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Prime Minister Abe Received the ABAC 2016 Report to APEC Economic Leaders

On November 9, 2016, the Japanese members of the APEC Business Advisory Council (hereinafter referred to as “ABAC”) visited Japanese Prime Minister Shinzo Abe and directly handed him the ABAC 2016 Report to APEC Economic Leaders. The report proposes a broad range of recommendations, including the early enforcement of Trans Pacific Partnership (TPP), the realization of the Free Trade Area of the Asia-Pacific (FTAAP), the promotion of liberalized trade in goods and services, the internationalization of micro, small, and medium enterprises (MSMEs), the facilitation of MSMEs’ access to finance, and the expansion of infrastructure investment. 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 uses the opportunity presented by the APEC Economic Leaders Meeting to hold dialogues between ABAC members and APEC leaders. 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.

The year 2016 recommendations from ABAC were compiled into a report which ABAC members directly handed to Prime Minister Abe on November 9, 2016, in advance of the APEC Ministerial Meeting to be held in Lima, Peru, from November 17 to 18 and the APEC Economic Leaders’ Meeting to be held in the same location from November 19 to 20. The major recommendations in the report this year relate to the following areas (refer to the news release from ABAC Japan):

  • Regional economic integration (early enforcement of TPP, high-level conclusion of RCEP negotiations, realization of FTAAP, promotion of liberalized trade in goods and services, etc.)
  • MSMEs and entrepreneurs (encouragement of MSMEs’ accessibility to global markets, enhancement of women’s economic status, etc.)
  • Connectivity (promotion of policies for realizing the Internet/digital economy, etc.)
  • Sustainable development (improvement of energy security, etc.)
  • Finance and economics (encouragement of MSMEs’ utilization of financial services, expansion of infrastructure investment, etc.)

 METI will endeavor to make best use of the opportunities provided during the APEC meetings to develop solutions for the significant challenges.

Release date

November 9, 2016

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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