to enterprises, and trade and industrial organizations.

(b) The MOIT has set up a One Centre for International Trade and Promotion which has working relations with more than 100 organizations, attends to bilateral relations with other countries (cultural, economic, etc.), and deals with importers and exporters through its 150 local offices and three overseas offices.

In response, CACCI President Mr. Peter McMullin:

(a) Thanked the Ministry for receiving the CACCI delegation and for making the necessary arrangements for the visit and its warm hospitality, as well as the government of Vietnam for its support of CACCI and its activities through the strong and active cooperation of VCCI.

(b) Introduced CACCI by mentioning that: it was established in 1966 to provide a platform for networking and cooperation among businessmen in the region; CACCI’s membership currently includes 28 national chambers of commerce and industry from 26 independent economies – including VCCI; CACCI has working relationships with other regional and international organizations such as the International Chamber of Commerce, the Eurochambres, the ASEAN Business Advisory Council, the APEC Business Advisory Council, the Pacific Alliance, the Indian Ocean Regional Association, the B20, the World Trade Organization, the SAARC CCI, and the Asian Development Bank, among others; CACCI has consultative status with the United Nations and a member of the Conference of Non-Government Organizations (CoNGO) under the UN umbrella.

(c) Mentioned that Vietnam – through the VCCI – has always played an active role in the Confederation: Since it joined as a CACCI Primary Member in 1990, VCCI has hosted two annual gatherings – the first one in 1993 in Hanoi, and the second one in 2000 in HCMC, and VCCI has also hosted two CACCI Presidential visits before – in 2011 and in 2018.

(d) Expressed his hopes that Vietnam – through VCCI – will remain actively involved in the Confederation, adding that CACCI certainly needs Vietnam’s representation in the group, given the important role that the country’s economy and business sector play in the development of the Asia-Pacific region.

(e) Pointed out that, considering the geographical scope of its membership, CACCI provides a good platform for the Vietnamese business community to reach out into the regional market, and for the Vietnamese government to promote its trade and investment policies for the region.

(f) Extended an invitation for Vietnamese government officials and businessmen to attend the 37th CACCI Conference to be held on 30-31 October 2023 in Cambodia to be hosted by Cambodia Chamber of Commerce.

(g) Expressed his hopes that Vietnam – through the initiative of VCCI and the support of the Vietnamese government – can host another CACCI Conference in the near future, given that the last Conference was held 23 years ago in 2000 in HCMC.

Following Mr. McMullin’s response, Director-General Vu provided the delegation the following salient macroeconomic information about Vietnam to provide CACCI members some basis for deciding how foreign investors can cooperate with the country:

(a) Vietnam is a typical example of a WTO member in terms of how it benefited from its membership in the organization. Among others, since its admission into the WTO, Vietnam’s GDP grew four times; it is one of the 22 countries with the biggest trade revenue in the world in terms of both volume and value;

(b) FDIs have played a major role in the country’s growth; FDIs account for 70-75% of the country’s total revenue, with Japanese investment expected to continue growing in the next five years;

(c) Vietnam is considered the workshop of the world beside China, especially in electronics and textiles and apparels;

(d) The country enjoys the advantage of having 18 free trade agreements with many countries (CPTPP, IFAP), and has recently concluded FTA negotiations with Israel and the UAE.

(e) Vietnam has a young population, with 65% of its people under 45 years of age;

(f) The country’s infrastructure has continued to be upgraded over the past 10 years;

(g) Vietnam has great connectivity with neighboring countries in the north, and demonstrates great dynamism with neighboring countries in the south; The Mekong Delta River has improved and enhanced connectivity with neighboring countries both in the north and the south;

(h) Agricultural and fishery products are major exports (including forestry, aquaculture, rice, coffee, cashew nuts), and Vietnam is one of the top five exporters in the world in wooden furniture;

(i) The country targets FDIs in processing and in-depth processing products (e.g. vegetables and fruits)

(j) The country’s industrial sector is focused on producing for exports and on developing the foundation industries (e.g., chemicals, mechanical equipment)

(k) Vietnam is among the strongest in the world in textiles (weaving and dyeing using new technology), leatherware, and construction materials;

(l) E-commerce and digital economy is expected to post a 25-27% growth rate annually over the next five years;

(m) Vietnam is ranked top three in Asia in terms of the number of companies using digital application, and is expected to become the hub for AI and digital transformation of the APEC region;

(n) It is considered one of the top counties in terms of Internet and smartphone users

(o) With a population of 100 million, Vietnam has the potential to have a strong retail and service sectors;

(p) Vietnam encourages 100% FDI instead of through joint ventures or through M&A via securities markets;

(q) Vietnam’s Investment and Corporate Law covers both local and foreign companies (and does not discriminate between the two)

At the end of the meeting, President McMullin and Director-General Vu exchanged tokens of appreciation for the opportunity to share information and views on trade and investment opportunities between Vietnam and CACCI member countries.

Lunch Hosted by CACCI President

After the meeting with MOIT, Mr. McMullin hosted lunch for the delegation at the Ngon Garden Restaurant, where they enjoyed a great selection of Vietnamese cuisine.

Meeting with the Ministry of Agriculture and Rural Development

Following lunch, the delegation made its way to the Ministry of Agriculture and Rural Development (MARD) – the government ministry responsible for rural development and the governance, promotion and nurturing of agriculture and the agriculture industry in Vietnam – where they were received by key Ministry officials headed by Deputy Minister Tran Thanh Nam.

Mr. McMullin opened the meeting by thanking the Ministry for receiving members of his delegation and for the strong support of the Vietnamese government – through VCCI – for CACCI and its activities. He also took the opportunity to introduce CACCI and the role it plays in promoting business in the region, the important role the VCCI has played in the Confederation since joining as a Primary Member in 1990, and to convey his invitation for Vietnamese officials and businessmen to participate in the 2023 CACCI Conference to be hosted by the Cambodia Chamber of Commerce in Phnom Penh in end-October. He also expressed his hopes that Vietnam can once again host a CACCI Conference in the near future.

After welcoming the CACCI delegation and thanking them for visiting Vietnam and the Ministry, Deputy Minister Tran shared the following information:

(a) After the pandemic, ensuring food security has become one of the top priorities of the country (which has 28 million hectares of land available for agricultural production), thereby making agriculture as the pillar of the economy and playing an important role in food security.

(b) Due to the Covid pandemic, there has been loss in agricultural production and a change in the consumption pattern;

(c) Among the strategic agricultural products of Vietnam are rice, coffee, cashew nuts, vegetables, lumber, and wooden furniture products;

(d) Livestock, horticulture and crop production are also expected to deal with climate change impact;

(e) There are currently 15,000 enterprises engaged in the agricultural sector

The Deputy Minister expressed interest to send delegation to the CACCI Conference in Cambodia in end-October. He expressed hope that through CACCI, investment in the agricultural sector in Vietnam would increase, and therefore suggested that the CACCI Conference in Cambodia should also address the issue of food security and that efforts to develop a global supply chain in agriculture can be established to ensure food security worldwide.

During the discussion that followed, a number of issues and suggestions were raised by the CACCI delegation, including the following:

(a) Pakistan and Vietnam can cooperate with each other in addressing food security issues. With 63% of its population living in the rural area, Pakistan can import agricultural products to meet the country’s food needs, such as edible oil, cotton, wheat, and sugar. Pakistan can also export fruit and vegetables, and meat. There is therefore potential for small bilateral trade between the two countries in agricultural products.

(b) With Iran importing huge quantity of rice, the country can source some of its rice imports from Vietnam, which is known for the good quality of its rice production. On the other hand, Iran can export to Vietnam products exempted from the US sanction including agricultural products, and agricultural machinery and equipment.

(c) Georgian ports can serve as a transport point for Vietnamese agricultural products to Central Asian countries and to Europe.

(d) 25% of Hong Kong’s rice and coffee imports come from Vietnam. Kowloon Chamber of Commerce can help to bring to Vietnam more potential buyers from Hong Kong;

Deputy Minister Tran further informed the delegation that:

(a) Vietnam will continue to pay attention to the development of sustainable agricultural growth;

(b) The country needs agricultural equipment;

(c) Vietnam will increasingly focus on specialized rice production (high quality and low-carbon);

(d) The Ministry wants to reduce the number of intermediaries in the trading of food products, thereby reducing cost. There is a need to find business partners who can act as bridge between CACCI member countries;

(e) He reiterated his suggestion to have the CACI Conference in Cambodia focus on agricultural issues.

At the end of the discussion, President McMullin and Deputy Minister Tran exchanged tokens of appreciation for the opportunity to share information and views on business opportunities in the agricultural sector between Vietnam and CACCI member countries.

Meeting with Ministry of Planning and Investment

After the meeting with the Ministry of Agriculture and Rural Development, the CACCI delegation moved to the Ministry of Planning and Investment (MPI) for a meeting with the Ministry’s key officials headed by Deputy Minister Tran Quoc Phuong.

Deputy Minister Tran briefly welcomed the delegation and wished them a highly successful and productive visit to Vietnam.

Mr. McMullin thanked the Deputy Minister for welcoming the delegation. He proceeded to introduce CACCI and its activities and highlighted the important role of Vietnam – through the active involvement of VCCI – in supporting the efforts of CACCI to promote the interest of businessmen in the region and enhance business cooperation. He also cited the SET principle that CACCI under his presidency will pursue to further strengthen the importance of the business sector in achieving regional growth and attaining peaceful co-existence among countries in the through pursuing sustainability, entrepreneurship, and trade.

The CACCI delegation thereafter highlighted the following issues from the perspective of their respective countries:

(a) Mr. Khurram pointed out the potential for bilateral investment between Pakistan and Vietnam in agricultural production (with Pakistan as a source of fruits, vegetables, and seafoods), as well as in construction, pharmaceuticals, e-commerce, renewable energy, cosmetics and jewelry. He also pointed out the need to address the visa issuance policies through diplomatic dialogue to allow Pakistani and Vietnamese businessmen to travel easily between the two countries.

(b) Mr. Ernest Yuen from Hong Kong said that Vietnam is not new to the Hong Kong people, especially now that the cost of labor in China is getting higher, many Hong Kong businessmen are planning to move to Vietnam. He added that he will take an active role in inviting Hong Kong businessmen and investors to visit Vietnam to know more about the current economic and investment environment in the country.

(c) Mr. Jemal Inaishvili from Georgia stressed the important role played by Georgia as a transit hub for the Central Asian region. He noted that Vietnam has progressed very well and has become more attractive to foreign investors. He mentioned that Georgia will be hosting the Annual Meeting of the Asian Development Bank (ADB) in 2024, adding that Georgia has benefited from the development financing program of the ADB.

(d) Dr Alireza Yavari from Iran said that the 2009 bilateral investment treaty between Iran and Vietnam entered into force in 2011; however, this has not been fully utilized probably because of the US sanctions. The two countries can explore the possibility of promoting investments in sectors that are exempted from US sanctions such as agriculture, telecommunications and food production.

There are also opportunities for cooperation in engineering projects and construction projects. Dr. Yavari noted that the Vietnamese economy is booming and proposed the idea of conducting a webinar on investment opportunities in Vietnam with the aim of bringing in more investors.

In response to various comments from the CACCI delegation, Deputy Minister Tran said that:

(a) The information shared by the delegation is very useful for Vietnam in its efforts to promote cooperation with other countries in the region.

(b) He appreciates the support that CACCI has been providing VCCI, which in turn has been contributing to the efforts of the Vietnamese government to strengthen economic relations with other countries.

( c) He was grateful for the invitation to attend the CACCI Conference to be held in Cambodia in end-October, and that he would convey the invitation to the Minister.

(d) He supports the proposal of CACCI President McMullin to organize a CACCI Conference in Vietnam in the near future, adding that he considers it an important event since it will provide Vietnam the platform to share information with other CACCI member countries on trade and investment opportunities in the country and promote collaboration among businessmen in the region.

(e) Vietnam has a high-level of openness for foreign investment and that, while trade has reduced in recent years due to lower global demand brought about by the pandemic (resulting in spending cuts, security issues, etc.), Vietnam is determined to expand collaboration with other economies to meet future difficulties.

(f) Vietnam hopes to increase collaboration efforts with foreign enterprise for investment in various sectors such as digital transformation, green economy, digital economy, and renewable energy, pointing out that the country is committed to achieving net-zero carbon emissions and the mobilization of green resources into the country (e.g., investment projects related to green hydrogen.

(g) Vietnam is encouraging investment in environmentally-friendly projects using advanced technology. It is also actively promoting the use of digital technology among enterprises in various industries.

(h) He encouraged the sharing of information on potentials for promoting greater cooperation in various sectors and products such as agriculture, food, textiles, wood furniture, electric vehicles, and high-tech modern products, among others.

(i) He expressed hope that VCCI will work more closely with CACCI in promoting cooperation with other CACCI member countries, adding that the Minister of Planning and Investment would provide support through the implementation of appropriate investment policies and participation in future CACCI activities.

At the end of the productive dialogue, President McMullin and Deputy Minister Tran exchanged tokens of appreciation for giving the two sides the opportunity to share relevant information and perspectives on trade and investment opportunities between Vietnam and CACCI member countries.

Dinner Hosted by CACCI President

On the evening of Day Two of the Vietnam visit, CACCI President hosted dinner for members of the delegation at the Cơm Việt Restaurant.

MAY 23, 2023

Visit to the Kinh Bac City (KBC) Group

The second day began with a morning visit to the headquarters of Kinh BAC City (KBC) Group located in Ban Ninh Province which is some 1.5-hour drive from Hanoi.

Upon arrival at the KBC complex, the visitors were first given a tour of the Que Vo Industrial Park, one of the 36 industrial parks established and managed by the KBC Group around Vietnam. Established in December 2002, Que Vo Industrial Park is the largest and most important industrial park of Bac Ninh Province, encompassing a total area of 611 hectares and has attracted more than 100 domestic and foreign investors.

Following the tour, the delegation proceeded to the KBC Group headquarters where they were welcomed by Chairman Mr. Dang Thanh Tam. After welcoming the visitors, Chairman Dang briefed them on the KBC Group and its activities, highlighting the following:

(a) KBC is considered the leading enterprise in Vietnam in terms of investment, development, construction and business of industrial park and urban infrastructure, with 6,387 ha. of industrial land and 1,263 ha. of residential land. With over 21 years of experience, it has attracted 1,000 FDI projects and US$ 17Billion FDI capital, generated 300,000 jobs, and currently hosts tenants from 30 countries and territories representing 60% of the world-famous brands and main suppliers.

(b) The Industrial Parks account for 20% – 30% of foreign investments attracted to Vietnam annually, have accounted for 5% of new additional jobs created every year in Vietnam; and generated US$19 Billion in exports in 2022

(c) KBC’s core business includes 24 large-scale and modern projects of industrial and residential area in Vietnam, widely distributed in the north, the central and the south of Vietnam.

(d) The KBC Group can assist foreign investors in various aspects, including application for legal entity establishment, strong connection with government agencies, land planning design and construction work, application for land use rights certificate, tax code and company seal, and human resources and recruitment.

( e) The KBC Group plans to establish an Innovation Centre and/or a Research Development Centre within the complex in the near future.

During the Q&A Session that followed the Chairman’s briefing, the following points were raised by the CACCI delegation:

(a) CACCI President Mr. Peter McMullin AM underscored the importance of the business community in economic growth and sustainable development of the country. He mentioned that his family was involved in the business of industrial park development in Australia. He extended his invitation to Chairman Dang to attend the 37th CACCI Conference in Cambodia on October 30-31, and expressed this hopes that Vietnam would once again host a CACCI Conference in the near future and use the occasion to serve as a platform for attracting foreign investors into the country.

(b) Mr. Ernest Yuen assured Chairman Dang that he would personally invite Hong Kong investors to visit Vietnam and the KBC Group.

(c) Mr. Khurram Sayed congratulated the Chairman for the important activities of the KBC Group and for the various awards and citations it has received for its various outstanding achievements in attracting foreign investors into the country.

(d) Mr. Jemal Inaishvili congratulated the Chairman for successfully attracting big multinational companies into the industrial parks, and said Georgia could learn from the experience of Vietnam in establishing and operating industrial parks.

(e) Mr. Michael Lee from Korea cited the importance of improving human resources in any organization and praised KBC for its program in providing education and training to its employees. Training of employees in Vietnam should not be a problem since the country has one of the highest literacy rates in the region.

At the conclusion of the meeting, President McMullin and Chairman Dang exchanged tokens of appreciation for the opportunity to obtain important information on the activities of the KBC Group and how it can help foreign investors from other countries to set up shop in Vietnam.

Lunch hosted by KBC Group Chairman

Chairman Dang, accompanied by some of his key officers, thereafter graciously hosted lunch for the delegation at the San San Restaurant located just outside the Industrial Park.

Meeting at the Australian Embassy in Vietnam

After lunch, the delegation moved to the Australian Embassy in Vietnam for a scheduled meeting with Mr. Mark Tattersall, Australia’s Deputy Head of Mission in Vietnam and his colleagues.

Following Mr. McMullin’s brief introduction of CACCI and its activities, Mr. Tattersall shared the following relevant information to the visiting delegation:

(a) Australia has a strong economic presence in Hanoi. Some 300,000 Vietnamese have studied in Australia over the past years, of which around 80,000 Vietnamese students have come back to Vietnam. There are 3,000 Vietnamese currently studying in Australia.

(b) The year 2023 marks the 50th anniversary of diplomatic relations between Australia and Vietnam, with Australia being one of the first to recognize Vietnam after the Paris Accord.

(c) Australia and Vietnam recently signed an Enhanced Engagement Agreement aimed at further strengthening their bilateral relations.

(d) Australian exports of agricultural products to Vietnam has grown 150% over the past two years.

(e) Australia is considered a pioneering investor in Vietnam. For instance, ANZ Bank is the first Australian bank that set up operations in the country.

(f) As Vietnam moves up the value chain, Australia’s investment has shifted to the services, education, energy and energy transition

(g) Vietnam offers vast business opportunities given its consistently strong economic growth of 7-7.5% economic growth since the country opened up in 1990.

(h) However, there remain some structural barriers. For instance, many enterprises are still state-owned, thereby posing problems in pushing for needed reforms.

(i) Vietnam offers vast potentials for investments in offshore wind and solar energy in which it has shown great track record for growth.

(j) Vietnam offers the advantage of having an integrated investment policy, promoting double dividend of both quantity and quality investments.

(k) Vietnam has good investment potential for Australia in sectors such as food and agricultural products, wine, energy, health care, skilling and higher education, technical and vocational education as well as in activities such as the modernization of the Vietnamese government, establishment of smart cities (transportation and power), and possibly impact investing.

(l) Having a good local partner will work to the advantage of foreign investors, who should therefore consider going into joint ventures. It is also important for investors to conduct due diligence.

(m) There are still some sectors where investments may pose some issues, such as investments in security-related industries where regulations are unclear or not fully supported. For equity investment, Vietnam is still considered a frontier market, given its underdeveloped and unclear regulatory environment. There are also some industries with equity limitation for foreign ownership.

At the conclusion of the meeting, President McMullin and Mr. Tattersall exchanged tokens of appreciation for the opportunity of information sharing on the extent of Australian presence and activities in Vietnam to help improve bilateral relations between the two countries.

Visit to the CTBC Bank Representative Office in Hanoi

From the Australian Embassy, the delegation proceeded to the Representative Office of CTBC Bank in Hanoi, whose office is located just a block away from the Australian Embassy.

Mr. Elton Cheng, CTBC Bank Vice President and Chief Representative in Hanoi, arranged for a brief video presentation on the history and activities of CTBC Financial Holdings and of the CTBC Bank Representative Office in Vietnam, followed by a Q&A session with the members of the delegation and later by a group photo.

CACCI President Peter McMullin joins 13th World Chambers Congress in Geneva

CACCI President Peter McMullin attended the 13th World Chambers Congress in Geneva, Switzerland in June 14 and 15, 2023. The Congress had three major themes this year:

(1) Demystifying Multilateralism: How can we come together to maximise both personal and common concern for people and planet?

(2) Innovation by all and for all: How do we support entrepreneurs and innovators to build the inclusive and sustainable businesses for the future?

(3) Future-proof sustainability: How do we truly transition to a just and sustainable economy?

President McMullin AM has the privileged to speak on a ‘Transnational Chamber’ panel discussion. The panel consisted of global chamber networks such as Junior Chambers International (JCI) as well as transnational chambers from Africa and the Middle-East. He remarked that CACCI had much in common and much to add to the global debate around the role of chambers of commerce in the 21st century.

CACCI President Peter McMullin represented CACCI on the Transnational Chamber panel discussion during the 13th World Chambers Congress in Geneva

As part of his role at the Congress, Mr. McMullin was also a judge for the ‘most unconventional chamber project’. A strong field of three remaining chambers reached the final stage of the competition. All three were compelling, with the winner being the Alexandria Chamber of Commerce. Their ‘Solar Chamber’ project tackled the high energy cost for business through building a solar photovoltaic unit with a capacity of 100 kilowatts. This unit is sufficient to cover their entire market’s energy needs and is linked to the grid to sell the surplus energy generated, which increases sustainability and income for the chamber. A great example of sustainability and financial opportunity!

President McMullin (third from left) with VCCI President Adrian Kloeden (second from left) and the CIECA and CNAIC delegates from Taiwan

Perhaps the greatest highlight of the visit to Geneva was meeting with the delegation from our Primary Member organisations from Taiwan – the Chinese International Economic Cooperation Association (CIECA), Taiwan and the Chinese National Association of Industry and Commerce, Taiwan (CNAIC). It was good to spend some time with my CIECA and CNAIC friends after our recent visit to Taipei, and thank them for their warm hospitality.

During the closing ceremony, it was revealed that the Victorian Chamber of Commerce and Industry (VCCI) would be hosting the 2025 World Chambers Congress in my hometown of Melbourne. As former Deputy Lord Mayor of Melbourne and former President of VCCI, I look forward to welcoming you all to Australia.

Visit to CTBC Bank Representative in Hanoi

The final stop of the CACCI Presidential Visit to Vietnam was in the afternoon of May 23rd 2023 when the delegation proceeded to the Representative Office of CTBC Bank in Hanoi, whose office is located just a block away from the Australian Embassy.

Mr. Elton Cheng, CTBC Bank Vice President and Chief Representative in Hanoi, arranged for a brief video presentation on the history and activities of CTBC Financial Holdings and of the CTBC Bank Representative Office in Vietnam, followed by a Q&A session with the members of the delegation and later by a group photo.

The full report of the CACCI Presidential Visit to Vietnam can be read HERE.

Australian Embassy in Vietnam Meets CACCI Delegation

During the afternoon of May 23rd 2023, the CACCI Presidential Delegation moved to the Australian Embassy in Vietnam for a scheduled meeting with Mr. Mark Tattersall, Australia’s Deputy Head of Mission in Vietnam and his colleagues.

Following Mr. McMullin’s brief introduction of CACCI and its activities, Mr. Tattersall shared the following relevant information to the visiting delegation:

(a) Australia has a strong economic presence in Hanoi. Some 300,000 Vietnamese have studied in Australia over the past years, of which around 80,000 Vietnamese students have come back to Vietnam. There are 3,000 Vietnamese currently studying in Australia.

(b) The year 2023 marks the 50th anniversary of diplomatic relations between Australia and Vietnam, with Australia being one of the first to recognize Vietnam after the Paris Accord.

(c) Australia and Vietnam recently signed an Enhanced Engagement Agreement aimed at further strengthening their bilateral relations.

(d) Australian exports of agricultural products to Vietnam has grown 150% over the past two years.

(e) Australia is considered a pioneering investor in Vietnam. For instance, ANZ Bank is the first Australian bank that set up operations in the country.

(f) As Vietnam moves up the value chain, Australia’s investment has shifted to the services, education, energy and energy transition

(g) Vietnam offers vast business opportunities given its consistently strong economic growth of 7-7.5% economic growth since the country opened up in 1990.

(h) However, there remain some structural barriers. For instance, many enterprises are still state-owned, thereby posing problems in pushing for needed reforms.

(i) Vietnam offers vast potentials for investments in offshore wind and solar energy in which it has shown great track record for growth.

(j) Vietnam offers the advantage of having an integrated investment policy, promoting double dividend of both quantity and quality investments.

(k) Vietnam has good investment potential for Australia in sectors such as food and agricultural products, wine, energy, health care, skilling and higher education, technical and vocational education as well as in activities such as the modernization of the Vietnamese government, establishment of smart cities (transportation and power), and possibly impact investing.

(l) Having a good local partner will work to the advantage of foreign investors, who should therefore consider going into joint ventures. It is also important for investors to conduct due diligence.

(m) There are still some sectors where investments may pose some issues, such as investments in security-related industries where regulations are unclear or not fully supported. For equity investment, Vietnam is still considered a frontier market, given its underdeveloped and unclear regulatory environment. There are also some industries with equity limitation for foreign ownership.

At the conclusion of the meeting, President McMullin and Mr. Tattersall exchanged tokens of appreciation for the opportunity of information sharing on the extent of Australian presence and activities in Vietnam to help improve bilateral relations between the two countries.

The full report of the CACCI Presidential Visit to Vietnam can be read HERE.

CACCI Visits Kinh Bac City (KBC) Group

During the second day of the CACCI Presidential Visit to Vietnam on May 23rd 2021, the delegation began with a morning visit to the headquarters of Kinh BAC City (KBC) Group located in Ban Ninh Province which is some 1.5-hour drive from Hanoi.

Upon arrival at the KBC complex, the visitors were first given a tour of the Que Vo Industrial Park, one of the 36 industrial parks established and managed by the KBC Group around Vietnam. Established in December 2002, Que Vo Industrial Park is the largest and most important industrial park of Bac Ninh Province, encompassing a total area of 611 hectares and has attracted more than 100 domestic and foreign investors.

Following the tour, the delegation proceeded to the KBC Group headquarters where they were welcomed by Chairman Mr. Dang Thanh Tam. After welcoming the visitors, Chairman Dang briefed them on the KBC Group and its activities, highlighting the following:

(a) KBC is considered the leading enterprise in Vietnam in terms of investment, development, construction and business of industrial park and urban infrastructure, with 6,387 ha. of industrial land and 1,263 ha. of residential land. With over 21 years of experience, it has attracted 1,000 FDI projects and US$ 17Billion FDI capital, generated 300,000 jobs, and currently hosts tenants from 30 countries and territories representing 60% of the world-famous brands and main suppliers.

(b) The Industrial Parks account for 20% – 30% of foreign investments attracted to Vietnam annually, have accounted for 5% of new additional jobs created every year in Vietnam; and generated US$19 Billion in exports in 2022

(c) KBC’s core business includes 24 large-scale and modern projects of industrial and residential area in Vietnam, widely distributed in the north, the central and the south of Vietnam.

(d) The KBC Group can assist foreign investors in various aspects, including application for legal entity establishment, strong connection with government agencies, land planning design and construction work, application for land use rights certificate, tax code and company seal, and human resources and recruitment.

( e) The KBC Group plans to establish an Innovation Centre and/or a Research Development Centre within the complex in the near future.

During the Q&A Session that followed the Chairman’s briefing, the following points were raised by the CACCI delegation:

(a) CACCI President Mr. Peter McMullin AM underscored the importance of the business community in economic growth and sustainable development of the country. He mentioned that his family was involved in the business of industrial park development in Australia. He extended his invitation to Chairman Dang to attend the 37th CACCI Conference in Cambodia on October 30-31, and expressed this hopes that Vietnam would once again host a CACCI Conference in the near future and use the occasion to serve as a platform for attracting foreign investors into the country.

(b) Mr. Ernest Yuen assured Chairman Dang that he would personally invite Hong Kong investors to visit Vietnam and the KBC Group.

(c) Mr. Khurram Sayed congratulated the Chairman for the important activities of the KBC Group and for the various awards and citations it has received for its various outstanding achievements in attracting foreign investors into the country.

(d) Mr. Jemal Inaishvili congratulated the Chairman for successfully attracting big multinational companies into the industrial parks, and said Georgia could learn from the experience of Vietnam in establishing and operating industrial parks.

(e) Mr. Michael Lee from Korea cited the importance of improving human resources in any organization and praised KBC for its program in providing education and training to its employees. Training of employees in Vietnam should not be a problem since the country has one of the highest literacy rates in the region.

At the conclusion of the meeting, President McMullin and Chairman Dang exchanged tokens of appreciation for the opportunity to obtain important information on the activities of the KBC Group and how it can help foreign investors from other countries to set up shop in Vietnam.

Lunch hosted by KBC Group Chairman

Chairman Dang, accompanied by some of his key officers, thereafter graciously hosted lunch for the delegation at the San San Restaurant located just outside the Industrial Park.

The full report of the CACCI Presidential Visit to Vietnam can be read HERE.

Meeting with the Ministry of Industry and Trade

On May 22nd 2023, the CACCI Presidential delegation proceeded to the Ministry of Industry and Trade (MOIT) of Vietnam where they were welcomed by key Ministry officers led by Mr. Vu Ba Phu, Director General of the Viet Nam Trade Promotion Agency.

In his Welcome Remarks, Mr. Vu informed the delegation that the MOIT is the government ministry in Vietnam responsible for the advancement, promotion, governance, regulation, management and growth of industry and trade. He said that:

(a) On the one hand, the MOIT provides the policy mechanism for the growth and development of Vietnam’s trade and investment. On the other hand, the MOIT provides public services to enterprises, and trade and industrial organizations.

(b) The MOIT has set up a One Centre for International Trade and Promotion which has working relations with more than 100 organizations, attends to bilateral relations with other countries (cultural, economic, etc.), and deals with importers and exporters through its 150 local offices and three overseas offices.

In response, CACCI President Mr. Peter McMullin:

(a) Thanked the Ministry for receiving the CACCI delegation and for making the necessary arrangements for the visit and its warm hospitality, as well as the government of Vietnam for its support of CACCI and its activities through the strong and active cooperation of VCCI.

(b) Introduced CACCI by mentioning that: it was established in 1966 to provide a platform for networking and cooperation among businessmen in the region; CACCI’s membership currently includes 28 national chambers of commerce and industry from 26 independent economies – including VCCI; CACCI has working relationships with other regional and international organizations such as the International Chamber of Commerce, the Eurochambres, the ASEAN Business Advisory Council, the APEC Business Advisory Council, the Pacific Alliance, the Indian Ocean Regional Association, the B20, the World Trade Organization, the SAARC CCI, and the Asian Development Bank, among others; CACCI has consultative status with the United Nations and a member of the Conference of Non-Government Organizations (CoNGO) under the UN umbrella.

(c) Mentioned that Vietnam – through the VCCI – has always played an active role in the Confederation: Since it joined as a CACCI Primary Member in 1990, VCCI has hosted two annual gatherings – the first one in 1993 in Hanoi, and the second one in 2000 in HCMC, and VCCI has also hosted two CACCI Presidential visits before – in 2011 and in 2018.

(d) Expressed his hopes that Vietnam – through VCCI – will remain actively involved in the Confederation, adding that CACCI certainly needs Vietnam’s representation in the group, given the important role that the country’s economy and business sector play in the development of the Asia-Pacific region.

(e) Pointed out that, considering the geographical scope of its membership, CACCI provides a good platform for the Vietnamese business community to reach out into the regional market, and for the Vietnamese government to promote its trade and investment policies for the region.

(f) Extended an invitation for Vietnamese government officials and businessmen to attend the 37th CACCI Conference to be held on 30-31 October 2023 in Cambodia to be hosted by Cambodia Chamber of Commerce.

(g) Expressed his hopes that Vietnam – through the initiative of VCCI and the support of the Vietnamese government – can host another CACCI Conference in the near future, given that the last Conference was held 23 years ago in 2000 in HCMC.

Following Mr. McMullin’s response, Director-General Vu provided the delegation the following salient macroeconomic information about Vietnam to provide CACCI members some basis for deciding how foreign investors can cooperate with the country:

(a) Vietnam is a typical example of a WTO member in terms of how it benefited from its membership in the organization. Among others, since its admission into the WTO, Vietnam’s GDP grew four times; it is one of the 22 countries with the biggest trade revenue in the world in terms of both volume and value;

(b) FDIs have played a major role in the country’s growth; FDIs account for 70-75% of the country’s total revenue, with Japanese investment expected to continue growing in the next five years;

(c) Vietnam is considered the workshop of the world beside China, especially in electronics and textiles and apparels;

(d) The country enjoys the advantage of having 18 free trade agreements with many countries (CPTPP, IFAP), and has recently concluded FTA negotiations with Israel and the UAE.

(e) Vietnam has a young population, with 65% of its people under 45 years of age;

(f) The country’s infrastructure has continued to be upgraded over the past 10 years;

(g) Vietnam has great connectivity with neighboring countries in the north, and demonstrates great dynamism with neighboring countries in the south; The Mekong Delta River has improved and enhanced connectivity with neighboring countries both in the north and the south;

(h) Agricultural and fishery products are major exports (including forestry, aquaculture, rice, coffee, cashew nuts), and Vietnam is one of the top five exporters in the world in wooden furniture;

(i) The country targets FDIs in processing and in-depth processing products (e.g. vegetables and fruits)

(j) The country’s industrial sector is focused on producing for exports and on developing the foundation industries (e.g., chemicals, mechanical equipment)

(k) Vietnam is among the strongest in the world in textiles (weaving and dyeing using new technology), leatherware, and construction materials;

(l) E-commerce and digital economy is expected to post a 25-27% growth rate annually over the next five years;

(m) Vietnam is ranked top three in Asia in terms of the number of companies using digital application, and is expected to become the hub for AI and digital transformation of the APEC region;

(n) It is considered one of the top counties in terms of Internet and smartphone users

(o) With a population of 100 million, Vietnam has the potential to have a strong retail and service sectors;

(p) Vietnam encourages 100% FDI instead of through joint ventures or through M&A via securities markets;

(q) Vietnam’s Investment and Corporate Law covers both local and foreign companies (and does not discriminate between the two)

At the end of the meeting, President McMullin and Director-General Vu exchanged tokens of appreciation for the opportunity to share information and views on trade and investment opportunities between Vietnam and CACCI member countries.

The full report of the CACCI Presidential Visit to Vietnam can be read HERE.

Meeting with Officers and Members of the Vietnam Chamber of Commerce and Industry

The first activity for Day One Program of the CACCI Presidential Visit to Vietnam led by Mr. McMullin AM and his delegation was a visit to the headquarters of Vietnam Chamber of Commerce and Industry (VCCI), where they were met by the officers and members of the Chamber led by Chairman and President Mr. Pham Tan Cong.

In his Welcome Remarks, Chairman Pham noted that given the currently difficult economic situation globally, it is important for business organizations such as CACCI and VCCI to explore possible areas of collaboration to help enterprises and their respective constituencies overcome various challenges over time.

In response, Mr. McMullin thanked Chairman Pham for receiving the delegation and for the active role and strong support that VCCI has played in CACCI over the years, including previously hosting two Presidential visits (in 2011 and 2018) and two CACCI Conferences (1993 in Hanoi and 2000 in HCMC).

He also expressed his hopes that VCCI will remain actively involved in the Confederation as CACCI certainly needs Vietnam’s representation in the group, given the important role that the country’s economy and business sector play in the development of the Asia-Pacific region.

Mr. McMullin informed the VCCI Chairman that during his CACCI Presidency, he will work around the SET principle – Sustainability, Entrepreneurship, and Trade – as a basis for collaboration and cooperation among countries in the region to create an environment conducive to the growth of business and ensure stability and peaceful and productive relationship between countries, thereby making businesses merchants of peace.

Chairman Pham said that since Vietnam adopted the market economy in 1990, CACCI has provided VCCI the much-needed support to reach out into the regional and international markets. He said that since then, the Vietnamese economy has been doing very well, averaging an annual economic growth of 8%, one of the highest in the world.

The country hopes to maintain this growth momentum, targeting an average growth rate of 6-7% in order for Vietnam to become a developed country by 2035. He pointed out that VCCI, with its 200,000 enterprise members and 200 business association affiliates, aims to take advantage of the opportunities that will open up in the years ahead, and hopes to secure the support of CACCI in achieving this objective. VCCI also intends to remain a key policy adviser to the government, he added.

Chairman Pham welcomed the proposal of Mr. McMullin to host another CACCI Conference in Vietnam in the near future. He pointed out that despite the current geopolitical and economic challenges and difficulties in the global environment, Vietnam still sees the need for incoming and outgoing investments, particularly in green economy, circular economy, sustainable development, renewable energy, electronics, textiles and garments, ICT, and tourism, among others. To help achieve this objective the VCCI intends to continue its high-level commitment to take an active role in CACCI.

Members of the CACCI delegation raised the following points during the course of the meeting discussions:

(a) Mr. Khurram Sayeed cited the potential for bilateral trade between Vietnam and Pakistan in textiles, IT, fruits and vegetables, and pharmaceutical products.

(b) Mr. Jemal Inaishvili mentioned the important role played by Georgia as a transit point for goods to Central Asia as well as to European countries, and offered his assistance to discuss Vietnam-Georgia bilateral relations with relevant government officials in Georgia as well as in organizing visits of business delegations between the two countries.

(c) Dr. Alireza Yavari from Iran cited the potential for Vietnam-Iran bilateral trade in products exempted from US sanction such as food, medicines, pharmaceutical products, medical equipment, agricultural products, garments and textiles, and agricultural machinery, among others.

(d) Mr. Ernest Yuen from Hong Kong said he will invite members from Kowloon Chamber of Commerce to visit Vietnam to explore first-hand business opportunities offered by the country.

(e) Mr. Atif Iqbal cited the business opportunities in Pakistan’s pharmaceutical sector which is composed of 600 manufacturing companies, adding that Vietnam and Pakistan can collaborate in manufacturing and selling quality medicines at affordable prices.

(f) Ms. Weena Lee from Hong Kong offered her assistance in business legal aspects between Hong Kong and Vietnam, taking into account the fact that international business consulting has shifted its focus on Vietnam and that legal services in Vietnam has taken a more sophisticated legal framework with the aim of protecting investors.

Chairman Pham informed the delegation that he will lead a business delegation to Taiwan during the fourth quarter of 2023 to promote Vietnamese investments between the two countries.

At the end of the meeting, President McMullin and Chairman Pham exchanged tokens of appreciation for the opportunity to share information and views on business opportunities between Vietnam and CACCI member countries.

The full report of the CACCI Presidential Visit to Vietnam can be read HERE.

Meeting with the Ministry of Agriculture and Rural Development

In the afternoon of May 22nd 2023, the CACCI Presidential delegation made its way to the Ministry of Agriculture and Rural Development (MARD) – the government ministry responsible for rural development and the governance, promotion and nurturing of agriculture and the agriculture industry in Vietnam – where they were received by key Ministry officials headed by Deputy Minister Tran Thanh Nam.

Mr. McMullin opened the meeting by thanking the Ministry for receiving members of his delegation and for the strong support of the Vietnamese government – through VCCI – for CACCI and its activities. He also took the opportunity to introduce CACCI and the role it plays in promoting business in the region, the important role the VCCI has played in the Confederation since joining as a Primary Member in 1990, and to convey his invitation for Vietnamese officials and businessmen to participate in the 2023 CACCI Conference to be hosted by the Cambodia Chamber of Commerce in Phnom Penh in end-October. He also expressed his hopes that Vietnam can once again host a CACCI Conference in the near future.

After welcoming the CACCI delegation and thanking them for visiting Vietnam and the Ministry, Deputy Minister Tran shared the following information:

(a) After the pandemic, ensuring food security has become one of the top priorities of the country (which has 28 million hectares of land available for agricultural production), thereby making agriculture as the pillar of the economy and playing an important role in food security.

(b) Due to the Covid pandemic, there has been loss in agricultural production and a change in the consumption pattern;

(c) Among the strategic agricultural products of Vietnam are rice, coffee, cashew nuts, vegetables, lumber, and wooden furniture products;

(d) Livestock, horticulture and crop production are also expected to deal with climate change impact;

(e) There are currently 15,000 enterprises engaged in the agricultural sector

The Deputy Minister expressed interest to send delegation to the CACCI Conference in Cambodia in end-October. He expressed hope that through CACCI, investment in the agricultural sector in Vietnam would increase, and therefore suggested that the CACCI Conference in Cambodia should also address the issue of food security and that efforts to develop a global supply chain in agriculture can be established to ensure food security worldwide.

During the discussion that followed, a number of issues and suggestions were raised by the CACCI delegation, including the following:

(a) Pakistan and Vietnam can cooperate with each other in addressing food security issues. With 63% of its population living in the rural area, Pakistan can import agricultural products to meet the country’s food needs, such as edible oil, cotton, wheat, and sugar. Pakistan can also export fruit and vegetables, and meat. There is therefore potential for small bilateral trade between the two countries in agricultural products.

(b) With Iran importing huge quantity of rice, the country can source some of its rice imports from Vietnam, which is known for the good quality of its rice production. On the other hand, Iran can export to Vietnam products exempted from the US sanction including agricultural products, and agricultural machinery and equipment.

(c) Georgian ports can serve as a transport point for Vietnamese agricultural products to Central Asian countries and to Europe.

(d) 25% of Hong Kong’s rice and coffee imports come from Vietnam. Kowloon Chamber of Commerce can help to bring to Vietnam more potential buyers from Hong Kong;

Deputy Minister Tran further informed the delegation that:

(a) Vietnam will continue to pay attention to the development of sustainable agricultural growth;

(b) The country needs agricultural equipment;

(c) Vietnam will increasingly focus on specialized rice production (high quality and low-carbon);

(d) The Ministry wants to reduce the number of intermediaries in the trading of food products, thereby reducing cost. There is a need to find business partners who can act as bridge between CACCI member countries;

(e) He reiterated his suggestion to have the CACI Conference in Cambodia focus on agricultural issues.

At the end of the discussion, President McMullin and Deputy Minister Tran exchanged tokens of appreciation for the opportunity to share information and views on business opportunities in the agricultural sector between Vietnam and CACCI member countries.

The full report of the CACCI Presidential Visit to Vietnam can be read HERE.

Dinner hosted by Pakistan’s Ambassador to Vietnam

On the eve of Day One of the CACCI Presidential Visit to Vietnam on May 21st 2023, the CACCI delegation attended the dinner hosted by Pakistan’s Ambassador to Vietnam H. E. Samina Mehtab held at her residence. The dinner was made possible and facilitated by CACCI Vice President Mr. Khurram Sayeed from Pakistan.

During the dinner, Ambassador Mehtab informed the CACCI guests about some of the projects and programs that the Embassy has been undertaking to help promote trade and investment activities between Pakistan and Vietnam, especially in products and sectors in which Pakistan has a strong potential for growth and further development.

The delegates from other CACCI member counties also conveyed to the Ambassador the industries that they believe can be explored for possible cooperation between Pakistan and their respective countries.

The full report of the CACCI Presidential Visit to Vietnam can be read HERE.

CACCI President speaks at CoNGO panel in Bangkok

CACCI President Mr. Peter McMullin AM was in Bangkok, Thailand on May 19 to 20 to speak on a panel at the Regional Committee in Asia-Pacific (RCAP) meeting organized by the Conference of Non-Governmental Organizations in Consultative Relationship with the United Nations (CoNGO), of which CACCI is an active member.

With the theme “Defining the Present – Shaping the Future”, the meeting also served as the first global commemorative celebration of the 75th anniversary of CoNGO.

President McMullin joined the Open Panel on Business and Labour: For Human Rights and Sustainable Development, during which he focused his address on the need for partnerships (UN SDG 17) if we are to achieve the Sustainable Development Goals (SDGs). There is no doubt that the challenges facing us are daunting in achieving the SDGs by 2030, according to Mr. McMullin.

However, he stressed that we cannot just get caught ‘observing the problem’. Instead, we must continue to work together to maximise peace and prosperity for our region.

President McMullin said he firmly believes that if civil society, government and business work together, we can ensure human rights are upheld while eliminating poverty (SDG 1) and ensuring decent work and economic growth (SDG 8).

In his final remarks he outlined the need to focus our efforts on gender equality (SDG 5) and mentioned that gender diversity offers two great opportunities:

• Businesses led by women in developing economies reinvest 80% of their income in the wellbeing and education of their families.
• Businesses led by women often take into account sustainability and decarbonisation into their business models.

If we are to lift all boats by the rising tide, he stated, we must ensure these opportunities are embraced and acted upon.

Courtesy Call of the CACCI President on ROC President H. E. Tsai Eng-Wen

On the morning of May 18, CACCI President Mr. Peter McMullin made a courtesy call on President Tsai Ing-wen of the Republic of China (ROC), Taiwan.

In her Welcome Remarks for Mr. McMullin, President Tsai said that the nations included in Taiwan’s New Southbound Policy maintain engagement with CACCI and are key external trade partners for Taiwan. She also said that she looks forward to continuing Taiwan’s close cooperation with the Confederation to bolster connectivity among Asia-Pacific nations and make even greater contributions to the region’s economy and development.

An English translation of President Tsai’s remarks follows:

“I would like to begin by congratulating you, President McMullin, on assuming the CACCI presidency last year. Having previously met with a CACCI delegation in 2018, I now extend a very warm welcome to this delegation led by President McMullin. Your visit demonstrates the profound friendship between the confederation and Taiwan.

CACCI is an important platform for economic connectivity and collaboration in our region. As a founding member, Taiwan actively works with Asia-Pacific nations on advancing sustainable development in the region.

The Asia-Pacific region holds a key position in global geopolitics and supply chains. Following the outbreak of the COVID-19 pandemic and Russia’s invasion of Ukraine, and in the face of expanding authoritarianism, resilient and secure cross-border supply chains have become all the more important. Taiwan is committed to democratic values, economic freedom, and openness, and fulfills its responsibilities to the international community. This has made us a trusted partner throughout global supply chains.

At the same time, Taiwan is using its soft power to contribute to regional development. Since 2016, we have promoted the New Southbound Policy, working with partner countries to attain tangible results in such areas as economic cooperation, talent exchange, and regional connectivity. Last year, Taiwan’s trade with New Southbound Policy partner countries reached a new high of US$180.3 billion. That same year, our exports to these nations also achieved a historic peak of US$96.9 billion – up 17 percent from the previous year. During and after the COVID-19 pandemic, Taiwan has continued to deepen exchanges with New Southbound Policy partner countries in such areas as talent cultivation, disaster prevention, and agricultural technology.

The nations included in the New Southbound Policy also engage with CACCI and are key external trade partners for Taiwan. I want to thank CACCI for valuing and supporting Taiwan. We look forward to continuing our close cooperation with the confederation to bolster connectivity among Asia-Pacific nations and make even greater contributions to the region’s economy and development.

I once again welcome you and your delegation to Taiwan. I wish you all a successful trip.”

In response to President Tsai’s Welcome Remarks, President McMullin said that his delegation has been impressed by what they have seen in Taiwan and that the hospitality they have received has been exceptional. He said that the business-like nature of Taiwan is very much a comfort for the delegation members and that they have found it very easy to engage with organizations and government agencies in Taiwan.

President McMullin stated that his presidency, under the framework of CACCI, is based on three principles: Sustainability, Entrepreneurship, and Trade. He added that CACCI is working with regional and global organizations including the G20 and European chambers of commerce. Thanking the Taiwanese government for its support, President McMullin expressed his belief that “through our collaboration, we can achieve a great deal.”

Mr. McMullin also mentioned that for eight years he was the vice president of CACCI and that he visited Taiwan in 2018 with then CACCI President Jemal Inaishvili, who sends his regards to President Tsai, as do all the other members of his delegation. Noting that this is his third visit to Taiwan, President McMullin said that he looks forward to coming back soon.

The full report of the CACCI Presidential Visit to Taiwan can be read HERE.

The Importers and Exporters Association of Taipei (IEAT) meets CACCI delegates

The Secretary-General Mr. Peter W. J. Huang of The Importers and Exporters Association of Taipei (IEAT) offered an invitation to the CACCI Presidential Delegation to meet with its key officers at their headquarters in Taipei in the afternoon of May 18th 2023. In welcoming the visitors, Mr. Huang said that the IEAT is proud to be an Affiliate Member of CACCI, adding that the Association is celebrating its 75th Anniversary in 2023.

He informed the CACCI delegation that the IEAT is the biggest association of importers and exporters in Taiwan, with its members registering a total import/export value of US$907 Billion. He pointed out that trade is important to Taiwan as it serves as the economic driving force of the island. With members composed of large and small enterprises, including start-up companies, the IEAT employs some 80 staff members to provide various services to its members. Following Mr. Huang’s welcome remarks, a video presentation was shown introducing the various services offered by the Association.

In response, Mr. McMullin cited the presence of many women in the IEAT staff, indicating that the Association is future-focused. He praised the business-like approach of Taiwan in dealing with other countries, and that CACCI, as a regional business organization, is comfortable with that approach. He added that this message from Taiwan – with its focus on resilient growth and sustainable development – resonates around the world. He stressed that the Presidential visits are a key part of CACCI’s program.

Mr. Huang informed the delegation that IEAT is ready to work with each of the chambers represented by the delegation members to promote mutual business opportunities. In response, the following comments were made by the visitors:

1. There is a need to explore possible ways of strengthening the connection between Pakistani businessmen and IEAT in order to establish close liaison and partnerships in sectors such as renewable energy, textiles and textile fibers, petrochemicals, tires, and luxury products, among others.
2. Many CACCI member countries are important sources of supplies for Taiwan, and vice versa, and therefore the possibility of signing MOUs with each other for this purpose as well as a regular sharing of market information (through their respective websites, for instance) should be considered.
3. In the case of Iran, Taiwan can consider promoting trade in non-sanctioned sectors and products (e.g., food industry) in order to help Iranian companies which are engaged in these products and sectors, adding that there is certainly enough room for trade of many products between Taiwan and Iran, as well as collaboration in the education sector.

Mr. McMullin and Mr. Huang exchanged tokens of Appreciation for the opportunity to meet with each other, thereby providing a forum for the CACCI delegation and key officers of IEAT to know each other better and explore possible areas of cooperation.

Dinner hosted by Importers and Exporters Association of Taipei (IEAT)

Mr. Huang and other IEAT officers later hosted dinner for the CACCI delegation at a venue located on the upper floor of the IEAT office. However, Mr. McMullin and his Chief of Staff Mr. Stuart Thomson were unable to join the dinner as they had to leave for the airport to catch up with their flight to Bangkok, Thailand where they were scheduled to attend the May 19 meeting of the Regional Committee for Asia-Pacific of the Conference of NGOs (CoNGO), an association of NGOs with consultative status with the United Nations, of which CACCI is a member.

The full report of the CACCI Presidential Visit to Taiwan can be read HERE.

Courtesy Call on Commerce Development Research Institute

On Day Two of the CACCI Presidential Delegatin to Taiwan on May 18th, 2023, the CACCI delegation visited the Commerce Development Research Institute (CDRI) where they were received by its key officers headed by Chairman Tain-Tsair Hsu.

After the brief Welcome Remarks of Chairman Hsu expressing his appreciation for the visit by the CACCI delegation, CACCI President Mr. Peter McMullin AM thanked Chairman Hsu for the warm welcome followed by a brief introduction on CACCI, what it does, and the strong support it receives from the Taiwanese government and business sector.

Thereafter, the other CDRI officers in attendance made presentations on the Institute and its various activities. They elaborated on the topics of cross-border e-commerce, application of market data, and how the Institute assists Taiwanese companies in foreign trade by applying value-added technologies, and the participation of CDRI in UN/CEFACT.

The CACCI visitors learned that:

(1) The CDRI was established in December 2007, and positioned as National Level Services Research think-tank. It plays the role as a platform of knowledge exchange for the government, the local industry, the academia, and research institutes; additionally, bringing in powerful resources and connections to provide suggestions to the Government as references for decision making, as well as to offer total solutions to private enterprises.

(2) As its major achievements to date, the Institute has coached 11,387 enterprises; increased enterprise revenue by NT$340.2 Billion, facilitated NT$1,253.4 Billion investment capital injection, created 378 innovative business models, and trained 41,847 service industry workers, thereby enabling industries to upgrade, transform and globalize.

(3) The Institute has also provided support to the Taiwanese governments New Southbound Policy, which target countries from ASEAN region, Australia, New Zealand and India and aim to support Taiwan companies to expand their business to the region.

At the end of the visit, Mr. McMullin and Chairman Hsu exchanged Tokens of Appreciation for the opportunity to learn more about each other’s organizations and to identify possible areas in which they can cooperate with CACCI member countries.

The full report of the CACCI Presidential Visit to Taiwan can be read HERE.

CIECA Chairman Henry Kao hosts lunch for CACCI delegates

The CACCI Presidential delegation was hosted lunch by Mr. Henry Kao, Chairman of the Chinese International Economic Cooperation Association (CIECA), Taiwan, the second CACCI Primary Member in Taiwan on May 18th 2023..

CIECA was founded by the late Dr. Jeffrey L. S. Koo on August 9, 2000 to promote international economic cooperation through collaboration of R.O.C. businessmen and private business organizations with their counterparts in foreign countries. It is composed of companies in the manufacturing, services and high-tech industries working together to expand Taiwan’s international relations, promote economic and trade cooperation and facilitate technological exchange.

In his Welcome Remarks, Mr. Kao underscored the important role played by CACCI and the business sector in addressing the various challenges in the global market and promoting cooperation among the business communities in the region. He said that CIECA aims to contribute to this effort of achieving regional economic cooperation.

Mr. McMullin conveyed CACCI’s appreciation to Mr. Kao and CIECA for its continued strong support of the activities of the Confederation, as well as for the sustained commitment of Taiwan and the Taiwanese government in supporting the efforts of CACCI to promote the interest of the region’s business community, thereby acting as Merchants of Peace. Mr. McMullin also highlighted the SET principle that he intends to pursue during his CACCI Presidency, namely, Sustainability, Entrepreneurship, and Trade which he said are critical elements for businesses to move forward post-Covid.

The other delegates reiterated the need for more people-to-people contact in order to improve cross-mobility of businessmen and enhance economic relations between countries in the region.

Mr. McMullin and Mr. Kao exchanged Tokens of Appreciation for the opportunity to meet with each other, thereby providing a forum for the CACCI delegation and key officers of CIECA to know each other more and explore possible areas of cooperation.

The full report of the CACCI Presidential Visit to Taiwan can be read HERE.

Delta Electronics receives CACCI delegates

During the CACCI Presidential Visit to Taiwan in May 2023, CACCI delegates also had the opportunity in the morning of May 18th 2023 to visit the headquarters of Delta Electronics, Inc., a Taiwanese electronics manufacturing company where they were welcomed by its key officers led by Senior Consultant Mr. R. T. Tsai.

The visitors were informed that Delta Electronics was founded in 1971 primarily to serve as a global provider of power and thermal management solutions, and that:

(a) The company focuses on addressing key environmental issues such as global climate change. As an energy-saving solutions provider with core competencies in power electronics and automation, Delta engages in business categories that include Power Electronics, Automation, and Infrastructure.

(b) Delta offers some of the most energy efficient power products in the industry, including switching power supplies with efficiency over 90%, telecom power with up to 98%, and PV inverters with up to 99.2% efficiency.

(c) The company regularly invests over 8% of its annual sales revenues in R&D and has worldwide R&D facilities in China, Europe, Japan, Singapore, Thailand, and the U.S.

(d) The company has approximately 200 facilities worldwide including manufacturing, has an annual turnover of US$13 Billion, and that it has regional market centers in Thailand and the Middle East region.

The delegation was also shown the company’s wide range of products covering the following areas:

(1) Industrial Automation Solutions
(2) Building Automation Solutions
(3) Data Center Solutions
(4) Telecom Energy Solutions
(5) Smart Energy Solutions
(6) Display and Monitoring Solutions
(7) EV Charging Solutions

During the Q&A session, the delegation raised a number of points, including possible market arrangements in Pakistan and Georgia, after-sales service in Pakistan, opportunities in the construction industry in Pakistan, and opportunities in Iranian industries that are not covered by the US sanctions such as food and agriculture, textiles, and energy, among others.

At the end of the visit, Mr. McMullin presented a Testimonial of Appreciation to Mr. Tsai for receiving the CACCI delegation and giving them the opportunity to learn more about the company and its various product lines, and identify possible areas of cooperation with CACCI member countries.

The full report of the CACCI Presidential Visit to Taiwan can be read HERE.

MiTAC Chairman welcomes CACCI Presidential Delegation

On May 18, 2023, during the second day of the CACCI Presidential Visit to Taiwan, delegates visited MiTAC Information Technology Corporation where they were received by key officers of the company headed by Chairman Dr. Robert Ting.

The visitors were first given an introduction on the company, including its history, its growth and development over the years, its milestones, and the range of its current product lines. Among others, they learned that MiTAC Information Technology Corporation is a professional IT solution provider, providing total solutions from edge to cloud with advanced R&D, TCO and worldwide operations, and with an annual revenue of about US$90 Billion.

They were further informed that the company’s current IT solutions cover Smart Transportation, Smart Enterprise, Smart Security, Smart Government, Smart Education, Smart Manufacturing, and Smart Finance. The visitors were also given the opportunity to experience virtually each of these IT solutions.

The delegation later visited the Innovation and New Product Centre of the company where they learned some of its recent and upcoming products and IT solutions, as well as the projects that they been commissioned to develop and implement in other countries such as the Philippines, Indonesia, and India.

Some members of the delegation expressed interest to consider possible areas of cooperation with MiTAC Information Technology in developing and implementing IT solutions in the various areas of expertise of the company.

At the end of the visit, Mr. Jemal Inaishvili presented a Testimonial of Appreciation to MiTAC Chairman Dr. Ting for receiving the CACCI delegation and giving them the opportunity to learn more about the company and possible areas in which they can cooperate with CACCI member countries in providing IT solutions.

The full report of the CACCI Presidential Visit to Taiwan can be read HERE.

CNAIC hosts CACCI Presidential Delegation

CACCI Presidential Delegation visited the headquarters of the Chinese National Association of Industry and Commerce, Taiwan (CNAIC), a CACCI Primary Member in Taiwan, where they were received by CNAIC officers and members headed by Chairman Mr. Thomas T. L. Wu.

The visit on May 17th 2023 was welcomed by Mr. Wu who congratulated Mr. Peter McMullin on his election as CACCI President during the CACCI Conference held in November 2022 in Melbourne, Australia. He also praised Mr. McMullin for having been responsible for the recent admission of Singapore Manufacturing Federation (SMF) as the newest Primary Member of CACCI.

The delegation learned from Mr. Wu that the CNAIC was founded in 1952 as the first nationwide business organization. Many of its former Chairmen had taken active roles in CACCI, including the late Dr. Koo Chen-Fu and Dr. Jeffrey L. S. Koo. With a current membership of approximately 1,100 members affiliated with large corporations as well as SMEs, the CNAIC today provides regular financial advice to the government on behalf of the business community; promotes international industrial cooperation and cross-strait economic and trade exchanges; strengthens member services, organizes economic and trade-related activities and provides the latest business information; and provides latest information on global economic trends.

In response, Mr. Peter McMullin AM thanked Mr. Wu and its key officers and members for taking time from their busy schedules to meet with the CACCI delegation from several countries. He took the opportunity to introduce CACCI, underscoring the role it plays as a platform for people-to-people contact to improve inter-relationships – which is important not only for the Confederation but for the region as a whole in order to create a business environment conducive for business cooperation. He expressed his appreciation to Taiwan – as represented by CNAIC and other Taiwanese members in Taiwan – for recognizing the value of business relationships through its support of CACCI.

Mr. McMullin said he considered businessmen as merchants of peace because of the role they play in improving the economic standing of communities around the globe and therefore ensuring the absence of any conflicts. He mentioned that CACCI follows the SET concept – Sustainability, Entrepreneurship, and Trade – as the guiding principle for CACCI to make it well-positioned to address many challenges and issues faced by the global market environment.

He also took the opportunity to invite CNAIC and its members to send a big delegation to the 37th CACCI Conference to be held in Cambodia on October 30-31, 2023.

During the Q&A session, the following discussions took place:

(a) Mr. Sayeed once again cited the need to ease visa issuance in order facilitate person-to-person contact; stressed Pakistan’s advantage of having a young population; invited CNAIC members to visit Pakistan to get first-hand information on the country’s business, trade and investment opportunities and gain access to thousands of FPCCI members and set up businesses in Pakistan particularly in import-substituting industries, thereby helping solve the foreign reserves problem of Pakistan.

(b) Mr. Atif Iqbal from Pakistan noted that Pakistan exports pharmaceutical products to other countries with the Pakistani government’s push to promote the export of medicines, and encouraged Taiwanese government and businessmen to consider working with Pakistan in improving the standards of pharmaceutical production in order to meet international requirements. He also cited the opportunities in the construction industry of Pakistan, which currently imports building materials from China and Europe. Taiwan can serve as an additional source of construction products for Pakistan.

(c) CNAIC Chairman Mr. Wu informed Mr. Iqbal that the CNAIC has established a Committee that looks at Smart Health Care Program. This Committee can work with FPCCI in exploring possible areas of cooperation. He also informed the visitors that Taiwan is increasingly becoming a Muslim-friendly country, providing facilities and services that cater to the needs of Muslims (e.g., prayer rooms at the airport, restaurants that serve halal food, and the presence of a Muslim mosque in Taipei that has received leaders from Muslim countries in the past).

Dinner hosted by Chinese National Association of Industry and Commerce, Taiwan (CNAIC)

The CACCI delegation was then hosted by the CNAIC in a dinner held at Palais de Chine Hotel in a restaurant that had been awarded the three-star Michellin recognition, the only one given such recognition among the restaurants in Taiwan.

At the end of the dinner, Mr. McMullin and Mr. Wu exchanged tokens of appreciation for the opportunity to meet and exchange ideas on matters of mutual interest.

The full report of the CACCI Presidential Visit to Taiwan can be read HERE.

CACCI Delegates Visit Ministry of Foreign Affairs

Members of the CACCI Presidential Delegation led by its President Peter McMullin AM made a courtesy call on the Ministry of Foreign Affairs (MOFA) during the afternoon of May 17th 2023 in Taipei where they were welcomed by MOFA officers led by Deputy Minister Tien Chung-kwang.

Deputy Minister Tien said that Taiwan is proud to have the CACCI’s Secretariat set up in Taiwan as it provides them an effective channel to reach out into CACCI’s member countries in the region and beyond as well.

He informed the delegation of the humanitarian assistance that Taiwan has extended to countries that need it, such as those affected by the Ukraine-Russia conflict. He added that Asia is a very important region since some 50% – 60% of energy and food supply sail across its waters. The current fragile situation brought about by the current challenges should serve as a catalyst for governments and businesses to work together to address these challenges.

The Deputy Minister also cited Taiwan’s New Southbound Policy which he said has been setting in place the right policies for improving trade relations, people connection, and training of students and young people. He further sought the support of CACCI member countries for its bid to join the CPTPP as its participation in the agreement is important for Taiwan and is also expected to benefit other Asian countries.

Mr. McMullin mentioned the same points he raised during the delegations’ meeting with previous government agencies, namely: (a) the important role played by Taiwan in the activities of CACCI’s ; (b) the SET principle he plans to follow during his CACCI presidency; (c) the support of CACCI in addressing the challenges faced by Taiwan as well as its application for CPTPP membership; and the (d) important role played by chambers in general as merchants of peace through its continuous effort to conduct dialogue for peaceful relations through business.

Mr. Sayeed raised the same points he mentioned during the courtesy call on the previous government office, namely, the need to ease visa issuance in order facilitate person-to-person contact, using CACCI representative in Pakistan to help facilitate and issue visa recommendation for Taiwan with the endorsement of MOFA, Pakistan’s advantage of having a young population, and extending an invitation to the Taiwanese government to visit Pakistan to get first-hand information on the country’s business, trade and investment opportunities.

In response, the Deputy Minister said that as a short-term solution to the visa issue, he expressed his willingness to personally facilitate visa approval for Pakistani businessmen visiting Taiwan. But he cited the need for a long-term solution, which is a matter that needs to be discussed between the two governments in the future. He adds that Taiwan totally appreciates the potential for greater economic relationship between Pakistan and Taiwan and should therefore need to look at how to improve mobility of businessmen between the two countries.

Mr. Atif Iqbal from Pakistan also reiterated the points he raised previously with the other government offices visited, and once again suggested the possibility of establishing a Business Council between Pakistan and Taiwan as a vehicle for further increasing economic, trade and investment cooperation between the two countries. He further mentioned possible cooperation in the healthcare sector, such as the implementation of a borderless doctor program similar to that of SAARC. He said that there are currently 400 active pharmacies in Pakistan which can work with Taiwan, which could be a huge market for pharmaceutical products from Pakistan.

The Deputy Minister cited the importance of medical connectivity. In this regard, he mentioned the One Country, One Centre Program of Taiwan, under which mobile teams can inspect the situation in other countries such as Tuvalu every two to three months. He recognized the importance of the cooperation of doctors, the availability of machines for remote places, and smart health care system for remote consulting diagnosis, state-of-the-art diagnostic system, and tele-surgery. He said that as a starting point, Taiwan and Pakistan can have exchange visits for teams of specialists or pharmaceutical representatives.

Mr. Inaishvili expressed the group’s appreciation for the help extended by Taiwan to countries that were impacted heavily by the Covid pandemic. He acknowledged the important role of Taiwan in being the first country to notify the world of the onset of the pandemic in late 2019. He also cited the strategy of some countries of weaponizing trade. For instance, when Australia started an investigation on the source of Covid, China was antagonized and in retaliation, blocked the import of red wine from Australia.

Mr. Conrad Lee from Kowloon Chamber of Commerce (KCC) said that KCC aims to serve as a bridge between Hong Kong, China and Taiwan. However, this has been made a little more difficult since Hong Kong has changed a lot in recent years, affecting Taiwan – Hongkong relationship. He pointed out that if the system is not free, business cannot be free.

At the end of the courtesy call, Mr. McMullin presented a Testimonial of Appreciation to MOFA for receiving the CACCI delegation and giving them the opportunity to have a dialogue on foreign policy issues and other matters of mutual interest.

The full report of the CACCI Presidential Visit to Taiwan can be read HERE.

CACCI Delegates Visit National Development Council

In the afternoon of May 17th 2023, the CACCI Presidential Delegation made a courtesy call on the National Development Council (NDC), where they were received by NDC officers led by Minister Kung Ming-Hsin and Ms. Connie Chang, Director-General of the Department of Overall Planning.

During the meeting, the visitors learned that the NDC is the policy-planning agency of the Executive Yuan of the Republic of China. It has various departments covering Overall Planning, Economic Development, Social Development, Industrial Development, Human Resources Development, National Spatial Planning and Development, Supervision and Evaluation, and Regulatory Reform.

The CACCI visitors learned that since 2016, Taiwan has initiated development policies and activities covering the three major areas of industrialization, Smart City development, and Digitalization. For instance, the country has hosted events on smart city solutions.

The NDC officials pointed out that in the year 2018, the world saw the beginnings of China-US tensions, the onset of Covid pandemic in 2019 which impacted on the global value of supply chain and necessitated supply chain restructuring.

The NDC also underscored the importance of CPTPP for Taiwan to be part of regional economic integration and called on other countries, including those that are within the geographical scope of CACCI’s membership, to support Taiwan’s commitment to join the CPTPP.

For his part Mr. McMullin underscored the SET principle that he intends to pursue during his CACCI Presidency under the general theme of “Chambers of Commerce: Getting Business SET for the Future,” namely:

(S) Sustainability is critical for SMEs to gain a competitive advantage in today’s market, to be able to manage business risks, grow their brand and enhance their access to capital.

(E) Entrepreneurship and particularly inclusive entrepreneurship supports people with new ideas to solve some of our most entrenched challenges. By supporting entrepreneurs embrace new technologies, support diverse groups of entrepreneurs and allow for innovation to flourish, new business models emerge to move the region toward a truly just economy.

(T) Trade support is a critical service Chambers provide to the business community. Trade not only helps business supply the world with the goods and services we all desire, it also builds and maintains cross border relationships. Through this work Chambers are truly strengthening global multilateralism and in-turn global peace.

Mr. Sayeed reiterated the same points he raised during the courtesy call on the MOEA, namely, the need to ease visa issuance in order facilitate person-to-person contact, using CACCI representative in Pakistan to help facilitate and issue visa recommendation for Taiwan, Pakistan’s advantage of having a young population, and extending an invitation to the Taiwanese government to visit Pakistan to get first-hand information on the country’s business, trade and investment opportunities.

The NDC conveyed an invitation to young Pakistanis to visit and study in Taiwan – taking advantage of the Taiwanese government’s current policy of expanding scholarships program to international students – and obtain training in such sectors as ICT, semiconductor, software development and textile industry, among others. Taiwanese delegation (perhaps led by CIECA, CNAIC and IEAT) can also be organized to Pakistan to discuss and explore possible collaboration in important industries such as renewable energy and biomedicine.

Mr. Atif Iqbal from Pakistan suggested the possibility of establishing a Business Council between Pakistan and Taiwan as a vehicle for further increasing economic, trade and investment cooperation between the two countries.

At the end of the meeting, Mr. McMullin presented a Testimonial of Appreciation to NDC for receiving the CACCI delegation and providing them the opportunity to have a dialogue on issues of mutual interest.

 The full report of the CACCI Presidential Visit to Taiwan can be read HERE.

CACCI Delegation Tours CTBC Financial Park

On May 17th 2023, CACCI Presidential Delegation led by its President Peter McMullin AM toured the CTBC Financial Park, which is the headquarters of the CTBC Financial Holding, the company founded originally by the Koo family, including the late Dr. Jeffrey L. S. Koo, former CACCI President and one of the pillars of the Confederation.

The delegation was given a brief introduction on the CTBC Financial Park and later visited the CTBC Museum, where they were provided information on the history and founders of CTBC, its development and growth into what it is now – the biggest private commercial bank in Taiwan and considered the most international among the Taiwanese commercial banks with presence in many countries in Asia, Europe and the US.

The CTBC Financial Park, or Chinatrust Commercial Bank Headquarters, is a skyscraper office complex located in Nangang District, Taipei, Taiwan. Construction of the complex began in 2010 and it was completed in 2013. The complex consists of three towers with a total floor area of 266,290 m².

The full report of the CACCI Presidential Visit to Taiwan can be read HERE.

CACCI President makes Courtesy Call on Ministry of Economic Affairs

On May 17th, 2023 CACCI Presidential delegation was warmly received by key officers of the Ministry of Economic Affairs (MOEA) and the Bureau of Foreign Trade led by Deputy Minister Chern-Chi Chen.

In his welcome Remarks. Deputy Minister Chen informed the visitors that the MOEA is responsible for formulating policy and laws for industry and trade, foreign direct investment, energy, minerals, measurement standards, intellectual property, and state-owned enterprises.

He also pointed out that the global environment is currently faced with many political challenges and that the support of the chambers of commerce is needed in the effort to deal with these challenges. He said that local business groups such as CIECA and CNAIC have been doing their part in strengthening Taiwan’s foreign relations and implementing the Taiwanese government’s trade policies aimed at promoting and stabilizing trade relations with other countries, including China.

Deputy Minister Chen likewise stressed the ongoing efforts of his government to expand relations with its ally countries including the US, the EU, Japan, Southeast Asian countries, South Asian countries, Australia and New Zealand.

In response, Mr. McMullin thanked the MOEA for the strong support that the Taiwanese government has extended CACCI over the years. He also pointed out that:

(a) CACCI was established in 1966 – with its organizational meeting held in Taipei – to provide a platform for networking and cooperation among businessmen in the region. Taiwan – through CNAIC under the chairmanship of the late Dr. Koo Chen-Fu – was one of the founding members.

(b) Under the initiative of the late Dr. Jeffrey L. S. Koo – who was Past CACCI President – Taiwan offered in 1981 to host the Permanent Secretariat of CACCI, making it one of the first and few regional organizations with headquarters in Taiwan.

(c) CACCI’s current membership includes 28 national chambers of commerce and industry from 26 Asian countries and independent economies – including CNAIC and CIECA from Taiwan as Primary Members and the Importers and Exporters Association of Taipei (IEAT) as Affiliate Member.

(d) CACCI has working relationships with other regional and international organizations such as the International Chamber of Commerce, the Eurochambres, the ASEAN Business Advisory Council, the APEC Business Advisory Council, the Pacific Alliance, the Indian Ocean Regional Association, the B20, the World Trade Organization, the SAARC CCI, and the Asian Development Bank, among others.

(e) CACCI has consultative status with the United Nations and a member of the Conference of Non-Government Organizations (CoNGO) under the UN umbrella.

(f) Taiwan – through CNAIC, CIECA, and IEAT – has always taken an active role in the Confederation. Among others:

• Taiwan has hosted CACCI six annual gatherings (Council Meetings and Conferences in 1966, 1980, 1984, 1988, 2006 and 2016), two CACCI Summit Meetings (2011 and 2016), and one Presidential Visit in 2018.
• CACCI has had three Presidents from Taiwan – Dr. C. F. Koo, Dr. Jeffrey L. S. Koo, and Mr. Harvey Chang.

(g) Given the geographical scope of its membership, CACCI provides a good platform to promote Taiwan’s New Southbound Policy in its 18 target countries (12 of which are within the geographical scope of CACCI’s membership) , providing the Taiwanese business community the opportunity to reach out into the regional market, as well as for the Taiwanese government to promote its trade and investment policies in the region.

(h) While in Taipei, the CACCI delegation will meet with representatives of local companies engaged mainly in ICT activities to exchange information on mutual interest and explore possible areas of business cooperation.

Mr. McMullin expressed his hopes that Taiwan – through CIECA, CNAIC and the IEAT – will remain actively involved in the Confederation, stressing that CACCI certainly needs Taiwan’s continued strong representation in the group, given the important role that the country’s economy and business sector play in the development of the Asia-Pacific region.

He also Informed Deputy Minister Chen that the 2023 CACCI Conference will be held in Phnom Penh, Cambodia on October 30-31, with the Cambodia Chamber of Commerce as host, pointing out that the event will provide another opportunity for CACCI members and other businessmen in the region to exchange views on issues of current interest to the business sector. He said that he is hoping there will be another good turnout of Taiwanese participants in this year’s Conference.

He also explored with the Deputy Minister the possibility that Taiwan – through the initiative of CNAIC, CIECA and IEAT and the support of the Taiwanese government – can host another CACCI Conference in the near future, emphasizing that this will provide CACCI members from other countries the opportunity to:

1. meet with local businessmen and policymakers and gain first-hand information about the current economic and business condition in Taiwan and the market opportunities it offers;
2. learn more about the Taiwan government’s current trade and investment policies and the industry sectors in which foreign investors are being encouraged to consider; and
3. explore possible areas of economic cooperation, joint ventures and other forms of business collaboration between Taiwan and other countries in the region;

During the Q&A session, the following points were raised by some members of the CACCI delegation:

(a) Mr. Khurram Sayeed from Pakistan informed the Deputy Minister that the current level of bilateral trade between Pakistan and Taiwan is negligible, with Pakistan’s trade with Taiwan representing only 0.1% of the latter’s trade.

(b) He said that for bilateral trade to increase, it is important to improve people-to-people contact, which can be done by easing visa applications between the two countries. He cited the current difficulty for Pakistani businessmen to secure Taiwanese visa. However, he noted that for the CACCI Presidential visit to Taiwan, the Pakistani delegates obtained their visa easily due to the assistance and facilitation of CACCI.

(c) Mr. Sayeed therefore proposed the possibility of enabling CACCI to help facilitate the visa issuance process through setting up a mechanism with the Taiwanese government for this purpose.

(d) Deputy Minister Chen concurred with Mr. Sayeed on the importance of more people-to-people contact to improve trade between two countries. He suggested that CACCI can help request the Pakistani government to send a message to the Taiwanese government on this matter, and he offered to broker the process.

(e) Mr. Atif Iqbal from Pakistan said that the strength of multilateral relations depend much on the ease and cost of doing business. He pointed out that Pakistan has many attractions as an investment destination such as land and talent availability in the country and a young population (some 60% of its people are below 30 years of age), and that it offers many opportunities for joint ventures between Pakistan and Taiwan (for instance, in the pharmaceutical industry).

(f) Deputy Minister Chen remarked that Taiwan does need start-ups in the wind and solar energy, which is increasingly becoming a major energy source of the island.

(g) Mr. Dennis Hu, Chairman of the CACCI ICT Council, identified possible areas of collaboration between Taiwan and other countries (including Pakistan) such as in the area of Smart Healthcare (e.g., intelligent hospitals), Smart Energy System (e.g., energy allocation), and in the development of young talents (e.g. ,digital skilling).

(h) On the issue of young talent development, Deputy Minister Chen said that Taiwan can offer small-scale training programs for specific countries.

(i) Mr. McMullin pointed out that Australia has a very developed MICE program and can therefore collaborate with Taiwan in this area. He also cited the important role of chambers as merchants of peace, taking the lead in addressing the supply chain issues, reforming the world training system, digital transformation of businesses, ESG issues, and promoting SMEs as well as young and women entrepreneurs.

(j) Deputy Minister agreed on the importance of facilitating the digital transformation of businesses, and noted that in this regard, the Taiwanese government has set up the Ministry of Digital Affairs (MODA) to help create a policy environment that will facilitate the digital transformation of businesses (e.g., develop benchmarks, content control, etc.).

(k) Dr. G. J. Lee, Deputy Director-General of the Bureau of Foreign Trade, Taiwan urged the CACCI delegation to take advantage of CACCI’s platform to visit more frequently, and for using Taiwan as a platform for reaching out into the regional market.

(l) Mr. Jemal Inaishvili informed the meeting that while his country Georgia is a relatively small market, there are representatives from big Taiwanese shipping companies operating in the country such as Evergreen, since Georgia provides good access to the European market. He therefore considered Tbilisi, Georgia as a new frontier for Taiwan.

(m) At the end of the meeting, Mr. McMullin presented a Testimonial of Appreciation to MOEA for receiving the CACCI delegation and providing them the opportunity to have a dialogue on issues of mutual interest. In exchange, Deputy Minister Chen also presented a gift to Ms. McMullin as a token of appreciation for visiting Taiwan and making a courtesy call on the MOEA.

The full report of the CACCI Presidential Visit to Taiwan can be read HERE.

CACCI President Meets with KADIN Chairman in Jakarta

CACCI President Mr. Peter McMullin AM called on Mr. Arshad Rasjid, Chairman of the Indonesian Chamber of Commerce and Industry (KADIN), during his visit to Jakarta on April 12, 2023 accompanied by his Chief of Staff Mr. Stuart Thomson.

During the visit, Mr. McMullin and Mr. Rasjid exchanged ideas on possible areas where their two organizations can work together for the common benefit of their respective members.

According to Mr. McMullin, the main focus of his CACCI Presidency – namely, Sustainability, Entrepreneurship, and Trade, that is, not only to support business do what business does best, which is to provide jobs and essential products and services, but also to help business prepare for a net-zero and more equitable economy – resonated strongly with the KADIN Chairman.

The CACCI President said that he and Mr. Rasjid, who is also the current Chairman of the ASEAN Business Advisory Council of which CACCI is an Associate Member of its Joint Business Councils, share a common vision of ‘Innovating Towards Greater Inclusivity’.

“We firmly believe that the Asia-Pacific region has the skills and ideas to address our most pressing global issues. We just need to work together to support emerging businesses and entrepreneurs. We have what we need right under our noses!” Mr. McMullin stated.

He added that “Despite regional and global insecurity business and chambers of commerce play a critical role in strengthening multilateralism and peace. Through trade and supporting each other we can contribute strongly to maintaining dialogue, building mutuality and continuing our work in ensuring prosperity for all. “

CACCI President Mr. Peter McMullin AM (2nd from right) poses with KADIN Chairman Mr. Arshad Rasjid (3rd from right), his Chief of Staff Mr. Stuart Thomson (2nd from left) and other officers of KADIN Indonesia.

President McMullin AM meets CIPE Marc Schleifer in New York

March 3rd 20023 started with a meeting with Marc Schleifer, Director of Development and Partnerships at the Centre for International Private Enterprise (CIPE). CACCI President Peter McMullin AM discussed work furthering entrepreneurship and good governance, particularly in places like Papua New Guinea.

Through funding from USAID and Australian Department of Foreign Affairs and Trade CIPE is implementing, along with its partners (including The Difference Incubator), a cutting-edge women’s economic empowerment program in a country in which women face daunting obstacles.

To help create a broader “entrepreneurial ecosystem” CIPE is operating a Women’s Business Resource Centre (WBRC) in Port Moresby, working with PNG universities to create new educational curriculum on entrepreneurship, and supporting PNG women’s business organizations.

CACCI is looking forward to collaboration with CIPE.

President McMullin AM meets United Nations NGOs

On March 3 2023, CACCI President Peter McMullin AM had the great pleasure to meet with Liberato Bautista from the Conference of Non-Governmental Organizations in Consultative Relationship with the United Nations (CoNGO).

CACCI holds a Consultative Status at the United Nations, among 6000 organisations worldwide with a similar status. An important status to connect with likeminded organisations and advocate at the United Nations on behalf of CACCI members for sustainable and equitable growth.

The Conference of Non-Governmental Organizations in Consultative Relationship with the United Nations (CoNGO) was founded in 1948, the year of the Universal Declaration of Human Rights. With consultative status at the UN Economic and Social Council, CoNGOs work relates to the entire United Nations System: the Secretariat, Agencies, Treaty Bodies, Regional Commissions, Institutes, Summits and World Conferences.

President McMullin AM is looking forward to speaking at the forum in Bangkok in May.

CACCI President McMullin joins General Council of World Chamber Federation

CACCI President Peter McMullin AM represented CACCI as a member of the World Chambers Federation General Council meeting in Bogota, Colombia in early March 2023. “Colombia is a a country with a troubled past but an optimistic future” CACCI President McMullin said as he sat alongside delegates from 27 countries that collectively represented hundreds of thousands of businesses, creating millions of jobs. Many of the delegates had their own businesses anchoring them in the reality, not the theory, of business needs. Representatives from North and South America, Africa, Europe and of course Asia.

President McMullin said that as “we celebrated the strengths of multilateralism, that working and trading together we were living out ‘the merchants of peace’ ethos.” The CACCI President always argues that if we sit with each other, know each other and support each other’s interests there would be less of a reason to enter into conflict with each other. Many challenges lay ahead, not least the leadership needed by business to address the impacts of climate change as one worried delegate said to Mr. McMullin; without a planet we will have no business!

CACCI celebrates the diversity and strength of its network, and President McMullin is committed to reach further into places and to people we have not previously engaged with CACCI because CACCI believes that the entrepreneurial spirit is what binds us. That given the right support people can live out their dreams of what is possible.

President McMullin argues that for ourselves, our families and our community. CACCI and the International Chamber of Commerce (ICC) must continue to work closely on initiatives and events that continue to foster the entrepreneurial spirit as well as add practical value to our membership base.

CACCI President McMullin at the WCF Council Meeting in Bogota

On March 1, 2023, CACCI President Peter McMullin AM arrived to Bogota, Colombia, in representation of the Confederation of Asia -Pacific Chambers of Commerce and Industry (CACCI) to join the World Chambers Federation Council Meeting.

President McMullin AM was warmly received by Nicolás Uribe Rueda and hosted by the Cámara de Comercio de Bogotá.

Bogota is a city that is leading the way in what it means to do #goodbusiness. With green spaces, electric buses and renewable energy developments, President McMullin AM was excited to learn more about how business can go hand in hand with social and environmental wellbeing.

CACCI President visits VPN in Singapore

In his active international mission, CACCI President Peter McMullin AM visited Singapore on February 25 2023 to hold a series of meetings. One of CACCI President’s meetings was a courtesy visit to AVPN CEO Naina Subberwal Batra and CFO Mark Sayer.

AVPN is a network of 600+ members across 33 countries that is increasing the flow of financial, human, and intellectual capital from around the world into the social sector in Asia.

CEO Batra and CFO Saver were session speakers during the recent CACCI Annual Conference, Melbourne in November 28-29 2022.

CACCI and The Good Business Foundation look forward to a continued strong working relationship with AVPN.

CACCI President Joins Online Meetings of ICC WCF and Eurochambres

CACCI President Mr. Peter McMullin AM attended the virtual meetings held recently by the Eurochambres and the ICC World Chambers Federation (WCF)

On January 25, Eurochambres held an online launching of its Global Economic Survey 2023 (GES2023). Conducted during November and December 2022, the survey provides a qualitative assessment for the year ahead of global economic developments, trade and other key policy challenges from a business perspective based on responses from participating organizations in counties representing around 70% of the world GDP. CACCI, which is a member of the Eurochambres’ Global Chamber Platform, was one of participants of the survey.

Thereafter, the ICC WCF held an orientation meeting on January 26 for the new members of the WCF General Council, its governing body. During the meeting, which was chaired by ICC WCF Chairman Mr. Nicolas Uribe Rueda, the newly elected Council members listened to a presentation byICC WCF Director  Mr. Julian Kussum om “WCF: What it is, What it Does”. This was followed with a presentation by Chairman Mr. Rueda on “WCF Strategy 2023-2025”. As a Transnational Chamber, CACCI is a Permanent member of the WCF General Council and is currently represented by Mr. McMullin.

In both meetings, Mr. McMullin was accompanied by his Chief of Staff Mr. Stuart Thomson

CACCI President Meets with YEGAP Officers

CACCI President Mr. Peter McMullin AM on February 8 2023 met online with YEGAP Chairman Mr. Mangesh Lal Shrestha from Nepal and YEGAP Vice Chairman Mr. Rommel Gerodias from the Philippines.

Mr. McMullin AM congratulated YEGAP on its recent activities, particularly its strong participation in the 36^th CACCI Conference held in Melbourne, Australia in November 2022. He said that during his Presidency, he would rely on YEGAP for CACCI activities that he hopes would ensure the long-term future of the Confederation. He indicated his intention to engage the young entrepreneurs in CACCI’s efforts to deal with issues and challenges faced by the business community and expressed his hopes that YEGAP members would take the leadership role in this regard.

Both Mr. Mangesh and Mr. Gerodias updated the CACCI President on the activities undertaken by YEGAP in the past year to restructure and revive the group in order to make it an effective venue for identifying suitable programs geared towards entrepreneurial development for young and start-up entrepreneurs. They also explained how they plan to widen the scope of YEGAP membership by also inviting young business leaders from countries other regions outside Asia-Pacific to become members, as well to participate more actively with the activities of other regional and international organizations such as the ICC WCF, the B20, and the ASEAN-BAC, among others.

SET set by CACCI President McMullin

CACCI President Peter McMullin AM

Dear Friends and Colleagues,

It is with great honour and privilege that I provide this update to you all as CACCI President. It is my intention to provide you with regular updates during my time in this important role. I would like to start this update by thanking the CACCI Vice- Presidents for their support during the first months of my tenure.

Having been a CACCI Vice- President for some years prior, I know the collective experience and knowledge the Vice- Presidents bring in furthering CACCI’s aims and objectives. Again, I thank you! Next week I will embark on my first official international trip as CACCI President.

I will be holding key meetings in Singapore and New York on my way to Bogota, Colombia. In Bogota I will be meeting with my fellow World Chambers Federation General Council colleagues for our first meeting for the year. As CACCI’s representative, I believe our members and the Asia-Pacific region are critical on the global stage.

My only hope is that I do CACCI proud. I look forward to updating you in the next edition of the CACCI Profile on my reflections and insights from this important meeting. I also encourage you to connect with me via LinkedIn where I will be providing regular updates during my travels. But before I set off, I thought I would share with you my priorities as I start out representing and working for you, my CACCI friends and colleagues.

Firstly, I recognise that our strength lies in our diversity. Our members stretch from Türkiye all the way to New Zealand. We comprise 25 countries, spanning vast cultural significance and diversity.

CACCI is a proud organisation — having worked since 1966 to ensure prosperity for all within our region. Like many of you, I am realistic about the challenges that confront us. But we are also excited about the opportunity it presents.

The reality is — and we all know this now —the pre-COVID way of doing business is not fit for the post-pandemic world. The business of doing business has changed. We need to help businesses, particularly small and medium sized enterprises, to get SET for the future. In getting SET for the future we need to do three things well:

(1) Sustainability – We need to take this issue seriously. As business leaders, we know that it is what our staff expect, it is what consumers expect, it is what our planet expects. We need to ensure we prepare businesses for the regulatory environment that we will operate through over the next 30 years as we move toward net-zero commitments and economies.

(2) Entrepreneurial spirit – The types of businesses that will exist in 30 years will be completely different from the types of businesses we have today. We need to both support entrepreneurs and widen the scope of what it is to be an entrepreneur. Women, young people, people from marginalised backgrounds, people with disabilities, all need to be supported and included in our target beneficiaries as we look for new business development. Entrepreneurs, therefore, need mentoring, access to capital, access to digital payment methods, and the right incentives to ‘give it a go’ as we say in Australia.

(3) Trade – We need to build on the long and proud history of trade within our region. We need to provide access for SMEs to trade more easily with each other, and to help build more sustainable and inclusive supply chains. There needs to be new thinking in not only movement of goods but also labour as every country faces severe skills shortages. We need to build on the ethos of the ‘merchants of peace’ which sits at the heart of the International Chamber of Commerce, where if we trade in a fair manner with each other there will be little reason for any of us to enter into conflict.

So, in my time as CACCI President, I look forward to listening to the ideas you have in helping businesses get SET for the future. I look forward to building strong and enduring relationships with you. I look forward to representing you and advocating on your behalf in the many forums CACCI is and will be a part of in 2023 and beyond.

Again, I thank you for your support and for all that you do for CACCI.

Yours sincerely,

Peter McMullin AM
CACCI President

New Year’s Message from the President

It is a great pleasure for me, as the newly-elected President of CACCI, to convey my New Year’s greetings to all members of CACCI and readers of the CACCI Profile. I sincerely wish that the incoming year brings you better prospects and prosperity in all your undertakings.

As we leave behind 2022 with its continued difficulties brought about by the lingering impact of Covid-19 pandemic, and enter 2023, I hope that, despite the uncertainties that may still prevail during the incoming year, we will all keep our resolve to serve our respective communities and remain relevant and of value to them.

As I embark on my first year of CACCI Presidency, I am confident that with the unwavering support of all officers and members, CACCI –  given its diverse  talents and resources – will be in a position to adapt to and meet the various challenges we may continue to face in 2023, and to identify the reforms needed to drive our Confederation – and our members –  in our ongoing transformation towards a stronger, more resilient post-COVID business environment.

I wish everyone a productive and bountiful year ahead!

Peter McMullin AM
CACCI President

Peter McMullin AM elected CACCI President for 2023-2024

Mr. Peter McMullin AM has taken over the helm of the Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI), assuming the position from Mr. Samir Modi, who served as CACCI President for four years from 2028 to 2022.

Mr. McMullin was elected as head of the Confederation during the 95th CACCI Council Meeting held on November 29 in Melbourne, Australia in conjunction with the 36th CACCI Conference. He is a former President of the Victorian Chamber of Commerce and Industry (VCCI), and currently sits on the International Chamber of Commerce (ICVC) Board in Australia. He was CACCI Vice President from 2014 until his election as President in November this year.

In his acceptance speech, Mr. McMullin said that “Despite the challenges we have in front of us, there is also great opportunity – the opportunity for chambers of commerce to support their members and the wider business community to truly build back better.”

“As economies emerge from the pandemic, the business community will be critical in ensuring peace, prosperity, prosperity, inclusion, and planetary health. We must make a just transition to a new economy,” Mr. McMullin said. “As a representative body of businesses in both developing and developed countries, CACCI will be at the forefront in an enabling business ecosystem that fosters greater partnership and collaboration,” the newly elected CACCI President pointed out.

Mr. Peter McMullin AM has an extensive legal and business career encompassing prominent toles in both the public and private sectors. Currently, he is Chairman and Director of McMullin Group, which provides strategic direction and financial management across a range of industries, He is also Special Counsel for Cornwall specializing in improving outcomes for the firm and its clients and facilitating meaningful connections between like-minded people in the area of business, politics, philanthropy and the arts within Melbourne and throughout Australia.

As an active philanthropist, Peter seeks to collaborate with other individuals and organizations to maximize the impact of his contributions.

Other representatives of CACCI Primary Members were also elected as CACCI Office-Bearers for the next two years. These included:

As Vice Presidents

• Hiroshi Oshima, President, Sembikiya Fruit Co. (Japan)
• Henry Kao, Chairman, I-Mei Foods Co. Ltd. (Taiwan)
• Ernest Yuen, Chairman, Kowloon CC (Hong Kong)
• Alireza Yavari, Deputy President, Int’l Affairs, ICCIMA (Iran)
• Sheikh Fazle Fahim, Chairman, Euro-Petro Product Ltd. (Bangladesh)
• Khurram Sayeed, CEO/Director M/s. Planet Energy Ltd.(Pakistan)
• Pradeep Kumar Shrestha, Managing Director, Panchakanya Group (Nepal)
• Rifat Hisarciklioglu, Chairman, Eskihisar Group of Companies (Turkey)

                Honorary Treasurer

• Leslie Wong, Permanent VP, Kowloon CC (Hong Kong)

Budget Commission

• Morris Li, Chairman, CTBC Bank (Taiwan)
• Sheikh Sultan Rehman, CEO, SR Twisting, SR Enterprises and Success Route (Pakistan)

CACCI President Modi Speaks at Global Diaspora Business Summit

CACCI President Mr. Samir Modi was invited to be a speaker at the ASEAN Legal Alliance Conference and Global Diaspora Business Summit 2022 jointly organized on 24 November 2022 in Singapore by the ASEAN Legal Alliance and the GA Group headed by Mr. George Abraham, Chairman of the CACCI SME Development Council.

Mr. Modi shared his views and insights on issues surrounding the event theme “Emerging from the Pandemic to a New Normal”, particularly on the role that chambers of commerce and regional business organizations such as CACCI can play in helping their respective members address the challenges before them, and in strengthening their effort to emerge from the pandemic environment to a so-called New Normal.

He stressed the importance of business networking to encourage greater interaction among individual companies and business communities in the Asian region which he said was crucial to enable them to go forward. He therefore urged them to help each other to address challenges on the basis of consultation and coordination and pursue common development. We need to share our insights, build consensus and contribute to promoting development and prosperity in Asia and the world, he pointed out.

“We all have our own comparative strengths and our economies are highly complementary. Greater openness and deeper cooperation within the region will be crucial for the sustained fast growth of Asian economies. Deeper regional integration under the current circumstances can help us better leverage our comparative strengths,” Mr. Modi concluded.

President Modi Joins Leadership Summit 2022 Organized by IORBF

CACCI President Mr. Samir Modi was invited to be a speaker at the Leadership Summit 2022 organized by the Indian Ocean Rim Business Foundation (IORBF) – under the chairmanship of CACCI Vice President Mr. Sheikh Fazle Fahim – on 20-21 November 2022 in Dhaka, Bangladesh focusing on the theme “Roadmap for Post-Pandemic Progress”.

In his speech, Mr. Modi stressed the need for business organizations to define strategies to adopt to the changing global markets – how to build a more resilient organization; how to gain access to new markets and uncover new investment and business opportunities; how to network with and build strategic alliances with each other; and how to play greater role in the region’s economic growth and development.

To help members address all these challenges while at the same time take advantage of the opportunities they offer, regional business associations such as CACCI and IORA must provide services that will enable their constituencies to expand beyond their territories and reach out into the global market, services that they can integrate into their roadmap for post-pandemic progress. Mr. Modi explained.

President Modi Attends WCF General Council Meeting in Paris 

CACCI President Modi (middle, above photo) participated in the meeting of the ICC World Chambers Federation (ICC WCF) General Council held on November 7 in Paris. It was the second meeting FOR 2022 of the General Council, which is the governing body of the ICC WCF in 2022. One of the activities at the meeting was the formal presentation by the two organizations bidding to host the 14th World Chambers Congress being organized in the ICC WCF in 2025. Mr. Modi is member of the Board of Jury that will select the winning bidder, which is expected to be known before the end of 2022. As a transnational chamber, CACCI is a permanent member of the ICC WCF General Council and is represented this year by Mr. Modi as CACCI President. Above photo shows Mr. Modi posing with CACCI’s key contact persons at ICC WCF (from left to right) Mr. Julian Kassum, Ms. Lea Puteaux, Ms. Stephanie Vieilledent, and Ms. Julie Sonlangduangchanh.

New ‘Bretton Woods’ needed to restore supply chain resilience

Press Release

New ‘Bretton Woods’ type agreement is needed to restore supply chain resilience, lift productivity, ease inflationary pressure, and restore global prosperity

CACCI President Samir Modi

(1) Ambitious global coordinated action is needed now to tackle the world’s problems. This was the call made recently by Mr. Samir Modi, President of the Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI), for achieving a successful world trading system. CACCI is a regional association of chambers of commerce and business associations from 25 Asia-Pacific countries and independent economies representing over 150 million business enterprises employing perhaps a billion people.

(2) According to Mr. Modi, international trade accounts for over 30 percent of global GDP, yet it is beset with rising barriers to commercial exchange, multiple agendas being pursued, the resort to trade sanctions for political outcomes, and supply chain uncertainty. De-globalization has become a real concern, he noted.

(3) Mr. Modi said that the time has come for a new Bretton Woods type compact to reset the way sovereign nation states can cooperate for mutual benefit. “I use ‘Bretton Woods’ as shorthand for the need for the ambitious reform of the world’s trade and financial system as occurred nearly 80 years ago”, he explained, adding that the multilateral system established back then proved to be the lifeblood of the unprecedented rise in living standards that followed.

(4) Mr. Modi pointed out that since then, the multilateral system, especially the WTO, has been eroded under the weight of mission creep, lack of compliance with international rules (some of which are contradictory), and an inability to deal with new issues in a new digital age. “Without a clear sense of purpose, accurate diagnosis of the problems and recognition of the need for cooperation based on self-interest, we are not likely to make the necessary progress”, he said.

(5) According to Mr. Modi, recognition of these problems is not new. At the G-7 meeting in Cornwall last year, leaders called for the ‘root-and-branch reform’ of the world trading system. But nothing has happened. Instead, the world has become pre-occupied with the fall-out of the Covid-19 pandemic with its widespread supply chain disruption, the geopolitical tensions including the war in Ukraine with the weaponization of trade sanctions resulting in energy and food crises, the resurgence of inflation causing Central Banks to lift interest rates, exacerbating the debt burden amassed during the pandemic. Little wonder the IMF has revised down global economic prospects raising the specter of a global recession. “This piecemeal attention to these real-world problems is a major mistake”, Mr. Modi said, adding that these problems are inter-connected, and each fails to recognize the contribution trade can make to solve these ills.

(6) Mr. Modi stressed that an open, non-discriminatory, rules-based multilateral system would do wonders for the world economy, noting that while plenty of leaders and policymakers will readily mouth these words, rarely do they drill down into what their 2 implementation means and why they are so important. Further elaborating on this point, Mr. Modi explained the following:

(*)‘Open’ means no government-imposed barriers to trade that simply restricts commerce.

(*) ‘Non-discriminatory’ means everyone is treated the same so competition is greatest. Competition is the driver of the adoption of innovation that leads to productivity which is virtually the sole long-term source of prosperity.

(*) ‘Rules-based’ is essential to lower risks of commerce, encourage investment and trade. But rules are worthless without compliance. In a world of sovereign nation-states (and this aspect evades many people), compliance can only occur out of self-interest. So, assessing the national interest from trade is essential for there to be compliance with rules – yet rarely is this done in a proper way.

(*) Finally, ‘multilateral’ stands its best chance when nations unify around a simple goal. Mission creep, all too common in global institutions, where multiple goals are pursued confuses the agenda, and weakens the multilateral commitment to trade. Notice that these ‘other goals’ are not unimportant, it is simply a case of using the right tool for the right job. We are asking the WTO to do things it is not equipped to do.

(7) Mr. Modi referred to a well-researched policy position that it has recently released to achieve an open, non-discriminatory, rules-based multilateral trading system that has 15 recommendations. He said that these recommendations follow from an academic study Rebuilding the World Trading System by Andrew Stoeckel, nominated as one of the ten best economic reads for the summer 2022 by Martin Wolf, Chief Economics Commentator of the Financial Times. Adopting these 15 recommendations would make material progress to a better, more prosperous trading world, Mr. Modi pointed out.

(8) The CACCI President emphasized that reform of the world trading system would improve supply chain resilience, lift productivity easing inflationary pressure, ease debt burdens and increase prosperity, providing the resources to address other social and environmental goals like education and climate change. “That is why root-and-branch reform in a new Bretton Woods style agreement is needed as top priority”, he said, adding that piecemeal tinkering and tweaking current arrangements will not do what is required given the dimension of the world’s problems. “I don’t think negotiators realise the scale of the problems we are up against’, he said. “Partially solving things like fishing subsidies after 20 years of negotiation, important as that is, simply will not cut it for what is required”, he further explained, stressing that bold big picture thinking addressed in a serious way is needed.

(9) “Trade is simply commerce across borders and Chambers of Commerce know what is required to enhance the buying and selling of goods and services, after all, they live and breathe commerce every day. It is time governments listened to those ideas because a better world with higher living standards would be the result,” Mr. Modi concluded.

October 2022

CACCI President Meets with ICT Council Chairman on Proposed Smart Solutions Forum

CACCI President Mr. Samir Modi (rightmost, top row) met virtually with Mr. James Chiao, Chairman of the CACCI ICT Council (leftmost, middle row), and CACCI Secretariat executives on July 27 to exchange views on the proposed webinar series on International Smart Solutions this year. The series aims to establish a communication platform between smart solution providers and international enterprises, provide consulting services, understand the problems faced by enterprises, and solve their problems through the Taiwanese and other member countries’ smart solution platforms.

CACCI President Meets with ICT Council Chairman on Proposed Smart Solutions Forum

CACCI President Mr. Samir Modi (rightmost, top row) meets virtually with Mr. James Chiao, Chairman of the CACCI ICT Council (leftmost, middle row), and CACCI Secretariat executives to exchange views on the proposed webinar series on International Smart Solutions this year.  The series aims to establish a communication platform between smart solution providers and international enterprises, provide consulting services, understand the problems faced by enterprises, and solve their problems through the Taiwanese smart solution platform. The inaugural session I scheduled to held on August 31, 2022.

CACCI President Modi pens letters of support to Sri Lanka members

In light of the recent protests and general political upheaval in Sri Lanka, CACCI President Samir Modi penned letters to the Ceylon Chamber of Commerce (CCC) and the Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL), expressing CACCI’s sympathy and support for the current situation.

In the letter, Mr. Modi writes: “It is with great concern that we learned of the massive protests that recently took place in Colombo due to the economic upheaval that the country is undergoing, and which has resulted in the current political turmoil. We hope that you, your family members, your Chamber officers and staff, and the operations of your Chamber have not been adversely impacted by these recent developments in your country.”

“On behalf of the officers and members of CACCI, I wish to convey to you and the entire Sri Lankan people our deepest apprehension with what is going on in the country’s economic and political front. We hope and pray and deeply believe that you will be able to overcome this worst crisis that your country has experienced in the past few years, and that Sri Lanka will come out of it an even stronger and more stable nation.”

CACCI President Samir Modi joins B20 Indonesia 2022 Digitalization Task Force

CACCI will once again take an active role in the upcoming B20 Summit 2022, with Indonesia as host.

The B20 Indonesia 2022 Secretariat, which is chaired by KADIN Indonesia, has accepted CACCI to be a member of the Task Force on Digitalization. As member, CACCI – to be represented by President Mr. Samir Modi – will be invited to attend a series of meetings of the Task Force in the next few months to formulate its recommendations on the digitalization transformation process of B20 member countries, to be submitted to the G20 Summit Meeting in Bali, Indonesia scheduled to take place in October.

Statement on Ukraine-Russia Conflict

March 17, 2022

To all CACCI Members, Partners, and Friends

The current Ukraine-Russia conflict has come at a time when the global economies are just gradually coming out of the debilitating impact of the COVID-19 pandemic and the ongoing trade wars between major countries on businesses, particularly SMEs, worldwide and on societies as a whole.

As an association established to promote regional cooperation among the business communities in the region with the view to enhancing the economic growth and development of its individual member countries and of the region in general, the Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI) expresses its deep concern about the adverse economic, social, cultural, and humanitarian consequences of the Ukraine-Russia crisis on its members and their respective constituencies.

We therefore join the call of many international, regional, and national business organizations – including our colleagues from Ukraine and Russia – for governments and leaders concerned to continue on their concerted efforts to bring the situation under control through peaceful and sincere dialogue and negotiations, so that the adverse ramifications on global trade and investments – as well as the social and humanitarian crises that the conflict has brought about – will be short-term and can be mitigated and contained without causing any serious or lasting damage on any individual country or a particular social sector.

Sincerely yours,

Samir Modi
President

New Year’s Message from the President

The year just passed continued to see many businesses –especially the SMEs in developing countries – impacted by the unabated challenges and lingering

extraordinary circumstances brought by the Covid-19 pandemic. As we enter the New Year, and with the virus still seen as a threat, it is important for us to remain as determined as ever to set in place measures and strategies that will help us respond to the health crisis while rebuilding for the future. Indeed, a strong business sector is needed for a sustainable recovery.

I believe that chambers of commerce and regional business organizations such as CACCI will have a role to play in helping their respective members address the challenges before us. Today, more than ever, the importance of business networking to encourage greater interaction among individual companies and business communities in the Asian region will be crucial to enable us to go forward.

With 2022 referred to as the Year of the Tiger under the Chinese calendar, let us all make an effort to imbibe the enviable character of the fierce animal. Tigers are known to be vigorous and ambitious, daring, and courageous, and while they – like many other animals – occasionally meet failures, they actually never truly fail. Tigers will always find a way to stand back up and succeed in the end.

I wish you all a more successful, productive, and re-energized year ahead, and look forward to your continued strong support of CACCI and its activities!

SAMIR MODI
President
CACCI Planning

President Modi Meets with CACCI VPs on Promoting the CACCI Study on “Rebuilding the World Trading System”

CACCI President Mr. Samir Modi on December 16, 2021 met with CACI Vice Presidents or their respective representatives to discuss the next steps to promote the CACCI Study on “Rebuilding the World Trading System.”  Among others, each of the CACCI Vice Presidents agreed to help promote the CACCI study to CACCI Primary Members assigned to them and request them to disseminate the study to their local business community, relevant organizations, and government officials (particularly trade ministers), and secure their support for the recommendations contained in the study.

The CACCI Vice Presidents were also requested to send a list of other non-member chambers from Asia-Pacific and from outside the region, along with a list of other regional and international organizations, that they may wish to approach and ask for assistance in promoting the CACCI study.

CACCI President speaks at PCCI’s National Chamber Management Forum

CACCI President Mr. Samir Modi delivered a speech on “Best Practices in Chamber Management” at the National Chamber Management Forum on November 16. The event was organized by the Philippine Chamber of Commerce and Industry (PCCI) and conducted via Zoom.

While he is not a Chamber person, Mr. Modi’s associations with National and International Chambers of Commerce, especially FICCI & CACCI, have provided insight and understanding on how they function and work.

He began by mentioning the important driving element of any chamber, its “strategies for membership recruitment and retention”, adding that most national chambers target members based on 3 crucial segments:

(1) Leaders in Core sectors: The initial starting point for membership recruitment strategy of a national chamber usually involves identifying the core sectors of any economy which contribute to the growth and development and target top 50 companies in those sectors for membership. This would ensure representation of leading players in each sector in the committees and councils of chamber and drive other small players to take membership.

(2) SMEs and MSMEs: Other than large players and companies, a special focus on membership of SMEs and MSMEs of any country is always critical in membership recruitment as they are the backbone of any economy and form a significant part of industry in any sector. The strategy for SMEs and MSMEs always varies immensely for that of larger companies which can include lower membership fee.

(3) New Age sectors: It is important to evolve membership strategy every now and then by engaging with new age sectors such as fintech, e-commerce and start up and innovation. Chambers always strive to expand membership base by getting companies from such new age sectors on board as they are on the lookout for platforms to provide them visibility and voice, which otherwise is challenging for such new sector companies.

Regarding membership retention, leading chambers ensure membership retention by providing a gambit of services for regular engagement and exposure through several key strategies.

Mr. Modi stressed that it is also important to ensure that members get incremental benefits with each passing year in terms of benefits and services. Retention of key members will happen if their leaderships find these platforms and services fruitful and help them in building pillars of retention.

With Chamber Operation and Services, the overall objectives of any operation or services provided by a national chamber is to represent the interest of the industry; to be the thought leader for the industry; and to enhance the efficiency and global competitiveness of the industry and expand business opportunities both in domestic and foreign markets. Some key activities that are undertaken to meet and achieve these objectives include:

• Organizing regular National Executive committee meetings for primary members to engage and share issues and concerns for which they need Chamber support
• Business matchmaking services
• Networking Sessions for CEOs in different regions
• Services through others allied bodies
• Visa Recommendation Letters for Business Meetings

Other important services include providing networking opportunities to interact with other members and institutions and meet global business and political leaders through seminars, training programmes, conferences, and meetings.

Information dissemination also forms a key deliverable for a national chamber which includes news round-ups, calendar of events, press releases, policy announcements, newsletters, business surveys, forecasts, and reports.

As well, undertaking Policy Work is important, and may include participation in National Policy Committees and task forces; expert advice on government legislations and regulations, and representations to Union and Provincial or State governments and other institutions, to name a few.

Concluding his speech, Mr. Modi said that most chambers in India have multiple models for financing but that the core of any chamber financing is driven by membership. Annual memberships of key corporates in the country are a pivotal part of Chamber financing, though, many Chambers have successfully tried other modes of revenues as well.

35th CACCI Conference “Sustainable and Resilient Growth Though a Robust World Trade”

CACCI wishes to invite its members and friends to join this year’s  35^th CACCI Conference to be held virtually on November 2, 2021 at 2:00 PM, Taipei time.

Co-organized by our Primary Members from Taiwan, namely, the Chinese International Economic Cooperation Association (CIECA) and the Chinese National Association of Industry and Commerce (CNAIC), this year’s online annual gathering carries the theme “Sustainable and Resilient Growth Through a Robust World Trade.”

Below is the latest Conference Program for your perusal.

We encourage you to participate in this year’s 35^th CACCI Conference. Your presence will provide you the opportunity to virtually meet with international and regional experts who will share their views on how to address the challenges and grasp the opportunities presented by the ongoing transformation in the regional and global trade and investment environment.

To join the conference, please register HERE.

You will then receive a confirmation of your registration and instructions on how to join the meeting.

The 35th CACCI Conference Program

 November 2, 2021, 14:00 – 16:30, Taipei Time

(As of October 15, 2021)

14:00-14:05 – Introductory Remarks by the Moderator Mr. Peter McMullin, CACCI Vice President

14:05-14:15 – Welcome Remarks by CACCI President Mr. Samir Modi

14:15-14:35 – Special Presentation on “Lessons Learned from the Covid-19 Pandemic” by Dr. Chen Chien-Jen, Former Vice President of the Republic of China (Taiwan); Academician of Academia Sinica (Taiwan); and Academician of the Pontifical Academy of Sciences (Vatican); to share his perspectives on the effectiveness of the measures and other mitigation responses of many countries and what factors may have contributed to the success – or have hampered – their implementation.

14:35-14:55 Session on “Achieving Sustainable Growth Amidst Challenges and Disruptions in a Changing Global Environment,” focusing on the challenges and disruptions brought about by the pandemic on countries in the region, and their efforts to find innovative solutions to adapt in the so-called new normal that has emerged from the health crisis, and what businesses should do as part of their post-pandemic strategies to assure future growth and competitiveness

Invited Speaker: Ms. Priyanka Kishore, Head India and South East Asia Macro Services, Oxford Economics

14:55 –15:15 Session on the Digital Currency and how it is revolutionizing the global  trading system and reshaping the way business is done, and how in general it could fundamentally change the way people use money.

Invited Speaker: Dr. Oriol Caudevilla, FinTech Advisor and Management and Strategy Consultant

15:15 –15:30 Q&A Session

15:30-15:50 – Presentation by Dr. Andrew Stoeckel, Honorary Professor, Centre for  Applied Macroeconomic Analysis, Australian National University on the results of the CACCI study on “Achieving a Successful World Trading System”, which aims to examine the operations of the World Trade Organization (WTO) and to stress the need for the business community to recommend what reforms are necessary in the WTO and how to achieve them.

15:50-16:10 Special Presentation by Ms. Angela Paolini Ellard, Deputy Director General of the World Trade Organization (WTO) on “Making the WTO More Adaptable to the Economic and Trade Realities of Today.”  Ms. Ellard will share her views on how WTO members can work together to address the economic and health consequences brought about by the COVID-19 pandemic, what policy responses re needed to get the global economy going again, what challenges are currently faced by the WTO, and what should be done to make the WTO stronger, more agile, and more adaptable to the economic and trade realities  of today.

16:10-16:25 Q&A Session

16:25 – 16:30 Closing Remarks by the Moderator Mr. Peter McMullin

YEGAP Executive Committee meets CACCI President Samir Modi, YEGAP Founder Anna Periquet

Members of the YEGAP Executive Committee met virtually with CACCI President Mr. Samir Modi and YEGAP Founder and Former Chairperson Ms. Anna Marie Periquet on October 18, 2021.

The meeting aimed to provide the YEGAP Executive Committee to brief Mr. Modi and Ms. Periquet on its efforts over the past six months to restructure YEGAP with the aim of making it a stronger, stable, and sustainable in the years ahead and make the Group in a position to pursue its objective of promoting entrepreneurship in Asia-Pacific countries.

YEGAP Chairman Mr. Mangesh Lal Shrestha in his Opening Remarks expressed his hopes that, through the meeting, he would hear from Ms. Periquet what her aspirations were when YEGAP was first formed in 2004, and to listen from Mr. Modi on what his vision is for YEGAP and the role it can play in helping CACCI achieve its objectives.

He proceeded to introduce the members of the YEGAP Executive Committee, mentioning first the six Vice Chairmen, with each one representing one of the major geographical regions covered by the CACCI membership (e.g., East Asia, Southeast Asia, South Asia, Central Asia, West Asia, and Oceania). He also noted that 14 of the 25 CACCI member countries are represented among the 23 current total members the Committee.

https://youtu.be/2WO5loKI3H8

Mr. Mangesh informed Mr. Modi and Ms. Periquet that the YEGAP Executive Committee met five times over the past six months to discuss the restructuring of YEGAP and then presented the new vision mission, core values, 2021-2023 theme and tagline approved by the Executive Committee members, as well as the six committees and their respective chairs.

YEGAP Founder and Former Chairperson Ms. Periquet said that she first broached the idea of forming a Young Entrepreneurs Group in 2004 to then CACCI President Mr. K. K. Modi, the late father of Mr. Samir Modi, during a CACCI meeting in Malaysia.

She explained that she was always the youngest delegate in all the CACCI meetings that she attended before (along with her father the late Dr. Aurelio Periquet, one of the founders of CACCI). Hence, as an entrepreneur herself then, she thought of setting up a group of young entrepreneurs from CACCI member countries and bring them together during CACCI gatherings. To her surprise, Mr. Modi endorsed her proposal.

Thus, the Committee on Youth Entrepreneurship – as YEGAP was called originally – was formally set up later in 2004 during the CACCI Council Meeting in Phnom Penh, Cambodia, and its inaugural breakout session was held in February 2005 during the CACCI Council Meeting in New Delhi, India.

After having chaired YEGAP for many years, Ms. Periquet said she then considered resigning from the chairmanship of the Group to give way to the younger business leaders who were active in CACCI.

She met Mangesh Lal Shrestha during the CACCI meeting in Kathmandu and saw his potential, and is therefore very happy that he took the initiative of restructuring YEGAP to make it an even stronger organization. She said that with Mangesh as Chairman and with the new members of the YEGAP Executive Committee, she is confident that YEGAP is in good hands and is definitely on the right track to successfully achieve its objective of promoting entrepreneurship in the region.

CACCI President Mr. Samir Modi thanked the Officers and Members of the YEGAP Executive Committee for convening the meeting and giving him and Ms. Periquet the opportunity to meet each one of them and to be updated on what the Committee has done to restructure YEGAP and to be briefed on what its plans to do in the next year or so.

Mr. Modi said he looked forward to working closely with the YEGAP Executive Committee to further the success of CACCI and the business community of the region as a whole, especially the budding young entrepreneurs who have bright business ideas that need to be nurtured, cultivated, fostered and developed. He expressed confidence that – with their continued support and cooperation – CACCI will be able to accomplish a lot over the years ahead, and that CACCI will be relying on YEGAP and its officers in promoting a proenterprise spirit among CACCI’s younger members whom the Executive Committee members ably represent.

Successful CACCI Business and Investment Summit held June 4 2021

The Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI), in cooperation with the Chinese International Economic Cooperation Association (CIECA), Taiwan, the Chinese National Association of Industry and Commerce, Taiwan (CNAIC), and the Importers & Exporters Association of Taipei (IEAT), jointly conducted the first virtual CACCI Business and Investment Summit on June 4, 2021 which was attended by some 130 delegates from 24 countries.

With the COVID-19 pandemic triggering economic and social shocks globally, sparing no nation from its devastating multi-dimensional impacts, CACCI held the Summit aiming to explore business and investment opportunities in the region, which is also part of a series of activities in 2021 in celebration of CACCI’s 55th Anniversary since its founding in May 1966.

CACCI member chambers in Bangladesh, Taiwan and Vietnam were requested to invite: (a) relevant government agencies to make presentations on the business outlook and investment opportunities in their respective countries, and (b) foreign investors in their respective countries to make testimonials on their experience and operations in the country.

The two-hour virtual Summit was kicked off by the Welcome Remarks by CACCI President Mr. Samir Modi.  In his Remarks, Mr. Modi expressed his appreciation to participants who joined the first virtual Business Summit organized by CACCI, stressing the importance of CACCI as an apex regional business organization and platform where businesses can network and explore possible areas of cooperation, and in so doing, increasing business interaction and promoting regional economic growth.

Mr. Modi also indicated that this Summit is only one of several activities CACCI has planned for 2021 to celebrate the milestone of its 55th founding Anniversary. And depending on the outcome of the event, more Business and Investment Summits may be organized in the future to showcase other CACCI member countries.

Moderated by Ms. Kristy Hsu, Director, Taiwan ASEAN Studies Center Chung-Hua Institution for Economic Research, Taiwan, the virtual Summit featured the following speakers from the three countries, respectively: Bangladesh – Mr. Mohammad Hasan Arif, (Joint Secretary), General Manager (Administration & Finance), Bangladesh Economic Zones Authority (BEZA); Mr. Shekar N. Rajashekaran, Managing Director and Sub-Cluster Head, Bangladesh and Sri Lanka, Citibank; Taiwan – Mr. William Tang, Director, InvesTaiwan; Mr. Brett D. Aaron, CEO, BABI International Corp.; Vietnam – Ms. Hoang Thanh Tam, Head of the Investment, Promotion Division, Foreign Investment Agency, Ministry of Planning and Investment of Vietnam; Mr. Brian Chen, Partner of KPMG/Director of The Council of Taiwanese Chamber of Commerce in Vietnam.

Invited speakers were requested to share their insights on the latest economic trends and investment policies in Bangladesh, Taiwan and Vietnam, as well as the business potentials and advantages that each country has to offer for foreign investors.  Their presentations all indicate that, despite being impacted by the ongoing COVID-19 pandemic, their respective economies show positive outlook as they begin to regain their footing and show signs of recovery.

This encouraging prospect is attested to by recent economic forecasts released by the Asian development Bank, the World Bank, the International Monetary Fund (IMF), and the UN Economic and Social Commission for Asia and the Pacific (UNESCAP). “Given such an optimistic outlook, now is the time to invest in the region,” CACCI President Mr. Modi concluded in his Welcome Remarks.

The recording of the webinar is available at the CACCI Youtube channel HERE.

The 4 presentations can be downloaded HERE.

CACCI President hosts lunch for Taiwanese Representative in India

CACCI President Mr. Samir Modi (3rd from left) hosted lunch on March 8, 2021 for key officers of the Taipei Economic and Cultural Center (TECC) in India led by Ambassador Baushuan Ger (4th from left) and of the Federation of Indian Chambers of Commerce and Industry (FICCI).

The lunch served as an occasion for Mr. Modi and the FICCI officers to formally welcome Ambassador Ger to India, and to discuss possible areas of cooperation between their respective organizations.

The photo also shows (from left to right): Mr. Gajendra Badgujar, Additional Director & Head, East Asia and CACCI, FICCI; Ms. Aneesha Duggal, Special Assistant to the CACCI President; Mr. Manish Sharma, Co-Chair, FICCI India-Taiwan Business Cooperation Committee and Chair, FICCI Electronics and White Goods Manufacturing Committee and President & CEO, Panasonic India; Mr. Manish Singhal, Secretary-General, FICCI; Mr. Jason Hsu, Director, TECC; and Mr. Alex, Economic Section, TECC.

Steering Committee for CACCI Study on “Resurrecting the World Trading System” holds 1st virtual meeting

The Steering Committee for the newly commissioned study by CACCI on “Resurrecting the World Trading System” held its first virtual meeting on February 2, 2021.

Committee members include CACCI President Mr. Samir Modi; Chairman of the Advisory Board and CACCI President Emeritus Mr. Ken Court; CACCI Advisory Board Members Amb. Benedicto Yujuico from the Philippine Chamber of Commerce and Industry, and Mr. Jemal Inaishvili from Georgian CCI; CACCI Vice Presidents Mr. Peter McMullin of ICC Australia, Mr. Rifat Hisarciklioglu of TOBB, Mr. Sheikh F Fahim of FBCCI, Dr. Pedram Soltani of ICCIMA, and Mr. Teruo Asada of JCCI; Chairman of the CACCI Working Group on Policy Advocacy Mr. Bryan Clark from Australian CCI; and CACCI Director-General Mr. Ernest Lin.

During the meeting, members were briefed by Mr. Court on the background and purpose of the proposed study project, which is not only timely given that CACCI member countries are now facing a new world order, but will also ensure that CACCI is seen as a serious policy advocate for the business sector in its efforts to address the currently complicated trade and investment issues.

Mr. Clark then clarified the role of the Steering Committee, which is to ensure that the study is conducted in an orderly way and that the agreed timelines and expectations are met. Among others, the Committee would assist CACCI in such tasks as:

1. developing an appropriate policy response to advocate in ways that will achieve satisfactory reforms of the WTO based on the report recommendations
2. identifying appropriate supporters within the business and political landscape who can become partners and ambassadors for the project and its outcomes
3. engaging the home nations of CACCI members to garner national support for the report recommendation and policy position of CACCI.

To ensure all things remain on track for the duration of the project, the Steering Committee has agreed to meet once a month, with the next meeting scheduled for March 2.

CACCI President Joins Virtual WCF General Council Meeting

CACCI President Mr. Samir Modi represented the Confederation in the meeting of the WCF General Council Meeting held virtually on October 1, 2020.

The online meeting was presided by WCF Chair Mr. Hamad Buamin. Among the items discussed at the meeting included: (a) ICC’s Global Actions to Support the Economic Recovery and the Role of Chambers; (b) Sharing of outstanding initiatives and experiences of chambers leading the COVID-19 response; (c) ICC Centers for Entrepreneurship; (d) ICC/WCF Regional Network Meetings; (e) Oslo Business for Peace Awardees; and (f)

Preparations for the 13th World Chambers Congress scheduled to take place in Dubai on November 23-25, 2021.

The WCF is a specialized division of the International Chamber of Commerce (ICC) for its chamber of commerce members worldwide. The WCF serves as a forum where chamber leaders and senior executives can communicate with each other and collaborate on matters of mutual interest, whether solving problems or realizing opportunities.

CACCI’s participation in the activities of the WCF gives it the opportunity to network with local, regional, national, bilateral and transnational chambers, public and private law chambers, from all parts of the world. As a transnational chamber, CACCI is designated a permanent member of the General Council, the governing body of the WCF.

CACCI President Samir Modi featured as Global Indian of the Year 2019-2020

The officers and members of the Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI) wish  congratulate CACCI President Mr. Samir Modi  on being featured as Global Indian of the Year 2019-2020 by Asia One Magazine and URS Media in recognition of your special work in the industry and society.

This is indeed a great honor for Mr. Modi and one which he rightly deserves. His highly innovative ideas, excellent business acumen, and extraordinary contribution to the Indian society have certainly made an indelible mark in the community he serves.

CACCI President donates to Foundation

The CACCI Foundation received a financial boost with the additional donations received recently from CACCI President Mr. Samir Modi and the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI). Mr. Modi donated US$10,000 to the CACCI Foundation.

This was on top of his earlier contribution of US$5,000 made in 2017. On the other hand, the FBCCI, under the leadership of President Mr. Sheikh F Fahim, gave US$1,000 to the Foundation. The additional funds from Mr. Modi and FBCCI will go a long way in helping the CACCI Foundation to implement projects aimed at promoting entrepreneurship and the growth of SMEs in the region.

The ultimate objective is to assist CACCI member chambers in making SMEs become sustained contributors to the economic development of their respective countries. SMEs need financial assistance especially at this time when many of them are struggling to survive amid the challenges and uncertainties brought about by the ongoing Covid-19 pandemic. CACCI takes this opportunity to thank President Modi and FBCCI for their generous donations, and for their continued commitment to the Confederation in helping promote the interest of CACCI members.

Samir Modi, FICCI and CACCI prepare the Virtual 34th CACCI Conference of October 30, 2020

CACCI President Mr. Samir Modi and officers of the Federation of Indian Chambers of Commerce and Industry (FICCI) met with executives of the CACCI Secretariat to discuss preparations for the virtual 34th CACCI Conference scheduled to take place on October 30, 2020. This was the fifth time that such a preparatory online meeting was held following the first three conducted on July 29, August 6, August 19, and September 7.

Speakers Invitations

During the discussion, Mr. Gajendra Badgujar of FICCI reported that FICCI President Dr. Sangita Reddy will deliver 5-minute Welcome Remarks on behalf of the Host Chamber. Dr. Reddy’s remarks will be followed by the Welcome Opening Statement by CACCI President Mr. Samir Modi.

FICCI Secretary General Mr. Dilip Chenoy has agreed to be the webinar moderator. However, if someone from the media sector is available to take up the role of moderator, Mr. Chenoy will give way, since having a media person serving as moderator will give more media coverage to the Conference.

Mr. Amador Honrado from the CACCI Secretariat reported that we are in communication with Mr. Richard Koo from Nomura Securities, one of the main speakers, to secure his presentation.

Revised Conference Program

Mr. Samir Modi, CACCI president, suggested that the time allocation for the Conference be extended to 1 hour 45 minutes (from the earlier agreed 1 hour and 30 minutes) to allow adequate time for each of the three invited speakers to make their presentation in 20 minutes, with enough leeway for the panel discussion and the Q & A session.

With this agreed change, the Secretariat said that the Conference program would be amended accordingly, with the names of the FICCI President and the FICCI Secretary General added as well, and the revised version sent to Mr. Modi and FICCI for their reference.

Promotional flyer

Mr. Vrinda Seksaria from FICCI presented four optional designs of the promotional flyer for consideration by Mr. Modi and other meeting participants. One of the designs was unanimously chosen as the most appropriate one. FICCI added that additional relevant information can be inserted to the selected flyer design, such as the names of additional speakers (if any) as well as logos and details of sponsors once sponsorships come on board, among others.

FICCI also agreed to send the selected promotional flyer to CACCI Secretariat for comments, if any. Once finalized, it will be sent to all CACCI members, colleagues, associates and friends to help drum up participation for the Conference.

Update on Sponsorship Packages

Mr. Badgujar reported that FICCI has tentatively prepared the sponsorship packages, with a proposed amount of US$2,500 per sponsor. One of the benefits to be extended to sponsors is to nominate a panelist to the Conference. The nominated panelist will not be required to make a presentation but will only join the panel discussion as one of the discussants.

CACCI Secretariat suggested FICCI may consider setting a deadline for accepting sponsorships so as to leave enough time for accommodating relevant amendments in the promotional flyer and the program.

The CACCI Secretariat was requested to provide FICCI with the sponsorship packages of previous CACCI conferences reference. However, Mr. Modi suggested two categories of sponsorship would be enough for the 34th CACCI Conference.

FICCI will update the sponsorship packages accordingly and send the information to CACCI Secretariat which will then circulate it among CACCI Members to seek potential sponsors.

CACCI President speaks at TOBB Online Forum on International Relations in the Post-COVID ERA

Mr. Samir Modi, President of the Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI), was one of the special guest speakers at the online forum on “TOBB International Relations in the Post-Covid Era” organized by the Union of Chambers and Commodity exchanges of Turkey (TOBB) on July 1, 2020.

Mr. Modi was invited to speak on “Post COVID-19 and CACCI: The Economies of Asia-Pacific Countries”. The other speakers included Mr. Youseff H. Khalawi, Secretary General, Islamic Chamber of Commerce, Industry and Agriculture (ICCIA), who spoke on “Post COVID-19 and ICCIA: The Economies of OIC Countries”; and Mr. Gunter Verheugen, Advisor to the President of TOBB and Former Vice President of the European Commission, who as Keynote Speaker gave a general evaluation of the relations between the EU and the rest of the World, especially USA, China and the UK in the Post-Covid-19 and of Turkey-EU relations.

In his presentation, Mr. Modi pointed out that the COVID-19 pandemic has, with alarming speed, delivered a global economic shock of enormous magnitude, leading to steep recessions in many countries.

The baseline forecast envisions a 5.2% contraction in global GDP in 2020 – the deepest global recession in eight decades, despite unprecedented policy support. Per capita incomes in the vast majority of emerging market and developing economies are expected to shrink this year, tipping many millions back into poverty. By 2021, cumulative output losses worldwide are expected to reach US$8.5 trillion, wiping out nearly all gains of the previous four years.

The global recession would be deeper if bringing the pandemic under control took longer than expected, or if financial stress triggered cascading defaults. Focusing on Asia, Mr. Modi cited a recent report by the Asian Development Bank assessing the potential impact of COVID-19 on the region, pointing out the following: Developing Asia will barely grow in 2020 as containment measures to address the coronavirus disease pandemic hamper economic activity and weaken external demand.

The ADB forecasts growth at 0.1% for the region in 2020, the slowest growth for the region since 1961. While growth in 2021 is expected to rise to 6.2%, GDP levels in 2021 will remain below pre-crisis trends. Hit hard by COVID-109, South Asia is forecast by ADB to contract by 3.0% in 2020, compared to 4.1% growth predicted in April.

Growth prospects for 2021 are revised down to 4.9%from 6.)%. Economic activity in Southeast Asia is expected to contract by 2.7% this year before growing by 5.2% in 2021. Contractions are forecast in key economies as containment measures affect domestic consumption and investment including Indonesia (-1.0%), the Philippines (-3.8%) and Thailand (-6.5%).

On the other hand, Vietnam is forecast to grow 4.1% in 2020, the fastest growth expected in Southeast Asia. Central Asia’s economic activity is expected to contract by 0.5% compared with the 2.8 growth forecast in April due to trade disruptions and low oil prices. Growth is forecast to recover to 4.2% in 2021.

Meanwhile, restricted trade flows and declining tourism numbers have dampened economic outlook for the Pacific subregion. The sub-regional economy is forecast to contract by 4.3% in 2020, before rising to 1.6% in 2021. Inflation for developing Asia is forecast at 2.9% in 2020, down from a forecast of 3.2% in April, reflecting depressed demand and lower oil prices. In 2021, inflation is expected to ease to 2.4%

The ADB report further points out that border closures, travel restrictions, and lockdowns that outbreak-affected economies implemented to arrest the spread of COVID-19 will likely cut global trade by $1.7 trillion to $2.6 trillion. Global employment decline will be between 158 million and 242 million jobs, with Asia and the Pacific comprising 70% of total employment losses. Labor income around the world will decline by $1.2 trillion to $1.8 trillion—30% of which will be felt by economies in the region, or between $359 billion and $550 billion.

Mr. Modi noted that, faced with an unprecedented health, social and economic crisis, governments in developed economies have rolled out massive stimulus packages to minimize the fallout of the pandemic. He stressed that stronger global cooperation is indeed critical to contain the pandemic and extend economic support to countries hardest hit by the crisis.

To protect jobs and prevent a further rise in income inequality, governments need to ensure that the monetary and fiscal support measures boost productive capacities, rather than simply driving up asset prices. At the same time the crisis presents a window of opportunity for “recovering better”. Renewed global solidarity can help strengthen public health systems, build resilience to withstand economic shocks, improve social protection systems, and address the climate change emergency.

In this regard, Mr. Modi noted that many CACCI members are working with their respective governments in implementing stimulus packages to help confront the economic challenges posed by the COVID-19 situation. At the same time, they are also instituting measures aimed at minimizing the negative impact of the pandemic on the business operations of their respective constituencies.

He reported that during the virtual conference on “Roadmap Towards Back-to-Business for Asia Pacific Countries” jointly Organized by CACCI and FICCI on June 2, 2020, CACCI member chambers from seven Asian countries – including Australia, India, Georgia, the Philippines, Japan, Sri Lanka, and of course, Turkey – shared valuable information on the impact of the pandemic on their respective economies, what the business sector and government authorities in their countries are doing to mitigate the impact of the crisis on the economy, and what measures are currently being set in place as part of efforts to put back the economy and businesses on the road to recovery.

Mr. Modi also noted that CACCI has been working closely with other regional organizations in formulating strategies to deal with the pandemic, including the ASEAN Business Advisory Council and the Conference on NonGovernment Organizations in consultative status with the United Nations (CoNGO) In conclusion, Mr. Modi expressed his hopes that, despite the limitations that the ongoing crisis has placed on its resources, CACCI and its members will continue to pursue activities to further enhance the value of our organizations to our respective members and communities, to help rebuild business confidence, and to ultimately achieve economic recovery.

CACCI President joins online meeting on NZ – India relationships

Mr. Samir Modi, President of the Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI), was invited by the Wellington Chamber of Commerce (WCC) to an online meeting on June 26 for a discussion on New Zealand-India relationships.

Organized by Mr. John Milford, Chief Executive of WCC, the online meeting was also attended by Mr. Stephen Jacobi, Executive Director of both the New Zealand International Busines Forum(NZIBF) and the APEC Business Advisory Council (NZ); Ms. Fiona Cooper, Associate Director of the NZIBF and Vice-Chair of East Asia Business Council’s RCEP Working Group; and Mr. Fergus Grenfell, Policy Researcher at WCC. Discussions focused mainly on how to further improve the economic and business relations between New Zealand and India, which the meeting participants agreed need improvement.

Aside from getting the Regional Comprehensive Economic Partnership (RCEP) approved soonest preferably with the participation of India, Mr. Modi proposed three other channels for strengthening economic ties between the two countries, namely:

(1) Conduct more dialogues with the Federation of Indian Chambers of Commerce and Industry (FICC) which is the biggest business grouping representing a broad range of industry and service sectors of India;

(2) Establish more direct business – to – business contacts and dialogues between New Zealand and India; and

(3) Take advantage of the upcoming 34th CACCI Conference to be held in October 2021 in Wellington in conjunction with the Meeting of the APEC Ministers Responsible for Finance scheduled at that time during which Mr. Modi will try to organize a big delegation from India to join him.

The two sides agreed to continue their regular dialogues on the matter in the months ahead.

Successful CACCI-FICCI Joint Video Conference held on June 2th

The well-received virtual conference “Roadmap Towards Back-to-Business for Asia Pacific Countries” Jointly Organized by CACCI and FICCI on June 2, 2020 attracted the participation of more than 150 viewers who listened to the insights shared by our panelists from Japan, the Philippines, Australia, Sri Lanka, Turkey, Georgia, Bangladesh and India regarding the impacts brought by the pandemic on their respective countries as well as the opportunities on the road to recovery.

We are also pleased to share with you hereunder the link to view the recording of the CACCI-FICCI Joint Virtual Conference in the CACCI Youtube channel HERE.

Moreover, the Summary Report on the Virtual Conference can be read as follows:

INTRODUCTION

The COVID-19 pandemic has triggered economic and social shocks globally, sparing no nation from its devastating multi-dimensional impacts, further exacerbating existing vulnerabilities and inequalities and leading to immense suffering in regions around the world.

With the economic fallout from the global spread of COVID-19 continuing to increase, the Federation of Indian Chambers of Commerce and Industry (FICCI) and the Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI) invited representatives from selected CACCI member chambers – including those from Japan, the Philippines, Australia, Sri Lanka, Turkey, Georgia, Bangladesh and India – to convene online for a panel discussion.

The panelists were requested to share information and their insights on: (a) the expected impact of the health crisis on their respective economies; (b) what the business sector and government authorities in their countries are doing to mitigate the impact of the crisis on the economy and to safeguard business operations; (c) what measures are currently being set in place as part of efforts to put back the economy and businesses on the road to recovery; and (d) the challenges – and opportunities – that their markets face at the present time and what businesses have learned from this situation.

SUMMARY OF THE DISCUSSIONS

Welcome Remarks of the FICCI Secretary-General

FICCI Secretary General Mr. Dilip Chenoy in his welcome remarks shared the experience of India and the measures taken by Indian government. Among others, Mr. Chenoy noted the following:

(a) India has been severely impacted by COVID and has till date had 166,000 confirmed cases with 4,700 deaths. On the brighter side, The country has seen a fairly good recovery ratio, with some 71,000 Indians recovering from COVID. The number of deaths per million currently stands at 3.21 per million, as compared to UK with 557, the US with 301, and Spain and Italy with 580 and 545, respectively.

(b) Some of the major sectors of the Indian economy facing the heat of the impact include:

• Tourism & Aviation, with international and domestic travel closed, large scale cancellations taking place. Indian Association of Tour Operators estimates a combined loss of USD 1.13 bn in hotel, aviation & tourism;
• Media & Entertainment, with advertising expenditure on television expected to decline by 50% to 55% between April – June, FY2021 if the lockdown continues;
• Retail: According to Confederation of All India Traders (CAIT), the country’s retail sector has faced losses of up to USD30 billion over the past fortnight, with non-grocery/food retailers reporting an 80% to 100% reduction in sales, and IPL cancellation resulting in a revenue loss of USD 332.4-398.3 million.
• Consumer Durables: India imports 45% completely built units of consumer durables from China, and nearly 70% of the components for television, and other consumer durable products. Chinese suppliers have reportedly increased prices of TV panels by more than 15%

(c) Some of the key monetary measures taken by the Central Bank include infusing liquidity for NBFCs and MFIs, volatility and relief of borrowers by reduction in repo rates.

(d) The overall economic package by Government of India declared under the vision of “Aatmanirbhar Bharat” (which means self-dependent) is one of the highest economic packages in the world, amounting to 277 USD billions which is nearly 10.3 percent of India’s GDP. The Overall Economic Package is expected to have medium-long term impact but not much immediate impact.

(e) In addition, there have been several reforms for some of the crucial sectors including power, coal and minerals. Defence & space and aviation.

(f) FICCI has been at the forefront in supporting Government’s endeavor to revive the economy and help industry especially SMEs. It has developed a robust COVID response strategy encapsulating demand, supply and innovation/asset building to help Indian economy rebound post lockdown

(g) As far as the future of global trade is concerned, world trade is expected to fall by between 13% and 32% in 2020. Nearly all regions will suffer double-digit declines in trade volumes in 2020 and is likely to fall steeper in sectors with complex value chains including in Asia Pacific.

(h)  However, the good news is that if the pandemic is brought under control and trade starts to expand again, most regions could record double-digit rebounds in 2021 of around 21%.

(i) FICCI believes that the approach to tackle this situation could be on 4 pillars which also is applicable for Asia Pacific region, namely:

• Boost confidence in trade and global markets by improving transparency
• Keep global supply chains going, especially for essentials
• Avoid making things worse
• Look beyond the immediate

(j) Lastly, India has been promoting the idea of strengthening global manufacturing value chains given the disruptions in supply chains arising out of China and India could certainly play a significant role here along with our partners in Asia Pacific.

A global value chain breaks up the production process across countries. Firms specialize in a specific task and do not produce the whole product. In fact, a recent WTO report also strongly advocates this idea by showcasing how GDP per capita grows rapidly when countries break into limited manufacturing GVCs2

Keynote Address by the CACCI President

In his Keynote Address, CACCI President Mr. Samir Modi summarized the findings of a recent report by the Asian Development Bank assessing the potential impact of COVID-19. These include the following:

• The global economic impact of COVID-19 could reach $5.8 trillion (6.4% of global GDP) under a 3-month containment scenario, and $8.8 trillion (9.7% of global GDP) under a 6-month containment scenario.
• The potential economic impact on Asia and the Pacific is estimated at $1.7 trillion (6.2% of regional GDP) under a 3-month containment scenario and $2.5 trillion (9.3% of regional GDP) under a 6-month containment scenario, with the region accounting for 30% of the overall decline in global output.
• Under the short and long containment scenarios, the ADB report notes that border closures, travel restrictions, and lockdowns that outbreak-affected economies implemented to arrest the spread of COVID-19 will likely cut global trade by $1.7 trillion to $2.6 trillion.
• Global employment decline will be between 158 million and 242 million jobs, with Asia and the Pacific comprising 70% of total employment losses.
• Labor income around the world will decline by $1.2 trillion to $1.8 trillion—30% of which will be felt by economies in the region, or between $359 billion and $550 billion.

The ADB report, Mr. Modi added, also pointed out that governments around the world have been quick in responding to the impacts of the pandemic, implementing measures such as fiscal and monetary easing, increased health spending, and direct support to cover losses in incomes and revenues.

Mr. Modi said that according to ADB estimates, sustained efforts from governments focused on these measures could soften COVID-19’s economic impact by as much as 30% to 40%. This could reduce global economic losses due to the pandemic to between $4.1 trillion and $5.4 trillion.

According to the ADB report, these findings highlight the important role policy interventions can play to help mitigate damage to economies. They can also provide governments with a relevant policy guide as they develop and implement measures to contain and suppress the pandemic, and lessen its impacts on their economies and people.

Mr. Modi said that he was particularly pleased to note that many CACCI members are working with their respective governments in implementing stimulus packages to help confront the economic challenges posed by the COVID-19 situation. At the same time, they are also instituting measures aimed at minimizing the negative impact of the pandemic on the business operations of their respective constituencies.

Summary of Panelists’ Remarks

The Q&A session that followed the Keynote Address of CACCI President Mr. Modi was moderated by Amb. Abdul Hannan, Adviser to the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI). Ambassador Hannan is also Adviser to United Nation Secretary General’s Central Emergency Response Fund Advisory Group. He also served as Consultant to the World Intellectual Property Organisation.

The panelists and a summary of their respective remarks are presented below.

Amb. Benedicto Yujuico, President of the Philippine Chamber of Commerce and Industry, and Member, CACCI Advisory Board

Ambassador Yujuico pointed out the following in his remarks:

• The Philippine economy was doing well at the end of 2019, ranked as the second fastest growing economy in Asia, at a growth rate of 6%. The country enjoyed good employment figures, with average income high and poverty level down.
• However, with the onset of the COVID-19 pandemic, he likened the Philippines to a car travelling at 80 mph that suddenly hit the brakes
• Businesses had to advance salaries and bonuses to employees.
• Government stepped in with social amelioration programs when the lockdown lasted more than expected.
• Receipts from the BPO industry and remittances from the Overseas Filipino Workers from all over the world, which are major sources of US dollar income for the country, has slowed down to a trickle with the pandemic
• The Philippine Chamber of Commerce and Industry (PCCI) worked with the Department of Finance, the Department of Trade, and the National Economic Development Authority in developing a Roadmap to Recovery, outlining the measures that need to be set in place to keep the economy moving forward and to help the poor and the employees who have lost their jobs
• The PCCI also talked to the Bankers Association of the Philippines to extend assistance to the small and medium enterprises, which comprise 70% of economy, by restructuring their loans maturing from March 16 to Dec 31 this year, or moving maturity one year forward, and extending loans to SMEs to help them recover their businesses.
• The PCCI also participated in the government’s formulation of stimulus programs which are now starting to be implemented.
• The key challenge for the Philippines now is how to re-start the economy soonest and safely, thereby keeping the country alive by sustaining production and employment.

Mr. Jemal Inaishvili, Former President of Georgian Chamber of Commerce and Industry and Member, CACCI Advisory Board

Mr. Inaishvili noted the following in his remarks:

• Georgia has been quite successful in fighting the spread of COVID-19. Of the country’s total population of 3.5 million, there were only 794 cases reported, and 12 deaths. These compared well with the record of its neighboring countries such as Armenia and Azerbaijan.
• These figures were achieved due to the complete stop of business activities in the country
• The economy is now starting to open, with all restaurants and bars resuming business operations on June 2. Hotels, however, remain closed.
• From July 1, Georgian is expected to start receiving foreign visitors to the country.
• Nonetheless, the economic impact of the pandemic has been huge. For instance, transport and logistics experienced a reduction in business volume by as much as 50%.
• Georgia relies on tourists, with an average of 8 million visitors annually. However, this year, and probably the next, will be most difficult for the tourism industry, and hence, for the economy.
• The government has taken measures to help citizens and businesses. But businesses need to adapt to the new situation or the so-called “new normal.”
• While this year will be hard for Georgia, there are expectations that things will start to pick up next year. However, it will also depend on the situation in neighboring countries, particularly those with whom the country has economic relations.
• Mr. Inaishvili expressed confidence that Georgia will be able to handle the situation and become stronger

Mr. Bryan Clark, Director, Trade & International Relations, Australian Chambers of Commerce and Industry

Mr. Clark informed the webinar participants of the following:

• Australia was doing well in 2019. The budget was expected to be in surplus by May, in line with the country’s 29-year economic growth
• However, the Australian bushfires brought devastation to certain regions of the country, interrupting the strong economic performance in New South Wales and Victoria states
• Tourism activities were disrupted. Communities devastated, requiring re-construction.
• The pandemic closed international and inter-state borders. Businesses closed, and work from home was encouraged.
• However, it was difficult to implement work-from-home in remote areas. Hence, not everyone has been able to maintain businesses.
• The government implemented stimulus measures aimed at retaining employees, and maintaining relationship between employers and employees in the hope that businesses can restart
• Currently, international borders are still closed. However, state borders have re-opened, and hence, businesses are beginning to resume operations as well.
• With international borders remaining closed, the ACCI is working with New Zealand chambers to re-open businesses as soon as possible, since New Zealand is relatively safe and free of COVID-19
• While Australia has only 7.5k cases, with 6,900+ recovered and 100+ deaths, the country cannot yet open international borders to avoid risk of exposure from travelers coming from other countries
• The model suggested is to opening so-called bubble corridors with places considered safe (such as Canberra-Wellington) instead of whole countries
• Opening up to the small Pacific nations, which do not have COVID-cases, is also being considered, but still implement testing.
• The ACCI is working with the Australian government by proposing ideas to relevant task forces in the government.
• With the economy expected to decline by 6% this year from a 2% growth rate, the challenge now is to identify where the recovery would come from. Economists say that even if economies can recover domestically, without international engagement, growth may remain deficient
• Australia strongly relies on the China market. However, as the pandemic has demonstrated, one should not rely only on one or two markets. The challenge is to identify other opportunities offered by other nations instead of being dependent on just one nation. He said that CACCI, given the geographical scope of its membership, can play an important role in this regard. It is crucial for CACCI to use new technologies to connect its members whenever physical meetings are infeasible.

Mr. Çağrı Gürgür, Chief Adviser to the President, Union of Chambers, Commodity and Exchanges of Turkey (TOBB)

Mr. Gurgur pointed out the following in his initial remarks:

• As the outbreak of coronavirus seems endless, an important question to ask is: how long it will take human beings to contain the pandemic?
• For Turkey, the economic growth rate was 4.5% for the 1st quarter of 2020, and it is predicted that the economy would shrink in the 2nd and 3^rd quarters, but is expected to recover in the 4th quarter
• Aside from falling interest rates, supply chain disruption, and weakening demand caused by the pandemic, the price of oil is also a factor which influences Turkey’s economic performance.
• To boost the economy, the Central Bank and the Government of Turkey have been working together to introduce a series of measures to support businesses.
• With the joint efforts by the government and the industry sector, it is expected that the economic growth rate for Turkey for 2021 would reach 6%, assuming that no second wave of the pandemic will occur.

Mr. Manjula de Silva, Chief Executive Officer, Ceylon Chamber of Commerce

Mr. De Silva highlighted the following points in his initial remarks:

• As of June 2, there were about 1,600 confirmed cases and half of the patients had been discharged, and with only 11 deaths or less than 1% of the confirmed cases.
• The COVID-19 pandemic has added new challenges to the growth outlook of Sri Lanka, mainly the economic cost of the fiscal, monetary and macro financial measures announced during last couple of weeks. The sudden stoppage of businesses, closure of airports, supply chain disruptions will add pressure on the growth outlook.
• The impact of COVID-19 on the Sri Lankan economy included the following: (a) domestic virus containment measures have affected sectors such as tourism, apparel, and trading; (b) economic slowdown in key trading partners; (c) high cost of raising debt; (d) Low FDI inflows; (e) Low remittances from workers’ abroad; and (f) Low tourist arrivals and earnings due to travel restrictions.
• Tourism in March saw a sharp fall of 71% with no arrivals in April; manufacturing Purchasing Managers’ Index in April fell to historical low with fall in orders; and workers’ remittances fell by 32%.
• The Sri Lankan government took immediate actions to mitigate the impact of the pandemic, including the following: (a) early introduction of lockdown/curfew; (b) awareness creation campaigns via media; (c) encouraging both public and private sectors to work from home; (d) allowing agricultural activities to continue; (e) allowing manufacturing of selected essential items to continue; (f) online distribution of food and essential items; (g) cash handouts to vulnerable sections of the population; (h) keeping banks and other essential services open; (i) port operations being continued with introduction of some level of automation; and (j) introducing import restrictions to protect currency.
• Measures were taken to steer the economy and business towards economic recovery.
• Among the monetary and financial sector measures were: (a) Policy rates, Statutory Reserve Rate (SRR) and Bank Rate reduction; (b) Debt repayment moratoria for several sectors, SMEs and self-employed people; (c) Saubhagya COVID-19 Renaissance facility to provide soft loans for working capital needs and new comprehensive rural credit scheme; (d) Relaxing import restrictions on inputs required by exporters and manufacturers of essential products for the domestic market; and (e) Temporary restrictions for capital outflows.
• Fiscal measures taken included: (a) Cash grants of Rs. 5,000 as a lump sum payment for the low income families; (b) Introduction of maximum retail price for selected essential items; (c) Concessions for businesses engaged in tourism, textile and garments, and wholesale and retail trade sectors; (d) Allocation of funds to settle payment arrears; (e) Granted grace periods for VAT payments; and (f) Establishment of fuel price stabilization fund
• In addition, a tripartite agreement with the Employers’ Federation of Ceylon (EFC) and trade unions were inked to permit pay reductions proportionately to number of days worked.
• The Ceylon Chamber of Commerce submitted key macro proposals for strong and decisive measures including: (a) Seeking Rapid Release funds from institutions such as the IMF, ADB and World Bank; (b) Continue and Expand the Central Bank’s Crisis Action Plan; (c) Stringent Controls on Non-Essential Spending across Public and Private Sectors; and (d) Commitment of 2.5% to 3.0% of GDP towards Economic Recovery over a time frame of 12 months
• In addition, the Chamber recommended key stimulus measures, classified into three major categories: Immediate-Term (to secure economic recovery), Medium-Term (to enable fast-track economy), and Long-Term (to consolidate recovery)
• The Immediate-Term measures include: (a) Support Survival of Firms in Affected Sectors
• Priority for Employment Assistance Schemes; (b) Cash transfers to vulnerable segments of society using Digital Means; (c) Relief for Internal Sectors burdened by unpaid Government invoices via Sovereign backed financing; and (d) Interim relief for Citizens & SMEs
• The Medium-Term measures include: (a) Refinancing or credit guarantees to support concessionary relief financing provided by commercial banks; (b) Longer term arrangements to support Banks and NBFIs to match delayed inflows and Moratoria on Capital Adequacy ratios; (c) Comprehensive Digitisation of Government Services; and (d) Specific Focus on Tourism Recovery including a ‘Winter 2020/21 Visit Sri Lanka Campaign
• The Long-Term measures include: (a) Incentivise Debt Capital via tax exemptions; (b) Investment relief for companies that invest in COVID-Resistant sectors; and (c) Structural Re-Engineering, Digitisation and Transformation of Key Sectors – such as agriculture, education, energy and transportation.

Mr. Chikara Shimizu, Deputy General Manager, International Division, Japan Chamber of Commerce and Industry

Major highlights of Mr. Shimizu’s initial remarks included the following points:

• In Japan, a total of 16,697 people was infected and 900 were killed by Jun 1 since the first case was confirmed on January 15. The average number of new infections per day during the latest 7 days is about 45 people.
• The latest government’s monthly economic report showed that the Japanese economy is worsening rapidly in an extremely severe situation, due to the novel coronavirus.
• Under such circumstances, the government lifted the state of emergency that had been in place all over the nation since last week, and it is now gradually moving to the stage of the resumption of economic activities. Although depending on the employment situation, the economic downturn may last for a long time. But for now, it is expected that the economy will pick up, mainly due to personal consumption.
• Following the spread of the new coronavirus, the Japanese government is trying to shield the economy with an enormous stimulus package. The government enacted the first supplementary budget on April 30, which is worth $240 billion, and the second supplementary budget on May 27, which is worth $1.1 trillion. The combined size of stimulus would be an amount equivalent to about 40% of Japan’s GDP. Currently, emergency economic measures including cash benefits and interest-free loans are being implemented, mobilizing all policy measures in such fields as finance, banking and taxation.
• Companies are adopting staggered hours, teleworking, temporary leave, and cautious about social distancing. Even after the state of emergency was lifted, we have to start businesses that respond to the “new normal.” On top of that, we would have to prepare for a long battle to reach the normalcy while preventing the spread of new infections. In response to the current situation, the Japan Chamber of Commerce and Industry, and the Tokyo Chamber of Commerce and Industry are petitioning various requests to the government, including quick supply of funds to businesses in need and the IT utilization support for MSMEs.
• Chambers of commerce around the region – using CACCI as a platform – can exchange information and perspectives on what kind of changes are occurring in the world, in the region or in each country; and what kind of impact these changes have on the economy and on businesses. These can then serve as inputs efforts in promoting international business and economic growth in this region.
• Under the present circumstances, online shopping and telecommuting are becoming more prevalent. Business people must accurately grasp such changes in society and examine the possibility of new business developments, particularly with more innovation and greater utilization of IT.
• To start easing entry restrictions to Japan will be a major issue for the future. Foreign visitors to Japan have decreased sharply, which is having a severe impact on restaurants, hotels and outdoor leisure industries. We must consider the recovery of such industries.

Q&A Session

The panelists made the following comments in response to the various interventions made by Moderator Amb. Abdul Hannan during the Q&A session:

(1) The narrative of the 21st Century is that it is the Asian century. How do you feel that countries in this region can contribute towards the development of the entire humanity?

Amb. Benedicto Yujuico: Yes, the 21st century is indeed the Asian century. I also emphasized this idea during my speech delivered during my earlier visit to Taipei. In that speech, I pointed out that by far, the most rapid shift in the world’s economic center of gravity took place in 2000-2010, from the West to the East, reversing the trend of decades of economic development.

Mr. Bryan Clark: Given the current pandemic outbreak, it is more the case that the 21^st Century is the Asian century, especially when super powers in the world gradually lose their strength. In addition, multilateral mechanisms demonstrate their values as well, and countries like Australia and Singapore have worked on that direction for years.

Mr. Chikara Shimizu: There is no clear definition, and it may be sometimes argued with pros and cons, but there is the term “Asian values”－ for example, Western values are referred as “individual” and “freedom,” Asian values are referred as “attributing to the entirety” and “coexistence.” I think we can contribute to the development of humanity by overlaying these values on business ethics. As digitalization advances, one of the things that makes me worried about is the so-called netiquette－ etiquette of the people who use the internet. I hope the idea of entirety and co-existence will improve Internet society, placing greater value on morals and humanity.

(2) What role can industry bodies like CACCI play in facilitating greater partnerships, business and people to people during or post the pandemic?

Mr. Jemal Inaishvili: CACCI is a unique platform in terms of promoting international business and trade opportunities. To maintain its advantage, CACCI should properly adapt to the new situation of the post-pandemic era and facilitate more online activities or training programs for its members.

Mr. Çağrı Gürgür: At a time like this, CACCI can play a more active role as more international cooperation mechanisms are needed than ever before and more industries need financial support. In addition, CACCI can pay attention to timely issues like climate change as well. To cope with the changing world, we all need guidelines which is exactly why the Turkish government has put in place measures to lead the businesses. Through the platform of CACCI, more global cooperation and experience-sharing can be done properly.

(3) Partnership is crucial in helping Asia Pacific’s SMEs navigate COVID-19. Could you share your thoughts on creating meaningful business partnerships in the region to help our SMEs?

Mr. Chikara Shimizu: I think sharing success stories will be beneficial to MSMEs. As an example, the International Chamber of Commerce (ICC) is operating “The Corporate Startup Stars Awards” in collaboration with the European Commission and other entities. The Award selects large companies with which start-ups can work together. There is also a category called “ASIA Corporate Startup Stars,” which is given to the company with the highest valuation in Asia, so it may be some reference or hint for us.

(4) Supply chains have been upended. Please advise us how to make them resilient.

Mr. Jemal Inaishvili: Logistics is part of the supply chain and it plays an important role in international trade. Its recovery depends much on how soon the economy will pick up. From my experience, in the logistics business, nothing much can be done at the moment as the development of the business is subject to the market situation. We are now trying to survive the pandemic and waiting for it to be over. The worst, and probably inevitable, scenario is that some companies may have to be closed due to Covid-19.

Mr. Bryan Clark: It is important to take advantage of developments and embrace the change. All countries should keep upholding the idea of free trade and seeking more cooperation with their neighbours.

Mr. De Silva: As the travel limit may be lifted following effective containment of Covid-19, people would start to look at opportunities in international trade in an effort to recover from the crisis. While we try to promote multilateral trade, we can start with providing some products to our neighbours as the starting point.

Currently, it is disappointing to note a global trend towards inward looking economic policies. It is understandable to some extent in the short term due to the limitations experienced during the crisis period as most countries wanted to ensure their ability to self-sustain the supply of food and other essential goods. However, as we emerge out of the crisis into a recovery phase, we need to again start promoting international trade.

We as Chambers must also do our best to promote trade and even if we can’t do things like trade fairs and exchanging trade delegations as we did in the pre-Covid era, we need to see how such things can be done virtually. It should be possible to conduct virtual trade fairs and create virtual portals for matchmaking. Through such initiatives, we need to promote trade especially among Asian countries. Currently, the trade within Asia accounts for only 23% of global trade and there is so much potential to increase that.

Vote of Thanks

FICCI Secretary General Mr. Dilip Chenoy thanked all his fellow panelists from across the Asia Pacific countries for sharing their deep insights on impact of COVID on their economies and giving suggestions for industry.

He expressed his hopes that everyone who participated in the virtual conference gained a good perspective on the issues and have given them good food for thought going forward.

Mr. Chenoy concluded the session by saying: “I know these are very difficult times of each one of us across the globe, but we need to stay strong and sail through these tough and unprecedented times. I am sure the cooperation between our Asia Pacific economies can set an example of partnership for businesses for others to follow.