A BILL FOR AN ACT

Section 1. The legislature finds that the State of Hawaii will be the host for the thirty-fifth International General Meeting of the Pacific Basin Economic Council in 2002. The Pacific Basin Economic Council is comprised of nineteen member countries: Australia, Canada, Chile, People’s Republic of China, Colombia, Ecuador, Hong Kong China, Indonesia, Japan, Republic of Korea, Malaysia, Mexico, New Zealand, Peru, Republic of the Philippines, Russia, Chinese Taipei, Thailand, and the United States.

The thirty-third International General Meeting was held in Honolulu from March 17 through March 22, 2000. More than one thousand people and delegates from all member countries attended the meeting. Participating in the meeting were business leaders from the entire Pacific Basin, including Mr. Gary Tooker, Chairman Emeritus of Motorola, Inc.; Mr. Yoshihide Menukuni, Chairman Honda Motor Company; Mr. S.R. Cho, Chairman, Hyosung Corporation; and Mr. Haroen Al Rasjid, Chairman PT Caltex Pacific, Indonesia.

Government leaders who participated in the meeting included United States Trade Representative Charlene Barshefsky; Donna Tanoue, Chairman of the Federal Deposit Insurance Corporation; Mr. Tadao Chino, President of the Asian Development Bank; Thomas Foley, United States Ambassador to Japan; and former President of Ecuador His Excellency Sixto Duran-Ballen.

The purpose of this Act is to provide funding to host the thirty-fifth International General Meeting of the Pacific Basin Economic Council in Hawaii in 2002.

SECTION 3. The sum appropriated shall be expended by the department of business, economic development, and tourism for the purposes of this Act.

SECTION 4. This Act shall take effect on July 1, 2001.