Asia Pacific Offshore Institute (APOI) Annual Conference
The Registrar of Commercial Activities Mr. Lanston Connor and the newly appointed Deputy Registrar of Commercial Activities Mr. Brent Davis returned to the island over the weekend from attending the Asia Pacific Offshore Institute (APOI) annual conference which was held in Macau during September 25 -27 2002. The conference focused mainly on issues and concerns of the members of the Asia Pacific region and how they are dealing with the initiatives of the OECD. The theme for this year's conference was Strategies for offshore industry in greater china - business development under the current economic and regulatory framework.
The keynote speaker for the conference was Mr. Jeffery Owens (Head of Center for Tax Policy and Administration OECD) who delivered his presentation on the latest developments of the OECD initiatives and their impact on Asian countries. The conference also provided much information on the emerging financial services market in China, which holds great potential for Anguilla and our ACORN system and its capability to use Chinese characters. "We are very excited about the opening up of the Chinese market and we will be monitoring the activities there very closely," stated Mr. Connor.
After the completion of the conference the two senior government officials made courtesy visits to all of Anguilla's offshore agents in Hong Kong. "It is very important to establish a personal relationship with the agents in order to create a higher degree of trust and confidence in each other" explained Mr.Connor. He further stated "In the Asian culture the personal relationship is of paramount importance when doing business and it can make a difference in the level of success one achieves".
The agents were visited mainly to establish personal relationships, obtain feedback on the use and effectiveness of the ACORN system, and to address any issues and concerns they may have. The major issue was the lack of knowledge about Anguillla by their clients and potential clients.
According to Mr. Davis the main problem facing Anguilla in the financial services industry is that the island is unknown. While Anguilla has gain substantial publicity as an up market tourism destination we experience the complete opposite as a financial services center. In comparison with the establish financial centers such as the BVI, Cayman Islands and Bermuda, Anguillla has a huge marketing task ahead in order to become a major player in the financial services industry.
Mr. Connor explained that the government and the private sector must work vigorously and continuously to promote Anguillla in the Asian market as a financial services center and an up market tourism destination. "It is important that the island is known first, in order for potential clients to become comfortable and confident and establish offshore companies with us" he said. Mr. Connor further stated that it is time for another joint government and private sector promotion team to conduct a visit to Hong Kong. Promotional visits are very important for the Asian market as it shows that Anguillians value their patronage and this would translate in increase business in both tourism and financial services.
Further enquiries:
Karen Bermingham, Government of Anguilla Press Office,
Tel: +44 (0) 20 7799 9811
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