APEC NEWS RELEASE: Issued by The APEC Business Advisory Council (ABAC) Ha Long, 29 July 2022 – Asia-Pacific business leaders in the APEC Business...
ABAC I Media Release

APEC NEWS RELEASE Issued by
The APEC Business Advisory Council (ABAC)
Embracing challenges, engaging collectively and enabling opportunities are key to Asia-Pacific success, say business leaders
Singapore, 18 February 2022 – Asia-Pacific business leaders in the APEC Business Advisory Council (ABAC), meeting this week in Singapore, affirmed their determination to continue to work closely together in a complex, intertwined and rapidly-changing region.
ABAC Chair for 2022, and Chairman of the Federation of Thai Industries, Supant Mongkolsuthree, explained that ABAC’s theme was “Embrace, Engage and Enable”.
“The business community recognises that this is a time of great disruption, but also presents a great opportunity. We can leverage synergies from engaging collectively, embracing the challenges and enabling our communities, in order to realise the full potential of our region.”
The Chair added that this was a message that ABAC had underscored during a session with APEC Senior Officials. “This approach will take us a long way down the path to creating the open, dynamic, resilient and peaceful region that our Leaders foresaw in the APEC Putrajaya Vision 2040, which will be implemented through the Aotearoa Plan of Action starting this year.”
The Chair said that ABAC had also been honoured that Gan Kim Yong, Singapore’s Minister of Trade and Industry, had opened the ABAC meeting.
Turning to the Council’s priorities, the Chair said that the pandemic remained a central concern. “COVID is still a reality. But 2022 is our chance to embrace the new normal – by safely reopening borders through more equitable access to vaccination and more regionally-coherent approaches for travel, along with efforts to smooth out supply chain disruptions. We can also enable greater productivity and growth through boosting structural reforms.”
The Chair explained that future-proofing the region’s trade architecture was also essential. “APEC’s Leaders have set the goal of a Free Trade Area of the Asia-Pacific. The foundations have been laid – now we need to get building, utilising what we have learned about resilience, sustainability and inclusion throughout the pandemic. We also want to see a stronger, more relevant World Trade Organization emerging from the WTO Ministerial Conference this year.”
The Chair noted that climate change would be another major focus. “We will be drawing on our Climate Leadership Principles from 2021 to help embrace the transition to a low-carbon, green and circular economy in the APEC region,” he said. “We will also contribute to shaping the implementation plan for a sustainable, digitally-enabled and trade-friendly food system under the new APEC Food Security Roadmap.”
Finally, underpinning all of this work would be digital transformation. “We have already held a Digital Trade Symposium and will explore a range of other digital topics this year. Digital technologies can help to turbocharge a green recovery, drive trade expansion and create new opportunities – but we need to create the right enabling environment and infrastructure for that.
“This is particularly critical for micro, small and mid-sized businesses (MSMEs), women and other disadvantaged groups,” the Chair noted. “MSMEs, including women-led firms, make up the lion’s share of our business community and employment, but they have been hit hard by the pandemic. If we can build their digital capabilities and options, we can help unlock their potential. That will make a critical contribution to our overall economic recovery,” the Chair commented.
The Chair said that ABAC had welcomed the recent announcement from the Prime Minister of Thailand that the United States of America would host APEC in 2023 and Peru in 2024, noting that this strong leadership continuity was crucial to APEC’s aspirations for a better future for all.
“We call on APEC to facilitate the safe re-opening of borders to accelerate the much-needed economic recovery of the region, particularly for the MSME sector which have been disproportionately impacted by the restrictions on movement of people.”
“I look forward to working with my ABAC colleagues and others around the region to show that APEC is open for business, and ready for action this year and in the future,” the Chair 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 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 1988 9588, Email: areepongabac@gmail.com
Mr. Antonio Basilio, Director, ABAC Secretariat, Tel: +63 917 849 3351, Email: abacsec@pfgc.ph
REGISTER WITH TRADE WORKS
Register to stay up to date with latest news, as well as saving and discussing articles you’re interested in.
Latest News
Asia-Pacific Business Leaders to APEC Leaders: Speed up economic recovery and regain growth momentum
APEC NEWS RELEASE: Issued by The APEC Business Advisory Council (ABAC) Ha Long, 29 July 2022 – Asia-Pacific business leaders in the APEC Business Advisory Council (ABAC), meeting this week in Ha Long, Viet Nam, expressed deep concern about the unprecedented crises...
TradeWindow: Digital trade provides hope through challenging times
It won’t come as a surprise to many people to hear that we remain in a very challenging situation when it comes to global business. Our exporters are operating in an environment that is difficult to navigate due to continuing uncertainties – the seemingly endless...
TRADE AND CLIMATE POLICIES NEED TO WORK TOGETHER – BUSINESS FORUM
A new report, commissioned by the NZ International Business Forum (NZIBF) and prepared by Adrian Macey, former Climate Change Ambassador and World Trade Organization (WTO) Lead Negotiator, shows that trade policy and actions to address climate change can be...
Trade and Climate Change: State of Play
TRADE AND CLIMATE CHANGE: STATE OF PLAY. A discussion paper prepared for the NZIBF by Adrian Macey, June 2022. Download here.
THE NZ/EU FTA IS LIKE THE CURATE’S EGG
In which we like the good parts of the NZ EU FTA…. Who remembers the curate’s egg? It’s when the nervous Curate, asked by the Bishop, if everything is ok with his boiled egg, replies “It’s good in parts, my Lord”. So too the recently concluded NZ/EU FTA, which has...
ADDRESS TO THE FONTERRA ALUMNI GOVERNANCE DEVELOPMENT WORKSHOP
ADDRESS TO THE FONTERRA ALUMNI GOVERNANCE DEVELOPMENT WORKSHOP AUCKLAND, 29 JUNE 2022 STEPHEN JACOBI EXECUTIVE DIRECTOR NZ INTERNATIONAL BUSINESS FORUM THE GLOBAL GOVERNANCE CHALLENGE Thanks to my friend Janine Smith for inviting me to speak to you today....
NZ EU FTA – A MIXED BAG, SAYS BUSINESS FORUM
Reacting to the overnight conclusion of negotiations for a free trade agreement between New Zealand and the European Union, the NZ International Business Forum (NZIBF), which brings together a cross section of major exporters, said the outcome was mixed in terms of...
NZ EU FTA COMING DOWN TO THE WIRE – HOLD THE LINE, SAYS BUSINESS FORUM
As negotiations accelerate to conclude an ambitious free trade agreement between New Zealand and the European Union, the NZ International Business Forum (NZIBF), representing a cross section of major exporters, urges the Government and its negotiators to hold out for...
WTO BACK IN BUSINESS – INTERNATIONAL BUSINESS FORUM
Media release, 19 June 2022 The NZ International Business Forum (NZIBF) welcomes the outcome of the World Trade Organization (WTO) 12th Ministerial Council meeting in Geneva and congratulates Trade Minister O’Connor and officials. “It’s great to see the WTO back in...
Address to the 50th One Stop Update for the Accountant in Business
ADDRESS TO THE 50TH ONE STOP UPDATE FOR THE ACCOUNTANT IN BUSINESS CHRISTCHURCH, WELLINGTON, AUCKLAND, MAY 2022 STEPHEN JACOBI EXECUTIVE DIRECTOR NZ INTERNATIONAL BUSINESS FORUM ONE STOP GLOBAL ECONOMIC UPDATE Thanks to Brightstar for once again inviting me to...
Remarks by Rachel Taulelei to APEC Ministers Responsible for Trade, 21 May 2022
ABAC NEW ZEALAND REMARKS TO ABAC-MINISTERS RESPONSIBLE FOR TRADE DIALOGUE 21 MAY 2022 RACHEL TAULELEI ABAC NZ Chair, Ministers The Free Trade Area of the Asia Pacific (FTAAP) remains the preeminent economic priority for the Asia-Pacific business community. It...
Deepening ECONOMIC INTEGRATION and EQUIPPING BUSINESS FOR DYNAMIC, INCLUSIVE and SUSTAINABLE GROWTH ARE KEY to ECONOMIC RECOVERY, say business leaders
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...
FROM APEC AND CPTPP TO IPEF – SMALL STEP OR GIANT LEAP?
The US idea of an Indo Pacific Framework (IPEF) continues to gain traction but is not without complication. Aotearoa-New Zealand is a great joiner - from the very beginning of the United Nations to the important economic institutions like the WTO, APEC, CPTPP and...
Remarks to Foreign Affairs, Defence and Trade Committee
NZ INTERNATIONAL BUSINESS FORUM REMARKS TO THE FOREIGN AFFAIRS, DEFENCE AND TRADE COMMITTEE INTERNATIONAL TREATY EXAMINATION OF THE NZ/UK FREE TRADE AGREEMENT 17 MARCH 2022 STEPHEN JACOBI EXECUTIVE DIRECTOR Madam Chair, Members of the Committee Thank you for the...
Submission to the Parliamentary Foreign Affairs, Defence and Trade Committee
INTERNATIONAL TREATY EXAMINATION OF THENEW ZEALAND UNITED KINGDOM FREE TRADE AGREEMENT MARCH 2022 Introduction and Summary 1. This submission is made on behalf of the New Zealand International Business Forum (NZIBF) whose members are listed at Annex A 1 . NZIBF is a...