Major Issues Impacting On Apec Region To Be Discussed At APEC Business Advisory Council To Meet In Tokyo
Senior Business representatives from each of APEC's 21 economies will meet to discuss major issues affecting regional trade in Tokyo on 13-16 May for the second meeting of the APEC Business Advisory Council (ABAC) for 2003.
ABAC Chair, Dr. Viphandh Roengpithya, said it is important for the business community, and its representatives in ABAC, to remain current with issues affecting the business in the region.
"There are a number of serious issues confronting the regional economy at the moment," Dr. Viphandh said.
"It is crucial that the business community plays a role in maintaining our regional economic health."
The ABAC meeting will produce a report of its discussions and resolutions that will be presented to the meeting of APEC Trade Ministers in Khon Kaen, Thailand, in June.
"The agenda for the meeting is in the process of being confirmed, but there will be a number of issues that can be expected to be on the agenda relating to the current business environment."
At the Tokyo meeting the ABAC members will participate in a symposium with Japanese government officials on intellectual property rights, free trade agreements and regional trade agreements, and regional financial cooperation. ABAC members will also attend a reception hosted by Japan's Foreign Minister, Yoriko Kawaguchi, and Trade Minister, Takeo Hiranuma.
The Tokyo meeting will continue to refine the Council's work program for the year 2003 and prepare input for the June meeting of APEC's Ministers Responsible for Trade.
The APEC Business Advisory Council (ABAC) is the private sector arm of the APEC Forum and is made up of three senior business representatives from each of APEC's 21 member economies. These representatives are nominated to attend ABAC meetings and events by the Leaders of each economy.
ABAC provides an annual report to APEC Economic Leaders and Ministers that recommends ways to improve business and investment in the APEC region and ensure the region enjoys the benefits of globalization.
The five bodies set up within ABAC this year to develop the priorities are working groups on financial stability, trade and investment liberalization, trade and business facilitation, capacity building as well as an Action Plan Monitoring Committee.
The Council is chaired this year by Dr. Viphandh Roengpithya, who is the President of the Asian University of Science and Technology in Thailand.