ALEX THURSBY, the CEO for ANZ Bank Asia Pacific, Europe and America said on his arrival in Nuku'alofa on Thursday, February 17 that for the Pacific to increase its economic development it should "capitalize on its proximity to Asia and the growing connections it has with the region."

Alex is on a six nation Pacific tour, accompanied by seven members of his leadership team.

He pointed out that Tonga's imports from China grew from USD$1.2 million to around USD$10 million in the past decade, and the trend is replicated throughout the Pacific, where the imports from China into the region passed USD$1 bilion for the first time in 2010.

The exports from the Pacific to China has also went up by 77% during the first 11months of 2010, compared to 2009, and it has been estimated that it will reach a record of US$1.2 billion, more than eight times the amount in 2001. Imports from China into the region has passed USD$1 bilion for the first time in 2010.

Alex said that during the next five years, the emerging markets of Asia "are expected to account for more than 50% of global economic growth and Asia, particularly China will be the most significant driver of World growth."

Meanwhile the ANZ Bank has big plans for its Pacific operation this year. "We intend to introduce a faster, lower cost way for people to remit money back to the Pacific, we'll launch a new level of service for our affluent customers and we'll continue to explore how we can use mobile phones to improve banking services for people living in remote areas."

The ANZ employs more than 2000 people and operates 60 branches in 12 Pacific countries.

On this Pacific tour, Alex and his team will also visit Timor-Leste, Indonesia, Guam, Vanuatu and the Cook Islands.