T R A DE TA L K S
TRADE TALKS
from the 21 APEC member economies, it is a fascinating rōpū. I gave three presentations: on the World Trade Organisation (WTO) and our multilateral trading system, the role of indigenous business in our economies, and mega-trend effects on food and agribusiness. I was proud to include Kono in my presentations and to be able to talk about what makes us special. So what did I get out of the meeting? 1. The Asia-Pacific business community is worried about the stability of the trading system: that we are focused on strengthening the WTO and pressing on with regional economic integration. Business and communities do best with open, predictable, dynamic markets, not protectionism and volatility.
Craig Heraghty and Rachel Taulelei at ABAC 2020, Sydney, Australia.
2. Sustainability and especially climate change is a huge focus and there were challenging discussions on energy, food, and environmental, social, and governance business practices.
At
Business wants to be part of the solution, not the end of 2019, Prime Minister Jacinda
seen as the problem. Businesspeople have a
Arden announced the appointment of Kono
real role to play here. I also asked the necessary
CEO Rachel Taulelei to the Asia Pacific Economic
question, are we being good ancestors?
Cooperation (APEC) Business Advisory Council (ABAC). The main mandate of this council is to
3. Shared prosperity and inclusion are more
advise leaders and other APEC officials on issues of
than just abstract concepts – there was a lot of
interest to business.
discussion about how to empower women and
Exporting and trade are a big focus for Kono, as
encourage small and medium-sized enterprises.
well as for the New Zealand economy as a whole.
It will still be a journey to get indigenous issues
APEC is a significant trade and economic forum.
where they belong, front and centre, but the week
It represents 21 economies around the Asia-Pacific
was a positive start. Reducing barriers, building
region, including Chile, China, Papua New Guinea
capacity, unlocking digital potential and
and Philippines; it represents 71 per cent of New
changing mindsets will all make a difference.
Zealand’s two-way trade, 80 per cent of our direct investment, and 8 of our top 10 markets. New
4. There is a strong sense of purpose from around
Zealand has free-trade agreements with 18 out of 20
the region on the key role that the business
of the APEC economies.
community can play in helping shape a
Rachel Taulelei reflects on the insights she has gained from her first ABAC meeting. As appointees on ABAC, we represent the
prosperous, inclusive and sustainable AsiaPacific over the coming decade. We are committed to improving equity and inclusion
interests of the New Zealand business community.
for the wellbeing of all. World events such as
The aim is to raise the profile of issues important to
the coronavirus epidemic show us how quickly
the Asia-Pacific region, but specifically to Aotearoa.
international trade can be disrupted, and how
In early February, I co-chaired the first ABAC
reliant we are on the flow of goods, both into
meeting of the year in Sydney. With representatives
and out of the country.
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