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Prime Minister Abe Received the ABAC 2014 Report to APEC Economic Leaders, Including Regional Economic Integration and Sustainable Development

Japan’s members of the APEC Business Advisory Council (hereinafter called “ABAC”) visited Prime Minister Abe, today, October 28, 2014, and directly handed him the ABAC 2014 Report to APEC Economic Leaders. The report proposes the promotion of regional economic integration, including the realization of the Free Trade Area of the Asia-Pacific (FTAAP), and sustainable development through infrastructure investment and development. 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. From Japan, three representatives have been appointed by the Prime Minister as ABAC members.

As the year 2014 proposals from ABAC were compiled into a report, ABAC members directly handed the report to Prime Minister Abe today, October 28, 2014, in advance of the APEC Ministerial Meeting to be held in Beijing, China, from November 7 to 8, and the APEC Economic Leaders’ Meeting to be held in the same location from November 10 to 11. The major proposals in the report this year are as follows (refer to the news release from ABAC Japan(PDF:867KB) PDF File (in Japanese)):

  • Regional economic integration (completing the negotiations for expanding the membership of the WTO Information Technology Agreement (ITA); achieving the FTAAP, etc.)
  • Infrastructure and connectivity (accelerating infrastructure development and facilitating infrastructure investment, etc.)
  • Small, medium and micro-enterprises (SMMEs) and entrepreneurship (enhancing SMMEs’ access to finance; sustaining the momentum of women’s economic empowerment, etc.)
  • Sustainable development (accelerating green growth; addressing energy security, etc.)
  • Finance and economics (accelerating financial market development to promote growth, etc.)

METI will endeavor to steadily resolve the significant challenges delivered in the 2014 Report by taking the opportunity of the APEC meetings.

Release date

October 28, 2014

Division in Charge

APEC Office, Trade Policy Bureau

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