Corrs CEO and partner John W. H. Denton attended the second APEC Business Advisory Council (ABAC) meeting of the year from 3 - 6 April in Singapore.
He chaired the opening meeting, opening plenary as well as the Finance & Economics Working Group (FEWG).
Asia-Pacific business leaders from each of the APEC’s 21 economies concluded their meeting in Singapore with an agreement on recommendations that will now be submitted to APEC Ministers Responsible for Trade ahead of meeting in Surabaya, Indonesia, later this month.
ABAC recommendations will urge the Ministers to take steps to accelerate the process of economic integration, including by taking actions to realise the Free Trade Area of the Asia-Pacific (FTAAP), enhance the flow of foreign direct investments, promote the growth of services trade and investments, and improve supply-chain connectivity.
Business leaders attending the Singapore meeting were also received by Singapore’s Acting Prime Minister, Teo Chee Hean, at Istana. The Acting Prime Minister highlighted the importance of business and government working together to drive regional prosperity and praised ABAC’s role in this regard.
ABAC was established by economic leaders in November 1995 in response to a call for a private sector body that could advise the leaders on matters of primary importance to business in the region to facilitate closer economic cooperation.
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