APEC Business Delegation to Consult and Coordinate with European Business to Advance WTO

Business leaders from APEC have re-affirmed in a meeting in Singapore on 22-25 January of the APEC Business Advisory Council (ABAC) the commitment of APEC Leaders in Busan last November to press for a strong outcome from the Doha Round trade negotiations in the WTO.

"A vital concern for regional business is keeping the pressure on negotiators to ensure a successful outcome to the WTO negotiations", said ABAC 2006 Chair Hoang Van Dung, First Vice Chairman & Executive Vice President of the Vietnam Chamber of Commerce and Industry.

ABAC has announced that a delegation from ABAC will travel to Geneva in April to build support for the successful resolution of the Doha Development Agenda.

Dung said "We believe that our business leaders, who represent a region that constitutes 70% of the world's economic growth since the inception of APEC, will attract serious attention from the World Trade Organization."

"We plan to meet with CEOs from major European companies and from European business associations to draw out what we believe is a growing support base for multilateral liberalization in trade in goods and services and investment", added Dung. "We hope also to meet with representatives from Brazil and India in Geneva to discuss ways to secure a strong outcome in the WTO negotiations."

ABAC members also considered, in this first ABAC meeting of 2006, other vital business concerns, such as energy prices, strengthening regional financial markets and ameliorating volatile capital flows, and strengthening intellectual property right protections. During the year, they will meet with and advise APEC Ministers and develop recommendations that they will present to APEC Leaders at their annual meeting, which this year will be held in Ha Noi, Viet Nam in November.