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Australia and APEC in 2007.

Article Excerpt
I want to congratulate the Asia Society AustralAsia Centre on a decade of helping to build understanding in Australia of Asian countries--their politics, business and culture.

I particularly want to recognise the contribution Hugh Morgan has made as the Society's Chairman, knowing that he will be stepping back from this role at the end of this month.

My focus tonight is on Australia's large and ambitious agenda this year for APEC. APEC is a vital piece of regional architecture for a rising Australia in a region that will be the cockpit of history in the 21st Century.

The Asia Pacific region is coming of age. Its voice will be increasingly influential in global councils. APEC economies account for more than half of global GDP and nearly hall of world trade.

APEC is also important to our economy and to Australian jobs. Around 70 per cent of Australia's total trade is with these economies, with eight of our top 10 trading partners in APEC. APEC economies also account for roughly two-thirds of all international visitors to Australia.

Australia was very much present at the creation of APEC and both sides of politics have seen it as the region's most important grouping.

APEC began in 1989 under Bob Hawke's leadership, when Australia hosted the first annual meeting of foreign and trade ministers against the backdrop of the final throes of the Cold War. Paul Keating was instrumental in the first annual meeting of APEC leaders, held at Blake Island, near Seattle, in 1993.

It is fair to acknowledge that APEC has not always delivered as quickly or as dramatically as some of its critics would like. Those hankering for some Asian variant of the European Union--replete with pooling of sovereignty and a rulesbased, top-down approach--have been disappointed.

So have those who aspire to a more homogenised, structured community premised on some distinctive set of values.

The sheer diversity and dynamism of the region have thwarted any attempt to impose such order. Regional forums continue to proliferate--ASEAN and APEC have been joined not just by the ASEAN Plus Three but now by the East Asia Summit, of which Australia is a founding member.

Each of these groupings has a slightly different membership, rationale and agenda. Each plays a role in strengthening linkages and building up habits of cooperation in a region where many historical issues remain unresolved and where working together has not always been the norm.

The search for a single overarching construct for the region remains elusive. Based on my experience, this is entirely to be expected.

The Asia Pacific region is not Europe. The geography is different. The history is different. And the issues we face are often different.

What has APEC achieved, and what can it achieve in the future?

In my view, one of APEC's most important contributions is its distinctive regional style and approach to addressing problems.

Much of...

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