Vancouver, 28 April 2022
–Asia-Pacific business leaders in the APEC Business Advisory Council (ABAC),
meeting this week in Vancouver, affirmed their determination to continue to
work closely together to respond to the challenge of sustaining the region’s
growth trajectory in the face of an increasingly complex, interconnected and
rapidly-changing global environment.
ABAC Chairman for 2022, Supant
Mongkolsuthree, said that a series of grave challenges arising from the
lingering effects of the pandemic and recent events that have caused
disruptions to the global markets and supply chain – triggering inflationary
pressures and threatening food security - have
affected the Asia-Pacific region’s ability to achieve sustainable, inclusive
and resilient growth.
“Responding to these challenges
demand decisive, deliberate action, both to deepen the economic integration of
our region, and to better equip our businesses, including the smallest, to
achieve dynamic and sustainable growth. We will take the opportunity to convey
our views on how this can be achieved to APEC Ministers Responsible for Trade
who will be meeting next month,” said the Chair.
To deepen economic integration,
ABAC has consistently advocated the eventual realization of a Free Trade Area
of the Pacific (FTAAP) as key to achieving this.
“We welcomed APEC’s initiative
for a renewed dialogue on FTAAP”, the Chair said. “We will be proposing to Ministers
that APEC launch five
multi-year joint work programs to develop tangible outcomes on identified
business priorities including digitalization, inclusion, sustainability, trade
and investment, and trade response to the pandemic.”
“We also want to see a stronger,
more relevant World Trade Organization (WTO) and we will call on APEC
Ministers to work together to shape a 12th Ministerial Conference
outcome that enables a strong, credible and relevant WTO, that provides a
secure foundation for the rules-based multilateral trading system, responds
effectively to the pandemic, fosters a robust return to growth, and reflects
evolving business needs and models.”
“ABAC’s priorities have been and
will continue to be focused on creating a more level playing field for micro,
small and medium enterprises (MSMEs) who have been badly affected by the
COVID-19 pandemic. It is also critical that MSMEs develop a long-term approach
to embracing digitalization to enhance resilience and promote innovation and
agility in the face of uncertain market demands and business environments.”
The Chair also said that ABAC supports the
global agenda of sustainability emphasizing “we must build a Net Zero Economy
and promote green recovery pathways, including developing innovative tools for
the transition to a low-carbon economy, drawing on our Climate
Leadership Principles. We should also foster
a sustainable food system that ensures food security and safety through the use
of technologies and by reducing market distortions”.
A cybersecurity symposium held on
the margins of the meeting provided insights on how to
make APEC a cybersecurity leader whilst closing the cybersecurity skills gap.
It looked at establishing platforms and opportunities for cooperation on
cybersecurity across the region, extremely important of course in our digital
age.
The Chair thanked ABAC Canada for
hosting the meeting which demonstrates ABAC’s determination to enable the
resumption of business and cross-border travel and in learning to live with
COVID-19 judging by the large number of on-site attendees of ABAC members.
The Honorable Ravi Kahlon, Minister of Jobs, Economic
Recovery and Innovation of British Columbia delivered the keynote address
during the opening session of the meeting.
_______________________________________________________________________
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 Thailand’s
leadership, ABAC is pursuing a work program under the theme “Embrace. Engage.
Enable” to respond to the challenge of maintaining the economic vitality of the
Asia-Pacific Region and ensure it benefits all.
ABAC 2022 Chair is Supant
Mongkolsuthree and the Co-Chairs are Rachel Taulelei (New Zealand) and TBC
(USA), with five (5) working group chairs, namely: Lam Yi Young, Regional
Economic Integration Working Group (REIWG); Janet De Silva, Digital Working
Group (DWG); Dato Rohana Mahmood, MSME and Inclusiveness Working Group
(MSMEWG); Ning Gaoning, Sustainability Working Group (SWG); and Hiroshi Nakaso,
Finance and Economics Working Group (FEWG).
For further
information please contact:
Mr. Areepong Bhoocha-oom, ABAC Executive Director
2022, Mobile: +668
7005 111, Email: areepongabac@gmail.com
Mr. Antonio Basilio, Director, ABAC Secretariat, Tel: +63 917 849 3351, Email:
abacsec@pfgc.ph
