Local business leaders will push for greater cooperation with counterparts in countries comprising the Asia-Pacific Economic Cooperation (APEC).
They will also pursue the recommendations of fellow businessmen in Asia-Pacific on how to overcome the unprecedented economic crisis brought by the continuing pandemic, geo-political conflict, inflation, and supply chain disruptions .
“We are at an interesting point in history where the world is both completely connected by technology but bitterly divided by ideology. Cooperation among our nations, through trade, services, investment, and mutual respect and support, has never been more imperative,” said Sabin Aboitiz, a member of the APEC Business Advisory Council (ABAC) and ABAC Regional Economic Integration Working Group co-chair / lead for services.
Aboitiz and fellow member Joanne de Asis will join ABAC PH chairman Tomas Alcantara in discussing critical issues at the November 18 dialogue of the group in Bangkok, Thailand.
ABAC 2022 chair and chairman of the Federation of Thai Industries Kriengkrai Thiennukul recently presented the ABAC Report to APEC Economic Leaders to APEC 2022 chair Thailand Prime Minister Prayut Chan-o-cha.
The Report contains ABAC’s recommendations to APEC Leaders to meet the unprecedented economic crisis faced by the Asia-Pacific region arising from the consequences of the which impact directly on business, both large and small.
These recommendations will be the basis of the discussions when ABAC meets with APEC Leaders during our annual dialogue on November 18.
In the Report were recommendations that would firstly speed-up economic recovery, followed by regaining momentum for sustainable and inclusive long-term growth. The latter involves concrete actions to address climate change as well as furthering regional economic integration through the realization of the Free Trade Area of the Asia-Pacific, supporting multilateral rules-based trading systems with the World Trade Organization at its core, supporting micro, small and medium enterprises, encouraging faster uptake of digital technologies and pursuing fiscal consolidation and structural reforms.
