ABAC strategic alliances

APEC Business Advisory Council (ABAC)

ABAC’s focus for 2021 is on people, place, and prosperity — three elements are essential to creating ideal societies, according to New Zealand Prime Minister Rt. Hon. Jacinda Ardern.

‘People’ is ABAC’s north star 一 access for all to Covid vaccinations, essential goods and food supplies; how small businesses can operate on a level playing field; and how to empower women and indigenous populations to succeed. ‘Place’ is about safeguarding the planet while ‘prosperity’ will push for free and open markets within the region to keep supply chains functioning and trade flowing, as well as resumption of travel to revive the region’s economic growth.

In 1995, Asia-Pacific Economic Cooperation (APEC) leaders established the APEC Business Advisory Council (ABAC), tasked to provide private sector perspective towards achieving free and open trade and investments in the region (Bogor Goals). Ambassador Roberto Romulo of the Philippines served as ABAC’s founding chairman in 1996. ABAC submits yearly to APEC leaders a report that outlines key recommendations focused on trade and investment in goods and services, removing barriers behind, at, and across the border. It engages with ministers, especially those responsible for trade, finance, SME, energy, food security, health, and women, and also participates in APEC committee meetings and in the APEC economies' initiatives.

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Every year, ABAC submits a Report to APEC Leaders which outlines key recommendations focused on trade and investment in goods and services – removing barriers behind the border, at the border and across the border.

ABAC writes to and engages with Ministers, especially those responsible for Trade, Finance, SME, Energy, Food Security, Health, and Women to address urgent challenges. The Council also participates in APEC committee meetings including sub-fora discussions, as well as initiatives of APEC economies.

APEC Leaders, in 1995, established the APEC Business Advisory Council (ABAC) tasked to provide private sector perspective towards achieving free and open trade and investments in the Asia Pacific region (Bogor goals).

The Council had its first meeting and dialogue with the Leaders in 1996, when the Philippines first chaired APEC. Ambassador Roberto Romulo of the Philippines served as ABAC’s founding chairman.

APEC Business Advisory Council (ABAC)

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