Prime Minister Noda and METI Minister Edano Received Proposals on Economic Integration in the Asia-Pacific Region, on Sustainable Economic Growth, and on Other Issues-Japan’s Representatives of APEC Business Advisory Council (ABAC) Submitted Proposals-
Japan's members of the APEC Business Advisory Council (hereinafter called "ABAC") visited Prime Minister Noda and Minister of Economy, Trade and Industry Edano, today, August 28, 2012, and directly handed them the 2012 ABAC Report to Leaders. The report proposes the promotion of regional economic integration, including the realization of the Free Trade Area of the Asia-Pacific (FTAAP), and the promotion of sustainable economic growth. The Ministry of Economy, Trade and Industry (METI) will make further efforts to address these issues.
- ABAC is APEC's official advisory council, established in 1996. Representing the business sectors in the Asia-Pacific region, it annually releases the Report to Leaders and holds the dialogues between ABAC members and APEC leaders, taking advantage of the opportunity presented by the APEC Economic Leaders' Meeting. ABAC members are representatives from the business sectors of the 21 economies participating in APEC. From Japan, three representatives have been appointed by the Prime Minister as ABAC members.
- As the year 2012 proposals from ABAC was compiled into a report, ABAC members directly handed the report to Prime Minister Noda and Minister Edano today, August 28, 2012, in advance of the APEC Ministerial Meeting to be held in Vladivostok on September 5 and 6, 2012, and the APEC Economic Leaders' Meeting to be held in the same location on September 8 and 9. The major proposals in the report this year are as follows (refer to the news release from ABAC Japan(PDF:392 KB) (in Japanese):
- Regional economic integration, including realizing the FTAAP and expanding the membership of the Information Technology Agreement (ITA) as well as strengthening it.
- Establishing a low-carbon society in the APEC economies by promoting trade liberalization for environmental goods
- Diversification of energy sources through utilizing natural gas, including clean energy sources and unconventional energy sources
- Promoting innovation in enterprises, through measures such as facilitating venture investment
- In light of the proposals, METI will make efforts to deal with the issues, taking advantage of the APEC meetings, including promoting and strengthening efforts toward realizing the FTAAP, and accelerating green growth as well as facilitating innovation throughout the Asia-Pacific region.
August 28, 2012
Division in Charge
APEC Office, Trade Policy Bureau