ABAC III: APEC must be a transparent, innovative and inclusive region

In a press release issued following the conference, which was held from July 24-28, the ABAC members highlighted four priority fields in which to intensifying integration and trade liberalisation, accelerating the development of small and mediumsized enterprises, developing science and technology, and improve human resources training.

They also stressed the need for the APEC economies to take action toward the establishment of the Asia-Pacific Free Trade Area, based on the results of ambitious regional agreements such as the Trans-Pacific Partnership, the Regional Comprehensive Economic Partnership and the Pacific Alliance.

Talking to Vietnam News Agency correspondents, APEC Executive Director Alan Bollard said that as ABAC III was a meeting of enterprises, delegates discussed a series of issues related to trade and investment and on how to maintain the dynamic growth in the Asia-Pacific region.

New issues, including e-commerce, the development of small enterprises and the role of women in the economy, were also put to the table, he added.

Chairman of the ABAC Vietnam Hoang Van Dung emphasised the importance of science and technology in the digital era, especially for developing countries such as Vietnam.

As part of the conference, a representative from the Vietnamese delegation informed the participants of Vietnam's preparation works for the APEC Economic Leaders' Week, as well as for a dialogue between ABAC and APEC leaders to be held later this year.

Established in 1995, the ABAC is the private sector arm of the APEC, set up to advise APEC economic leaders and officials on issues of interest to business.

(Source: NDO)