Remarks to The Business Advisory Council of South Eastern Europe

Muhtar Kent, Chairman and Chief Executive Officer, The Coca-Cola Company
Washington, DC
April 14, 2010

As prepared for delivery

Ladies and gentlemen -- It's truly an honor for The Coca-Cola Company to host such a distinguished group tonight. And it's wonderful to see so many old friends and new friends with us here at The Kennedy Center.

I have the privilege of chairing the Corporate Fund Board for the Kennedy Center and have a great affinity for this incredible institution and its namesake, President John F. Kennedy. President Kennedy was a man who understood the strategic importance of the Balkans and Southeastern Europe to global stability and harmony. He visited the region, understood its history, and saw potential in its future.

Earlier in my career, I had the good fortune being part of the founding of the Business Advisory Council of South Eastern Europe. I was in the company of such great leaders and driving forces as U.S. Ambassador Richard Schifter, former Austrian Vice Chancellor Erhard Busek, and businessmen Costa Carras of Greece, and Rahmi Koc of Turkey. (Rahmi, as some of you may know, is recovering from major surgery on this hip, and we wish him a speedy recovery.)

The early days of the Business Advisory Council were, of course, challenging and dynamic times. U.S. Under-Secretary of State Richard Holbrooke had just negotiated a historic peace agreement at Dayton. This, combined with Secretary Albright's leadership, formed the foundation for the diplomatic communities to build a lasting peace for the region.

But this leadership also knew that sustainable peace was going to require more than just a political solution. Equally important were economic and trade development solutions. Indeed, when trade crosses borders, armies typically don't.

I personally saw this philosophy in action as I traveled the region helping open Coca-Cola bottling operations in those heady years following the fall of the Berlin Wall. There was such great promise. Such incredible thirst for entrepreneurship and economic development. Such a yearning for path forward for a better quality of life for millions of people who had been denied basic human freedoms for over half a century.

As we all know, with economic empowerment comes human empowerment. Such has been the guiding philosophy of the Business Advisory Council for the past 15 years. I am pleased to see that great progress is being made in the region. Trade, investment and innovation have been on the rise.

For us at Coca-Cola, South Eastern Europe today is undeniably one of the greatest sources of innovation and growth for our business anywhere in the world. The energy and creativity of the region is palpable.

But we all know that many serious challenges still exist. The global economic crisis of the past two years hit the region particularly hard. The debt crisis in Greece has added to those worries. There is still too much bureaucracy and lack of transparency to attract the level of investment and trade needed to bring about long-term sustainable growth. The rule of law is still an issue in many areas.

But that said, there are many, many committed people both in the region and here in the U.S. who believe in the future of South Eastern Europe. This week's activities in Washington prove just how much American and European energy there is for continued development, investment and aid for the region. Mostly, there is a vision for South Eastern Europe that this very group has been influential in promoting and developing.

On behalf of everyone from The Coca-Cola Company, let me just say that we salute and support the great work being done by the Business Advisory Council For South Eastern Europe. And we look forward to continued progress and partnership in the years ahead. Thank you.

(Introduction to Secretary Albright)

I spoke earlier about the visionary work being done by the Business Advisory Council. On a global scale, there is no one more visionary in terms of what it will take to bring about lasting peace, development and prosperity than our special guest tonight.

Like many of you, I have had the wonderful privilege of knowing Secretary Albright for quite some time and working with her on several important initiatives for Coca-Cola. Her wisdom and counsel have been invaluable to The Coca-Cola Company around the world, and to me, personally. I know you, too, will benefit from her insight as you continue this most important work of advancing the noble goals of the Business Advisory Council.

After her remarks, please feel free to ask questions as I know the Secretary would like to hear what's on your mind as well.

Ladies and gentlemen, please join me in welcoming Secretary Albright.