The APEC Business Advisory Council contributed significantly to advance important APEC initiatives in 2013, such as the completion of a detailed roadmap towards regional food security, drawn by the newly-created APEC Policy Partnership for Food Security (PPFS) and the ministerial endorsement of the Asia Pacific Financial Forum (APFF), a regional platform for multi-stakeholder collaboration to help accelerate the development of integrated financial markets.
In its 2013 Letter and Report to Leaders, ABAC called on APEC to continue working on a more ambitious agenda on trade, investment and services liberalization. ABAC also highlighted the need for major infrastructure investment across APEC to secure economic growth and regional integration and developed an infrastructure investment checklist designed to help governments determine the extent to which their economies facilitate infrastructure investment. To facilitate smoother trading of goods, ABAC provided key recommendations to improve regulatory coherence such as domestic regulatory reforms, and urged APEC to adopt global product data standards to address supply chain connectivity and complexity challenges noted in the region.
Fourth ABAC Meeting
ABAC will hold its next meeting in Beijing on 5-8 November 2014, where members will be briefed on the outcomes of the Third APEC Senior Officials Meeting (SOM3) and related meetings held on 6-21 August 2014. Additionally, ABAC members will work to define the themes and priorities for ABAC in 2015, and will review important initiatives such as the University of Southern California Marshall School of Business research project on impediments to foreign direct investment in services in the region.
ABAC Members will also finalize the preparations for the ABAC Dialogue with APEC Leaders on 10 November 2014. At the Dialogue with Leaders, ABAC will present its Report to APEC Economic Leaders, which contains a set of recommendations on regional economic integration; infrastructure and connectivity; small, medium and micro-enterprises and entrepreneurship; sustainable development; finance and economics, among other topics.
Third ABAC Meeting
The third ABAC meeting in Seattle, USA on 7-10 July was preceded by the 2nd Asia-Pacific Financial Forum (APFF) Symposium on 7 July which was organized around the theme "Building Integrated Financial Systems to Support the Growth of APEC’s Real Economy."
During the third ABAC meetings, members reviewed and approved the text for the Draft ABAC Letter and Report to APEC Economic Leaders. ABAC urged APEC to intensify work to realize the Free Trade Area of the Asia-Pacific (FTAAP) and called for a roadmap to achieve this goal.
An APEC China CEO Forum followed on 10-11 July. The Forum sought to promote business and economic communications between Chinese business leaders, officials and other stakeholders in China.
Second ABAC Meeting
From 4-7 May, ABAC held its second meeting of the year in Santiago de Chile. During the plenary, ABAC members heard an analysis of the regional economic outlook, how APEC can help the World Trade Organization reduce trade barriers and identified pathways to a Free Trade Area of the Asia-Pacific to improve market access and export growth.
As part of the meetings, Chilean President Michelle Bachelet addressed ABAC members under the theme "The Pacific-Atlantic Dialogue and the Trade & Investment Opportunities in Latin America."
First ABAC Meeting
During its first meeting of the year in Auckland, New Zealand on 11-14 February, ABAC adopted its Work Plan for 2014, which identified regional economic integration as the overarching framework. In 2014, the work of ABAC will focus on strengthening connectivity and infrastructure development in addition to promoting realization of a Free Trade Area of the Asia-Pacific (FTAAP).
For more information on ABAC's work: https://www.abaconline.org
ABAC meetings in 2014:
- The First ABAC Meeting was held on 11-14 February 2014 in Auckland, New Zealand (News Release)
- The Second ABAC Meeting was held on 4-7 May 2014 in Santiago, Chile (News Release)
- The Third ABAC Meeting is scheduled for 7-12 July 2014 in Seattle, USA (News Release)
- The Fourth ABAC Meeting is scheduled for 5-8 November 2014 in Beijing, China
The APEC-CEO Summit is scheduled for the 9-10 November 2014 in Beijing, China.
Doris MAGSAYSAY (Ms)
President & CEO
A. Magsaysay Inc.
Magsaysay Building, 520 T.M. Kalaw Street,
Manila 1000 Philippines
Tel: +632 521 0660
Fax: +632 522 2568
Catherine MACEDA (Ms)
ABAC Executive Director
AIM Conference Centre
Benavides Street, Legaspi Village
Makati City 1260 Philippines
Tel: +(632) 720 2100 loc. 2606
Antonio BASILIO (Mr)
32/F. Zuellig Building
Makati Avenue Corner Paseo de Roxas
Makati City, 1225 Philippines
Tel: +63 2 843 6536
+63 2 845 4564
Fax: +63 2 845 4832
Alvaro CASTRO ESPINOSA (Mr)