Yantai, Shandong Province
8 October 1998
Speech by Ambassador Timothy Hannah
Deputy Executive Director
APEC Secretariat

YE Mr Wu Bangguo, Vice Premier of the State Council

YE Mr Li Chuntin, Governor of Shandong Province

YE Mr Chen Bangzhu, Deputy Minister of State Economic and Trade Commission

Firstly, I wish to congratulate the city of Yantai and the Organising Committee for hosting the 2nd SME Technology Exchange and Fair. This city successfully held the 2nd APEC International Trade Fair last year and there is every reason to expect that this Fair will be the same success in terms of new business relationships.

Appreciation is due to the Government of China and in particular to the Yantai Municipal People'’ Government of Shandong Province for the contribution and support you give to APEC.

As you know APEC is a voluntary dialogue of official consultations between 18, soon to be 21, economies of the Asia Pacific region. APEC has a single fundamental aim: to promote regional economic growth – to improve the well being of all our citizens.

To achieve that in today’s global economy, we must reply very much on SMEs. SMEs are the main dynamic force in APEC economies’ production and employment.

Secondly, we recognise the key importance of technology and technology transfer in promoting economic growth.

Thirdly, one of APEC’s three key focus of work is business facilitation and very many APEC activities give importance to business participation.

This initiative by the Yantai Municipal People’s Government of Shandong Province brings together those three elements – SMEs, technology transfer and business support. I am confident that this 2nd APEC SME Technology Exchange and Fair will therefore bring positive results and I wish you every success.

Thank you