Asia Pacific Business Leaders to Address Key Regional Economic Issues

The APEC Business Advisory Council (ABAC) has concluded its Second Meeting for 2007 in Tokyo with key discussions focusing on consideration of steps to advance regional economic integration in Asia Pacific, addressing climate change and the need for enhanced energy security.

"Business leaders from Asia Pacific continue to press for a successful outcome from the Doha trade negotiations, despite frustration with the delayed process and its lost opportunities," said Mark Johnson, Chair of ABAC 2007.

"APEC continues to be the fastest growing part of the world economy, so it is no surprise that regional integration initiatives and measures continue to develop."

"The up-coming report by APEC Senior Officials to APEC Leaders will cover a wide range of near term and longer term initiatives."

"ABAC shares the global concern on the effects of climate change on our communities and businesses. Business will respond to this challenge with innovation, new business practices and capital investment if it has clear settings and market signals from policy makers. We expect climate change will be an important feature of our dialogue with Leaders in September." said Mr Johnson.

"ABAC recognizes that key aspects of improved energy security include conservation and efficiency measures. The experience of Japan in promoting energy efficiencies over many years is a valuable lesson for us to draw on. It demonstrates the importance for business of the right balance in policy and regulatory measures in each economy. Energy security continues to be a major matter for ABAC."

ABAC comprises three senior business representatives from each of the 21 APEC economies and will be meeting again in Sydney in September 2007, during the APEC Leaders Meeting.

ABAC will be meeting directly with APEC Leaders during a dialogue session on 8th September and will address a range of issues that impact on businesses in the region.