PECC expresses sincere condolences to the family of Dr. Jeffrey L.S. Koo, former chair of CTPECC. Dr. Koo will be fondly remembered by members of PECC for his dedication to the promotion of cooperation and understanding in the Asia-Pacific. 

As a pioneer of the Asia-Pacific cooperation process, Dr. Koo took over the chairmanship of CTPECC in 1994 and presided over the Finance Committee of PECC for many years. In addition to his support for PECC's evolution and expansion, he had been a thoughtful contributor to setting a regional agenda for cooperation. In light of the Asian Financial Crisis of 1997-1998, Dr. Koo had been advocating and promoting the development of capital markets in the region, especially the development of local currency bond markets to enable the region's corporate sector to avoid the double mismatch in currencies and tenure that had proved so damaging during that period. He was a staunch advocate of public-private sector cooperation and at the PECC General Meeting held in Brunei in 2003 he urged:

"Any effort to strengthen and develop financial markets will only succeed if it is able to make market players move in the right direction. This is why government and business should work closely together in these efforts. PECC, of course, is an ideal forum for such cooperation, and should receive greater support from governments and the business community."