APEC Business Advisory Council

(Xinhua)
Updated: 2009-11-09 18:44

SINGAPORE: Representatives of the APEC Business Advisory Council (ABAC) met in Singapore on Monday, focusing on accelerating regional economic integration, strengthening capacity-building and other related issues.

Created by the APEC Economic Leaders in November 1995, the ABAC is the private sector arm of the APEC 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.

Each member economy nominates a maximum of three representatives from the private sector to sit in the ABAC and provide input from the business fraternity. China's interests are represented by Mr. Jack Ma, Chairman & CEO of Alibaba Group, Ms. Wang Lili, Executive Vice President & Board Member of the Industrial and Commercial Bank of China, and Dr. Zhang Lijun, Chairman of VODone Group Limited.

The theme for ABAC 2009 is "Building Toward the Bogor Goals with One Community," and the focus is on: accelerating regional integration, strengthening capacity-building and enhancing connectivity, and championing a model of sustainable development.

The Chair of the ABAC comes from the APEC Member Economy that is hosting the APEC and changes annually.

The ABAC has had three meetings previously in 2009 in the New Zealand capital of Wellington, Brunei Darussalam and Danang in Vietnam respectively.