Papua New Guinea hosts APEC CEO Summit on cruise ship
Updated 09:29, 19-Nov-2018
By CGTN's Li Tianfu
The eyes of the business world are on Papua New Guinea which is playing host to some of the most influential business leaders on Friday. The 2018 APEC CEO Summit has begun on the Pacific Explorer, one of the three cruise ships that the PNG government has leased for APEC Leaders Week to accommodate delegates.
Prime Minister of Papua New Guinea Peter O'Neill, in welcoming remarks, noted that many APEC economies are facing great challenges. 
The prime minister said small economies like his own country rely on world trade and especially the global rules that govern it. "When the trade rules are broken, the small economies would suffer a lot," he said.
O'Neill called for all countries, no matter how large or small, to follow the rules.
CGTN anchor Tian Wei moderates the opening panel at the 2018 APEC CEO Summit. /CGTN Photo

CGTN anchor Tian Wei moderates the opening panel at the 2018 APEC CEO Summit. /CGTN Photo

Anchor Tian Wei of CGTN, one of the official media partners of the summit, moderated the opening panel discussion which looked at the future of globalization within rising protectionist pressures and anti-globalization sentiment. 
She was joined by Asia Pacific Chairman of PwC Raymund Chao, Deputy Director-General of the WTO Yi Xiaozhun, Regional Vice President for East Asia and the Pacific Region of the World Bank Victoria Kwakwa and CEO of the Federation of Korean Industries Kwon Tae-shin.
Initiated in 1996, the APEC CEO Summit is held ahead of the APEC Leaders' Meeting to provide an opportunity for regional business leaders to engage in discussions with APEC economic leaders, policymakers, academia and other CEOs on issues facing the region.
Chairman of APEC CEO Summit 2018 Isikeli Taureka also gave welcoming remarks.