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Prime Minister Abe Received the ABAC 2017 Report to APEC Economic Leaders

On October 30, 2017, the Japanese members of the APEC Business Advisory Council (ABAC) visited Japanese Prime Minister Shinzo Abe and directly handed him the ABAC 2017 Report to APEC Economic Leaders. The report proposes a broad range of recommendations including support of the multilateral trading system, realization of the Free Trade Area of the Asia-Pacific (FTAAP), promotion of digital trade, promotion of quality infrastructure development, and enhancement of energy security. 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 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. Three representatives and one deputy representative from Japan have been appointed by the Prime Minister as ABAC members.

As the year 2017 recommendations from ABAC were compiled into a report, ABAC members directly handed it to Prime Minister Abe on October 30, 2017, in advance of the APEC Ministerial Meeting to be held in Da Nang, Viet Nam, on November 8, 2017, and the APEC Economic Leaders' Meeting to be held in the same location on November 11, 2017. The major recommendations in the report this year are as follows (refer to the Appendix of the news release from ABAC Japan):

  • Regional economic integration (support of the multilateral trading system, implementation of agreements under the TPP, completion of RCEP negotiations in a comprehensive, quality and reciprocal manner, promotion of the APEC service agendas under the Services Competitiveness Roadmap, etc.)
  • Connectivity (improvement of internet-digital connectivity, secured cross-border movements of data and information, etc.)
  • Micro, small and medium enterprises (MSMEs) and entrepreneurs (expansion of MSMEs' global business development through digital economy and e-commerce, promotion of women's economic empowerment, etc.)
  • Sustainable development (improvement of energy security, etc.)
  • Finance and economics (development of capital markets in the APEC region, encouragement of MSMEs' utilization of financial services, etc.)

METI will endeavor to steadily resolve the significant challenges mentioned in the 2017 Report in part by taking advantage of the opportunities presented by the APEC meetings.

Reference

Release date

October 30, 2017

Division in Charge

APEC Office, Trade Policy Bureau

Related website

Ministry of Economy, Trade and Industry1-3-1 Kasumigaseki, Chiyoda-ku, Tokyo 100-8901, Japan Tel: +81-(0)3-3501-1511
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