Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Second State Legislature

Regular Session of 2003

State of Hawaii

Sir:

Your Committee on International Affairs, to which was referred H.C.R. No. 35 entitled:

begs leave to report as follows:

The purpose of this concurrent resolution is to support the Pacific Basin Economic Council (PBEC) and urge it to maintain its headquarters here in Hawaii.

The Department of Business, Economic Development, and Tourism, PBEC, and a member of the PBEC testified in support of this concurrent resolution.

PBEC is an association of senior business leaders from 1,100 companies in 20 different areas throughout the Pacific Basin region. In 1992, PBEC moved its headquarters from the mainland to Hawaii. PBEC is currently considering moving its headquarters to Asia.

Your Committee believes, however, that Hawaii is an ideal location to conduct international business discussions, transactions, and conferences. Your Committee further believes that PBEC's presence in Hawaii will further reinforce the State's status as the center of international business activity.

As affirmed by the record of votes of the members of your Committee on International Affairs that is attached to this report, your Committee concurs with the intent and purpose of H.C.R. No. 35 and recommends its adoption.