APEC Business Advisory Council released its annual report to APEC Economic Leaders on the topic “Building Asia-Pacific Community Mapping Long-Term Prosperity”

The APEC Business Advisory Council (ABAC) annual report addresses a wide range of issues in the areas of regional economic integration, infrastructure and connectivity, SMEs, sustainable development and finance. The key messages of the report include: trade and investment liberalization, building effective global value chains, enhancing supply chain connectivity, pursuing the new services agenda, facilitating infrastructure investment, engaging the private sector in infrastructure financing, supporting the SMMEs development, accelerating green growth, addressing energy security, achieving food security, robusting health systems,  accelerating financial market development, responding to the challenges of urbanization and others.

ABAC members highlight the importance of bilateral investment mechanisms and commend the formation of a high-level Regional Investment Analytical Group for attracting foreign direct investment and creating a favorable investment climate.
ABAC strongly supports the initiative to adopt an APEC Blueprint on Connectivity. ABAC members believe that the Blueprint will provide APEC with needed direction and impetus for regional economic integration after the achievement of the Bogor Goals in 2020.

In their report ABAC members encourage APEC leaders to consider: expanding channels of internationalization for SMMEs; promoting Cross-Border E-commerce Training (CBET) opportunities; increasing public-private dialogues and partnership; and removing barriers for new and creative business initiatives.

ABAC report and recommendations will be discussed with the APEC Leaders at the Summit in Beijing in November.
Full report