ABAC convenes fourth meeting
15:40 | 06/11/2017
VGP – The fourth meeting of the  APEC Business Advisory Council (ABAC) was held on November 5 in Da Nang with the presence of representatives from 21 APEC  member economies.

The fourth meeting of the  APEC Business Advisory Council (ABAC), November 5, 2017

Vietnamese Deputy Foreign Minister Bui Thanh Son and ABAC 2017 Chair Hoang Van Dung chaired the opening ceremony.

ABAC 2017 Chair Hoang Van Dung said that the fourth ABAC meeting reviewed recommendations that the council will submit to APEC leaders in their meeting on November 10, and built an action plan for 2018 in Papua New Guinea.

The recommendations focus on promoting regional integration and removing protectionism barriers to facilitate business development and investment; support for small- and medium-sized enterprises in terms of finance and technologies; vision until 2020 and afterwards.

At the fourth session, delegates discussed recommendations on promoting and developing private economic development, economic integration, sustainable economics, creativity, finance competence, human resources in the digital era, and building APEC visions after 2020.  

Mr. David Toua, from Papua New Guinea revealed that as the host of APEC 2018, Papua New Guinea will give a priority to digital technology creativity. 

The ABAC was set up by APEC leaders at the third APEC Economic Leaders’ Meeting in Japan in 1995 with the aim of promoting the role of the private economic sector in APEC cooperation.

ABAC was previously held in Thailand, the Republic of Korea, and Canada./. 

By Kim Anh  

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