Q: What is ABAC?
A: ABAC stands for APEC Business Advisory Council. It is the private sector arm of the Asia-Pacific Economic Cooperation (APEC), created by the APEC Economic Leaders in November 1995 with the aim of:
"Providing advice to the APEC Economic Leaders on ways to achieve the Bogor Goals and other specific business sector priorities, and to provide the business perspective on specific areas of cooperation."
The chair of ABAC is rotated each year among the member economies. Singapore currently assumes the role as Chair of ABAC for 2009.
Q: What are the Bogor Goals?
A:
The Bogor Goals, adopted by APEC Leaders in 1994, aims to:
"Achieve free and open trade and investment in the Asia-Pacific by 2010 for industrialised economies and 2020 for developing economies"
The eventual goal is to achieve full trade and investment liberalization and integration through a Free-Trade Area of the Asia-Pacific.
Q: Who are the ABAC Members?
A:
ABAC members comprise representatives from all 21 APEC economies. 3 members from the private sector are nominated from each economy, and they represent a wide range of industrial and business sectors.
Q: Who represents Singapore at ABAC?
A: Singapore's business community is represented in ABAC by Mr. Teng Theng Dar, CEO, Singapore Business Federation and Chair, ABAC 2009; Ms. Chong Siak Ching, President and CEO, Ascendas Pte Ltd and Chair, APEC CEO Summit 2009; and Mr. Tang Kin Fei, Group President and CEO, Sembcorp Industries Ltd.
Q: What are the themes for ABAC 2009?
A:
The theme for ABAC 2009 is "Building towards the Bogor Goals with One Community" with three main focus areas:
1. Accelerating regional economic integration
2. Championing the need for a model of sustainable development to support growth
3. Developing capacity building and global connectivity for SMEs
Q: How can ABAC benefit my business directly?
A: APEC policies affect a wide range of issues concerning businesses, from investment and trade liberalization, labour mobility, access to finance, ease of doing business, infrastructure provision and food and energy security, among other issues. ABAC provides the platform for the communication of feedback on this these policies to APEC Leaders.
ABAC is the only non-governmental organization that is on the official agenda of the annual APEC Economic Leaders Meeting. Therefore, ABAC recommendations are valued and held in high regard by political leaders.
Q: How can I provide feedback on APEC policies to ABAC?
A: Businesses can provide their feedback on these issues to the ABAC Singapore Secretariat, or participate in various events and dialogues organized by ABAC Singapore to have your say. Feedback received would be raised at the appropriate APEC/ABAC forums for deliberation and eventually presented to APEC Leaders for their action.
You may send any feedback on APEC/ABAC policies via email to
abacsg@sbf.org.sg
Q: Where is the ABAC Singapore Secretariat housed at?
A: The Singapore Business Federation as the APEX business chamber in Singapore is the appointed national secretariat for ABAC Singapore.
ABAC Singapore Secretariat is located at:
c/o Singapore Business Federation
10 Hoe Chiang Rd
#22-01 Keppel Towers
Singapore 089315
If you have any enquiries on ABAC or you would like to reach us, please contact:
Ms Quek Shiyun/ Mr Alvyn Lim
Tel: +65 6827 6858 / 6869
Fax: +65 6720 2873
Email: abacsg@sbf.org.sg.
Q: How can I find out more about APEC, ABAC and ABAC Singapore news updates and events?
A: You may join our Mailing List to receive updates about ABAC related events and news items on APEC policies that affect your business directly.
Click here to join the ABAC mailing list.
