DATE:			October 23, 2001

TO:			US-ASEAN Business Council Members

FROM:		Ken Richeson
			Executive Director
			US-ASEAN Business Council
			Tel: (202) 416-6704
			Fax: (202) 289-0519
			E-mail: kricheson@usasean.org
<mailto:kricheson@usasean.org>
			Best Business Briefing 24/7: www.us-asean.org
<http://www.us-asean.org>

SUBJECT:		Post APEC Report


SUMMARY: The story of Shanghai is one of cooperation focused on moving
forward, away from terror and low growth, towards economic recovery and
further progress in trade and investment facilitation and liberalization
(TIFL). The APEC Leaders were unanimous in their support an
anti-terrorist statement proposed by the US government. In addition, as
expected, they endorsed the launch of a new WTO round, albeit with an
emphasis on greater consultation with developing countries in shaping
the agenda. They also approved a Shanghai Accord that recommits the APEC
economies to meeting the Bogor Goals of 2010 and 2020.  The APEC Leaders
Statement and other key documents have been posted on the Council's
website and can be accessed at <http://us-asean.org/APEC/index.htm>. 

The US-ASEAN Business Council hosted a very successful dinner with
President Arroyo of the Philippines in Shanghai that sets the stage for
a much larger event when President Arroyo visits the US in November.
During our luncheon with Dr. Supachai, he expressed "cautious optimism";
emphasizing that agreement on an agenda for a new WTO round was within
reach. The Council also organized a US-Malaysia private sector dialogue
to explore ways in which the private sectors in both countries could
leverage the APEC meeting between President Bush and Prime Minister
Mahathir in improving US-Malaysian relations.

PRESIDENT BUSH: In his remarks to the APEC CEO Summit, President Bush
spoke directly to the need for defeating terrorism and this message was
well received and well publicized. In addition, he spoke on the benefits
of international trade and globalization and noted that the events of
September 11 provide an opportunity for strengthening and expanding
international trade.  President Bush noted that the US would do its part
by stimulating its economy and keeping US markets open, a statement that
was very well received by the audience. He also called on all CEOs in
the audience to press their governments to live up to their commitments
to meet their Bogor Goals and support the launch a new WTO round. In
closing his remarks, President Bush noted that the APEC economies must
work together against terrorism without undermining trade and to ensure
that the benefits of expanded trade are widely shared.

US GOVERNMENT MEETINGS: In his meeting with the US private sector,
Secretary of State Powell provided a candid and broad ranging review of
US government policies. A transcript of his remarks has been posted on
US-ASEAN Business Council web page and can be accessed at
<http://us-asean.org/APEC/index.htm> In a separate meeting, Deputy USTR
John Huntsman stressed the importance of launching a new WTO round. He
acknowledged that in the run-up to Seattle there had been insufficient
consultations with developing countries and too many pre-negotiation
agreements. However, progress is now being made on narrowing the agenda
and he was hopeful that a new round would be launched in November. He
expects the US-Singapore Free Trade Agreement to be finalized during the
first quarter of 2002, although financial services and transshipment
issues still must be resolved. In response to a question concerning USTR
priorities, Huntsman listed them as: (1) Congressional approval of Trade
Promotion Authority (TPA); (2) launch of a new WTO round; (3) managing
regional and bilateral trade relations; and, (4) implementation of
China's WTO accession agreement and US trade agreements with Vietnam and
Laos. 

RECEPTION AND DINNER FOR PRESIDENT ARROYO: The Council hosted a small
reception and dinner for the Philippine President, HE Gloria Macapagal
Arroyo, in Shanghai. Discussions were informal and far reaching and
served as a prelude to the President's visit to the US in November when
she will meet with members of the Council and make a major policy
address at a Council Dinner on November 20. Sponsorship opportunities
for the DC events are available. Contact: Walter Lohman
(wlohman@us-asean.org <mailto:wlohman@us-asean.org>) 

LUNCHEON WITH DR. SUPACHAI: The Secretary General - Elect of the World
Trade Organization meet with members of the US-ASEAN Business Council
over lunch in Shanghai. Dr. Supachai gave some brief opening remarks and
then engaged in a broad ranging discussion of specific issues. He
acknowledged that there was still a lot to be done but noted that
progress had been made on developing an acceptable agenda for a new
round. This was accomplished by making the agenda much more general and
leaving the specifics to be developed and agreed to later. This has
proven to be a successful tactic in the past and the expectation is that
it will work again. In addition, since the meeting in Seattle, there
have been broader consultations with the developing countries. As a
result, Dr. Supachai was cautiously optimistic that agreement would be
reached in November to launch a new round.

US-MALAYSIA PRIVATE SECTOR DIALOGUE: The Council also organized a
US-Malaysia private sector dialogue to explore ways in which the private
sectors in both countries could leverage the APEC meeting between
President Bush and Prime Minister Mahathir in improving US-Malaysian
relations. A number of suggestions and ideas were discussed which
focused on improving communications and joint US-Malaysian private
sector efforts to demonstrate the benefits of international trade and
investment. A draft of these recommendations is being developed and will
be provided to the members of the US-ASEAN Business Council for review
and comment before any further actions are taken.    	

Ken Richeson
Executive Director
US-ASEAN Business Council
Tel: 202-416-6704
Fax: 202-289-0519
E-mail: kricheson@usasean.org