The APEC Business Advisory Council (ABAC) concluded its meeting in Tokyo this week, calling for decisive action to boost trade, digitalization and climate response.
“Tackling trade and investment barriers, promoting digitalization and accelerating the climate response is urgent. We can’t wait any longer” said Julia Torreblanca, the 2024 Chair of ABAC.
In that regard, Torreblanca announced that ABAC has finalized its recommendations for APEC Leaders addressing these challenges, under its’ theme for this year, ‘People, Business, and Prosperity,’ to be formally presented during the APEC Economic Leaders’ Week taking place November in Lima, Peru. ABAC also prepared detailed recommendations to Ministers of Finance, Health, Energy, Food Security, and Small and Medium Enterprises.
“Achieving our goals requires a seamless commercial environment built on strong foundations. APEC needs to make the Free Trade Area of the Asia-Pacific a reality, and ensure that the World Trade Organization (WTO) remains relevant and effective”, said Torreblanca.
“All APEC economies should join the new WTO E-commerce Agreement, which prevents the use of tariffs on digital trade and lays a critical foundation.”