Day 2 - 2 April 2016

Day 2

Updated on 1 April 2016
Venue: Shangri-La Hotel, Singapore


Saturday, 2 April 2016
 0800 - 0900 Registration and Morning Tea

 0900 - 0910 Welcome Remarks
Wong Kan Seng

Former Deputy Prime Minister, Republic of Singapore
Chairman of Singapore Forum Advisory Board
Chairman of Ascendas-Singbridge Pte Ltd

 0910 - 0940 Opening Address & Dialogue
Kassym-Jomart Tokayev
Chairman of the Senate of the Parliament
Republic of Kazakhstan

Moderator: Bilahari Kausikan
                    Policy Advisor with the Ministry of Foreign Affairs
                    Former Permanent Secretary of the Ministry of Foreign Affairs
                    Republic of Singapore

 0940 - 1055 Plenary Session 1

New Model of Great Powers Relations: What it Means for Asia?
As a global superpower, the US will continue to have a major role in contributing to a stable world order. However, it no longer exercises virtual control of the Pacific region. It has become increasingly certain that China’s expanding influence in the region comes at the expense of America’s current dominant advantage.

Whether it is the “One Belt, One Road” initiative, the Asian Infrastructure Investment Bank, or the Free Trade Area of the Asia-Pacific, China looks to be playing a dominant role, and will continue to assert itself as a great power in Asia and the Western Pacific. While all the major powers are now seeking a new equilibrium in their relationships with each other and with other countries in the region, the search for a new modus vivendi between China and the US is the most crucial of these adjustments. In the region, ASEAN finds itself in the centre of major power interests and as proxies of major powers at play.

Beijing has commented that “the vast Pacific Ocean has ample space for China and the US” while Washington has said it is trying “to find a new answer to the ancient question of what happens when an established power and a rising power meet.”

  • With differing values and different approaches on major foreign and security policies, how can China and the US work together to ensure security in Asia that is a vital precondition for growth? What is the role of other major powers in the region?
  • What is the impact of China-US relations on the continued growth and development of the region? What are the areas of economic cooperation that can be pursued by China and the US that will have a significant contribution to Asia’s growth?
  • How will ASEAN foster greater economic and security cooperation with China and the US? How should the economic-security nexus be managed to achieve a balanced and win-win partnership for all?


  1. Dr Jeffrey Bader, Senior Fellow, Foreign Policy Studies, The Brookings Institution, and Former Senior Director for Asian Affairs, National Security Council, United States of America
  2. Li Zhaoxing, Former Minister of Foreign Affairs, People’s Republic of China, and President, China Public Diplomacy Association
  3. Dr Raja Mohan, Founding Director, Carnegie India
  4. Prof Satoshi Morimoto, Special Adviser to the Minister of Defence, Former Minister of Defence, Japan, and Professor, Takushoku University
  5. Dr Raden Mohammad Marty Muliana Natalegawa, Former Minister for Foreign Affairs, Republic of Indonesia

Moderator: Dr Hahm Chaibong
                    President, The ASAN Institute for Policy Studies

 1055 - 1110 Tea Break

 1110 - 1225 Breakout Session 1

Opportunity in a Time of Uncertainty
The post-2008 crisis recovery of the global economy remains mediocre and disproportionate. World growth forecasts look hazy, with modest recovery in the US, debts in the Eurozone, high unemployment in emerging and developing economies, and warnings of a full-blown crisis in emerging markets amid China’s cooling economy.

Water and food security remains a priority as global warming takes its toll on the environment.  As energy demand rises across Asia, there is also a growing sense of energy insecurity among major Asian powers. Geopolitical uncertainties such as tensions in the South and East China Seas, and a simmering crisis on the Korean peninsula, continue to threaten regional stability. Technological progress and innovation have also contributed to the erosion of jobs and disrupted traditional models of society, politics and economics.

Across every sector of society, Asia faces challenges that impact its continued growth and prosperity. Political and business leaders will need to be prepared to cope with these complexities and uncertainties especially in a globalised and highly interconnected world.

  • What is the likelihood of these risks occurring? What is the potential loss or liability arising from these risks?
  • What actions can political and business leaders take to cope under these circumstances? How can present policies and structures be enhanced to commensurate with the risks?
  • What kinds of regional and international cooperation would be helpful in alleviating or mitigating these risks? How can all parties work together to ensure the region’s continued growth and development is sustainable amid these uncertainties?


  1. Chew Gek Khim, Executive Chairman, The Straits Trading Company Limited
  2. John Danilovich, Secretary General, International Chamber of Commerce
  3. Yorihiko Kojima, Honorary Chairman, Mitsubishi Corporation
  4. Vinod Kumar, Chairman, CII India Business Forum, and Managing Director and Group Chief Executive Officer, Tata Communications Limited
  5. Dr James Riady, Chief Executive Officer, Lippo Group
  6. Dr Wang Huiyao, President, Center for China and Globalization, and Counsellor, State Council of the People’s Republic of China

Moderator: Chairul Tanjung
                    Founder and Chairman, CT Corp
                    Former Coordinating Minister for Economic Affairs
                    Republic of Indonesia

 1110 - 1225 Breakout Session 2

Impact of Technology on Traditional Finance
Traditional banking and finance is seeing a heightened level of disruption by new financial technology (Fintech) companies that aim to make financial systems more efficient. Having access to funds and customers’ information, as well as being shielded from competition by government regulations, the traditional financial industry is increasingly revealing its vulnerabilities as it comes under siege from new technology.

As Fintech moves into the mainstream, covering a wide range of activities – front-end and back-end – from crowdfunding, algorithmic asset management, thematic investing, predictive modelling, digital currency, to cyber security, there are profit opportunities and higher returns for investors as well as social dividends like financial inclusion of the under-banked and unbanked segments of the region.
  • Facing the onslaught of Fintech companies encroaching into the financial domain, what policy changes should Asian governments undertake? How can the take-up of new financial technology by banks and financial institutions be improved, newer services be introduced, and existing delivery be enhanced?
  • Will banks be able to adapt and adopt a more nimble approach to provide streamlined solutions or are they going to be out-innovated and lose their edge to the slew of tech savvy startups?
  • With an explosion of data potentially set as a source for growth, what challenges and concerns are needed to be overcome in order for data analytics to be impactful in improving people’s standard of living?
  • Fintech can be regarded as a development enabler, providing access to information and funds for all, including individuals and groups who are traditionally shunned or underserved by big businesses. What role can governments and businesses play in this ‘democratisation’ of banking and finance, so that societies can be uplifted? How should Fintech be enhanced such that no one or no region is ‘left behind’?


  1. Gao Hongbing, Vice President, Alibaba Group, and Director, AliResearch
  2. Piyush Gupta, Chief Executive Officer, DBS Group
  3. Ravi Menon, Managing Director, Monetary Authority of Singapore
  4. Nandan Nilekani, Chairman, EkStep, Co-Founder and Former Chief Executive, Infosys, and Former Chairman, Unique Identification Authority of India
  5. Paul Schulte, Editor & Founder, Schulte Research

Moderator: Andrew Sheng
                    Distinguished Fellow of the Asia Global Institute at the University of Hong Kong

 1225 - 1400

Lunch Address & Dialogue
Dr Narongchai Akrasanee

Chairman, MFC Asset Management Plc.
Former Minister of Energy, and Former Minister of Commerce

Moderator: Prof Chan Heng Chee
                    Ambassador-at-Large, Republic of Singapore
                    Chairman of the Lee Kuan Yew Centre for Innovative Cities

 1400 - 1515 Plenary Session 2

Opening Markets Within and Beyond the Region

The implementation of the “One Belt, One Road” initiative is said to involve trade and investment facilitation measures; infrastructure development; cooperation in industrial parks and economic corridors; financial cooperation; and the promotion of people-to-people relations. The initiative has become a priority in Beijing’s foreign policy, and it has taken concrete actions to launch the Asian Infrastructure Investment Bank (AIIB) and set up a US$40 billion Silk Road Fund.

Businesses, especially, would want to capitalise on the opportunities available. There will be greater opportunities in infrastructure development, transport, logistics and supply chain industry, and greater opportunities for private capital participation and financing if countries can achieve harmonisation of standards and procedures, and provide regulatory certainty.

If executed well, the “Belt, Road” initiative would lead to expanded trade and investment flows, greater cooperation, development and integration of the region. On a parallel and complementary track to boost trade and investment, and deepen integration of the region are the Free Trade Area of Asia Pacific (FTAAP), Regional Comprehensive Economic Partnership (RCEP) and the Trans-Pacific Partnership (TPP) agreements.
  • How will China execute its next steps and work towards fulfilling its “Belt, Road” initiative? What areas of regional cooperation in policies and rules, based on good governance and sustainability, are required?
  • What are some of the key projects managed by the AIIB? Are there any specific projects the AIIB can collaborate with the other development banks?
  • With more stringent capital rules imposed on banks and short term orientation of capital markets, how can more private capital be mobilised to finance infrastructure development? What can be done to increase financeable projects?
  • How effective are trade agreements in promoting regional growth and integration? Would politics impede the ratification of TPP? What can businesses expect from RCEP?


  1. Dr Masahiro Kawai, Project Professor, Graduate School of Public Policy, The University of Tokyo
  2. Long Yongtu, Former Secretary General of Boao Forum for Asia, and Former Vice Minister of the Ministry of Commerce, People’s Republic of China
  3. Muhammad Lutfi, Former Minister of Trade, Republic of Indonesia
  4. Tan Sri Dato’ Dr Munir Abdul Majid, Chairman, CIMB ASEAN Research Institute, and Co-Chair, ASEAN Business Advisory Council
  5. Kamal Nath, Member of Parliament (Lok Sabha), Former Minister of Urban Development, Former Minister of Commerce and Industry, and Former Minister of Environment and Forests, India

Moderator: Manu Bhaskaran
                    Founding Director and Chief Executive Officer, Centennial Asia Advisors

 1515 - 1600
Closing Address & Dialogue
Thomas Trikasih Lembong

Minister of Trade
Republic of Indonesia

Moderator: Manu Bhaskaran
                    Founding Director and Chief Executive Officer, Centennial Asia Advisors

 1600 - 1605
Closing Remarks
Wong Kan Seng


Programme for Day 1
Past Events 2016

"The idea that the solutions lie in monetary policy is a real distraction from the true task of governments – to form a consensus on the priorities for the future, and to move on in tackling the structural issues to get there."

Tharman Shanmugaratnam
Deputy Prime Minister &
Coordinating Minister for Economic and Social Policies
Republic of Singapore

"For Central Asian states, it is vitally important to find ways to combine trade and economic strategies of the leading powers. The synergy... will enable the region to offer an efficient and balanced model of global economic development to the world."

Kassym-Jomart Tokayev
Chairman of the Senate of the Parliament
Republic of Kazakhstan

“One of the major challenges that the world economy is facing today is shrinking US dollar liquidity all around the world. The most natural solution for this retreating dollar liquidity would be an incoming rush of renminbi liquidity."

Thomas Trikasih Lembong
Minister of Trade
Republic of Indonesia

“I would like to push a particular scheme, what I call ASEAN Access – Internet access... I go anywhere in ASEAN, I want to be able to use my SIM and I want to subscribe to any SIM from anywhere, very much like the ASEAN Free Trade Agreement (AFTA)."

Dr Narongchai Akrasanee
Chairman, MFC Asset Managment Plc., Former Minister of Energy, Former Minister of Commerce, Thailand

“We believe, in the future, it is not ‘free’ trade that we are looking for, but ‘fair’ trade that we are seeking. Free trade [should] mean fair trade from global powers. We have to talk about global prosperity."

Muhammad Lutfi
Former Minister of Trade
Republic of Indonesia

"First, we need to take a differentiated approach to different technologies and their applications… Second, we need to adopt a risk-based approach to Fintech… Third and last, I think we need to actively promote the Fintech ecosystem..."

Ravi Menon
Managing Director
Monetary Authority of Singapore

“The East Asia Summit already brings together the ASEAN ten, and the key partners of this region... I would like to propose that they organise themselves to a Peace and Security Council of the East Asia Summit..."

Dr Raden Mohammad Marty Muliana Natalegawa
Former Minister for Foreign Affairs
Republic of Indonesia

“Chinese outbound investment is greater than inward investment... Tourism is also growing very fast. China last year has over 100 million people going to different countries; they spent US$160 billion, larger than Chinese outbound investment in the world."

Dr Wang Huiyao
President, Center for China and Globalization
Counsellor, State Council of the People’s Republic of China
Advisory Board   Speakers   Programme

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