A delegation of EABC Members was delighted to accept an invitation from Prime Minister Julia Gillard to participate in the 12th Asia-Europe Business Forum (AEBF12), held at the Egmont Palace Brussels on Monday 4th October, and to meet with the Prime Minister to discuss EABC’s forward agenda. Members of the EABC delegation were EABC President Alastair Walton (Chairman, BKK Partners), EABC Board Member Michael Ullmer (Deputy Group CEO National Australia Bank), EABC Corporate Council Member Simon Rothery (Co-CEO and Managing Director Goldman Sachs & Partners Australia) and EABC CEO Jason Collins.

The Prime Minister’s visit to Brussels for the 8th Asia-Europe Meeting (ASEM8) was the first international visit for the Prime Minister, and the first meeting at which Australia has been represented. The biennial ASEM meeting brings together the leaders of 16 Asian nations and the ASEAN Secretariat, and the 27 member states of the European Union and the European Commission. Nine of Australia’s top ten trading partners are ASEM members. Key topics discussed included the global economic crisis, sustainable development, the Millennium Development Goals, climate change and energy security, as well as country-specific situations such as Iran, Burma, Afghanistan and North Korea. A copy of the ASEM Chairman’s communiqué can be found here.

During her visit Prime Minister Gillard held a range of bilateral meeting with Heads of State and Heads of Government, including a first meeting with European Commission President Jose Manuel Barroso. The meeting initiated discussions on upgrading the Australia-European Union relationship to a formal treaty, a development advocated and strongly supported by EABC Members. A range of other important bilateral meetings were held with European Council President Herman van Rompuy, German Chancellor Angela Merkel, French President Nicolas Sarkozy, UK Deputy Prime Minister Nick Clegg; and from Asia, Chinese Premier Wen Jiabao, Japanese Prime Minister Naoto Kan, and Korean President Lee Myung-bak.

EABC Members briefed the Prime Minister on the significant developments of the EABC including the recent business mission to Brussels, Geneva and Istanbul in June 2010; the importance of government and business organisations working together to promote trade and investment flows between Australia and Europe (Australia’s largest source of inbound investment), EABC’s progress in building business networks with counterpart organisations in Brussels and major European capitals, and with national chambers of commerce, and with peak business and industry organisations. In particular, the delegation expressed support for the Australian Government’s efforts to oppose the introduction of a global financial services tax, the careful application of Basel III principles, and the promotion of Australia as an Asia-Pacific financial services hub.

The EABC delegation later participated in the Asia Europe Business Forum with leading business representatives from each of the ASEM member countries, convened by the Confederation of Belgian Enterprise and chaired by Herman Daems, Chairman of BNP Paribas Fortis Bank. The theme of the one-day conference was Financial Services Industry: Opportunities and Challenges for Asia and Europe, with presentations by the Foreign Minister of Belgium and the Minister representing the Prime Minister of Singapore; the Chief Economist of the IMF; the Presidents of NYSE Euronext, Maybank and the Warsaw Stock Exchange; the CEOs of Standard Chartered Bank, and ING; the Chairmen of Union Bank of India, Euroclear, Ageas, and the Hong Kong Association of Banks; and the Vice-Presidents of ICBC and the China Life Insurance Group.

The communiqué issued by the Chairman of the business forum included a series of recommendations to the ASEM Leaders Meeting. Michael Ullmer led discussion on these and other points at a joint business and leaders’ breakfast held at the Royal Palace Brussels on Tuesday 5th October. A copy of the AEBF Chairman’s statement can be found here, and is summarised as follows:
- the fundamental importance of co-ordinated policy responses to stabilise financial and commodity markets and recovery
- fiscal consolidation and recovery, combined with efforts to rebalance demand to promote sustainable growth
- the balancing of Asian and European interests and representation within institutions formulating regulatory and supervisory frameworks such as the G20, Financial Stability Board, and Basel Committee
- achieving a level playing field in financial services preventing risks of regulatory arbitrage, yet flexible enough to have regard to divergent market conditions, and to encourage rather than stifle competitiveness and innovation
- promoting further integration and institutional linkages between Asian and European financial markets
- strengthening the legitimacy, credibility and effectiveness of international financial institutions
- the importance of financing SMEs sectors and trade, and to carefully examine the potential for proposed Basel III counter-party risk measures, and the treatment of trade finance for capital requirement, to adversely affect Asia-Europe trade flows
- the importance of market liberalisation, transparent regulation, IP protection, achieving a conclusion to Doha, co-operation in research & development, investment in ICT solutions, effective climate change response and energy security policy.

EABC is grateful to the Department of Prime Minister and Cabinet and the Department of Foreign Affairs and Trade, particularly to the Europe Division and to Ambassador Brendan Nelson and staff of the Australian Embassy Brussels for facilitating EABC’s participation in the Asia-Europe Business Forum

19 November, 2009 Belgium Prime Minister appointed EU’s first President

Leaders of the 27 countries of the European Union unanimously voted on Thursday to appoint Herman van Rompuy, currently the Belgian Prime Minister, as the European Union’s first President. In addition,  Catherine Ashton of Britain, currently the European Commissioner for Trade, was chosen as its High Representative for foreign policy.

These two new jobs are a direct result of the ratification of the Lisbon Treaty, approved by all member states earlier this month.  Baroness Ashton will also act as Vice President of the European Commission, a position which also requires endorsement by the European Parliament. They are expected to take up these new positions on January 1st 2010.

October 27, 2009 EABC Board Member Update

This quarter, we welcomed Ms Carla Zampatti, AM to the board of the EABC.  An esteemed business woman and committed promoter of Australian and European relations, Ms Zampatti brings a great deal of knowledge and experience to the board. 

In November, EABC board member Mr Max Moore-Wilton was elected as the new Chairman of the Airports Council International, a global aviation organisation based in Geneva, Switzerland.  Mr Moore-Wilton has been Chairman of Sydney Airport Corporation since April 2006 having been Chief Executive Officer and Executive Chairman since December 2002.

Also in November, another EABC board member Mr Graham  Bradley AM, was elected President of the Business Council of Australia.   Mr Bradley will continue to serve on our board, providing deep insight into the needs of Australian businesses.