ABAC III: APEC needs to be open, innovative and inclusive region

APEC needs to become an open, innovative and inclusive region with a long-term vision to create sustainable and inclusive growth, heard the third APEC Business Advisory Council meeting in Toronto, Canada.
ABAC III: APEC needs to be open, innovative and inclusive region ảnh 1Hoang Van Dung, Chairman of ABAC Vietnam. (Source: VNA)
Ottawa (VNA) – The Asia-Pacific Economic Cooperation(APEC) needs to become an open, innovative and inclusive region with along-term vision to create sustainable and inclusive growth, heard the third APECBusiness Advisory Council meeting (ABAC III) in Toronto, Canada.

In a press release issued after the conference, which washeld from July 24-28, ABAC members highlighted four priority fields ofintensifying integration and trade liberalisation, speeding up the developmentof small- and medium-sized enterprises, developing science and technology, andbettering human resources training.

They also stressed the need for APEC economies to take actiontoward the establishment of the Asia-Pacific Free Trade Area based on theresults 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 ExecutiveDirector Alan Bollard said that as ABAC III was a meeting of enterprises,delegates discussed a series of issues related to trade and investment and onhow to maintain dynamic growth in the Asia-Pacific region.

New issues, including e-commerce, development of smallenterprises and the role of women in the economy, were also put on table, headded.

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

Within the framework of the conference, a representative fromthe Vietnamese delegation informed the participants of Vietnam’s preparationworks for the APEC Economic Leaders’ Week as well as a dialogue betweenABAC and APEC leaders later this year.

Established in 1995, the ABAC is the private sector arm ofthe APEC to advise APEC economic leaders and officials on issues of interest tobusiness. -VNA
VNA

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