CACCI SME Council Chair Participates in ICC Trade Now webinar

ICC held a webinar on November 30 entitled Trade Finance in Asia: Harnessing Digital Solutions to help Asian SMEs Trade Now, which will leverage the insights of expert panelists in order to assess the challenges and opportunities linked to trade finance in Asia and to start shaping a collective response that can foster both intra-Asian and inter-regional trade.

In the 2021 Trade Finance Gaps, Growth, and Jobs Survey, the Asia Development Bank estimates that the global trade finance gap has increased to $1.7 trillion during the COVID-19 pandemic in 2020 from $1.5 trillion in 2018. In this context, current trends point towards an increase in the overall value of the trade finance gap in Asia with the global share of the trade finance gap in Asia set to increase as the participation of banks in trade finance activities declines and the approval rates for SMEs steadily decrease. It is critical that the business community, international organizations, and national governments come together to effectively address the growing trade finance gap and help unleash the full potential of businesses in Asia. Ambitious action and sustained collaboration between these stakeholders can bring new tools and opportunities to SMEs, as they continue to struggle to secure much needed trade finance products and services.

ICC is looking to spearhead this effort with ICC Trade Now, a global campaign that aims to connect SMEs to innovative trade finance solutions through tailored partnerships with cutting edge solution providers. With this campaign, ICC will help scale up and leverage game-changing services that can support SMEs in Asia and globally. This webinar will provide a forum for all relevant stakeholders to assess the challenges and opportunities linked to trade finance in Asia and to start shaping a collective response that can foster both intra-Asian and inter-regional trade.

The webinar started off with introductory remarks delivered by ICC Secretary General John Denton. This was followed by a panel discussion on Addressing the trade finance gap in Asia: challenges and opportunities for SMEs, moderated by Shinta Widjaia Kamdani, ICC Regional Coordinator for Asia-Pacific, CEO of Sintesa Group and Vice Chairwoman of the Indonesian Chamber of Commerce and Industry. The speakers included:

• Steven Beck, Head of Trade and Supply Chain Finance, ADB
• George Abraham, Chairman, CACCI SME Development Council Chairman and Managing Director, The GA Group Pta. Ltd.
• Rohit Mehrotra, Managing Director, NMK Textile Mills India Pvt Ltd
• Yvonne Badam First Vice President, Head of Trade Product Management Division, RCBC
• Yann Duval, chief of Trade Policy and Facilitation, UNESCAP

Afterward, the session moved on to ICC Trade Now, starting with an introduction by Charly Gordon, ICC Global Development Director, followed by partner presentations that included:

• Iain MacLennan, ICC TRADECOMM Project Manager, Finastra
• Frank Wendt, Co-Founder & Executive Chairman, FQX
• John Collis, Co-Founder, TradeFlow Capital Management
• Lincoln Yin, Founder & CEO, RootAnt
• Lodha Vikram, Co-founder & CEO, 360tf

CACCI Tourism newsletter available

Taipei – CACCI is pleased to inform all members that the 25th Volume of CACCI Tourism Newsletter is available for download HERE.

We hope that this publication will serve as an effective platform for an exchange of information among the tourism sector in the CACCI region.  Members are, therefore, encouraged to contribute articles for our future issues.  Kindly forward your materials (preferably with accompanying photos) to wendy.yang@cacci.org.tw

Thank you, and with best regards.

Sincerely yours,

Ernest Lin
Director-General
CACCI

CACCI Profile – December edition available

It is our ardent hope that this monthly publication is useful to you and your work, and enables you to know more about the CACCI, our members, and their activities. If you wish other members of your organization to receive a copy of the CACCI Profile, please send us their names, titles/positions, and email addresses through cacci@cacci.biz

We would also appreciate receiving your comments on how we can further improve the CACCI Profile in terms of its format and contents. Thank you for your kind attention, and we look forward to your continued support of the CACCI and its activities.

XVII CACCI Health & Education newsletter available

We hope that this publication will serve as an effective platform for an exchange of information among the sector of health and education in the CACCI region.  Members are, therefore, encouraged to contribute articles for our future issues.  Kindly forward your materials (preferably with accompanying photos) to wendy.yang@cacci.org.tw

CACCI 2021 Year-End Review

CACCI is pleased to publish the CACCI 2021 Year-End Review summarizing the Confederation’s activities over the past year.

On behalf of CACCI, we would like to take this opportunity to thank members, partners and friends for the cooperation and assistance extended in undertaking CACCI’s projects and programs in 2021. Without this help, CACCI would not have accomplished as much as it did amidst the continued challenges and difficulties that we all faced during the past year .

CACCI looks forward to the continued support of the CACCI and its activities, and we certainly hope to see our members, partners and friends under improved circumstances in 2022.

Press HERE to download the Review (PDF format.)

Sincerely yours,

Ernest Lin
Director-General
Confederation of Asia-Pacific Chambers of Commerce and Industry

CACCI Journal of Commerce and Industry is now available

CACCI is pleased to announce the Second Semester 2021 issue of the CACCI Journal of Commerce and Industry is available HERE.

It is our ardent hope that this publication will continue to serve as an effective platform for an exchange and sharing of information and ideas among CACCI members on issues impacting on the region’s commerce and industry.

We would also like to take this opportunity to invite all members to contribute articles for the next issues of the Journal. Kindly send your materials to the CACCI Secretariat through our e-mail address at cacci@cacci.biz.

CACCI Joins ICC Webinar on Trade Finance in Asia

The International Chamber of Commerce (ICC) successfully hosted a webinar entitled “ICC Trade Now Event – Trade Finance in Asia: Harnessing Digital Solutions to Empower Asian SMEs to Trade Now” on November 30, 2031.

Organized with the support of the Confederation of Asia-Pacific Chambers of Commerce & Industry (CACCI), the two-hour online session aimed to provide a forum for all relevant stakeholders to assess the challenges and opportunities linked to trade finance in Asia and to start shaping a collective response that can foster both intra-Asian and inter-regional trade. It was put together by the ICC in the context of ICC Trade Now, ICC’s dedicated global campaign to connect micro, small and medium-sized enterprises to innovative trade finance solutions.

CACCI nominated two speakers for the panel discussion on “Addressing the trade finance gap in Asia: challenges and opportunities for SMEs,” namely, Mr. George Abraham, Chairman of the CACCI SME Development Council from Singapore, and Ms. Yvonne Bada, Trade Product Management, Global Transaction Banking Group, Rizal Commercial Banking Corp. from the Philippines, member of the Asian Bankers Association, one of the Product and Service Councils of CACCI. Mr. Abraham and Ms. Bada shared their perspectives and experiences on the webinar topic.

The other speakers on this topic included Mr. Steven Beck, Head of Trade and Supply Chain Finance, Asian Development Bank; Mr. Rohit Mehrotra, Managing Director, NMK Textile Mills India Pvt. Ltd.; and Mr. Yan Duval, Chief of Policy Trade and Facilitation, UNESCAP.

36th CACCI Conference to be held on November 28-20, 2022 in Melbourne

CACCI is pleased to inform members that the 36th CACCI Conference will be held in Melbourne, Australia on 28-30 November 2022, thanks to the arrangements made by CACCI Vice President Mr. Peter McMullin.

CACCI will send out relevant information (e.g., exact dates, Conference venue, etc.) as soon as these are available. In the meantime, members are requested to already mark the 2022 calendar of events for the annual gathering next year.

Melbourne is the capital of the Australian state of Victoria, which is located in the southeastern part of Australia. Sitting on the banks of the Yarra River and around the shores of Port Phillip Bay, the city has a population of over 5 million.

Melbourne and the State of Victoria host some of Australia’s most prestigious events throughout the year, such as the Spring Racing Carnival culminating in the Melbourne Cup in November, the Australian Open Tennis in January, and the Melbourne Food & Wine Festival, among others.

Here is the video about Melbourne, to give members an idea on what the city has to offer and what awaits ahead during CACCI’s annual Conference next year.

https://www.youtube.com/watch?v=xcBPVFxgaUw

CACCI Profile – November edition available

It is our ardent hope that this monthly publication is useful to you and your work, and enables you to know more about the CACCI, our members, and their activities. If you wish other members of your organization to receive a copy of the CACCI Profile, please send us their names, titles/positions, and email addresses through cacci@cacci.biz

We would also appreciate receiving your comments on how we can further improve the CACCI Profile in terms of its format and contents. Thank you for your kind attention, and we look forward to your continued support of the CACCI and its activities.

CACCI Director-General hosts lunch for Philippine trade representative in Taiwan

CACCI Director-General and CTBC International Affairs Department Assistant Vice President Mr. Ernest Lin center) on November 23 hosted lunch for Mr. Anthony V. Rivera, newly appointed Director for Commercial Affairs, Philippine Trade and Investment Center Taipei (PTIC Taipei) (4th from left).

Also attending the lunch were other officers and staff of the PTIC Taipei, the CACCI Secretariat, and CTBC Financial Holding Co. Ltd.

CACCI Director-General hosts lunch for Indonesia trade representatives in Taiwan

A lunch was hosted on November 16, 2021 by CACCI Director-General and CTBC International Affairs Department Assistant Vice President Mr. Ernest Lin (left, left photo) for Indonesian Trade Representatives in Taiwan led by Director of Trade Department Mr, Sulistyono of the Indonesian Economic and Trade Office to Taipei (right, left photo).

They were joined by Director of Investment Department Mr. Ali Fauzi (5th from left, right photo) and Director of Indonesian Citizens Protection and Social Cultural department Mr. Fajar Nuradi (3rd from left, below photo) and other officers of CACCI, CIECA and CTBC Commercial Bank.

“Making the WTO More Adaptable to the Economic and Trade Realities of Today” WTO Deputy Director-General Angela Paolini Ellard

Full Remarks of WTO Deputy Director-General Angela Paolini Ellard at the 35^th CACCI Conference

Good afternoon from Geneva,

It is a great pleasure to speak to the Confederation and its members today — thank you for the invitation.

First of all, I would like to congratulate the Confederation on its 35th Annual Conference and its leadership over the past 55 years. You have made an important contribution into increasing business interaction and enhancing economic growth in the Asia-Pacific Region. Thank you also for the Policy Statement and the accompanying Report that you have transmitted to my colleague, Deputy Director-General Gonzalez.

I met with the Confederation and its members in my previous role on Capitol Hill in the U.S., and I look forward to continuing collaboration in my new capacity at the WTO.

Today, I am going to speak about how the WTO can help address the consequences of the COVID-19 pandemic, as well as how to address some of the challenges that the Organization faces today.

Let me start with the COVID-19 pandemic, which brought the global economy to a standstill for a significant period. When the pandemic struck, production and consumption across the world scaled back, and international trade appeared to be on its way to a persistent decline. However, in the summer of 2020, global merchandise trade began to recover, and by the end of the year, it was strongly rebounding in many countries and sectors, but not all.

In the first half of 2021, global trade continued to grow, as value chains recovered and demand in advanced economies increased. According to the latest WTO forecast, the volume of global merchandise trade is predicted to grow by 10.8 percent in 2021, followed by a 4.7 percent rise in 2022.

WTO rules have slowed, and even prevented, countries from taking very damaging measures. And our Trade Facilitation Agreement, although not designed with the pandemic in mind, has played an outsized role in worldwide

recovery. Countries that have embraced and rapidly implemented trade facilitating measures and infrastructure have generally proven more resilient, more adaptable, and better equipped to keep trade flowing despite COVID-19-related lockdowns, travel restrictions, and social distancing.

However, many developing countries are not experiencing the same economic growth pattern, and this trend is deeply concerning because the economic recovery rate is predicted to be faster for countries with higher vaccination rates. For many developing countries where vaccination rates are low – on average 3 percent – the path to recovery will be long and uncertain unless urgent measures are taken.

So, first and foremost, we need to make sure that people in developing countries have broad and unfettered access to vaccines, therapeutics, and other essential products and technologies needed to combat the pandemic. This is not just a moral imperative, but also a strategic and economic one. And, as you note in your Policy Statement, “free trade is the only solution” to this problem.

In fact, contributing to the global effort to combat the pandemic, in particular ensuring equitable access to vaccines, has been one of the top priorities of the WTO administration and membership. Our work has been focused on two dimensions: supply chains and intellectual property waiver negotiations.

As regards supply chains, we all know that producing vaccines is an extremely complicated process, involving facilities in many different countries. And this implies a lot of cross-border shipments of vaccine ingredients. Think about vaccines as a puzzle that comes together only when you have all the right pieces, but those pieces are strewn all over the world.

Trade enables the cross-border transfer of technology and development of supply chains for COVID-19 vaccine manufacturing. Trade helps manufacturers of vaccines and other products necessary to combat the pandemic to source highly specialized inputs that are not produced at home.

The WTO has played an important role in keeping the supply chains open and scaling up vaccine production. In this regard, I would like to highlight our work in preparing a list of trade-related bottlenecks and trade-facilitating measures on critical products to combat COVID-19. The WTO has also prepared an indicative list of critical COVID-19 vaccine inputs and a report on COVID-19 vaccines production and tariffs on vaccine inputs. This work is intended to help policymakers see the blockages and opportunities.

All of this may sound simple and straightforward, but it is not. Governments need know what exactly goes into a vaccine, and what are the products necessary to distribute and administer it, to make the necessary policy decisions to remove tariff and regulatory restrictions on imports of such goods. And while the average tariff on vaccines is merely 0.76 percent, average tariffs on vaccine ingredients, such as preservatives and adjuvants, are anywhere from 3 to 16 times higher.

Pandemic response, insofar as it concerns export restrictions, trade facilitation, and regulatory coherence, is on the agenda of our 12th Ministerial Conference, which is less than a month away. And we are also striving to develop a framework for addressing future pandemics. Ambassador Walker of New Zealand is working with Members to forge a ministerial outcome in this area.

The second stream of our pandemic-related work negotiations is focused on the proposal by India and South Africa to waive obligations under the WTO TRIPs agreement with respect to intellectual property. While those discussions are not as far along, it is essential to see a balanced and effective outcome.

Our experience with the pandemic has once again confirmed that trade has been and remains a powerful engine for economic growth. But we can’t take the ability to trade for granted. Exporting to foreign markets requires effort, and business needs to have confidence that the operational framework of trade is predictable, transparent, and relatively consistent. This is where the WTO, as the guardian of multilateral trade rules, comes into play.

But there is no way around the fact that the last few years have been difficult for the WTO and for trade’s reputation in general. The key element permeating discussions in the WTO these days is that we all acknowledge that the Organization needs reform. This was the Director-General’s message when she ran for the office, and we hear it from countless WTO Members, academics, and business representatives.

So, how can we make the WTO stronger? In my view, the best way to repair the Organization is to achieve results in key areas of our work. The upcoming 12^th Ministerial Conference is an important milestone that offers a great opportunity for us to achieve concrete outcomes.

In addition to the pandemic work that I have just described, our top priority is to conclude the fisheries negotiations, which have been ongoing for 20 years. In those two decades, we have witnessed a sharp and alarming decrease in global fish stocks, which particularly threatens vulnerable artisanal fishers and damages ocean ecosystems.

Delegations are showing increasing engagement, and many are now signaling new flexibilities. We need to capitalize on all elements of convergence that are emerging as time is short. At this stage, we need political decisions to get to a balanced and robust outcome. This is important for the livelihood of millions of fisherwomen and men from coastal communities, and for the oceans and the fish. And it’s important to the credibility of the WTO as well, so even if you are not focused on this negotiation, you should care very much about the outcome.

The COVID-19 pandemic has brought about unprecedented growth in the digital and e-commerce sectors, which proved to be a lifeline for many businesses. It is estimated that the share of e-commerce in retail sales has risen from 16 percent in 2019 to 19 percent in 2020.

The WTO can create a harmonized policy-based framework for e-commerce to develop in an inclusive manner. At the same time, while acknowledging these benefits, many Members have also raised concerns regarding their ability to harness that potential given the digital divide. Some prevailing challenges in infrastructure, finance, resources, and governance still hinder broader e-commerce uptake. These concerns need to be addressed if e-commerce is to continue to play a supporting role in the global economic recovery. WTO Members have deepened their engagement on e-commerce issues — both under the multilaterally-agreed Work Programme on e-commerce as well as under the Joint Statement Initiative plurilateral discussions among 86 Members co-convened by three Asia-Pacific countries.

Sixty-five of our Members have completed negotiations for a Joint Statement Initiative on domestic regulation, aimed at ensuring that existing market access and national treatment commitments are not nullified by opaque and complex authorization procedures. The draft text contains a novel provision on non-discrimination between men and women in the context of authorization procedures for service suppliers. This will be the first provision of its kind in a WTO negotiated outcome.

As we know, there are many MSMEs in the services sector, and they will be the major beneficiaries of the new rules on domestic regulation and e-commerce. Another area where we see progress is environment and climate change. Of course, the WTO is not the place to establish global climate policy and how goals will be reached. But the WTO plays an important role because its rules govern measures and instruments that are relevant for implementing climate policies, such as tariffs, subsidies, and even regulation.

To transition to a low-carbon economy, countries need affordable access to advanced technologies. And open trade plays a critical role in providing such access. For example, the WTO can bring down tariffs on goods needed to get to net zero, such as solar panels and wind turbines, through an Environmental Goods Agreement.

The international community is now converging on the urgent challenges of climate and sustainability. Therefore, at MC12, we need a clear political signal from trade ministers that they recognize the importance of addressing these challenges, in particular through trade.

In addition, we need to update our rules on agriculture, an important and challenging issue for many Members. While negotiations are proving difficult, many Members believe that MC12 must have an outcome on agriculture. Members have been working on draft ministerial text circulated by the Chair of the negotiations. But gaps persist on the key issues of domestic support and public stockholding, which will set the level of ambition for the overall agriculture outcome. But if they are out of reach, we should still aim for outcomes on food security and transparency, and set a clear path for addressing other issues such as the special safeguard mechanism, cotton, export competition, and market access.

Finally, both old and new rules are toothless if there is no effective and efficient way to enforce them. We need to reform and revitalize the dispute settlement function to make sure that Members can seek redress and that there are effective remedies to violations of WTO rules.

The importance of a successful MC12 can hardly be overstated. It’s necessary to show that the WTO is back on track, fit for addressing the challenges of the 21^st century, and can deliver for Members and people relying on trade to drive a strong economic recovery. To get there, we need a strong commitment and political will from all WTO Members, and the business community, to get tangible results.

At the same time, we have to be realistic because some issues may be more difficult and won’t conclude at MC12. For such issues, MC12 may focus on working toward a future outcome, with work programs to be developed in some areas.

It is also important to work to restore trust between Members, which has been shaken over the years. This is particularly visible in the relationships between developed and developing country Members of the WTO. Some developing countries feel that they are precluded from taking full advantage from the benefits and flexibilities provided to them as developing countries. By contrast, some developed countries have expressed concerns that certain countries with a high level of development unfairly benefit from being self-designated as developing.

MC12 is a good opportunity for Members listen to each other and increase the level of trust, through specific outcomes and by setting the table for next year.

I’d like to conclude with a plea. If you value the WTO, then it is important to make the case that it is relevant and that it is worth improving and modernizing. We can’t take for granted that everyone believes in the value of trade and establishing a rules-based system governing trade.

We very much appreciate your views on what reforms are needed, as expressed in your Policy Statement. The Confederation and its members are well-placed to make outreach directly with decision-makers in the region, as well as with the public at large. We have to demonstrate where the WTO has been successful, be honest about where it has not, and be ambitious as to how we can make it better. Businesses must be a voice for good, on matters that are in their immediate interest, as well as broader issues like climate change, fisheries, and access to vaccines.

We count on you.

Many thanks for your attention. I look forward to your questions and comments, and I look forward to working with you in the years to come.

35th CACCI Conference’s video recording and presentations’ files are ready

The Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI) would like to once again thank all its members and friends for registering in the recently concluded 35th CACCI Conference held virtually on November 2, 2021.

We hope that your participation provided you not only to learn from the various speakers’ presentations on issues surrounding the Conference theme of “Sustainable and Resilient Growth Through a Robust World Trade”, but also to know more about CACCI and its activities.

We are pleased to provide hereunder the links to the video recording of the whole proceedings as well as to the speakers’ presentations, should you wish to go through them again at your convenience.

(1) 35^th CACCI Conference’s video presentation, click HERE.

(2) 35^th CACCI Conference’s speakers, click HERE.

If you have further questions, please do let us know.

Once again, thank you and we look forward to your continued support of CACCI.

Sincerely yours,

Ernest Lin
Director-General
Confederation of Asia-Pacific Chambers of Commerce and Industry
E-mail: cacci@cacci.biz
URL: archive.cacci.biz
Tel: (886 2) 2760 1139

“We need to reform and revitalize the dispute settlement function” WTO Deputy Director General Angela Ellard

During the 35^th CACCI Conference themed “Sustainable and Resilient Growth Through a Robust World Trade” on November 2, 2021, Ms. Angela Paolini Ellard, Deputy Director General of the World Trade Organization, made a presentation on “Making the WTO More Adaptable to the Economic and Trade Realities of Today.”

In her presentation, Ms. Ellard made notable remarks that merit attention from CACCI members as our organization is engaged now in a drive to reform WTO. Ms. Ellard also answered some questions from the audience while Peter McMullin, CACCI Vice President, acted as the conference’s moderator.

Ms. Ellard’s remarks and the video recording of her speech are presented below. Her complete speech can be downloaded HERE.

Good afternoon from Geneva,

It is a great pleasure to speak to the Confederation and its members today — thank you for the invitation.

First of all, I would like to congratulate the Confederation on its 35th Annual Conference and its leadership over the past 55 years. You have made an important contribution into increasing business interaction and enhancing economic growth in the Asia-Pacific Region. Thank you also for the Policy Statement and the accompanying Report that you have transmitted to my colleague, Deputy Director-General Gonzalez.

I met with the Confederation and its members in my previous role on Capitol Hill in the U.S., and I look forward to continuing collaboration in my new capacity at the WTO.

Today, I am going to speak about how the WTO can help address the consequences of the COVID-19 pandemic, as well as how to address some of the challenges that the Organization faces today.

Let me start with the COVID-19 pandemic, which brought the global economy to a standstill for a significant period. When the pandemic struck, production and consumption across the world scaled back, and international trade appeared to be on its way to a persistent decline. However, in the summer of 2020, global merchandise trade began to recover, and by the end of the year, it was strongly rebounding in many countries and sectors, but not all.

In the first half of 2021, global trade continued to grow, as value chains recovered and demand in advanced economies increased. According to the latest WTO forecast, the volume of global merchandise trade is predicted to grow by 10.8 percent in 2021, followed by a 4.7 percent rise in 2022.

WTO rules have slowed, and even prevented, countries from taking very damaging measures. And our Trade Facilitation Agreement, although not designed with the pandemic in mind, has played an outsized role in worldwide recovery. Countries that have embraced and rapidly implemented trade facilitating measures and infrastructure have generally proven more resilient, more adaptable, and better equipped to keep trade flowing despite COVID-19-related lockdowns, travel restrictions, and social distancing.

However, many developing countries are not experiencing the same economic growth pattern, and this trend is deeply concerning because the economic recovery rate is predicted to be faster for countries with higher vaccination rates. For many developing countries where vaccination rates are low – on average 3 percent – the path to recovery will be long and uncertain unless urgent measures are taken.

So, first and foremost, we need to make sure that people in developing countries have broad and unfettered access to vaccines, therapeutics, and other essential products and technologies needed to combat the pandemic. This is not just a moral imperative, but also a strategic and economic one. And, as you note in your Policy Statement, “[f]ree trade is the only solution” to this problem.

In fact, contributing to the global effort to combat the pandemic, in particular ensuring equitable access to vaccines, has been one of the top priorities of the WTO administration and membership. Our work has been focused on two dimensions: supply chains and intellectual property waiver negotiations. As regards supply chains, we all know that producing vaccines is an extremely complicated process, involving facilities in many different countries. And this implies a lot of cross-border shipments of vaccine ingredients. Think about vaccines as a puzzle that comes together only when you have all the right pieces, but those pieces are strewn all over the world.

Trade enables the cross-border transfer of technology and development of supply chains for COVID-19 vaccine manufacturing. Trade helps manufacturers of vaccines and other products necessary to combat the pandemic to source highly specialized inputs that are not produced at home.

The WTO has played an important role in keeping the supply chains open and scaling up vaccine production. In this regard, I would like to highlight our work in preparing a list of trade-related bottlenecks and trade-facilitating measures on critical products to combat COVID-19. The WTO has also prepared an indicative list of critical COVID-19 vaccine inputs and a report on COVID-19 vaccines production and tariffs on vaccine inputs. This work is intended to help policymakers see the blockages and opportunities.

All of this may sound simple and straightforward, but it is not. Governments need know what exactly goes into a vaccine, and what are the products necessary to distribute and administer it, to make the necessary policy decisions to remove tariff and regulatory restrictions on imports of such goods. And while the average tariff on vaccines is merely 0.76 percent, average tariffs on vaccine ingredients, such as preservatives and adjuvants, are anywhere from 3 to 16 times higher.

Pandemic response, insofar as it concerns export restrictions, trade facilitation, and regulatory coherence, is on the agenda of our 12th Ministerial Conference, which is less than a month away. And we are also striving to develop a framework for addressing future pandemics. Ambassador Walker of New Zealand is working with Members to forge a ministerial outcome in this area.

The second stream of our pandemic-related work negotiations is focused on the proposal by India and South Africa to waive obligations under the WTO TRIPs agreement with respect to intellectual property. While those discussions are not as far along, it is essential to see a balanced and effective outcome.

Our experience with the pandemic has once again confirmed that trade has been and remains a powerful engine for economic growth. But we can’t take the ability to trade for granted. Exporting to foreign markets requires effort, and business needs to have confidence that the operational framework of trade is predictable, transparent, and relatively consistent. This is where the WTO, as the guardian of multilateral trade rules, comes into play.

But there is no way around the fact that the last few years have been difficult for the WTO and for trade’s reputation in general. The key element permeating discussions in the WTO these days is that we all acknowledge that the Organization needs reform. This was the Director-General’s message when she ran for the office, and we hear it from countless WTO Members, academics, and business representatives.

So, how can we make the WTO stronger? In my view, the best way to repair the Organization is to achieve results in key areas of our work. The upcoming 12^th Ministerial Conference is an important milestone that offers a great opportunity for us to achieve concrete outcomes.

In addition to the pandemic work that I have just described, our top priority is to conclude the fisheries negotiations, which have been ongoing for 20 years. In those two decades, we have witnessed a sharp and alarming decrease in global fish stocks, which particularly threatens vulnerable artisanal fishers and damages ocean ecosystems.

Delegations are showing increasing engagement, and many are now signaling new flexibilities. We need to capitalize on all elements of convergence that are emerging as time is short. At this stage, we need political decisions to get to a balanced and robust outcome. This is important for the livelihood of millions of fisherwomen and men from coastal communities, and for the oceans and the fish. And it’s important to the credibility of the WTO as well, so even if you are not focused on this negotiation, you should care very much about the outcome.

The COVID-19 pandemic has brought about unprecedented growth in the digital and e-commerce sectors, which proved to be a lifeline for many businesses. It is estimated that the share of e-commerce in retail sales has risen from 16 percent in 2019 to 19 percent in 2020.

The WTO can create a harmonized policy-based framework for e-commerce to develop in an inclusive manner. At the same time, while acknowledging these benefits, many Members have also raised concerns regarding their ability to harness that potential given the digital divide. Some prevailing challenges in infrastructure, finance, resources, and governance still hinder broader e-commerce uptake. These concerns need to be addressed if e-commerce is to continue to play a supporting role in the global economic recovery.

WTO Members have deepened their engagement on e-commerce issues — both under the multilaterally-agreed Work Programme on e-commerce as well as under the Joint Statement Initiative plurilateral discussions among 86 Members co-convened by three Asia-Pacific countries.

Sixty-five of our Members have completed negotiations for a Joint Statement Initiative on domestic regulation, aimed at ensuring that existing market access and national treatment commitments are not nullified by opaque and complex authorization procedures. The draft text contains a novel provision on non-discrimination between men and women in the context of authorization procedures for service suppliers. This will be the first provision of its kind in a WTO negotiated outcome.

As we know, there are many MSMEs in the services sector, and they will be the major beneficiaries of the new rules on domestic regulation and e-commerce. Another area where we see progress is environment and climate change. Of course, the WTO is not the place to establish global climate policy and how goals will be reached. But the WTO plays an important role because its rules govern measures and instruments that are relevant for implementing climate policies, such as tariffs, subsidies, and even regulation.

To transition to a low-carbon economy, countries need affordable access to advanced technologies. And open trade plays a critical role in providing such access. For example, the WTO can bring down tariffs on goods needed to get to net zero, such as solar panels and wind turbines, through an Environmental Goods Agreement.

The international community is now converging on the urgent challenges of climate and sustainability. Therefore, at MC12, we need a clear political signal from trade ministers that they recognize the importance of addressing these challenges, in particular through trade.

In addition, we need to update our rules on agriculture, an important and challenging issue for many Members. While negotiations are proving difficult, many Members believe that MC12 must have an outcome on agriculture. Members have been working on draft ministerial text circulated by the Chair of the negotiations. But gaps persist on the key issues of domestic support and public stockholding, which will set the level of ambition for the overall agriculture outcome. But if they are out of reach, we should still aim for outcomes on food security and transparency; and set a clear path for addressing other issues such as the special safeguard mechanism, cotton, export competition, and market access. Finally, both old and new rules are toothless if there is no effective and efficient

way to enforce them. We need to reform and revitalize the dispute settlement function to make sure that Members can seek redress and that there are effective remedies to violations of WTO rules.

The importance of a successful MC12 can hardly be overstated. It’s necessary to show that the WTO is back on track, fit for addressing the challenges of the 21^st century, and can deliver for Members and people relying on trade to drive a strong economic recovery. To get there, we need a strong commitment and political will from all WTO Members, and the business community, to get tangible results.

At the same time, we have to be realistic because some issues may be more difficult and won’t conclude at MC12. For such issues, MC12 may focus on working toward a future outcome, with work programs to be developed in some areas.

It is also important to work to restore trust between Members, which has been shaken over the years. This is particularly visible in the relationships between developed and developing country Members of the WTO. Some developing countries feel that they are precluded from taking full advantage from the benefits and flexibilities provided to them as developing countries. By contrast, some developed countries have expressed concerns that certain countries with a high level of development unfairly benefit from being self-designated as developing.

MC12 is a good opportunity for Members listen to each other and increase the level of trust, through specific outcomes and by setting the table for next year. I’d like to conclude with a plea. If you value the WTO, then it is important to make the case that it is relevant and that it is worth improving and modernizing. We can’t take for granted that everyone believes in the value of trade and establishing a rules-based system governing trade.

We very much appreciate your views on what reforms are needed, as expressed in your Policy Statement. The Confederation and its members are well-placed to make outreach directly with decision-makers in the region, as well as with the public at large. We have to demonstrate where the WTO has been successful, be honest about where it has not, and be ambitious as to how we can make it better. Businesses must be a voice for good, on matters that are in their immediate interest, as well as broader issues like climate change, fisheries, and access to vaccines.

We count on you.

Many thanks for your attention. I look forward to your questions and comments, and I look forward to working with you in the years to come. 2177 words (18+ minutes)

Term of the incumbent CACCI Officers extended for one year

During the 93rd CACCI Council Meeting held virtually on October 26, 2021, it was decided that the term of the incumbent CACCI officers be extended for one more year until the 36th CACCI Conference, which is scheduled to take place in 2022.

The one-year extension was agreed upon by the Council after taking into account of the fact that the COVID situation has not yet significantly improved.

Hence, the following incumbent officers will continue to serve in their respective positions for an additional year:

President – Samir Modi (India)

Vice Presidents

– Peter McMullin (Australia)

– Sheikh F Fahim (Bangladesh)

– Pedram Soltani (Iran)

– Ernest Yuen (Hong Kong) – replacing Wyler Wong

– Hiroshi Oshima (Japan) – replacing Teruo Asada

– Duuren Tumenjargal Nomun (Mongolia)

– Pradeep Kumar Shrestha (Nepal)

– Henry C. S. Kao (Taiwan)

– Rifat Hisarciklioglu (Turkey)

Honorary Treasurer

– Leslie Wong (Hong Kong) – replacing Ernest Yuen

Budget Commission

– Steve Hsieh (Taiwan) – Chairman

– Obaidur Rahman (Bangladesh)

– Sheikh Sultan Rehman (Pakistan) – replacing Mohammad Iqbal Tabish

CACCI will be relying on the incumbent officers for the successful implementation of CACCI programs and projects over the next year.

WTO Deputy Director-General Ms. Anabel Gonzalez delivered her remarks on the issue of WTO reforms

WTO Deputy Director-General Ms. Anabel Gonzalez delivered her remarks on the issue of WTO reforms during the launching of the CACCI study on “Achieving a Successful World Trading System” held on October 29, 2021.

Ms. Gonzalez said that she welcomes CACCI’s strong call for a successful global trading system, noting that the voice of the business community could not be more important in the trade debate.

In her remarks, Ms. Gonzalez talked about the value of the WTO, especially during a crisis; and the need for the WTO to evolve and improve.

As part of a global system characterized by a rules-based economic cooperation, the WTO in times of crisis has pulled quietly in the background to keep trade protection in check, the markets broadly open, and the governments from engaging in a mutually destructive behavior. Without the WTO, the world would be more fragmented, more uncertain, and more vulnerable to shocks. That would reduce the potential of trade to grow businesses and make them thrive, to pull hundreds of millions of people out of poverty as trade has done over the decades, and to address the twin health and economic crises that the world faces.

On the need for the WTO to evolve and improve, Ms. Gonzalez cited three big transitions that are reshaping global trade in the 21st century: (a) the transition to digital and services economy; (b) the transition to a low carbon and sustainable economy; and (c) the transition to a more inclusive economy. She stressed that the WTO must respond to all three transitions to ensure that it can continue to carry out its core mission to use trade to raise living standards, create jobs, and foster sustainable development. She pointed out that WTO’s response to the digital, low carbon, and inclusiveness transitions calls not just for the negotiation of new global routes, but also for the reform of the WTO’s capacity to implement existing agreement and settle disputes.

A panel discussion followed DDG Gonzales’ remarks. The panel was moderated by Immediate Past President of FBCCI Sheikh Fazle Fahim and featured four experts:

• Professor Syed Ferhat Anwar, Senior Professor, Institute of Business Administration, University of Dhaka
• Martin Wolf, Chief Economic Commentator, Financial Times London
• Professor Sait Akman, Associate Professor and Director of G20 Studies Center, TEPAV
• Aaditya Mattoo, Chief Economist, East Asia Pacific Region, World Bank

In his concluding remarks, CACCI Vice President Mr. Peter McMullin pointed out that, as many of the speaker have alluded to, the world is in transition in so many ways — facing digital transition, looking at a lower carbon economy as well as an inclusive economy — and CACCI is engaged in all these issues. The decision to commission this particular study was an important one for CACCI and it proposed to promote the issues raised not only with member chambers and the nations that CACCI is really involved with, but more broadly across the globe. Mr. McMullin said that the launching webinar was an early step and invited participants to be part of the journey.

CACCI holds launching webinar for study on “Achieving a Successful World Trading System” on 29 October 2021

CACCI – in partnership with the Australian Chamber of Commerce and Industry – held a webinar on the launching of the CACCI study on “Achieving a Successful World Trading System” on October 29, 2021 at 3:00 PM, Taipei Time.

With the WTO system now described as being in “crisis,” CACCI has investigated to fix the problems within the WTO and commissioned Honorary Professor Andrew Stoeckel from the Australian National University to undertake this work.

Dr. Stoeckel identified the problems with the current trade system, namely: (a) decline of multilateralism, rising protection and the failure of the Doha negotiation; (b) three functions of WTO are not working, namely negotiating, monitoring trade policies and dispute settlement; (c) calls for ‘root-and-branch” reform; (d) rot in the system started long ago; and (e) lack of appreciation of causes – hence some solutions not advanced by reform initiatives by G20.

Dr. Stoeckel further elaborated on what has caused the trade system problems, which he said included the following: (a) the rules themselves – too many inconsistencies, contradictions, ambiguities and exemptions, as well as the issue of reciprocity; (b) mission creep – the agenda is too big while the trade rules used to remedy problems they cannot fix, and multilateralism is the strongest when the world is united around a simple clear goal; (c) “new” issues to deal with as things change – digital economy, e-commerce, internet standards and capital flows as driver of trade; and (d) declining hegemony by US and rise of China – the trade war.

As the apex regional business organization representing 150 million SMEs across 25 countries, Dr. Stoeckel said that CACCI is advancing the following 15 remedies to fix these problems:

1. Adopt a common simple purpose for the WTO system;
2. Adopt and apply a set of principles to achieve objective;
3. Establish a domestic transparency institution in each domestic capital to assess national self-interest from trade policies;
4. Stop mission creep;
5. Multilateralise all preferential trade agreements;
6. Only permit subsidies that address market failures and externalities;
7. Assess anti-dumping on both a cost and benefit basis;
8. Reassess differential treatment for developing countries;
9. Assess best arrangement for digital economy rules;
10. Reassess intellectual property;
11. Redesign the dispute settlement system;
12. Allow plurilateral agreements only if they are open to all at a later stage;
13. Do not use climate change for protection purposes;
14. Adequately reflect the views and priorities of businesses and SMEs in trade agendas and the WTO;
15. Address shortcomings in the operation of WTO.

Here is the video presentation of the “Achieving a Successful World Trading System” webinar held on October 29, 2021 at 3:00 PM, Taipei Time.

CACCI on WTO Reforms’ video and presentations

CACCI would like to once again thank all its members and friends for participating and supporting the Webinar on the Launching of the CACCI Study on “Achieving a Successful World Trading System” held on October 29, 2021.

It is our hope that your attendance in this important event provided you the opportunity to learn from the productive exchange of views among the invited speakers and panelists on the current situation in the world trading system, the reforms needed to support world trade in a post-COVID growth phase that will be needed by all, and  particularly on the four core problems in the current trading system that the CACCI study has identified, and the fifteen recommendations it has outlined aimed at making a material difference in the performance of the world trading system.

We provide you hereunder the link to the video recording of the whole proceedings and three of the Presentations in PDF format:

(1) CACCI Study on “Achieving a Successful World Trading System” video recording, click HERE.

(2) Three PDF Presentations, click HERE.

Australian Trade Minister Dan Tehan discusses WTO reforms with CACCI leaders on 26 October 2021

On October 26^th 2021, Australian Minister of Trade, Tourism and Investment The. Hon. Dan Tehan MP, held an online discussion with leaders of the Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI) to argue for the necessity of WTO reforms given the current headwinds that the world trade system is facing.

Hosted by CACCI President Samir Modi, the discussions included the participation of Peter McMullin, CACCI Vice President; Dr. Andrew Stoeckel from the Australian National University; and Bryan Clark from Australian CCI

During his presentation, Minister Tehan touched on several key issues affecting the WTO reform process now underway. He argued that “we’re going to need a lot of momentum, a lot of leadership, and a lot of impetus if we are to get the outcomes that we want.”

Minister Tehan encouraged all the business leaders from the region and beyond to have a dialogue with their trade ministers on the recommendations put forward by the CACCI study on “Achieving a Successful Trading System” before the ministers head offto Geneva for the 12^th WTO Ministerial Conference to be held on November 30 – December 3, 2021 for a discussion on WTO reforms.

Minister Tehan explained that currently there are two stages with respect to WTO reforms. First, the next two to three months will set the negotiation stage. The second stage will determine what the future of the WTO will look like.

Minister Tehan warned that a failure in WTO reforms will result in a step back towards plurilateralism where groups of countries will come together to trade among themselves.

To counter this possible outcome, Minister Tehan insisted on the need to drive an agenda of reform because the WTO is an organization which “on the whole is putting the rules in place which enable us to trade and trade effectively” he said.

Minister Tehan noted that now it is not wise to “see the baby thrown out with the bathwater.” Instead, he is looking forward to reform the existing structures.

Minister Tehan’s presentation was followed by a series of questions issued by several member chambers of CACCI.

This webinar was organized by CACCI, in cooperation with the Australian Chamber of Commerce and Industry (ACCI) as the first of a series of events to promote the CACCI study. The study aims to come up with recommendations on reforms to improve the WTO in order to revitalize world trade as a fundamental mechanism for economic growth and common prosperity.

You can view the whole discussion with Australian Minister of Trade, Tourism and Investment The. Hon. Dan Tehan MP below:

Asia – Pacific businesses call for WTO reform

The Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI), a network of national chambers from 25 economies across Asia and the Western Pacific, launched an evidence-based plan for reforming the World Trade Organisation (WTO) as well as the relationships with the major global intergovernmental institutions, at a global virtual event on October 29 to stimulate discussion in the lead up the next WTO Ministerial Council. (The Launching event can be viewed below or click HERE.)

The foremost network of business groups from the Asia Pacific has launched its recommendations for reform of the WTO to ensure a global rules-based trade system for the coming century.

The current 25 CACCI member countries have a combined population of 2.7 billion, representing some 40% of the world total; a total GDP of US$15 trillion, accounting for about 25% of the world total; and a combined trade of US$8 trillion, representing about 26% of the total global trade value. CACCI represents the collective business interests of over 150 million businesses across geographical Asia, sometimes accounting for at least 97% of economic activity. These businesses employ perhaps one billion people, generating a living for them – many of them family owned and run businesses.

Small and medium business enterprises are the main engines of most economies and there is a dire need for economic recovery to restore jobs and incomes, particularly in low-income economies.

Study author, Dr Andrew Stoeckel said, “There is an imperative for better economic performance sustained into the future to service the large increase in debt around the globe. The WTO (together with its predecessor GATT) has been in situ since the end of the Second World War, regulating trade, global relations and resolving disputes on the movement of goods and services.   However, over the past decade, the global market environment has made trade liberalisation less of a priority among many countries, threatening the sustainability of the WTO.

The bottom line is that the aim of international trade is to lift living standards. The fewer the barriers to commerce – whether technical or government imposed – the more commerce there will be, lifting living standards directly and indirectly through enabling resources for government to provide public goods and pursue sustainable development goals. The current system is not delivering this.

Even the purpose of the WTO is not clear. It needs to provide an open, non-discriminatory, rules-based multilateral system.”

In this regard, CACCI believes the 15 recommendations need to be considered by WTO members in MC12.

Adopting the 15 recommendations would simplify and strengthen the multilateral trading system. It would create more certainty in trade, encouraging investment and enhance commerce across borders. Higher living standards would be the result. That will not be at the expense of other environmental and social goals if the right policies are in place to address those issues.

The focus of this study is on trade, but CACCI notes that this is but one aspect of the need for better global governance. Other pressing aspects of global governance are the pandemic and climate change. The WTO system is not the only institution where the effectiveness of global governance arrangements is called into question. CACCI supports calls for a contemporary ‘Bretton Woods’ type conference to revisit how nation-states should work together in the modern age considering how much has changed since WWII. CACCI would support such a move to examine whether the global institutions we have now, along with the WTO system, are still fit for purpose in the 21^st century.

Launching Event of CACCI Study of Rebuilding the World Trading System

https://youtu.be/k4cGy584Wzs

Quotes attributable to CACCI’s regional business leaders: 

CACCI President Samir Modi (India) said:  “the world trading system has deteriorated to its current state, and we need to remedy the situation.

“Many countries are more concerned with national security and economic self-interests, leading to a rise in nationalism and protectionism regionally and globally. And, given the growing trend to pursue bilateral economic relationships among many countries, the prevailing circumstances are expected to have further adverse impact on multilateral relationships.

“CACCI, with its initiative to ‘Achieve a Successful World Trading System’, hopes to focus efforts to the right questions and reforms to achieve this important objective.”

CACCI Advisory Board Chair and CACCI President Emeritus Ken Court (Australia) said in a time of rapid communications and decision-making, the resolution of international trade disputes needed to be simplified.

“Most CACCI member nations are medium or small players with much at stake in a global multilateral system – they depend on stable and predictable rules governing international trade and investment.

“The current system is broken and doesn’t look like it can be repaired. Our recommendations are to look at an alternate approach using economics rather than legal mechanisms as a way through the impasse.” Mr Court said.

CACCI Policy Advocacy Working Group Chair and Australian Chamber of Commerce & Industry Trade Director Bryan Clark (Australia) said the WTO’s importance “had been forgotten amidst the pursuit of free trade agreements.

“One of key reasons for establishing the global rules-based trading system was to avoid a repeat of the destructive trade tensions experienced before World War II.

“But rising protectionism, the proliferation of FTAs, trade sanctions and the failure of the dispute settlement body, coupled with rising uncertainty with lower investment spells great trouble for the world.

“We desperately need the WTO members to listen to the calls from business to ensure that the institution is fit for purpose for the modern and evolving world.”

CACCI Advisory Board member Jemal Inaishvili (Georgia) said the promotion of free trade in the region had faced “a lot of challenges in the past”.

“We have seen tensions in trade relations between world and regional leaders, which were not helpful for economic growth.

“Last year we witnessed enormous disruptions caused by the COVID pandemic, the promotion of international free trade even more relevant and the CACCI recommendations will contribute to global recovery from the pandemic, improving health and economic outcomes for all.”

CACCI Vice President Peter McMullin (Australia) said the CACCI trade recommendations are a “vital piece of leadership at this critical stage in our collective history”.

“The world trading system is in disarray and needs a reset. The study has diagnosed the problem and suggests possible and practical solutions.

“As trade is foundational to the economic recovery, I think it is in all our interests to see the recommendations from the study are adopted by the WTO and its members.

CACCI Vice President M. Rifat Hisarciklioglu (Turkey) said greater cooperation at the WTO “can provide greater certainty for international trade and assist with global economic recover. At this time there is nothing more important.”

“Trade is the engine of economic growth and catalyser of peace, prosperity and security. The world economy needs less unilateralism and more multilateralism.”

CACCI Vice President Pedram Soltani (Iran) said “Asia, the driving force of the global trade growth in the 21st century, has to be more sensitive to the threats of protectionism. CACCI, as a multi-continent-wide organisation for the private sector, has correctly considered the headwinds of the World Trading System,” Dr Soltani said.

“The future of the world trade cannot continue to be bogged down in decades long negotiations and disputes.”

CACCI Vice President Sheikh Fazle Fahim (Bangladesh) said developing economies needed sustainable, equitable rules to achieve development goals and grow new industries with ease of market access.

“Developing economies find it difficult to expand their own emerging industries, as multinational companies have competitive advantage in the current global business environment. So, it is imperative promising economies are able to establish and maintain interconnectivity and collaboration among potential trade partners.

“The CACCI study explores all these challenges, gaps, and inconsistencies and finds an inclusive solution for world trade to become an effective system again that leaves no one behind.”

Further information: Jack Quail | Senior Media Adviser – ACCI – +61 431 299 518

(c) Australian Chamber of Commerce and Industry 2021
Level 3, 24 Brisbane Avenue
BARTON ACT 2600
P | 02 6270 8000
E | info@australianchamber.com.au
W | www.australianchamber.com.au

To download the Summary of CACCI Policy Statement, click HERE.

To view the Summary of CACCI Policy Statement online, click HERE.

To download the Complete CACCI Policy Statement, click HERE.

To view the Complete CACCI Policy Statement online, click HERE.

2021 Virtual – Rebuilding the World Trading System

Reform Starts at Home

To download the Summary of CACCI Policy Statement, click HERE.

To view the Summary of CACCI Policy Statement online, click HERE.

To download the Complete CACCI Policy Statement, click HERE.

To view the Complete CACCI Policy Statement online, click HERE.

The Inauguration of the CACCI Study on Rebuilding the World Trading System started with a webinar hosted by CACCI President Samir Modi that featured Australian Minister of Trade Honorable Dan Tehan on October 26, 2021.

Webinar on the WTO and WTO Reforms with the Minister of Trade, Tourism and Investment of Australia

CACCI is pleased to invite its members and colleagues to participate in the webinar on the World Trade Organization (WTO) and on the WTO reform efforts to be organized by the Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI), in cooperation with the Australian Chamber of Commerce and Industry on October 26, 2021 at 5:00 PM AEDT.

The one-hour session will feature The Hon. Dan Tehan MP, Minister for Trade, Tourism and Investment of Australia, who will elaborate on the views and position of his Ministry on the current operation of the WTO and what reforms are necessary and how to achieve them. Attached herewith is the biography of Minister Tehan for your perusal.

The Tentative Program will be as follows:

5:00PM – 5:05PM     Opening Remarks by Mr. Samir Modi, President, CACCI

5:05PM – 5:30PM     Presentation by The Hon Dan Tehan MP, Minister for Trade Tourism and Investment, Australia

5:30PM – 5:55PM     Q & A Session

5:55PM – 6:00PM     Closing Remarks by Mr. Peter McMullin, Vice President, CACCI

The October 26 webinar is the first of a series of webinars that CACCI is organizing to provide our members the opportunity to understand and have a clear idea of what trade officials in CACCI member countries think of what the WTO should achieve and how to go about it.

To join the conference, please register HERE.

We encourage you to share the invitation with your respective members and constituencies, as well as to your other networks, who I am sure will stand to gain from the discussions.

ICC session on CACCI Study on Achieving a Successful World Trading System

CACCI Study on “Achieving a Successful World Trading System” discussed at the ICC ITPW 2021 – This year’s ICC International Trade and Prosperity Week (ICC ITPW 2021), which was organized virtually by the ICC United Kingdom on October 18-22, 2021, included a session on the CACCI study on “Achieving a Successful World Trading System”.

Held on October 22 at 09:00 AM, London time, the special session was conducted in a fireside chat format and featured CACCI President Mr. Samir Modi; Dr. Andrew Stoeckel from the Australian National University who was commissioned by CACCI to undertake the study; and Ms. Sara Gillespie from ICC Australia.

“Rebuilding the World Trading System” A Policy Statement by CACCI

To download the Summary of CACCI Policy Statement, click HERE.

To view Summary of CACCI Policy Statement online, click HERE.

To download Complete CACCI Policy Statement, click HERE.

To view Full Complete Policy Statement online, click HERE.

Invitation to the Launching of CACCI Recommendations to Improve World Trading System on 29th October 2021 (15:00 Taiwan Time ) – Register Now

Register HERE

To download the Invitation in PDF format, click HERE.

Register HERE

To download the Summary of CACCI Policy Statement, click HERE.

To view the Summary of CACCI Policy Statement online, click HERE.

To download the Complete CACCI Policy Statement, click HERE.

To view the Complete CACCI Policy Statement online, click HERE.

CACCI Profile – October edition available

It is our ardent hope that this monthly publication is useful to you and your work, and enables you to know more about the CACCI, our members, and their activities. If you wish other members of your organization to receive a copy of the CACCI Profile, please send us their names, titles/positions, and email addresses through cacci@cacci.biz

We would also appreciate receiving your comments on how we can further improve the CACCI Profile in terms of its format and contents. Thank you for your kind attention, and we look forward to your continued support of the CACCI and its activities.

CACCI holds virtual workshop on “Incoterms® 2020 – Newly Revised ICC Rules for international trade terms” on 6 October 2021

CACCI organized a one-day virtual workshop on October 6, 2021 on Incoterms 2020, the ICC flagship rulebook which defines the obligations and responsibilities of contract parties in relation to delivery of goods.

ICC Registered Trainer and well-known international trade finance expert Mr. Pavel Andrle, conducted the full-day webinar. A total of 67 registered participants plus other interested persons from Mongolia, Iran, Vietnam and Philippines closely followed the presentation, which focused on the role of Incoterms in sale and other relevant contracts, new changes to Incoterms 2020 from the previous Incoterms 2010, and the practical aspects of using each of the 11 trade (delivery) terms of Incoterms 2020.

Mr. Andrle explained the risks related to each delivery term in depth, both from the seller´s and buyer´s perspective. Many participants were from banks, trade finance and customer service departments.

The Participants appreciated the practical advice given by Mr. Andrle, who is a trade finance practitioner himself, regarding the documents to evidence the seller´s fulfilment of its contractual obligations, related to the delivery of goods. Such knowledge is necessary to properly link the delivery terms to the payment terms, especially when the documentary credit or documentary collection is chosen by the contract parties as the payment method.

Through this webinar, the participants – mainly exporters, importers, traders, specialists in logistics, cargo insurance, bankers and many other interested business people – learned how to keep themselves and their customers safe by being informed on solutions to specific needs, and therefore being protected against technical risks and ambiguities which frequently arise when using Incoterms in daily practice.

ASEAN Economies: The Road to Recovery

3 September 2021, 3:00 p.m., Singapore time, GMT+8

At the start of the coronavirus disease (COVID-19) pandemic, the ASEAN region responded relatively well to the crisis compared with other parts of the world, with travel restrictions and country-wide lockdowns keeping the spread at bay.

In April, the Asian Development Bank (ADB) forecast Southeast Asia’s gross domestic product to grow at 4.4% in 2021, which would take the region back to pre-COVID-19 levels.

However, in recent months many countries are facing a second and stronger onslaught of the pandemic, and are being forced to return to tighter controls while trying to roll out the vaccine as soon as possible to get the situation under control.

What will this mean for the projected growth of ASEAN countries, and how will their economies recover as we head to 2022?

Join our complimentary webinar where leading economists from the region will share their outlook for ASEAN, leveraging insights and data points from the new macroeconomic datasets that are now available in Refinitiv Datastream.

The webinar will discuss:

• Forecasting ASEAN’s growth—the outlook for 2021 and beyond
• The road to recovery—areas of opportunity, reforms, and investments
• The role of green and social finance for the region
• A look at the ASEAN economic data expansion for Refinitiv Datastream

Speakers:

Deborah Elms, Founder and Executive Director, Asian Trade Centre

Riza Tyas, Head, Macroeconomic Group, Economic & Monetary Policy Department, Bank Indonesia

James Villafuerte, Senior Economist, Southeast Asia Regional Department, Asian Development Bank

Wendy Yamazaki, Senior Director, Government Relations and Regulatory Strategy, Refinitiv

Ramesh Subramaniam, Director General, Southeast Asia Regional Department, Asian Development Bank

The webinar is co-organized by Refinitiv and SEADS.

CACCI Profile – September edition available

It is our ardent hope that this monthly publication is useful to you and your work, and enables you to know more about the CACCI, our members, and their activities. If you wish other members of your organization to receive a copy of the CACCI Profile, please send us their names, titles/positions, and email addresses through cacci@cacci.biz

We would also appreciate receiving your comments on how we can further improve the CACCI Profile in terms of its format and contents. Thank you for your kind attention, and we look forward to your continued support of the CACCI and its activities.

CACCI participates in meeting between TWC-YEG and PYEA

The CACCI Secretariat joined a meeting between Taiwan’s Third Wednesday Club Young Entrepreneurs Group (TWC-YEG) and the Philippine Young Entrepreneurs Association (PYEA) on August 19. Among those in attendance include, from TWC-YEG: Deputy Chairman Mr. Richard Lin; Conveners of International Affairs Committee Mr. Maick Bradford Su and Mr. Jay Thian; and Mr. Howard Yu. From PYEA, Chairman Emeritus Mr. Rommel Gerodias; PYEA National President Ms. Charmaine Cobankiat Leong; PYEA Manila – President Mr. Sergio Ortiz Luis; Vice President for Internal Affairs Ms. Melissa Varela; Mr. Jairus Ferrer; and Mr. Oliver Lee were in attendance.

Members of the two groups introduced themselves and their respective lines of business, then discussed their experiences running their enterprises during the COVID-19 pandemic. They also talked about possible areas of collaboration in the future between the two organizations.

Webinar on Chambers Connect

CACCI wishes to convey to members and friends the invitation from the International Chambers of Commerce World Chambers Federation (ICC-WCF) to its webinar on the Chambers Connect scheduled on Wednesday 28 July 2021, at 10 AM CEST.

To be held jointly with CACCI, the webinar is exclusively dedicated to CACCI chamber members and is primarily aimed at introducing the features of Chambers Connect, ICC WCF’s online community platform exclusively for chambers of commerce worldwide to and guide your first steps on the platform. This new tool aims to support ICC WCF in its work to unite the global chamber network.

Executives from the CACCI Secretariat will join the webinar to introduce CACCI’s chamber space and share their experience in using Chambers Connect.

For those of you who haven’t gotten the chance to access the platform yet, please fill in by clicking HERE.

If you have further questions in this regard, we suggest you contact the Chambers Connect Team at chambersconnect@iccwbo.org

You may register for the webinar by clicking HERE.

Once you have registered, you shall receive an automatic email containing the details and link to join the webinar.

CACCI Profile – July edition available

It is our ardent hope that this monthly publication is useful to you and your work, and enables you to know more about the CACCI, our members, and their activities. If you wish other members of your organization to receive a copy of the CACCI Profile, please send us their names, titles/positions, and email addresses through cacci@cacci.biz

We would also appreciate receiving your comments on how we can further improve the CACCI Profile in terms of its format and contents. Thank you for your kind attention, and we look forward to your continued support of the CACCI and its activities.

CACCI Women Entrepreneurs Newsletter available now

Taipei – CACCI is pleased to inform members and friends that the 23^rd Volume of Grow, the publication of CACCI Women Entrepreneurs Council is available HERE.

We hope that this publication will serve as an effective platform for an exchange of information among women entrepreneurs in the CACCI region.  Members are, therefore, encouraged to contribute articles for our future issues.  Kindly forward your materials (preferably with accompanying photos) to wendy.yang@cacci.biz

Taiwan TWC-YEG meets Vietnam YEA for exploratory talks

On July 14, 2021, ranking officers of the Taiwanese Third Wednesday Club’s Young Entrepreneurs Group (TWC YEG) met for the first time their counterparts from the Vietnam Young Entrepreneurs Association (VYEA) in a cordial online meeting.

Both national organization had the opportunity to introduce their respective organizations and history, discuss the current status of their respective economies as they continue struggling against the Covid pandemic and plan future activities that could enhance real business opportunities for the benefit of their members.

The TWC YEG’s delegation was led by Mr. Richard Lin, Deputy Chairman, TWC-YEG who launched the online meeting by introducing the Taiwanese delegates, including senior officers of CACCI (Confederation of Asia-Pacific Chambers of Commerce and Industry).

Mr. Richard Lin also presented the history, current leadership and structure of TWC-YEG and explained the industrial composition of the organization. Mr. Lin added that TWC is a respected business organization that represents the leading industrial groups of Taiwan, generating on the aggregate over half of Taiwan’s GDP.

From their part, the Vietnamese delegation was led by Ms. Hue Pham, VYEA Vice Chairwoman, who in turn introduced her delegates at the meeting. During her remarks, Ms. Hue Pham explained that VYEA is the largest business organization in Vietnam, with more than 10,000 members all over their territory.

Ms. Hue Pham added that most of the members maintain certain cooperation with government units to organize conferences or participate in overseas events. VYEA, Ms. Hue Pham said, has an excellent history of operation for 27 years.

Concerning the complications brought upon by the Covid pandemic, Ms. Hue Pham said that traffic is restricted between cities, making business operations very difficult. Consequently, many SMEs are struggling, because lack of emergency capital prevents them from weathering the current stoppage in normal business operations.

During the virtual meeting, Mr. Amador Honrado, CACCI Deputy Director General also had the opportunity to introduce CACCI and its current YEG plans. At the end of his presentation, Mr. Honrado invited VYEA members to join the future YEG activities that CACCI is preparing to launch in coordination with many YEGs affiliated to national chambers of commerce and industry in nations and territories across the Asia Pacific region.

Mr. John Tran, VYEA Vice Deputy of Int’l Affairs Department, was very explicit in his recommendation to build up the incipient relationship between VYEA and TWC YEG. Mr. Tran recommended exploring credible business opportunities in Vietnam and business interests among Taiwanese enterprises to start establishing a durable relationship between the two organizations.

Moreover, Mr. Tran emphasized that there is good will towards Taiwanese companies in the Vietnamese market and that medium and small Taiwanese companies, aside from those invested in the large industrial parks of Vietnam, have opportunities to grow locally. One important key to success in the Vietnamese market is, according to Mr. Tran, to find a good local partner for their venture.

Other Taiwanese business executives discussed their companies’ situation and future plans post-pandemic, as well as expressed interest in the Vietnamese market.

At the end of the discussion, both organizations considered positive their first exploratory meeting and decided to search and collect business objectives currently in the mind of members in order to find counterparts or concrete points of business exploration.

Further meetings are expected.

The video of the meeting can be viewed at the CACCI Youtube channel HERE.

List of participants

Third Wednesday Club’s Young Entrepreneur Group:

1. Mr. Richard Lin, Deputy Chairman, TWC-YEG
2. Mr. Maick Bradford Su, Convener of International Affairs Committee, TWC-YEG
3. Mr. Jay Thian , Convener of International Affairs Committee, TWC-YEG
4. Mr. Howard Yu, Member, TWC-YEG
5. Mr. Vito Ma, Deputy Secretary-General, TWC-YEG
6. Mr. Ernest Lin, Director General, the Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI)
7. Mr. Amador Honrado, Deputy Director General, Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI)
8. Mr. Mig Moreno, Deputy Director General, Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI)
9. Ms. Abby Moreno, Senior Officer, Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI)
10. Mr. Joe Chien, Manager, CTBC Financial Holding
11. Ms. Sandia Lee, Manager, CTBC Financial Holding
12. Mr. Nick Tsai, Manager, CTBC Financial Holding
13. Ms. Ivy Cheng, Assistant Manager, CTBC Financial Holding

Vietnam Young Entrepreneur Association:

14. Ms. Hue Pham, Vice Chairwoman, Vietnam Young Entrepreneurs Association
15. Mr. John Tran, Vice Deputy of Int’l Affairs Department, Vietnam Young Entrepreneurs Association
16. Ms. Sylvia Nguyen, Member of Presidium, Vietnam Young Entrepreneurs Association
17. Ms. Trang, Officers, Vietnam Young Entrepreneurs Association

CACCI Tourism newsletter available

Taipei – CACCI is pleased to inform all members that the 24^th Volume of CACCI Tourism Newsletter is available for download HERE.

We hope that this publication will serve as an effective platform for an exchange of information among the tourism sector in the CACCI region.  Members are, therefore, encouraged to contribute articles for our future issues.  Kindly forward your materials (preferably with accompanying photos) to wendy.yang@cacci.org.tw

Thank you, and with best regards.

Sincerely yours,

Ernest Lin
Director-General
CACCI

CACCI Profile – June edition available

It is our ardent hope that this monthly publication is useful to you and your work, and enables you to know more about the CACCI, our members, and their activities. If you wish other members of your organization to receive a copy of the CACCI Profile, please send us their names, titles/positions, and email addresses through cacci@cacci.biz

We would also appreciate receiving your comments on how we can further improve the CACCI Profile in terms of its format and contents. Thank you for your kind attention, and we look forward to your continued support of the CACCI and its activities.

XVI CACCI Health & Education newsletter available

Taipei – We are pleased to inform you that the sixteenth Volume of CACCI Health & Education Newsletter has been formally issued.

You can download the newsletter HERE.

We hope that this publication will serve as an effective platform for an exchange of information among the sector of health and education in the CACCI region.  Members are, therefore, encouraged to contribute articles for our future issues.  Kindly forward your materials (preferably with accompanying photos) to wendy.yang@cacci.org.tw

Virtual Special Council Meeting on July 27, 2021

CACCI would like to invite All CACCI Officers and CACCI Primary Members to attend a Special CACCI Council Meeting to be held on July 27, 2:00 PM, Taipei Time.

The special meeting is being called to primarily review and comment on the final draft of the CACCI study on “Resurrecting the World Trading System”, and more importantly, to finalize and approve the accompanying CACCI Policy Statement (based on the full study) to be signed by all Council members.

CACCI Secretariat will send copies of the discussion papers and other relevant information (e.g., meeting link, updates, etc.) in due course.

In the meantime, may we request to all officers and Primary members to kindly pencil in the meeting date in your calendar of events for July 2021?

If you have questions at this stage, please write to cacci@cacci.biz

Webinar on SMEs’ adaptation and innovation

Why this webinar is needed?

Small and medium-sized enterprises (SMEs) are the backbone of the Asian economy. They make up more than 96 percent of all Asian businesses, providing two out of three private sector jobs on the continent. Therefore, fully functioning support measures for SMEs are vital for Asia’s economic success.

Since its outbreak, the COVID-19 pandemic has caused border closures and lockdowns in many countries, especially affecting developing economies and vulnerable groups. As the pandemic’s first epicenter, the Asia-Pacific region is suffering from the devastating impact on millions of workers and enterprises, posing a major risk to the achievement of decent work and economic growth (SDG 8). The SDG Progress Report by ESCAP indicated that the region showed regressing trends on SDG target 8.5 of “full employment and decent work” in 2020. In addition, nearly 829 million informal workers were impacted by the pandemic, and unemployment increased by 15 million in the same year.

To build the Asia-Pacific economies back better, adaptation of SMEs with innovative and pragmatic strategies in the post COVID-19 era is a key driver. The proposed webinar aims to provide three layers of strategies: First, from the regional level, what and how policies have been implemented to support SMEs for recovery. Second, from the ODA perspective, best practices that have catalyzed cross-sector resources for SMEs development. Finally, on the business aspect, practical approaches that chambers of commerce and businesses have rapidly adapted throughout the pandemic for corporate sustainability. Based on the lessons and experiences learned, the webinar hopes to build synergy among stakeholders for solutions to build a stronger environment for SMEs in the new normal.

Purpose of the webinar

This side event aims to create a platform to invite all stakeholders from regional, national, and local aspects to share their insights and innovative solutions for the sustainable development and resilience of SMEs. How would they build an enabling environment for SMEs development in the post COVID-19 era? The panel discussion will address cross-sector collaboration and share good practices for the Asia-Pacific region.

Responding to SDG

(1) Goal 8-Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all

(2) Target 8.3-Promote development-oriented policies that support productive activities, decent job creation, entrepreneurship, creativity and innovation, and encourage the formalization and growth of micro-, small- and medium-sized enterprises, including through access to financial services

(3) Format- A 60-minute webinar open for registration (using Cisco Webex platform)

Moderator

George Abraham, Chairman of SME Development Council, Confederation of Asia-Pacific Chambers of Commerce and Industry

Panelists

1. Donald Lambert, Principal Private Sector Development Specialist, Southeast Asia Department, Asian Development Bank (ADB)
2. Alex Shyy, Deputy Secretary General, International Cooperation and Development Fund (TaiwanICDF)
3. Robert Kraybill, Managing Director and Chief Investment Officer, Impact Investment Exchange (IIX)
4. Representative from member chamber of CACCI (TBC)

To register, please click HERE.

“CACCI Business and Investment Summit” on June 4, 2021

CACCI is pleased to invite members and associates to join the “CACCI Business and Investment Summit” to be held on June 4 at 14:00 – 16:00 hrs. Taipei Time on the virtual platform.

To be organized by CACCI and co-hosted by the Chinese International Economic Cooperation Association (CIECA), Taiwan, Chinese National Association of Industry and Commerce, Taiwan (CNAIC) and Importers & Exporters Association of Taipei (IEAT), the Summit is part of a series of special events in 2021 in celebration of the 55^th anniversary of CACCI.

CACCI member chambers in Taiwan, Vietnam and Bangladesh will invite relevant government agencies to share their post-COVID strategies for economic recovery and sustainable growth in their respective countries, as well as invite foreign investors in their respective countries to make testimonials on their experience and operations in the country.  Below we present the tentative program.

More details on the event, such as the registration link and the updated program, will be provided shortly.  We encourage all CACCI members to already mark down the time for the virtual Summit which presents the best occasion to get the first-hand information on business opportunities in Taiwan, Vietnam and Bangladesh.

To register, please click HERE.

The Colonial Pipeline Incident — How Vulnerable Is Critical Infrastructure to Cybercriminals?

On May 7, 2021, Colonial Pipeline, a major U.S. fuel pipeline operator, halted operations as a precautionary measure after a cyberattack involving ransomware was discovered. The attackers appear to have accessed business systems from which they stole nearly 100 gigabytes of data before they locked Colonial Pipeline’s computers and demanded ransom.

Responsible for nearly half of the U.S. East Coast’s fuel supply, Colonial Pipeline supplies fuels from Gulf Coast refining centers to cities, including Washington, D.C., Baltimore and Atlanta, transporting 2.5 million barrels per day of gasoline, diesel and jet fuel through 5,500 miles (8,850 km) of pipelines.

Photo: Jim Watson/AFP via Getty Images

Fuel tanks are seen at the Colonial Pipeline Baltimore Delivery in Baltimore, Maryland, on May 10, 2021. Industry observers regard the Colonial Pipeline cybersecurity incident as financially motivated, as opposed to state-directed sabotage.

The attack represents a major disruption of the U.S. energy sector and is the latest in a string of unsettling cyberattacks by foreign actors that have drawn attention to the need for private companies and government agencies to harden their digital assets.

Source: Colonial Pipeline

The Dark Side

According to an FBI statement, the strain of malware involved appears to be the work of a Russian ransomware gang called “DarkSide.” DarkSide operates under a Ransomware-as-a-Service (RaaS) model, and once a system is compromised, cybercriminals using these services can demand anywhere between $200,000 and $2 million. DarkSide is one of several increasingly professionalized groups of digital extortionists, with a mailing list, a press center and a victim hotline.

Chris Krebs, the former director of Homeland Security’s Cybersecurity and Infrastructure Security Agency, told CBS News the tactics of the Colonial attack are indicative of “veteran” cybercriminals.

DarkSide users display comprehensive capabilities across multiple software systems and platforms, collecting information from a variety of private organizations, including financial institutions, medical facilities, energy firms and tech giants.

These types of hackers aren’t worried about avoiding detection; rather these actors employ tactics that aim to leverage a company’s desire to keep the breach quiet to pressure them into paying up. A popular such tactic is called “double extortion,” a technique in which criminals demand that victims pay to decrypt the stolen data and prevent the hackers from leaking sensitive data. This technique allows hackers to increase both the number of ransoms they receive and the value of those demands.

Industry observers regard the Colonial Pipeline cybersecurity incident as financially motivated, as opposed to state-directed sabotage compared to what was observed in the SolarWinds or Microsoft Exchange hacks earlier this year.

The Energy Sector Is Exposed

The energy industry is still maneuvering the widespread digital transformation of operational and support structure that has gained momentum in recent years. These are exciting developments in operational and information technology for oil and gas applications — many oil and gas companies are prioritizing investments in this area. Two examples of such developments include the internet of things, which facilitates data collection, and Supervisory Control & Data Acquisition systems, which use data to monitor and control facilities located throughout the energy supply chain.

However, these technologies inherently increase an organization’s attack surface, requiring authentication and authorization management between them.

Experts predict that the number of connected devices worldwide will reach a whopping 46 billion by 2021 — all equipped with sensors that communicate back to networks, databases and communications systems. These connected devices span a wide range, from smart toasters to centrifuges enriching uranium. Even a fish-tank thermometer can expose firms to trouble from hackers.

As mentioned in a recent NSA advisory for stopping malicious activity against connected operational technology (OT), it doesn’t help that many of the “OT assets and control systems installed and used throughout the energy sector are past end-of-life and operated without sufficient resources.” Put simply, these systems are dinosaurs. This means updates and vulnerability patches aren’t being developed, stifling IT teams tasked with defending these legacy systems and opening firms up to a considerable amount of risk.

The critical infrastructure that’s the foundation of the end-to-end energy supply chain makes it particularly vulnerable and more attractive to these hacker groups. This is compounded by the fact that energy remains a major concern for the nation-states who are often enabling these bad actors. The energy sector drives so much policy across the world that it affects how countries conduct themselves and interact. Therefore, nation-states are willing to attempt these sophisticated and disruptive campaigns to gain any advantage they can.

Unless cybersecurity measures are embedded in a technology’s development phase, we are likely to see these kinds of disruptive attacks on industrial systems like oil and gas pipelines more frequently. Colonial has said it hopes to “substantially restore operational service by the end of the week,” but that it will be a stepwise process.

It May Take a While to Get Back to Normal

Colonial has managed to restart its pipeline operations but has warned that it will take several days for supply to get back to normal. In the meantime, adjacent avenues are operating to deliver existing inventories to markets along the Colonial pipeline. Aside from the Colonial pipeline, East Coast fuel markets are supplied by the Plantation pipeline jointly owned by Kinder Morgan and Exxon; East Coast refineries; and fuel shipments from Eastern Canada and Europe. There have already been some signs of panic-buying by motorists along the East Coast.

As for other parts of the energy sector, a shutdown on any of the major crude pipelines would have some impact, though in the case of crude it would be more muted to the consumer because it’s further up the supply chain. A disruption to a major natural gas pipeline could have a ripple effect to power generation facilities, depending on the line, duration and time of year.

Based on our experience, the industry is taking the threat very seriously, but these complex business and operational IT systems are ultimately operated by humans, and that will always include some element of risk.

Related themes: CYBERSECURITY INFRASTRUCTURE RISK MITIGATION

Geoff Yut
Consultant at Opportune LLP
Geoff Yut is a consultant in Opportune LLP’s Process & Technology group based in Houston. Geoff graduated from Texas A&M University with a B.S. in Management Information Systems and a minor in Cybersecurity.

The original article can be read at the Brink Asia HERE.

4th Virtual Steering Committee Meeting on May 3 discusses WTO reforms

Chaired by CACCI President Mr. Samir Modi, the fourth virtual meeting of the Steering Committee for the CACCI Study on “Resurrecting the World Trading System” was held on May 3, 2021 starting at 2:00 PM, Taipei time.

A complete list of the attendees is attached as Annex 1.

I. Welcome Remarks by the Committee Chairman

(1) CACCI President and Steering Committee Chairman Mr. Samir Modi once again thanked the participants for joining the May 3 virtual meeting – the fourth since it was established in December 2020.

II. Update and Comments on the Project

(2) Mr. Modi requested Mr. Bryan Clark to provide an update on the project on behalf of Dr. Andrew Stoeckel, who was unable to join the meeting

(3) In his report, Mr. Clark highlighted the following:

(3.a) Mr. Stoeckel had earlier asked the CACCI Secretariat to circulate a paper on the purpose and principles of the WTO system, and to request the Steering Committee members – as well as CACCI Primary Members – to provide their comments on the paper.

(3.b) In the paper, Dr. Stoeckel noted that part of the problem of lack of agreement on the WTO reform is that there is no consensus and resolution on what the WTO should achieve and how to go about it, adding that everyone seems to have his own agenda. He said that it would help the CACCI study and the WTO reform if CACCI had a clear idea on these matters. There is also a need to be mindful of the political environment.

(3.c) Mr. Clark suggested the need to get the Ministries in charge of trade in CACCI member countries to discuss the WTO issue and share what their thinking is in this regard.

(3.d) For this purpose, Mr. Clark proposed that CACCI arrange regular webinars for all CACCI members during which the Trade Ministers (or senior trade officials) from the government of each CACCI member countries will provide their thoughts on the future of global trade and the WTO reform necessary to achieve it.

(3.e)This will also help raise the profile of CACCI across its membership and enable CACCI to gain insights on how the Confederation can gather political force to drive the changes that it wants.

(4) Following Mr. Clark’s update, Ambassador Benedicto Yujuico from the Philippines shared his thoughts on the matter, including the following:

(4.a) There are currently significant “cross-currents” in international trade, such as the Australia-China rift on Australia’s exports to China (e.g., barley, beef, wine, seafood, iron ore, etc.)

(4.b) The situation is further compounded by the ongoing Covid-19 pandemic, which has compelled countries to look inward, raising issues pertaining to food security, vaccine supply security, among others.

(4.c) Under the current global market environment, the issue of trade liberalization seems to be no longer a priority among many countries. Instead, many of them are more concerned with economic self-interests  and national security. They are also increasingly pursuing bilateral economic relationships with other countries, which seems to be driving world trade and is expected to have an impact on multilateral relationships. It may therefore be worthwhile to consider focusing instead on regional trade rather than world trade.

(4.d) Hence, the task in front of CACCI has been made more difficult, trying to encourage world trade in an environment wherein many are taking a more nationalistic stance. It is therefore important to define carefully what the proposed research study wants to achieve and the direction we are going into. For this purpose, there is a need to consult member chambers and seek their comments and inputs on the substance and coverage of the proposed research study.

(5) Mr. Clark agreed with Ambassador Yujuico that troubling time is indeed in front of us and we are faced with a daunting challenge. The major question that CACCI must address is: What if the WTO fails? What does that leave us with? However, past experience and recent developments and difficulties experienced by many countries as a result of the pandemic have demonstrated the need for trade to solve problems that we are currently facing.

(6) Mr. Clark also informed the Committee that a number of regional business associations such as the ICC and the Confederation of Swedish Enterprise (CSE) have expressed interest in the ongoing CACCI study. He said that number of Steering Committee members are scheduled to meet with key representatives of the CSE, which earlier issued – along with other business associations from 14 countries – a joint letter to the WTO Director General calling for increased engagement between the WTO and the business community.

(7) FBCCI President and CACCI Vice President Mr. Sheikh F Fahim expressed for the suggestion of Mr. Clark to “rope in” and involve the trade and economic ministers in CACCI member countries in the current study being undertaken by CACCI on WTO reform. He said that the trade and economic ministers usually have representation in the WTO headquarters in Geneva and they can therefore bring the private sector issues and concerns to the attention of the WTO officials there, adding that they will be the right channel to help CACCI move forward its trade agenda to the attention of the WTO.

(8) Mr. Fahim also informed the Committee of his Chamber’s decision to provide sponsorship of the CACCI study in the amount of US$20,000.

(9) At this point, the Committee members thanked Mr. Fahim and FBCCI for its generous financial contribution to the CACCI study. They also took the opportunity to congratulate Mr. Fahim on his nomination as Vice Chairman of the Indian Ocean Rim Association (IORA) to assume the position in November (IORA is an international organization of 23 states bordering the Indian Ocean which is tripartite in nature, bringing together representatives of Government, Business and Academia, for promoting co-operation and closer interaction among them), and earlier as President of the D-8 Chamber of Commerce and Industries (D8CCI) (an organization for development cooperation among Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan and Turkey). Mr. Fahim said he would the support of CACCI members in assuming the responsibilities of his new positions.

(10) Dr. Pedram Soltani commented that since the Bretton Wood Agreement was signed some 70 years ago, the world environment has changed so much. However, the regional and international trade organizations have not updated themselves to be in step with the current world economic and business conditions.

(10.a) He said that he and Mr. Fahim have had a discussion on Chamber 4.0 and that they both agree on the need not just for the private sector but also for governments (and inter-governmental organizations) to upgrade their infrastructure to accommodate technology as well as to recommend to the WTO to re-design itself to accommodate technology as a means, for instance, to optimize and accelerate its decision-making process.

(10.b) He also underscored the importance for the WTO agenda to take into consideration political, social, economic interests, human rights, trade issues, political interests, and environmental issues, among others. This is to avoid the fragmentation of world, he said.

(10.c) Hr also noted that the private sector does not interact with NGOs in identifying issues that need to be addressed. Both the private business and NGOs should respect each interest groups’ values, and demands when making recommendations on how to improve and upgrade the workings of the WTO.

(11) Mr. Peter McMullin, CACCI Vice President from Australia, said that the points raised earlier by Amb. Yujuico, Mr. Fahim, and Dr. Soltani are all valid and important, and proposed that these be conveyed to Dr. Stoeckel for his consideration and possible incorporation into the CACCI study. He therefore expressed his hopes that the meeting was being recorded, to which the Secretariat answered in the positive.

(12) Mr. McMullin agreed that the trade issues we are currently facing are difficult and complicated, and that there are no simple answers. He pointed out that the CACCI study is not expected to resolve all of the issues; however, it should be able to help and point the direction on how to address some of them and bring us halfway forward to their resolution.

(13) Mr. Bryan Clark reiterated the request for members to provide their inputs and comments on the Memo prepared by Dr. Stoeckel on the purpose and principles behind the WTO. It is important for CACCI to understand and know the viewpoints of members on the issues at hand.

(14) The Committee requested the Secretariat to send another reminder to members on their comments to the Memo, and to ask them to respond by May 14.

III. Date of the Next Committee Meeting

(15) The Committee agreed to meet again on May 24 to give enough time for Dr. Stoeckel to consider and accommodate the comments and recommendations submitted by members on the Memo that he prepared.

IV. Annex 1: List of Meeting Participants

Mr. Samir Modi
President, CACCI
Chairman, Steering Committee

Ambassador Benedicto V. Yujuico
Member, CACCI Advisory Board
President, Philippine CCI

Mr. Peter McMullin
Vice President, CACCI
Board Member, ICC Australia

Mr. Sheikh Fazle Fahim
Vice President, CACCI
President, FBCCI

Dr.  Pedram Soltani
Vice President, CACCI
Former First Vice President
Iran Chamber of Commerce, Industries, Mines & Agriculture

Mr. Bryan Clark
Director, Trade & Int’l Affairs
Australian CCI

Mr. Mustafa Bayburtlu
(Representing TOBB President Mr. Rifat Hisarciklioglu)
Head European Union and Foreign Economic Relations Dept.
TOBB

Mr. Ernest Lin
Director-General
CACCI Secretariat

Observers

Ms. Basak Onur
Int’l Relations, In-Charge of Asia Pacific Region
TOBB

Ms. Damia Tufan
International Relations
TOBB

CACCI Secretariat

Mr. Amador Honrado
Deputy Director-General
CACCI Secretariat

Mr. Mig Moreno
Deputy Director-General
CACCI Secretariat

“India, China and the US: A new geopolitical landscape” debate

CACCI invites its members and friends to join a series of events presented by the Financial Times and The Indian Express.

The next important debate is “India, China and the US: a new geopolitical landscape” on Thursday 20 May, 4:45-8:05 pm India, 12:15-3:25 pm GMT+1, #IndiaInTheWorld

Senior leaders in foreign policy, international relations and geopolitics will share their insights into this critical situation.

India and China have long jockeyed for influence in the Indo-Pacific region. With China potentially set for further regional dominance due to its rapid economic recovery, how will India position itself diplomatically? And how will India’s relations evolve with the US under the new Biden administration?

In the second of a series of online, agenda-setting debates organised by the Financial Times and The Indian Express, foreign policy leaders and thinkers from India and overseas discuss India’s diplomatic standing in the world, especially with regards to China and the US.

Interested members can visit the homepage HERE for further details and also register for free HERE.

Key talking points:

• India-China: Will tensions deepen and what will be the impact on economic and business ties?
• India-US: Can India become an ideological as well as strategic US partner in geopolitical affairs?
• Diplomatic standing: How will India position itself overall in the post-COVID world order?

CACCI Profile – April edition available

It is our ardent hope that this monthly publication is useful to you and your work, and enables you to know more about the CACCI, our members, and their activities. If you wish other members of your organization to receive a copy of the CACCI Profile, please send us their names, titles/positions, and email addresses through cacci@cacci.biz

We would also appreciate receiving your comments on how we can further improve the CACCI Profile in terms of its format and contents. Thank you for your kind attention, and we look forward to your continued support of the CACCI and its activities.

New Asian-led venture to revive the WTO

The foremost network of business groups from the Asia Pacific has commissioned renowned macroeconomist Dr Andrew Stoeckel to author a study on resurrecting the world trading system.

The Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI), a network of national chambers from 27 economies across Asia and the Western Pacific, will deliver an evidence based argument and plan for reforming the World Trade Organisation (WTO) as well as the relationships with the major global intergovernmental institutions, following the completion of the study mid this year.

As a founding member of CACCI, The Australian Chamber of Commerce & Industry (ACCI) will be managing the project with Dr Stoeckel on behalf of the network.

The WTO (together with its predecessor GATT) has been in situ since the end of the Second World War, regulating trade, global relations and resolving disputes on the movement of goods and services.

However, the current global market environment has made trade liberalisation less of a priority among many countries, threatening the sustainability of the WTO.

The newly commissioned research is a flagship project for CACCI and will provide insight for the entire global trading community. The results will be released in mid-2021 in time for consideration by the next WTO Ministerial Council.

Quotes attributable to CACCI’s regional business leaders:

CACCI President Samir Modi (India) said: “It is an opportune time to examine how the world trading system has deteriorated to its current state, and what can be done to remedy the situation.

“Many countries are more concerned with national security and economic self-interests, leading to a rise in nationalism and protectionism regionally and globally. And, given the growing trend to pursue bilateral economic relationships among many countries, the prevailing circumstances are expected to have further adverse impact on multilateral relationships.

“CACCI, with its initiative to conduct the study ‘Resurrecting the World Trading System’, hopes to focus efforts to the right questions and processes to achieve this important objective.”

CACCI Advisory Board Chair and CACCI President Emeritus Ken Court (Australia) said in a time of rapid communications and decision-making, the resolution of international trade disputes needed to be simplified.

“Most CACCI member nations are medium or small players with much at stake in a global multilateral system – they depend on stable and predictable rules governing international trade and investment.

“A clear mechanism enabling prompt decision-making will not only assist business but also lead to more open dialogue between nations,” Mr Court said.

CACCI Policy Advocacy Working Group Chair and Australian Chamber of Commerce & Industry Trade Director Bryan Clark (Australia) said the WTO’s importance “had been forgotten amidst the pursuit of free trade agreements.

“One of key reasons for establishing the global rules-based trading system was to avoid a repeat of the destructive trade tensions experienced before World War II.

“But rising protectionism, the proliferation of FTAs, trade sanctions and the failure of the dispute settlement body, coupled with rising uncertainty with lower investment, spell great trouble for the world.

“We desperately need this study to address current shortcomings in the system and recommend a path back for the WTO, which is why securing an economist of Dr Stoeckel’s expertise is a boon for the confederation.”

CACCI Advisory Board member Jemal Inaishvili (Georgia) said the promotion of free trade in the region had faced “a lot of challenges in the past”.

“We have seen tensions in trade relations between world and regional leaders, which were not helpful for economic growth.

“Last year, we witnessed enormous disruptions caused by the COVID pandemic, and the difficult situation will certainly continue in 2021. We all are hopeful that by the end of the summer the situation will start to gradually improve.

“All this makes the development of international trading system based on promotion of free trade

even more relevant, and the above-mentioned study will only contribute to achieving our goals.

CACCI Vice President Peter McMullin (Australia) said the CACCI trade study is a “vital piece of leadership at this critical stage in our collective history”.

“The world trading system is in disarray and needs a reset. The study will diagnose the problem and suggest possible and practical solutions. The CACCI Steering Committee will provide the necessary oversight of the study and ensure that it remains focussed on the task at hand.

“Doing nothing is not an option for any of our valued members. We owe it to the rich and productive history of CACCI to embrace this study.

“As trade is foundational to the economic recovery, I think it is in all our interests to seek to advocate that recommendations from the study are adopted by the broader business community and its many organisations.

CACCI Vice President M. Rifat Hisarciklioglu (Turkey) said greater cooperation at the WTO “can defuse trade tensions and provide greater certainty for international trade.”

“Trade is the engine of economic growth and catalyser of peace, prosperity and security. The world economy needs less unilateralism and more multilateralism.

CACCI Vice President Pedram Soltani (Iran) said protectionism “had never been so threatening” to globalisation since the inception of the WTO.

“Asia, the driving force of the global trade growth in the 21st century, has to be more sensitive to such threats. CACCI, as a continent-wide organisation for the private sector, has correctly and timely felt the exigence of paying attention to the headwinds of the World Trading System,” Dr Soltani said.

“The future of the world trade should be more protected by those players who have a higher stake in shaping it.”

CACCI Vice President Sheikh Fazle Fahim (Bangladesh) said developing economies needed sustainable, equitable rules to achieve development goals and grow new industries with ease of market access.

“Developing economies find it difficult to expand their own emerging industries, as multinational companies have competitive advantage in the current global business environment. So, it is imperative promising economies are able to establish and maintain interconnectivity and collaboration among potential trade partners.

“Therefore, the need for a study that explores all these new challenges, gaps, and inconsistencies and finds an inclusive solution for world trade to become an effective system again that leaves no one behind, is paramount.”

Further information:

Marie Hogg | Senior Media Adviser – ACCI – +61 431 299 518
(c) Australian Chamber of Commerce and Industry 2021
Level 3, 24 Brisbane Avenue
BARTON ACT 2600
P | 02 6270 8000
E | info@australianchamber.com.au
W | www.australianchamber.com.au

SME Banking eCouncil on Facilitating digitisation of SMEs

CACCI is pleased to invite members and associates to join another EFMA’s “SME Banking eCouncil on Facilitating digitisation of SMEs.” Lukas Dzuroska, SME Banking Program Director will co-moderate this interactive session together with Ken Burke, Group Head of Consumer Lending and Business Credit Products of AIB Ireland.

As SMEs worldwide are looking to adapt and manage current challenges, there is no better time to connect, discuss, and share with your peers in order to seize the opportunities that these uncertain times offer.

To register click HERE.

The agenda

2:00-2:05 CET  Introduction to the Council’s topic
2:05-2:20 CET  Opening key note speech: Facilitating digitisation of SMEs
2:20-2:25 CET  Introducing Mastercard’s SME anthem: Empowering Every Business
2:25-2:45 CET  D&S Digitization and Data Analytics
2:45-3:10 CET  Case study: From ‘Beyond Banking’ to ‘Before Banking’
3:10-3:35 CET  Collaborative session with global panelists
3:35-3:45 CET  Conclusion & Next steps: SME Banking Program engagement

The speakers

Steering Committee for CACCI Study on World Trading System holds 2nd Meeting on March 2, 2021

The second virtual meeting of the Steering Committee for the CACCI Study on “Resurrecting the World Trading System” was held on March 2, 2021, from 2:00 PM to 3:30 PM, Taipei time. Chaired by CACCI President Mr. Samir Modi, the meeting drew the participation of members of the Steering Committee or their representatives, and CACCI Secretariat officers.

Among others, the meeting considered emerging issues that will have to be considered by the study; reviewed feedback on the CACCI study from regional organizations and from CACCI Primary Members; exchanged views on the Committee members’ reactions to the progress of the study; and discussed other relevant issues and concerns they have on the project at this stage. The Committee agreed to meet again on April 6.

Requesting Representatives for CACCI Young Entrepreneurs

As part of CACCI efforts to further strengthen the CACCI Young Entrepreneurs Group in Asia Pacific (YEGAP), CACCI would like to request Primary Chamber members ONLY to nominate representatives in the Executive Committee of YEGAP. It is our hope that, with Primary Members duly represented in the Executive Committee of YEGAP, the National Chambers will be able to make an important contribution to CACCI’s efforts in promoting youth entrepreneurship not just in their country but in the Asia-Pacific region as well.

As CACCI members may know, YEGAP was created during the 68^th CACCI Council Meeting held in May 2004 in Phnom Penh, Cambodia. Its goal is to provide a venue for young entrepreneurs in CACCI member countries to get actively involved in entrepreneurial development. CACCI envisions the YEGAP to serve as an effective venue for identifying suitable programs geared towards entrepreneurial development for young and start-up entrepreneurs.

The CACCI Council last year approved the Governance Framework applicable to all CACCI Product and Service Councils (PSCs), including YEGAP. Under the approved Governance Framework, it is stipulated that the affairs of  PSCs shall be governed and administered by the Executive Committee composed of at most two duly designated representatives from each CACCI Primary Member. We therefore write to seek your nominations for the YEGAP Executive Committee.

As CACCI members very well know, any organization is only as strong and effective as its members. CACCI is therefore looking for YEGAP Executive Committee representatives from Primary members with the following qualifications:

• Must be 49 years old or younger;

• Have a strong interest and commitment to actively participate in the programs and projects of YEGAP;

• Be willing and financially capable to travel at least once a year to attend meetings of YEGAP;

• Take an active role in setting the general direction of YEGAP and in identifying activities of YEGAP to help achieve its objective of promoting entrepreneurship among CACCI members;

• Be in a position to serve as an effective liaison between YEGAP and young entrepreneurs group in his/her country;

• Be proficient in English; and

• Be eager and willing to render voluntary work for YEGAP

• Preferably a Lifetime Special Member of CACCI

Please send us the names and contact details of your designated representatives in the YEGAP Executive Committee.  Kindly download and fill the Nomination Form, and send it back to us through our Fax No. (886 2) 2760-7569, or by e-mail at cacci@cacci.biz, by March 22, 2021 if possible.

CACCI Profile – February edition available

Taipei – The February 2021 issue of the monthly CACCI Profile newsletter is available in PDF format and ready for download HERE.

It is our ardent hope that this monthly publication is useful to you and your work, and enables you to know more about the CACCI, our members, and their activities. If you wish other members of your organization to receive a copy of the CACCI Profile, please send us their names, titles/positions, and email addresses through cacci@cacci.biz

We would also appreciate receiving your comments on how we can further improve the CACCI Profile in terms of its format and contents. Thank you for your kind attention, and we look forward to your continued support of the CACCI and its activities.

CACCI VPs take on Designated Portfolio

The incumbent CACCI Vice Presidents have agreed to take a lead role in initiating and implementing programs and projects for their designated portfolios during the rest of their term in office.

Following the 92nd CACCI Council Meeting held online on November 20 last year, the incumbent Vice Presidents were requested to indicate which of the CACCI activities they prefer to be responsible for to help achieve CACCI’s objectives of promoting the interest of CACCI members.

After sorting out their indicated preferences, CACCI President Mr. Samir Modi have assigned each of the CACCI Presidents to take the lead in the following CACCI activities:

• Policy advocacy – Mr. Peter McMullin (Australia)
• Participation in Inter-governmental organizations involved in regional cooperation (e.g., ASEAN, APEC, etc.) – Sheikh Fazle Fahim (Bangladesh)

• Strengthening of relationships with other regional and international business organizations (ICC, Eurochambres, etc.) – Rifat Hisarciklioglu (Turkey)
• Promoting trade and investments among CACCI member countries – Teruo Asada (Japan)

• Information exchange program (publications, social media, etc.) – Henry Kao (Taiwan)

• Membership expansion – Pradeep Kumar Shrestha (Nepal)

• Annual Council meetings and Conferences – Dr. Pedram Soltani (Iran)

Each of the Vice Presidents has been requested to propose programs and projects for his designated portfolio.

Research Study Proposal on “Resurrecting The World Trading System”

Background

In 1990, the Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI) commissioned the Centre for International Economics (CIE) in Australia to undertake a study and report entitled “Western Trade Blocs“ which was launched at a CATO Institute event – (Please see page 5 of the September/October 1990 issue of the Cato Policy Report which can be accessed and downloaded through the following link:  https://www.cato.org/sites/cato.org/files/serials/files/policy-report/1990/10/v12n5.pdf). The report was then presented at a number of subsequent meetings including the ICC World Council meeting of that year.

Back when CACCI did the “Western Trade Blocs” study the issue was “Fortress Europe”, shutting out Asia and there was no satisfactory trade analysis model ‘on the shelf ‘ at the time to show what was at stake. This CACCI did and it was helpful in addressing the issue. It led to briefings of the Taiwanese Cabinet (and President) and high-level meetings around the world.

Now, 30 years on and with pandemic, trade tensions, military tensions, the rise of China and the rules-based order faltering, CACCI is again willing to undertake a contemporary study on trade liberalisation.

The context of the trade issue facing business across Asia and globally has now changed. Now, the issue is the demise of the global trading system and extreme uncertainty about the future. Most CACCI member nations are medium or small players in the global system with much at stake in a global multilateral system of stable and predictable rules governing international trade and investment.

It is a deep-seated problem, not easy to fix (otherwise we would have fixed it by now), hence, requiring significant resources and commitment to solving.

While issues with the WTO and other institutions are well known, governments have struggled to overcome these and have allowed confidence in these institutions that  have been in place for many decades, to become seriously eroded.

Business now needs to step into the breach and provide detailed analysis of the current situation and the reforms needed to support the world in a post-COVID growth phase that will be needed by all.

The CACCI study also comes at a time when leadership of both the WTO and the OECD are being renewed. The WTO Ministerial Council (MC12) has been delayed and is now being planned to be held in Nur-Sultan, Kazakhstan in June 2021.

The outcomes of the CACCI study will assist to inform and support WTO reform to ensure that the next generation of growth has the appropriate institutional framework for rules-based trade. The CACCI report should be ready in time for the MC 12 meeting currently planned for June 2021.

The project will comprise of a contemporary study and macroeconomic assessment covering the following issues:

(1) The world trading system as a public good

The multilateral trading system is a global public good that can aid exchange and investment to the benefit of everyone, currently provided under a set of international agreements supervised by the WTO.

(2) The demise of the trading system and WTO

This system is breaking down:

• Failure of Doha Round (despite millions of dollars spent)
• Rising protection, especially NTB’s – the most pernicious sort!
• Resort to trade sanctions to get geopolitical aims (eg nuclear disarmament in Iran, human rights in Hong Kong etc)
• Outright trade wars (e.g., between US and China)
• The proliferation of FTA’s, many of which are not welfare-enhancing
• Failure of dispute settlement body
• Rising uncertainty with lower investment

(3) Why this breakdown matters?

This breakdown matters enormously:

• Costs x% of world GDP and y% lower investment (results from a global macro model)
• While it is in each country’s interests to open trade unilaterally, acting together offers far larger gains and lower adjustment costs

(4) Why has the breakdown happened?

The breakdown has happened for several reasons:

• Inconsistencies, loopholes, confusion in current rules that give mixed messages to the public about the benefits of global trade
• Lack of institutional repair as things have changed (e.g., data sharing, knowledge and technology transfer, IP, how to handle SOE’s, etc.)
• Trying to get trade policy to do too much in areas it has no business (e.g., human rights, labour standards – need to “stick to its knitting”)
• Geopolitical realignment and lack of hegemony – US-China shift
• Lack of genuine transparency and informing domestic constituency about benefits and costs of barriers to trade and investment

(5) What to do to fix the system

The way forward is to address these shortcomings:

• Need to revise, revamp existing loopholes, remove inconsistencies, simplify rules down to core elements (especially Rule #1 and Rule #3)
• New rules to address new issues
• Deal with global issues in the right fora – “stick to trade and commerce knitting” (e.g., human rights to the human right commission, etc.)
• Introduce genuine domestic transparency on trade policies
• Have the new Secretary General of the WTO set up an expert panel (as was done before in the Leutwiler report) to nut out these issues

Steering Committee for CACCI Study on World Trading System Formed

As part of preparations for the conduct of the CACCI research study on “Resurrecting the World Trading System”, a Steering Committee has been formed to ensure that the study is conducted in an orderly way and the agreed timelines and expectations are met.

Composed of CACCI officers and other selected CACCI members, the Committee is expected to  play an important role in helping the research to achieve its potential by providing valuable comments and inputs on the substance and coverage of the research study.

The study will cover the following topics: (a) The world trading system as a public good; (b) The demise of the trading system and WTO; (c) Why this breakdown matters; (d) Why has the breakdown happened; and (e) What to do to fix the system. The study is seen as an opportunity to reposition CACCI as a serious policy advocate for the business sector (and in particular small business) on a global scale.

“TOBB Digitalization Virtual Fair” on January 26-27, 2021

CACCI is pleased to invite its members to join the Union of Chambers and Commodity Exchanges of Turkey’s (TOBB) “TOBB Digitalization Virtual Fair ” to be held on January 26-27, 2021.

To be open 24 hours a day, the two-day Virtual Fair aims to enhance the digital transformation process of SMEs and to eliminate the lack of information and to provide access in this field.  By attending the event, participants will not only be able to conduct one-on-one meetings with companies from different sectors, but also join webinars on topics of: (1) Digital transformation in economy; (2) The key of digitalization: 5G and the internet of things; and (3) The new normal: digitalization.

For more information on the event as well as on registration, interested parties may wish to visit the official website at: https://tobb.org.tr/sanalfuar/ , or contact TOBB directly via the following e-mail: sanalfuar2021@tobb.org.tr .

CACCI Profile – January edition available

Taipei – The January 2021 issue of the monthly CACCI Profile newsletter is available in PDF format and ready for download HERE.

It is our ardent hope that this monthly publication is useful to you and your work, and enables you to know more about the CACCI, our members, and their activities. If you wish other members of your organization to receive a copy of the CACCI Profile, please send us their names, titles/positions, and email addresses through cacci@cacci.biz

We would also appreciate receiving your comments on how we can further improve the CACCI Profile in terms of its format and contents. Thank you for your kind attention, and we look forward to your continued support of the CACCI and its activities.

CACCI Council endorses research study on “Resurrecting the World Trading System”

CACCI Council members at the recently concluded 92nd CACCI Council Meeting held on November 20, 2020 approved the proposal made by the CACCI Advisory Board to commission a research study on “Resurrecting the World Trading System.”

In 1990, CACCI commissioned the Centre for International Economics in Australia – under the leadership of Dr. Andrew Stoeckel – to undertake a study and report entitled “Western Trade Blocs”. Today, some 30 years on and with the pandemic, trade tensions, military tensions, the rise of China and the rules-based order faltering with the World Trade Organization (WTO) losing its way, it was proposed that CACCI should again conduct a contemporary study on trade liberalisation. To this end, several CACCI Officers, among them Advisory Board Chariman Mr. Kenneth Court, President Samir Modi, CACCI Vice President Mr. Peter McMullin, and Mr. Bryan Clark from the Australian Chamber of Commerce and Industry (ACCI) — once again approached Dr. Stoeckel – currently Honorary Professor at the Centre for Applied Macroeconomic Analysis at the Australian National University – to prepare a proposal on the research study.

The new study will cover the following topics:

• The world trading system as a public good
• The demise of the trading system and WTO
• Why this breakdown matters
• Why the breakdown happened
• What to do to fix the system

The research study is estimated to be completed within 12 months, with the final draft ready in 10 months. Review of the final draft is expected to be completed in one month, with an additional month to incorporate comments. The CACCI Council agreed on the importance of the proposed study to help address current issues surrounding trade and investment, while at the same time raising the profile of CACCI as a serious policy advocate for the business.

Samir Modi, CACCI President and Executive Director, K. K. Modi Group

The current global market environment – with many countries more concerned with national security and economic self-interests, leading to a rise in nationalism and protectionism regionally and globally – has made the issue of trade liberalization less of a priority among many economies. And given the growing trend to pursue bilateral economic relationships among many countries, the prevailing circumstances are expected to have further adverse impact on multilateral relationships. It is therefore an opportune time to examine how the world trading system has deteriorated to its current state, and what can be done to remedy the situation. The Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI),  with its initiative to conduct the study on “Resurrecting the World Trading System”, hopes to focus efforts to the right questions and processes to achieve this important objective.

Mr. Kenneth Court, CACCI Advisory Board Chairman and CACCI President Emeritus

In a time of better communications and rapid decision-making, the resolution of international trade disputes needs to be simplified. A clear mechanism enabling prompt decision-making will not only assist business but also lead to more open dialogue between nations.

Mr. PeterMcMullin, CACCI Vice President and Board Member, ICC Australia

The proposed CACCI trade study is a vital piece of leadership at this critical stage in our collective history.

As we all know, the world trading system is in disarray, and needs a reset. The study will diagnose the problem, and suggest possible and practical solutions. The CACCI Steering Committee will provide the necessary oversight of the study, and ensure that it remains focussed on the task at hand.

In the post Covid-19 environment, we all need to find ways to build back better, stronger and differently. Doing nothing is not an option for any of our valued members.

We owe it to the rich and productive history of CACCI to embrace this study, and to promote it not only with our members in the Asia-Pacific region, but with the entire global community. As trade is foundational to the economic recovery, I think it is in all our interests to seek to advocate that recommendations from the study are adopted by the broader business community and its many organisations.

Dr. Pedram Soltani, CACCI Vice President and Former First Vice President, ICCIMA

The world is in the midst of drastic changes and the impacts of such changes have grappled the world trade. Protectionism has never been so threatening the globalization since the inception of WTO. Asia, the driving force of the global trade growth in the 21^st century, has to be more sensitive to such threats. CACCI, as a continent-wide organization for the private sector, has correctly and timely felt the exigence of paying attention to the headwinds of the World Trading System.

The future of the world trade should be more protected by those players who have a higher stake in shaping it. I am privileged to be a member of the steering committee of the research project about flaws and present challenges of the world trade system, run by the CACCI and believe it could be a flagship work of this multilateral institution.

CACCI Secretariat tours MiTAC Corp.

CACCI Deputy Director-General Mr. Amador Honrado (8th from left, front) joined other representatives in Taiwan of embassies and trade and economic offices from other countries during their visit to MiTAC Information Technology Corp. held on October 20, 2020.

Organized by the Taiwan External Trade Development Council (TAITRA), the visit to MiTAC – a Taiwanese electronics company established in 1982 – provided the participants the opportunity to get a better understanding of Taiwan’s capabilities as one of the leading ICT providers in the world. MiTAC has a wealth of experience in system integration and has participated in numerous projects in other countries, such as the Philippines and Indonesia, among others. MiTAC’s businesses cover mobile and automotive solutions, client computing solutions and enterprise solutions that are tailor made to satisfy regional and global market requirements.

SME Development Council’s newsletter available

Taipei – CACCI is pleased to share with its members the Eleventh Volume of the SME Development Council’s newsletter under the Chairmanship of George Abraham. Please click here to read or download.

We hope that this publication will provide its readers with adequate information about the latest developments in the small and medium enterprise (SME) sector in the Asia Pacific region.

Members are encouraged to contribute articles for our future issues. Kindly forward your materials (preferably with accompanying photos) to mig.moreno@cacci.biz.

Thank you, and with best regards.

Ernest Lin
Director-General
CACCI

CACCI Profile – November edition available

Taipei – The November issue of the monthly CACCI Profile newsletter is available in PDF format and ready for download HERE.

It is our ardent hope that this monthly publication is useful to you and your work, and enables you to know more about the CACCI, our members, and their activities. If you wish other members of your organization to receive a copy of the CACCI Profile, please send us their names, titles/positions, and email addresses through cacci@cacci.biz

We would also appreciate receiving your comments on how we can further improve the CACCI Profile in terms of its format and contents. Thank you for your kind attention, and we look forward to your continued support of the CACCI and its activities.

CACCI Profile – December edition available

Taipei – The December issue of the monthly CACCI Profile newsletter is available in PDF format and ready for download HERE.

It is our ardent hope that this monthly publication is useful to you and your work, and enables you to know more about the CACCI, our members, and their activities. If you wish other members of your organization to receive a copy of the CACCI Profile, please send us their names, titles/positions, and email addresses through cacci@cacci.biz

We would also appreciate receiving your comments on how we can further improve the CACCI Profile in terms of its format and contents. Thank you for your kind attention, and we look forward to your continued support of the CACCI and its activities.

Nominations for CACCI Awards Extended to 31 May 2021

As agreed by the CACCI Council Meeting held on November 20, 2020, we wish to advise you that:

• The deadline for submission of online nomination for the four CACCI Awards, namely the 9^th Local Chamber Awards, 8^th Asia-Pacific Young Entrepreneur Award, 3^rd Asia-Pacific Woman Entrepreneur Award, and 4^th Hydropower and Clean Energy Excellence Award, will be extended to June 30, 2021; and

• The final selection of winners and the presentation ceremony of the Awards will be made during the Virtual 35^th CACCI Conference to be held on November 2, 2021.

We encourage your Chamber to participate in the CACCI Awards Program and submit your online nominations for each of the following four Award categories by clicking on the appropriate space below:

• 9^th Local Chamber Awards

https://forms.gle/3FbNJHskKREXsroX8

• 8^th Asia-Pacific Young Entrepreneur Award

https://forms.gle/Kr9R57NRuPkgySCJ9

• 3^rd Asia-Pacific Woman Entrepreneur Award

https://forms.gle/Ar7V9z8RZqmik7w28

• 4^th Hydropower and Clean Energy Excellence Award

https://forms.gle/PAHNtANvoBNk2ek16

Should you have further questions, please do not hesitate to let us know by e-mail at cacci@cacci.biz.

Thank you, and best regards.

Sincerely yours,

Ernest Lin
Director-General
Confederation of Asia-Pacific Chambers of Commerce and Industry

ICC Saudi Arabia Chairman holds Online Meeting with CACCI Secretariat

Mr. Yassin Alsuroor, Vice Chair of the International Chamber of Commerce (ICC) and concurrently Chairman of ICC Saudi Arabia (and Executive Chairman of A’amal Group), touched base with executives of the CACCI Secretariat on July 13 to discuss the possibility of CACCI organizing a webinar during the upcoming B20 Summit tentatively scheduled on October 26- 27, 2020.

The B20 is a forum through which the private sector produces policy recommendations for the annual meeting of the Group of 20 (G20) leaders. The B20 brings together business leaders from across G20 member countries to reflect the key role of the private sector as the main driver of strong, sustainable and balanced growth. The B20 Summit serves as the occasion for the B20 members to present their final policy recommendations to the G20 Presidency. CACCI has been invited to participate in the activities of B20 in previous years. This year’s B20 is chaired by Saudi Arabia.

92nd CACCI Council Meeting – virtual on 20 November 2020

With the ongoing Covid-19 pandemic continuing to prevent people from taking foreign trips, CACCI is left with no choice but to hold this year’s 92nd CACCI Council Meeting in a virtual format.

The virtual meeting of CACCI members will be held on November 20th 2020, from 02:00 pm to 04:00 pm, Taipei time, with the Federation of Indian Chambers of Commerce and Industry (FICCI) as supporting organization. It is hoped that all Primary Members will be represented in the Council Meeting, given its virtual nature.

To be chaired by CACCI President Mr. Samir Modi, this year’s gathering of the CACCI Council, which is the governing body of the Confederation, will be reviewing the activities of CACCI since the last meeting in November 2019 held in Dhaka, Bangladesh, the proposed CACCI Work Program for the next two years, preparations for the 2021 CACCI Conference, the proposed budget for 2021, and proposals for new projects and research study, among others.

The annotated meeting agenda, the link to the meeting platform, and other relevant details was send to the designated representatives of Primary Members prior to the meeting. The latest tentative agenda can be viewed as follows:

Virtual 92nd CACCI Council Meeting

November 20, 2020, 02:00 PM – 04:00 PM, Taipei Time

TENTATIVE AGENDA

(1) Call to Order

(2) Approval of Tentative Agenda

(3) Approval of the Previous Minutes

(4) Report of the Director-General

(5) Financial Report

(6) Membership Report

(7) Report of the Advisory Board

(8) Election of CACCI Officers for 2020-2022

(9) Consideration of the Framework for the 2020-2022 CACCI Work Program

(10) Report of the CACCI Budget Commission

(11) Update on the CACCI Awards

• 9th Local Chamber Awards
• 8th Asia-Pacific Young Entrepreneur Award
• 3rd Asia-Pacific Woman Entrepreneur Award
• 4th Hydropower and Clean Energy Award

(12) Preparations for the 35th CACCI Conference

(13) Creation of the CACCI Planning Committee

(14) Other Matters

(15) Resolution of Thanks to FICCI

(16) Adjournment

CACCI Profile – October edition available

Taipei – The October issue of the monthly CACCI Profile newsletter is available in PDF format and ready for download HERE.

It is our ardent hope that this monthly publication is useful to you and your work, and enables you to know more about the CACCI, our members, and their activities. If you wish other members of your organization to receive a copy of the CACCI Profile, please send us their names, titles/positions, and email addresses through cacci@cacci.biz

We would also appreciate receiving your comments on how we can further improve the CACCI Profile in terms of its format and contents. Thank you for your kind attention, and we look forward to your continued support of the CACCI and its activities.

34th CACCI Conference Virtual on October 30th, 2020 “Achieving Sustainable Growth in a Turbulent and Disruptive Global Market”

CACCI wishes to remind all its members, associates and friends to register – if you have not done so already – for the virtual 34th CACCI Conference to be organized by the Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI), with the support of the Federation  of Indian Chanmbers of Commerce and Industry (FICCI), on October 30, 2020 from 2:00 PM to 03:45 PM, Taipei Time.

Focusing on the theme “Achieving Sustainable Growth in a Turbulent and Disruptive Global Market”, this year’s CACCI Conference – the first-ever to be held by CACCI in an online format – will feature speakers who will elaborate on their perspectives on current trends, challenges, and uncertainties in the world market environment and geopolitical landscape, and the role of governments and businesses in mitigating the impact of  these market developments and global disruptions on the economy and business operations. The webinar participants will therefore have the opportunity to explore what the new normal might look like and prepare for it, to better understand the current landscape they are operating in, and to know what they need to do to resume operations and achieve business recovery. Attached is a copy of the latest Conference Program.

Focus Areas of Discussion

(1) How the Asian economies are being shaped by the COVID-19 containment measures

(2) The Challenge of Restoring the Multilateral Trading System

(3) The China-US Trade Friction and its Impact on the Global Economy

Register in advance for this complimentary virtual Conference through the following link:

https://registrations.ficci.com/caccia/visitor-registrationv.asp

CACCI Profile – September edition

Taipei – The September issue of the monthly CACCI Profile newsletter is available in PDF format and ready for download HERE.

It is our ardent hope that this monthly publication is useful to you and your work, and enables you to know more about the CACCI, our members, and their activities. If you wish other members of your organization to receive a copy of the CACCI Profile, please send us their names, titles/positions, and email addresses through cacci@cacci.biz

We would also appreciate receiving your comments on how we can further improve the CACCI Profile in terms of its format and contents. Thank you for your kind attention, and we look forward to your continued support of the CACCI and its activities.

“Achieving Sustainable Growth in a Turbulent and Disruptive Global Market” – Virtual 34th CACCI Conference October 30, 2020

The virtual Conference will feature invited speakers who will exchange views on current trends, challenges, and uncertainties in the world market environment and geopolitical landscape, and the role of governments and businesses in mitigating the impact of  these market developments and global disruptions on the economy and business operations. It aims to provide the participants the opportunity to explore what the new normal might look like and prepare for it, to better understand the current landscape they are operating in, and to know what they need to do to resume operations and achieve business recovery.

Proposed Program

(As of September 21, 2020)

02:00pm – 02:05pm     Welcome Statement by FICCI President Dr. Sangita Reddy

02:05pm – 02:10pm     Opening Remarks by CACCI President Mr. Samir Modi

02:10pm – 02:30pm    Keynote Speech by Dr. Rajiv Kumar, Vice Chairman, NITI Aayog

02:30pm – 02:50pm    Presentation by Mr. Abdul Abiad, Director, Macroecononic Research Division, Economic Research and Regional Cooperation Department, Asian Development Bank

02:50pm – 03:10pm    Presentation by  Dr. Andrew Stoeckel, Honorary Professor, Centre  for Applied Macroeconomic Analysis,  Australian National University

03:10pm – 03:30pm     Presentation by Mr. Richard Koo, Chief Economist, Nomura Research Institute (To be confirmed)

03:30pm – 03:34pm     Panel Discussion / Q&A Session

Register here…

https://registrations.ficci.com/caccia/visitor-registrationv.asp

Moderator:

Mr. Dilip Chenoy
Secretary-General, FICCI

Virtual 34th CACCI Conference on “Achieving Sustainable Growth in a Turbulent and Disruptive Global Market” in October 30th 2020

CACCI invites members, associates and friends to join the virtual 34th CACCI Conference to be held on October 30, 2020.

Focusing on the theme “Achieving Sustainable Growth in a Turbulent and Disruptive Global Market.” the virtual Conference will feature invited speakers and panelists who will exchange views on current developments, challenges and disruptions in the regional and world market environment and geopolitical landscape and how these impact on the economies and business operations of the region.

The CACCI Secretariat is currently coordinating with the Federation of Indian Chambers of Commerce and Industry (FICCI) on the preparations for the virtual Conference. Members will be duly notified as soon as the Conference Program and other relevant arrangements are finalized.

The three areas of discussion to be presented are:

(1) The emerging challenges in the global environment such as the ongoing US-China trade war, US sanctions on certain economies, the protracted Hong Kong protest movement, security-related challenges, the COVID-19 pandemic, and natural and man-made disasters; and how to mitigate their negative impact on the economy and on business.

(2) How the Asian economies are being shaped by the Covid-19 containment measures and the resulting reduction in mobility, weak external demand, and disruptions in global and regional supply chains.

(3) The need of businesses for digital transformation  to achieve sustainable growth, for training and management of the workforce to meet market challenges, and the role of businesses in mitigating the impact of market disruptions (such as the Covid-19 pandemic, climate change and other natural or man-made disasters) on their business operations as well as on their customers.

We look forward to your participation in our virtual gathering this year. Should you have questions at this stage, please do let us know by writing to cacci@cacci.biz

CACCI Profile – August edition available

Taipei – The August issue of the monthly CACCI Profile newsletter is available in PDF format and ready for download HERE.

It is our ardent hope that this monthly publication is useful to you and your work, and enables you to know more about the CACCI, our members, and their activities. If you wish other members of your organization to receive a copy of the CACCI Profile, please send us their names, titles/positions, and email addresses through cacci@cacci.biz

We would also appreciate receiving your comments on how we can further improve the CACCI Profile in terms of its format and contents. Thank you for your kind attention, and we look forward to your continued support of the CACCI and its activities.

MHP is Newest CACCI Lifetime Special Member

PrJSC Myronovskiy Hliboproduct (MHP), a vertically integrated agrarian holding headquartered in Kiev, Ukraine, has become the newest Lifetime Special Member of the Confederation of AsiaPacific Chambers of Commerce and Industry (CACCI). MHP is the leading Ukrainian producer of poultry products, with a total production of more than 700,000 tons per year.

The company exports its products to more than 70 countries. It has production facilities in the Netherlands, Slovenia, and Slovakia, and a distribution office in the UAE. MHP’s vertically-integrated business model provides an ability to control the quality of products “from the field to fork”.

MHP owns and operates modern facilities at each of the key stages of chicken production processes: grain and fodder production; egg incubation and grow-out; processing; marketing; and sales and distribution. This enables maintenance of strict biosecurity standards throughout the entire production process and enhances quality control.

As part of its verticallyintegrated business model, MHP grows corn, sunflower and soya to support its chicken production. Grains such as wheat and rape are also grown for sale to third parties. The company leases agricultural land located primarily in the highly fertile black soil regions of Ukraine. MHP is headed by its CEO and major shareholder Yuriy Kosyuk.

CACCI meets with Indian Representative in Taiwan

CACCI Director-General Mr. Ernest Lin (2nd from right) had a lunch meeting on July 15, 2020 in Taipei with Mr. Rishikesh Swaminathan Ravikumar, Deputy Director-General of India Taipei Association (3rd from left).

They were joined by Mr. Guann-Jyh Lee, Deputy Director-General, Bureau of Foreign Trade, Ministry of Economic Affairs, Republic of China (Taiwan) (right); Dr. Madhu Cherukury, CEO, Allgenesis Biotherapeutics Inc. (2nd from left); and CACCI Deputy Director-General Mr. Amador Honrado (left).

Discussions focused on business and investment opportunities for Indian companies in Taiwan, among others.

CACCI Profile – June edition available

Taipei – The June issue of the monthly CACCI Profile newsletter is available in PDF format and ready for download HERE.

It is our ardent hope that this monthly publication is useful to you and your work, and enables you to know more about the CACCI, our members, and their activities. If you wish other members of your organization to receive a copy of the CACCI Profile, please send us their names, titles/positions, and email addresses through cacci@cacci.biz

We would also appreciate receiving your comments on how we can further improve the CACCI Profile in terms of its format and contents. Thank you for your kind attention, and we look forward to your continued support of the CACCI and its activities.

Young Entrepreneurs newsletter available

CACCI is pleased to make available the 21st edition of Young Entrepreneurs Group Asia-Pacific, the newsletter of the Young Entrepreneur Group of Asia-Pacific (YEGAP) under the chairmanship of Ms. Anna Marie Periquet from the Philippines.

We hope that this edition– and the future ones– will continue to serve as an effective platform for an exchange of information among young entrepreneurs in the region.

If you wish to contribute articles or other materials that can be published in the next newsletter, you may send them through the CACCI Secretariat’s e-mail address at cacci@cacci.biz

Thank you and best regards.

Sincerely yours,

Ernest Lin
Director-General
CACCI

CACCI Profile – July edition available

Taipei – The July issue of the monthly CACCI Profile newsletter is available in PDF format and ready for download HERE.

It is our ardent hope that this monthly publication is useful to you and your work, and enables you to know more about the CACCI, our members, and their activities. If you wish other members of your organization to receive a copy of the CACCI Profile, please send us their names, titles/positions, and email addresses through cacci@cacci.biz

We would also appreciate receiving your comments on how we can further improve the CACCI Profile in terms of its format and contents. Thank you for your kind attention, and we look forward to your continued support of the CACCI and its activities.

CACCI Tourism newsletter available

Taipei – CACCI is pleased to inform all members that the 22nd Volume of CACCI Tourism Newsletter under the Chairmanship of Mr. Anura Lokuhetty from Sri Lanka is available for download.

We hope that this publication will serve as an effective platform for an exchange of information among the tourism sector in the CACCI region.  Members are, therefore, encouraged to contribute articles for our future issues.  Kindly forward your materials (preferably with accompanying photos) to wendy.yang@cacci.org.tw

Thank you, and with best regards.

Sincerely yours,

Ernest Lin
Director-General
CACCI

XIV CACCI Health & Education newsletter available

Taipei – We are pleased to inform you that the fourteenth Volume of CACCI Health & Education Newsletter has been formally issued.

You can download the newsletter HERE.

We hope that this publication will serve as an effective platform for an exchange of information among the sector of health and education in the CACCI region.  Members are, therefore, encouraged to contribute articles for our future issues.  Kindly forward your materials (preferably with accompanying photos) to wendy.yang@cacci.org.tw

Request for Project Proposals for Funding by the CACCI Foundation

CACCI would like to invite Chamber members to submit formal proposals on projects that they wish to be financed by the CACCI Foundation.

As members are aware, the CACCI Foundation was established in 2006 to help Primary and Affiliate Members implement projects aimed at promoting entrepreneurship and the development of small and medium enterprises (SMEs). The ultimate objective is to assist chambers in Asian developing countries to become sustained contributors to the economic development of the private sector.

Since its establishment, the CACCI Foundation has helped finance the following four projects (pictured above), with each one receiving US$5,000:

(1) “Youth Business Sri Lanka Programme” in Sri Lanka – Managed by the Ceylon Chamber of Commerce, the Programme provided assistance (in the form of a loan of US$500 and mentoring support) to enterprising youths who have viable business plans but do not have financial resources;

(2) “Life Forever Beautiful-Organic Mongolia” in Mongolia – An initiative of the Mongolian National Chamber of Commerce and Industry (MNCCI), the project was aimed at procuring yak’s milk from herders, with the view to creating a foundation for milk production.

(3) “Promoting Women Entrepreneurship Through Development of SMEs” in Bangladesh – Initiated by the Barisal Women Chamber of Commerce and Industry (BWCCI), the project assisted the entrepreneurial development of women, especially the less fortunate ones, in Barisal, which is an old port located some 353 kilometers from Dhaka in southern Bangladesh.

(4) “Empowering Women Entrepreneurs in Cosmetic Industry” in Mongolia – The MNCCI project is primarily aimed at strengthening the capacity of female-owned cosmetic companies by conducting training to some 200 employees (both women and men) of the 30 Mongolian companies engaged in the manufacture of end-use cosmetics.

CACCI calls on all Chambers to submit their formal proposals on projects – either ongoing or still to be implemented – that encourage entrepreneurship and promote the growth and development of SMEs, thereby helping us achieve the objective of the CACCI Foundation.

To serve as your guide in preparing the project proposal, please download HERE, a copy of the Project Proposal Framework outlining the suggested elements of the project proposal.

We would appreciate it very much if you could submit to us your project proposal/s by August 15, 2020, if possible.

Should you have further questions, please write to cacci@cacci.biz.

Nominations to 2020 CACCI Awards extended to November 30th

Due to the Covid-19 pandemic which has led to lockdown in many countries and thereby resulted in the decision to hold the virtual 34th CACCI Conference instead of having a face-to-face meeting, CACCI wishes to advise that:

(a)   The deadline for submission of online nomination for CACCI Awards, namely the 9th Local Chamber Awards, 8th Asia-Pacific Young Entrepreneur Award, 3rd Asia-Pacific Woman Entrepreneur Award, and 4th Hydropower and Clean Energy Excellence Award, will be Online nomination extended to November 30, 2020; and

(b)   The final selection of winners and the presentation ceremony of the Awards will be made during the 35th CACCI Conference to be held in Wellington, New Zealand in 2021, instead of the original schedule of October 2020 in Taipei.

CACCI encourage your Chamber to participate in the CACCI Award Program and submit your online nominations for each of the following four Award categories by clicking on the appropriate space below:

9th Local Chamber Awards

Apply HERE

8th Asia-Pacific Young Entrepreneur Award

Apply HERE

3rd Asia-Pacific Woman Entrepreneur Award

Apply HERE

4th Hydropower and Clean Energy Excellence Award

Apply HERE

Should you have further questions, please do not hesitate to CACCI by e-mail at cacci@cacci.biz.

Virtual conference on “Roadmap Towards Back-to-Business for Asia Pacific Countries”

CACCI is pleased to invite members, partners and friends to participate in the virtual conference on  “Roadmap Towards Back-to-Business for Asia Pacific Countries” jointly organized by CACCI and the Federation of Indian Chambers of Commerce and Industry (FICCI) on June 2, 2020, at 11:30 AM, India time.

As you are well aware, 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, FICCI and CACCI have 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 will 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.

Hereunder are the relevant details on the virtual conference.

Event: Roadmap towards back to business for Asia Pacific Countries

Event address for attendees: https://ficciindia.webex.com/ficciindia/onstage/g.php?MTID=e3632c692ddab554911f0316eea18cc32

Date and time: Tuesday, June 2, 2020 11:30 am India Time (Mumbai, GMT+05:30)

Duration: 1.5 hours

Description: Roadmap towards back to business for Asia Pacific Countries

Event number: 913 359 754

Event password: INT2020

CACCI Joins Virtual 15th ASEAN-BAC JBCs Meeting

The Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI) participated in the 15h ASEAN Business Advisory Council (ASEAN-BAC) Joint Business Councils (JBCs) meeting held via Zoom on May 15, 2020.

Chaired by Dr. Doan Duy Khuong from ASEAN-BAC Vietnam and Vice President of Vietnam Chamber of Commerce and Industry (VCCI), and moderated by Mr. Gil Gonzales, Executive Director of ASEAN-BAC Secretariat, the two-hour virtual meeting discussed possible JBC response to COVID-19 and the way forward. Among others, the participants considered the ASEAN Secretariat Report on the economic impact of the COVID-19 pandemic and proposed policy recommendations. Representatives of each of the JBCs also provided updates on their recent and upcoming activities to help mitigate the impact of the pandemic.

Representing CACCI during the video conference was Mr. George Abraham, Chairman of the CACCI SME Development Council and Chairman and Managing Director of The GA Group Pte Ltd. from Singapore, Also in attendance were CACCI Director-General Mr. Ernest Lin and Deputy Director-General Mr. Amador Honrado Jr.

In his report to the meeting, Mr. Abraham:

Cited the disparate nature of the impacts of the COVID-19 pandemic across nations in the region. He noted that Australia and New Zealand are just about out of the virus critical stages with highly successful lockdowns and are now moving towards the reopening of our economies to international travel. Other nations in the region, on the other hand, are not so fortunate.

Underscored the importance of the update of digital technology and to cement the gains and not see a return to the “old ways” post crisis. Especially related to trade and trade facilitation such as trade documents. However, across Asia there are still embedded systems that are constraining trade, especially much-needed health supplies as well as “normal trade” in goods and services that are vital to all economies across our region.

Stressed the need to counter the rise in nationalism and protectionism. Revision to “beggar thy neighbour” policies will see catastrophic consequences well beyond the virus. All business groups must champion free trade and seek to remove barriers to trade including tariffs and non-tariff barriers. This is also true for investment.

Cited the importance of movement of people for the economic success of the region, particularly for labour, education, and tourism, among others. Obviously, this can only be done when it is “safe” and appropriate protocols are observed for some time to come. Airlines and other industries dependent on movement of people will be critically disadvantaged if lockdowns continue too long.

Pointed out the need for the market to continue to operate. Businesses fail all the time. Stimulus measures should not be aimed at subsidising non-viable business – no matter how large they are. Subsidies are a transfer of taxpayer money to business and need to be rejected. The market-based systems of allowing business to flourish and provide jobs needs to be restored as quickly as possible in all nations.

CACCI joined the virtual meeting as an Associate Member of the ASEAN-BAC JBCs. The Confederation was admitted as Associate Member in June 2019.

CACCI Advisory Board Members hold virtual meeting

Members of the CACCI Advisory Board, composed of past and current Presidents of the Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI), held a virtual meeting on May 20, 2020 to discuss how CACCI should adopt to the changing world brought about by the COVID-19 pandemic and maintain its relevance to its members.

Presided by Advisory Board Chairman Mr. Kenneth Court from Australia, the virtual meeting was attended by Mr. Harvey Chang from Taiwan, Amb. Benedicto Yujuico from the Philippines, Mr. Jemal Inaishvili from Georgia, and the incumbent CACCI President Mr. Samir Modi from India. Also in attendance were CACCI Secretariat officers led by Director General Mr. Ernest Lin as well as Ms. Aneesha Duggal, Special Assistant to Mr. Modi.

The Advisory Board members exchanged views and insights on how the Confederation can continue to serve and be of value to its members under the current circumstances and uncertainties caused by the pandemic.

Among other, they shared ideas on how to continue bringing members together during this time when congregating in person is not possible, how to assist and learn from each other as they face identical challenges across the region, how to maintain communications with and among members to keep them informed and learn from each other’s experiences; and how to move forward into the future under the so-called new normal created not only by the pandemic but also by the changing geopolitical and global economic landscapes.

The Advisory Board agreed to hold more virtual meetings on a regular basis to discuss issues that may arise during these difficult times and the critical things members can do together to see this through.