APEC Business Advisory Council (ABAC)

ABAC was created by APEC Leaders in 1995 to be the primary voice of business in APEC.

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ABAC concluded its second meeting held in Mexico City warning of rising economic pressures as a result of severe shocks to energy markets that are disrupting supply chains in addition to rising trade and investments restrictions. ABAC called for urgent action to restore trade stability and growth across the Asia Pacific. It set out priority actions to achieve resilience and growth. Detailed outcome of the meeting are in the press release. https://t.co/rpcNiPBT4e. The ABAC Statements on FTAAP and on Connectivity can be found here. https://t.co/HlEdrsv1i6 and https://t.co/tOCiGtoneC. M

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ABAC 1 wraps up its first meeting with a Press Conference. ABAC Chair Li Fanrong said that during this meeting, members agreed on the strategic directions they will take as they develop practical business driven solutions to sustaining growth, strengthening supply chains and ensuring the region continues to serve as a driver of global growth. Details are in the press release. https://t.co/eJjjYMUir5

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A key event in ABAC 1 is the dialogue between ABAC members and APEC Senior Officials that is designed to promote synergy between policymakers and the business sector to ensure alignment of their priorities in their respective work agenda.

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ABAC 1 is underway. Mr. Li Fanrong, ABAC 2026 Chair, will seek the endorsement of Members of ABAC’s work program for 2026 and confirm timelines and deliverables. The deliverables are the business views and recommendations conveyed through letters addressed to the relevant Ministers who will be meeting in 2026. This will culminate in the Report to Leaders to be presented at the APEC Summit in November.

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H.E. Airlangga Hatarto, Coordinating Minister for Economic Affairs of Indonesia, delivers the keynote address to formally open ABAC 1. He highlighted the importance of collaboration between policy makers and the business in meeting the challenges faced by the Asia-Pacific region amidst global uncertainty. He shared Indonesia’s experience in meeting these challenges.

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ABAC Indonesia Chair, Pak Anindya Bakhri, delivers the welcome remarks to ABAC delegates, gathered in Jakarta for their first meeting of the year.

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ABAC Chair 2026 Li Fanrong presides over the meeting of ABAC Co-chairs and working group chairs in preparation for the start of ABAC’s first of four meetings this year. The ABAC Working Groups - Connectivity WG, Sustainability WG, Regional Economic WG, Digital and Innovation WG - plus the Finance and Economic Task Force - will be presenting their work plan to implement this year’s theme of “Openess, Connectivity. Synergy” through policy recommendations and concrete actions.

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“ABAC’s mission has always been to ensure that business plays its part as a trusted partner in building a stronger and more integrated APEC region,” said 2025 ABAC Chair Kyuho Lee, as the group wrapped up its final meeting for the year, ahead of its Annual Dialogue with Leaders. The ABAC 2025 Report to Leaders can be accessed on the ABAC website: https://t.co/McCtOoXkbC. The media release summarizing ABAC’s work this year is at https://t.co/DcmkzAyhPD.

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Kyuhoo Lee, ABAC Chair 2025, opens ABAC 4. On tap are preparations for the Dialogue with Leaders
including key messages to be conveyed, wrapped up the 2025 work program, and endorse the 2026 work program under ABAC China’s leadership.

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Hon. Woo Won-Shik, Speaker of Korea’s National Assembly, delivers the congratulatory remarks to formally open ABAC 4. He emphasized the role of ABAC working together with governments in helping shape APEC’s response to the uncertainties and challenges facing the region. He said the National Assembly takes note of the business sectors views in crafting policies that are responsive to these challenges and hopes other economies do as well.

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ABAC 4 meeting gets underway in Busan with Opening Chairs Meeting. Members will be preparing for their dialogue with APEC Leaders to discuss their recommendations to address the APEC region’s economic growth challenges.

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ABAC 3 meeting held in Hai Phong, Vietnam has concluded with a call to APEC to recommit to open, rules based, and predictable trade and take actions to ensure inclusive and sustainable growth. Here’s the media release that highlights the outcomes of the meeting. https://t.co/knKv3Ka6GE

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ABAC Chair 2025 H.S. Cho presides over the Opening Plenary of ABAC 3 in Hai Phong.

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H. E. Luong Cuong, President of Vietnam, welcomed ABAC delegates assuring them of Vietnam’s commitment to support innovative, sustainable and inclusive growth. That today’s challenges makes public/private even more crucial and acknowledged the important role of ABAC in this regard. He mentioned steps Vietnam has been taking to attract more business and outlined areas of priority.

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The first of 3 drafting sessions completed work on the first batch of Letters to Sectoral Ministers. A few
more to go before tackling the 2025 Report to APEC Leaders, the culmination of ABAC’s work for the year.

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ABAC 3 meeting got underway Tuesday with the Opening Chair’s Meeting where Working Group Chairs outlined their agenda for this meeting. At ABAC 3, the Council will finalize their Report to APEC Leader and Letters to Seven Sectoral Ministers who are holding their meetings this year.

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ABAC 2, held in Toronto, concluded with a media release of the outcome of the meeting. Read media release: https://t.co/Z5JYyWwvRS

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Food security, disaster resilience, green growth including greener trade, energy security and transition financing were the topics covered by the meeting of the Sustainability WG chaired by ABAC China’s Frank Gaoning Ning.

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ABAC’s Finance and Economic WG under Acting Chair Kobsak Duangdee, of ABAC Thailand, discuss solutions addressing: financing investment gaps for digital transformation, energy transition and security; financial inclusions; resilient financial systems for trade, investment and development including the use of digital innovations; and private-public collaboration initiatives.

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Bio and Healthcare Working Group Chair Kyu Ho Lee, of ABAC Korea, presides over the group in discussing issues relating to facilitating the development and use of new medical innovations and technology to enhance inclusive health care security particularly given the aging and demographic shifts in the region.