November 18, 2020
On November 17, 2020, the Japanese members of the APEC Business Advisory Council (ABAC) visited Japanese Prime Minister Suga Yoshihide and directly handed him the ABAC 2020 Report to APEC Economic Leaders.
The Ministry of Economy, Trade and Industry (METI) will make further efforts regarding the issues highlighted in the report.
ABAC is APEC’s sole official advisory entity, established in 1996 (following the leaders’ declaration in 1997). Representing the business sectors in the Asia-Pacific region, it annually releases the ABAC Report to APEC Economic Leaders. ABAC members consist of representatives of the business sectors of 21 APEC member economies and are appointed by each respective leader. From Japan, three members and one alternate member are appointed by the prime minister.
On November 17, 2020, the Japanese members of ABAC visited Prime Minister Suga and directlyhanded him the ABAC 2020 report.
Key points of the ABAC 2020 report (see the Appendix to the ABAC Japan press release below)
- Trade and investments (support for the multilateral trade system and necessary reforms of WTO, promoting a work towards eventual realization of the Free Trade Area of the Asia Pacific (FTAAP), collaborative work toward reopening of borders after COVID-19, etc.)
- Innovation (promoting, and fostering the development of digital technologies and infrastructures, facilitating cross-border data flows and expand international regulatory cooperation to develop interoperability mechanisms, etc.)
- Inclusive economic growth (enhancing MSME access to financing and markets through digitalization, realizing digital transformation, etc.)
- Sustainable development (promoting collective effort toward energy security and a decarbonized society, tackling climate change and encouraging circular economy, strengthening food security, etc.)
METI will steadily work on these issues highlighted in the report.
Division in Charge
APEC Office, Trade Policy Bureau