14 November 2023 - This week in San Francisco, USA,
ABAC and ASEAN-BAC pledged to work collaboratively to optimize joint efforts in
research, advocacy, and program development and implementation in support of
common goals in the digital economy. Businesses in the APEC and ASEAN regions
recognize the criticality of a coherent approach to the major challenges facing
our people and region. The initial scope of the collaboration, outlined in an MoU,
would be focused on the digital economy, where fragmentation threatens economic
growth and shared prosperity. This initial phase will serve as a launchpad that
will enable businesses in the region to partner with government and co-create
solutions to some of the toughest cross-border challenges such as climate
change; energy and food security; as well as trade and investment.
“Our rapidly evolving digital economy has ushered in a
new era of unparalleled convenience and efficiency by empowering people and
businesses with unprecedented flexibility and speed to innovate, collaborate,
and catalyze greater societal well-being,” said ABAC 2023 Chair and Chairman
and CEO of East West Bank Dominic Ng. “We are more effective when we work
together, and this announcement today is another step forward in ABAC’s and
ASEAN’s shared mission to equip businesses of all sizes with the transformational
tools and technologies they need to better compete worldwide.”
At ABAC II, hosted in Brunei from April 27-30, 2023,
guest speaker and ASEAN-BAC Chair Arsjad Rasjid invited closer collaboration
between the two business advisory councils. He noted the opportunities for
synergy between ABAC and ASEAN-BAC across five focus pillars of digital
transformation, sustainable development, health resilience, food security, and
trade & investment facilitation.
ABAC’s Digital and Innovation Working Group (DIWG),
and its Chair Jan De Silva, led the process to establish an initial collaborative
structure through an ABAC and ASEAN-BAC MoU. The focus of work under the MoU
will align with the DIWG’s priorities to empower people and businesses to
participate fully and securely in the digital economy, advance alignment on
digital economy governance, and enable tech adoption to facilitate trade and
sustainability.
ASEAN continues to play an integral role in APEC, with
seven APEC member economies part of the regional block. ASEAN-BAC Alternate Chair
Bernardino Moningka Vega welcomed the signing, saying, “We are optimistic that
this collaboration between ABAC and ASEAN-BAC will create stronger regional
integration through joint programs and initiatives.”
Ms De Silva expressed her gratitude to the
Chairs of both Councils, highlighting the value of deepening collaboration and engagement
between ABAC and ASEAN-BAC.
“While the digital economy is borderless, enabling regulations and trade
agreements are not. That’s why ABAC’s
Digital and Innovation Working Group is pleased to partner and collaborate with
ASEAN-BAC to promote the enabling conditions for all member economies and
communities to unlock their potential and participation,” said Ms De Silva.
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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 USA’s leadership,
ABAC is pursuing a work program under the theme “Equity. Sustainability.
Opportunity.” to respond to the challenge of maintaining the economic vitality
of the Asia-Pacific Region and ensure it benefits all.
ABAC 2023 Chair is Dominic Ng (USA) and the
Co-Chairs are Kriengkrai Thiennukul (Thailand) and Julia Torreblanca (Peru),
with three (3) working group chairs, namely: Anna Curzon, Economic Integration
Working Group (EIWG); Ning Gaoning, Sustainable Growth Working Group (SGWG);
and Janet De Silva, Digital and Innovation Working Group (DIWG); and two (2)
Task Force Chairs, namely: Hafimi Abdul Haadii, Inclusion Task Force (ITF); and
Hiroshi Nakaso, Finance Task Force (FTF).
The ASEAN Business Advisory
Council (ASEAN-BAC) was established by the ASEAN Heads of State and Government
(HOSGs) at the 7th ASEAN Summit in November 2001 in Bandar Seri Begawan, Brunei
Darussalam. Launched in April 2003, ASEAN-BAC was set up with the mandate to
provide private sector feedback and guidance to boost ASEAN’s efforts towards
economic integration.
For further
information please contact:
Mr. Antonio Basilio,
Director, ABAC Secretariat Mobile:
Mr. Gil Gonzales, Executive
Director, ASEAN-BAC Secretariat Mobile:
