Reception for the Meeting of the APEC Business Advisory Council

Dr. Vip, ABAC Chair and Co-Chairs,
Mr. Takagaki, ABAC Japan Leader,
Honorable Members of the Council,
Ladies and Gentlemen,

It is a great pleasure for me to give you a few words today to welcome you who have come all the way here to Tokyo for the Meeting of the APEC Business Advisory Council, ABAC. At the beginning of my remarks, I would like to express my sincere gratitude to the members of ABAC Japan and all those concerned who have worked so hard for this meeting.

I have been informed that the distinguished members of ABAC will discuss and conclude the outline for the Recommendations this week that will be submitted to the APEC Leaders Meeting held in Bangkok in October. Since it is indispensable for APEC to be fully engaged by the business sector in its activities, I do hope that the ABAC members will present their ideas vigorously and exchange views actively at the meeting, and continue to contribute to the growth of regional economy.

The endeavors that APEC has taken so far are now bearing tangible fruits. One of the most outstanding fruits is the launch of APEC Business Travel Card, ABTC, which the Government of Japan has also decided to join from this April. To commemorate this, let me take this opportunity to hand over these brand-new cards to the three ABAC members of Japan, Mr. Takagaki, Mr. Kawamoto and Mr. Yonemura, with Prime Minister's presence.

As trade and investment issues encompass wide variety of challenges, we should address new issues for which APEC members have keen interests, notably intellectual property rights, regional financial cooperation and Free Trade Agreements, which are gaining importance in Asia-Pacific region. Recognizing the importance of these issues, the Government of Japan and ABAC Japan are co-hosting a symposium in the afternoon of 16th May. I hope all of you actively participate in the symposium.

Ladies and Gentlemen,

We are all aware that some of the current conditions that circumscribe the Asian-Pacific economy are not necessarily positive. APEC members should continue to assist each other in building its capacity to combat difficulties for the sound development of economy. With the outbreak of SARS (Severe Acute Respiratory Syndrome) Japan has been extending assistance to other APEC economies to overcome SARS. As Japan strives for structural reform of economy, we seek for useful work in APEC. Counter-terrorism activities are another area where APEC can make significant contributions.

With active collaboration with you, ladies and gentlemen, I hope that APEC will continue to advance for prosperity of the region.

Before closing my remarks, let me propose this evening's toast to the success of ABAC Tokyo Meeting and to the health of all the guests present.

("Toast")

Thank you very much.