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President Lee Addresses APEC Business Advisory Council

President Lee Teng-hui this evening was invited to deliver a speech at the dinner hosted by the APEC Business Advisory Council.


The full text of President Lee's speech is as follows:


Chairman Koo; Members of the APEC Business Advisory Council; Ladies and Gentlemen:


It is my pleasure to be here at the invitation of Chairman Koo and spend this evening with you and members of the APEC Business Advisory Council, who are currently meeting in Taipei, Taiwan, the Republic of China. On behalf of the government and people of the Republic of China, I would first like to extend a sincere welcome to all the representatives of ABAC who have traveled here from afar.


Each of you is a business leader in the Asia Pacific region, representing the substantial economic influence of the business sector. I commend your accomplishments and your extensive and active participation in the APEC forum. As we arrive at the threshold of the 21st century, the private sector continues to possess solid and substantial power. Undoubtedly, it will continue to play an important and leading role in creating economic growth and advancing human civilization in the world.


With the advent of the Asian financial storm this past year, economies around the Pacific Ocean have suffered setbacks, although not to the same degree in severity. Be that as it may, the most pressing issue facing the current process of economic integration in the Asia Pacific region is: how to accelerate economic recovery by coordinating the public and private sectors and by cooperating across national borders. The public and private sectors in these economies have devoted massive efforts in this direction. Furthermore, the Financial Crisis Task Force of ABAC, headed by Mr. Koo, has actively promoted various recommendations for reform, which have helped considerably to mitigate the crisis. We are also confident that your discussions at this meeting will significantly contribute to strengthening Asian Pacific economic cooperation.


As a member of Asian-Pacific nations, the Republic of China has always contributed to the development and stability of this region. In the future, we certainly will continue to do our best, through concrete actions, to assist other countries emerge from the shadow of the financial crisis, and toward building together a peaceful, cooperative and prosperous new Asian-Pacific century.


Lastly, I wish everyone success, good health and happiness. Thank you.

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