LISBON 1992 The Annual Meeting of the Trilateral Commission

Last updated 17 October, 1996.

The new Portuguese group proposed in 1988 by António Vasco de Mello, including Francisco Pinto Balsemão, Ilídio Pinho, Jorge Braga de Macedo and Rui Mateus, organized the candidacy to the Plenary Meeting in Lisbon, 25-27 April 1992. The group benefited from the help of António Mexia, who had just joined Banco Essi after promoting foreign investment into Portugal from 1987 to 1990. The opening session on developments in the host country and its international implications has a direct bearing on today's debate about the future of trilateralism. Jorge Braga de Macedo and João de Menezes Ferreira, who since joined ML&GT, were asked to present the host country. Both had moved from Brussels to run for Parliament in the Oporto constituency in October 1991, both had been elected, one was in government and the other in opposition (Socialist). One, who was then Chairing the Community's Council of Ministers (Ecofin), cited the Portuguese proverb "slowly we go far" to justify Portugal’s preference for sustained structural reforms. Indeed over the last 10 years, successive governments have been attempted to create a gradual but irreversible regime change in the direction of prosperity and justice. The other cautioned that much remains to be done on both counts and that the success was not due to the government alone. Eduardo Costa, who returned to establish Banco Finantia after many years at the World Bank, also agreed that Portugal had become a sucessful democracy and most participants felt that Portugal’s successful democracy could be a lesson for other countries outside the core of trilateral regions, and even more so for non-trilateral countries in the east and the south.

There was also a session on Africa. Francisco Mantero, who since joined Pleiade and became President of ELO (an institution in whose establishment CSE was actively involved), reported on the Charter of Principles whose observance the European private sector deems essential for sustained African economic and social development. The Charter, which remains a basic document for business operation in the tropics, covers government macroeconomic policy, commercial policy, tax policy, and exchange regulations. It stresses adequate infrastructures, public administration and legislation, together with the importance of clear and attractive foreign investment codes and of the proper functioning of local courts.

Participants in the meeting were aware that the geography of trilateralism was already changing. Almost 5 years later, change has spread to all other continents. Can encouragement be provided to Latin America, Eastern Europe, Asia Pacific and Africa to espouse the same values by enlarging the club - or will it have a perverse effect? This issue is to be discussed at the 1997 Plenary Meeting in Tokyo. The message remains the same as in Lisbon, but its impact will hopefully be deeper and wider.

Until Lisbon 1992, and due to the very special economic and political circumstances of the Portuguese revolution, the national group was exempted from the annual membership dues to the European office and the support of its activities was up to individual members. Afterwards, it became clear that sponsoring the group required raising the awareness of Portuguese business about the inevitability of globalization. Otherwise the very idea of managing interdependence would not be easy to grasp, let alone to implement at national level. This led to the creation in 1996 of Forum Portugal Global.

P.S. An earlier version was presented at the first meeting of Forum Portugal Global, on 17 September, 1996. It was also discussed at the Paris office on 27 September. Nevertheless, I remain responsible for the text. Send questions or comments to Jorge Braga de Macedo.