APEC NEWS RELEASE: Issued by The APEC Business Advisory Council (ABAC) Ha Long, 29 July 2022 – Asia-Pacific business leaders in the APEC Business...
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 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 Asia-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.
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...
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...
BUSINESS FORUM COMMENDS RUSSIA SANCTIONS LEGISLATION
The NZ International Business Forum (NZIBF) has commended Parliament’s bipartisan Russia Sanctions legislation, targeting those involved in the invasion of Ukraine. “Tough times call for tough measures and this legislation is an appropriate response from New Zealand...