06 November 2001
Text: Greenwood Says APEC Helped Strengthen Anti-Terror Coalition
(Also restored confidence to flagging regional economies) (1030)
Speaking before the Senate Committee on Foreign Relations November 6,
C. Lawrence Greenwood said if he were confirmed as the U.S.
Coordinator for Asia-Pacific Economic Cooperation (APEC), he would be
able to continue working "to advance America's interest by creating a
more prosperous and secure world."
Greenwood acknowledged that APEC was primarily focused on free trade
and investment, but he stressed that U.S. political goals were reached
through the forum as well.
"As the first major international meeting after the September 11th
terrorist attacks, the Shanghai APEC Summit on October 21 played a
critical role in helping strengthen the coalition against terrorism
and restore confidence to flagging regional economies," Greenwood
said.
Furthermore, he explained, APEC's promotion of financial market
reforms and pro-competitive regulation have "profound political
implications, for rewarding individuals based on their efforts rather
than political influence, not only yields more economic growth, but
also leads to more political choice."
"Prosperous and democratic trading partners in turn make the United
States more prosperous and secure," Greenwood continued.
Greenwood said of the 25 years he has spent in the U.S. Department of
State's Foreign Service, he has devoted most of the last 16 years to
working on Asia and trade issues.
Following is the text of Greenwood's remarks, as prepared for
delivery:
(begin text)
STATEMENT BY C. LAWRENCE GREENWOOD, JR.
SUBMITTED TO THE U.S. SENATE COMMITTEE ON FOREIGN RELATIONS
NOVEMBER 6, 2001
Mr. Chairman and Members of the Committee: I am honored to appear
before this committee today to seek confirmation of President Bush's
nomination of me as APEC Coordinator with the rank of Ambassador. I am
grateful for the confidence the President and Secretary Powell have
placed in me and, if confirmed, look forward to the opportunity to
continue to work with you and your staff to advance American economic
interests in the Asia-Pacific region.
Mr. Chairman, this hearing could not be more timely. In spite of the
pressures of fighting the war against terrorism, President Bush's bold
decision to go to Shanghai to meet with Asia-Pacific Leaders two weeks
ago was a clear sign of American leadership in the Asia-Pacific
region. It was also a signal of our commitment to the Asia-Pacific
Economic Cooperation (APEC) group and its agenda of free trade and
investment.
As the first major international meeting after the September 11th
terrorist attacks, the Shanghai APEC Summit on October 21 played a
critical role in helping strengthen the coalition against terrorism
and restore confidence to flagging regional economies. APEC Leaders
issued a strong statement condemning the attacks and pledging
coordinated action in a number of specific areas to help apprehend the
perpetrators and prevent further terrorist acts. The statement was
particularly significant for an organization whose highly diverse
members account for more than half of world GDP and one-quarter of the
world's Muslims, more than the Middle East and North Africa combined.
APEC Leaders also helped restore confidence to a shaky global economy
by aggressively calling for the launch of a new trade Round and
strengthening APEC's tools for accelerating the pace of trade and
investment liberalization within the region. I am proud to have played
the role of U.S. sherpa at those meetings.
At the same time the Shanghai meetings were blazing new trails, they
also built on 11 years of solid APEC work that has contributed to the
success of the world's fastest growing region. Thanks in part to
APEC's persistent efforts to promote market-oriented policies, the
benefits of free and open markets are now nearly universally
recognized throughout the region (if not always observed in practice),
and applied tariff levels are among the lowest in the world. APEC is
helping streamline regulations and harmonize standards, with
significant savings for business. Indeed, APEC has an exceptionally
close relationship with business, which both provides input into the
work of APEC and runs many of APEC's programs. APEC is also building
human capacity to assure that the benefits of the global economy are
more widely spread in the region through programs that strengthen
education, support small business, and combat infectious disease.
However, more needs to be done. Regional and world growth is slowing
and the formula for economic success is changing. More market-opening
and reform is needed. There is a particular need to strengthen
financial systems and restructure corporations -- indeed, one of the
region's greatest challenges is the massive reallocation of capital
that economies must undertake in the coming years to create healthy
banks and companies. Mexico, next year's host and the first Latin
American member to chair APEC, has useful lessons in undertaking this
transformation.
With U.S. leadership I am confident that APEC will play an even
greater role than in the past to promote sound policies such as trade
and investment liberalization, financial market reforms, and
pro-competitive regulation, that the region so badly needs. These are
economic policies, but with profound political implications, for
rewarding individuals based on their efforts rather than political
influence, not only yields more economic growth, but also leads to
more political choice. Prosperous and democratic trading partners in
turn make the United States more prosperous and secure.
That is in fact the goal I have worked for during the past 25 years in
the Foreign Service -- to advance America's interest by creating a
more prosperous and secure world. I have served in Asia and Africa,
and in my two tours in the Economic Bureau in the State Department
have negotiated with officials from every continent. I have devoted
the bulk of the last 16 years of my career to Asia, particularly
Japan, where I have had the satisfaction of working on nearly all the
major trade issues between the world's two largest economies over the
past decade-and-a-half. During those years I also had the privilege of
working extensively on APEC matters.
I appreciate this opportunity to exchange views and seek your advice.
I look forward to answering any question you may have. Thank you.
(end text)
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