ABAC submits 20 recommendations to APEC leaders
PSNews – 20 recommendations by the APEC Business Advisory Council (ABAC) have been submitted to this year’s APEC leaders, including 6 ones related to international integration.
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| The ABAC takes place from November 4 to 6 |
At the same time, from November 4-6, 4 initiatives of Vietnam in the APEC Year 2017 will be discussed at the ABAC.
Together with the APEC events, ABAC annually organizes 4 working sessions, including the last session held in the host country of APEC and the other 3 sessions in other member countries.
In 2017, the first 3 sessions of ABAC were organized in Thailand, the Republic of Korea and Canada while the last session is organized in Da Nang, Vietnam by the Vietnam Chamber of Commerce and Industry (VCCI).
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| Delegates discussed initiatives by Vietnam |
The 20 recommendations of ABAC submitted to the APEC Economic Leaders’ Meetings include: supporting the multilateral trading system; promoting the Asia-Pacific Free Trade Area (FTAAP); continuing to pursue the new agenda of the services sector; removing non-tariff barriers; creating favorable conditions for trade and investment; building APEC visions after 2020: 4 recommendations on regional and institutional connectivity, infrastructure and people, and 10 recommendations on sustainable development, innovation, inclusiveness and supports for micro, small and medium enterprises as well as for women’s participation in economic activities.
Delegates are also expected to discuss Vietnam's four initiatives on human resources in the digital era, cross-border e-commerce, promoting innovation and startups, and inclusive financial and socio-economic development.
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| Delegates of the ABAC |
In addition, ABAC is to hold other group meetings discussing on financial and economic issues, regional economic integration, sustainable development, small and medium enterprises, microenterprises & entrepreneurs as well as preparing ABAC reports for APEC Ministers and APEC Leaders and the agenda for the ABAC Dialogue with APEC Leaders on November 10.
ABAC was established in 1995 at the 3rd APEC Summit (held in Japan) to promote the role of the private sector in APEC cooperation.
The representatives of Vietnam at ABAC 2017 include Mr. Hoang Van Dung, President of the ABAC 2017, former Vice Chairman of VCCI; Mr. Dang Thanh Tam, Chairman of Saigon Invest Group; Mr. Nguyen Thanh Hung, Chairman of the Founding Committee of Sovico Holdings.
