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.
During its first meeting of the year in Auckland, New Zealand (Feb. 11-14), 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).
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. The need for greater economic reform was a further point of emphasis. Additionally, APEC Secretariat provided an update to ABAC members on the APEC agenda, including joint work to move towards negotiations for a Free Trade Area of the Asia-Pacific (FTAAP).
Other critical issues were addressed by ABAC working groups, such as the drafting of a Letter to the APEC Ministers Responsible Trade (MRT), whom gathered in Qingdao on 17-18 May, as well as updates on the Asia-Pacific Financial Forum (APFF), the Asia-Pacific Infrastructure Partnership (APIP), ABAC Enablers of Infrastructure Investment Checklist, and Public-Private Partnership on Food Security (PPFS).
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”.
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
- The Fourth ABAC Meeting is scheduled for 4-7 November 2014 in Beijing, China
The APEC-CEO Summit is scheduled for the 8-10 November 2014 in Beijing, China.
Gaoning NING (Mr)
COFCO Fortune Plaza, No. 8 Chao Yang Men South St,
XIA Bing (Mr)
ABAC Executive Director
China Council for the Promotion of International Trade
1, Fuxingmenwai St.
Beijing 100860 China
Tel: +(8610) 8807 5736
Fax: +(8610) 8807 5406
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 (Mr)