Wellington,
New Zealand, 10 November 2021 - Business leaders from the APEC Business
Advisory Council (ABAC), meeting virtually ahead of the annual APEC Economic
Leaders’ summit, affirmed that a collective approach which put people at the
heart of the Asia-Pacific agenda was needed to overcome current challenges.
“The
challenges we face today – whether the pandemic recovery, trade, climate
change, or inequality – show that a prosperous, peaceful and resilient future
for all can only be achieved by all economies working together,” said ABAC
Chair Rachel Taulelei.
“It’s
critical too that people’s needs must to be at the forefront of everything we
do –inclusion cannot be achieved in isolation from sustainability and economic
growth,” said Ms Taulelei. “These
elements are all interconnected and mutually supportive.”
The Chair
noted that these messages resonated well with presentations at ABAC’s fourth
and final meeting for 2021. The agenda
included keynote remarks by the New Zealand Minister of Foreign Affairs, Hon.
Nanaia Mahuta, a discussion on the future of the region with the former New
Zealand Prime Minister, Rt. Hon. Helen Clark, insights on the economic outlook
from Dr Petya Koeva Brooks, the Deputy Director of the IMF, and briefings from
the outgoing and incoming APEC SOM Chairs.
Ms Taulelei
noted that ABAC’s annual Report, elaborated under the ‘People, Place and
Prosperity’, or ‘T?ngata, Taiao me te Taurikura’ – would serve as a reference point for ABAC’s annual
Dialogue with APEC Leaders, to be held on 12 November.
“Our Dialogue
is an opportunity for us to discuss directly with Leaders themselves the
recommendations contained in our report.
On the key issue of pandemic recovery we make clear our view that
vaccination will be key to overcoming the health crisis, enabling us to reopen
borders safely and seamlessly, and also kickstarting economic growth.
“Mindful of
the COP26 meeting currently taking place, we draw attention to ABAC’s Climate
Leadership Principles for Business and our proposal for APEC to adopt a
framework for trade and investment in renewable energy. These initiatives are both vital to move to a
lower carbon future and to safeguard to sustainability of the planet.”
“Earlier in
the year we issued a detailed statement of support for the World Trade
Organisation (WTO). We have now also
written to the Chair of the forthcoming WTO Ministerial Conference to emphasise
the importance of taking ambitious and far-reaching decisions that will
strengthen the organisation”.
“Inequality
has been heightened during the pandemic.
We are therefore advocating for capacity-building and structural reform
which are urgently needed to empower smaller businesses, women and Indigenous
communities”.
Ms Taulelei
added that the pandemic had also shown the urgent need to equip the region
better for the digital age.
“We need to
upgrade the digital skills of smaller businesses and individuals, invest in
infrastructure and work towards enabling more seamless, interoperable digital
trade,” she said.
Ms Taulelei
said that ABAC welcomed the development of a detailed Implementation Plan for
APEC’s Putrajaya Vision 2040, and congratulated New Zealand for its leadership
of this important work.
“The
ambitious goals in the Vision are exactly what our region needs, but our
communities and businesses cannot afford to wait twenty more years to seem them
realised. To address the region’s
challenges head on we encourage APEC economies to put the Implementation Plan
into action immediately,” she concluded.
_______________________________________________________________________
APEC Member Economies:
Australia; Brunei Darussalam; Canada; Chile; China; Hong Kong, China;
Indonesia; Japan; Korea; Malaysia; Mexico; New Zealand; Papua New Guinea; Peru;
Philippines; Russia; Singapore; Chinese Taipei; Thailand; United States of
America; and Viet Nam.
ABAC was created by APEC
Leaders in 1995 to be the primary voice of business in APEC. Each economy has
three members who are appointed by their respective Leaders. They meet four
times a year in preparation for the presentation of their recommendations to
the Leaders in a dialogue that is a key event in the annual Leaders
Meeting.
Under New Zealand’s leadership, ABAC is pursuing a
work program under the theme “People, Place and Prosperity” to respond to the
challenge of maintaining the economic vitality of the Asia-Pacific Region and
ensure it benefits all.
ABAC 2021 Chair is Rachel Taulelei and the
Co-Chairs are Dato Rohana Mahmood (Malaysia) and Supant Mongkolsuthree
(Thailand), with five (5) working group chairs, namely: Ho Meng Kit, Regional
Economic Integration Working Group (REIWG); Ning Gaoning, Sustainability
Working Group (SWG); Julia Torreblanca, Inclusion Working Group (IWG); Janet De
Silva, Digital Working Group (DWG); and Robert Milliner, Economy Working Group
(EWG).
For further information please contact:
Mr. Stephen Jacobi, ABAC Executive Director
2021, Mobile: +64 29 472 5502, Email:
stephen@jacobi.co.nz
Mr. Antonio Basilio, Director, ABAC Secretariat, Mobile: + 63 917 849 3351,
Email: abacsec@pfgc.ph
