The Asia-Pacific Economic Cooperation (APEC) Business Summit opened in Sydney Opera House on the afternoon of September 6, 2007, bringing together APEC economic leaders and people from the business communities in Asia-Pacific to discuss such issues as trade, economic integration and climate change.

Addressing the open ceremony, Australian PM John Howard said that the strong economic growth in Asia-Pacific in recent years has lifted millions of people out of poverty. However the region still faces challenges brought about by economic globalization. APEC economic leaders hope to take this opportunity to share experiences and opinions with the business communities on how to cope with those challenges.

Talking about China's development, he noted that it is one of the most important events in the world since last century. China's development brings opportunities to Asia-Pacific and the world at large and will continue to exert a big influence on the world.

Five themes will be discussed at the summit, including challenges and opportunities faced by Asia-Pacific, Doha round of talks, human capital and innovation in Asia-Pacific, energy and climate change and risk-management capacity of the regional economy.

According to the organizer, during the two-day summit, APEC economic leaders who will deliver keynote speech include those from the US, Canada, Chile and Peru. Director-General of the World Trade Organization Pascal Lamy will also join the discussions at the summit.

The APEC CEO Summit has been organized annually along with the APEC Economic Leaders' Meeting since 1996. It offers a major platform for the dialogue between APEC economic leaders and the business communities. Australia, the summit's organizer, changed the CEO Summit to Business Summit this year and downsized the number of business delegates so as to make the dialogue more effective.