27th Parliamentary-Intelligence Security Forum – Keynote Remarks

Senator Bill Hagerty emphasized that the Indo-Pacific is the most strategically significant region in the world, representing roughly 60% of the global population, 50% of global economic activity, and a substantial share of global growth. However, he noted that the region faces mounting challenges, particularly from China’s increasingly aggressive posture and heightened tensions involving North Korea. These dynamics, he stressed, make U.S. alliances with Japan, South Korea, Australia, New Zealand, and India more critical than ever.

Drawing from his experience as U.S. Ambassador to Japan, Hagerty shared the example of the Subic Bay shipyard in the Philippines. When Chinese military-affiliated entities attempted to acquire the bankrupt facility, he coordinated with U.S. and Japanese partners to prevent the purchase. Through joint economic action involving American and Japanese stakeholders, the asset was secured and is now operated in partnership with regional allies, supporting maintenance for U.S., Japanese, and South Korean vessels. He presented this as a successful model of economic cooperation reinforcing national security.

Sen.Bill concluded by underscoring the close link between economic security and national security. He encouraged deeper collaboration in trade, investment, and technology across the Indo-Pacific, arguing that stronger private sector engagement and allied coordination will be essential to safeguarding regional stability and global prosperity.