Time to sell the story

By Mark Reynolds

Two days of talks by world business leaders in Auckland have concluded with executives recognising a need to win popular support for economic policies that have been slow to bring benefits into the homes of consumers.

Companies and governments in Apec-member countries needed to show there were real benefits in pursuing the much-vaunted "free market agenda", businesspeople at the Apec chief executives summit said. Once this broad base of support was established, an accelerated programme of economic change to lift living standards needed to be undertaken.

In essence, those countries in Apec that have moved well down the path of free-market reform were told they must publicise proof that it works, while those that have been slow in making progress were told they must catch up.

The 250 executives at the summit - who were by far the most eminent group of businesspeople ever assembled in New Zealand - will this morning deliver their message to political leaders gathered for the Apec economic meeting.

The business message will specifically call for critical trade issues to be tackled quickly, including speeding up planned moves to achieve free and open trade and investment throughout the world by 2010 for developed countries and by 2020 in developing economies.

The executives will also call for international standards for economic governance, development of greater transparency and accountability in the financial sector and a regional approach to building infrastructure in Apec economies.

John Maasland, chairman of the summit, said businesspeople were keen to work closely with Apec political leaders to increase the pace of reform and make sure a gap between developed and developing countries did not widen. If this was achieved, then disturbing statistics like the fact that half of the people in Asia had never made a phone call could be eliminated, he said.

The executives recognised that Apec politicians would need a lot of courage if they were to deliver the policies that corporations want. But if that courage was not shown, then free trade would founder, economies would contract and people would suffer.

"We are certain that the benefits to all Apec communities will become increasingly evident if these specific actions are taken speedily and forcefully," Mr Maasland said.

The chief executives said their near-term challenge was to make sure the things they had talked about in Auckland over the past two days were turned into some firm policies that could be delivered to next year's Apec meeting in Brunei.

After that was achieved, the bigger challenge was to make Apec's agenda the world's agenda.