We welcomed the inputs from our business community, including ABAC
's resolve for expanding trade, and we share its view on the critical importance of trade facilitation.
The APEC Business Advisory Council (ABAC
) was created by the APEC Leaders in 1995 to advise APEC on the implementation of its agenda and provide the business perspective on specific areas of co-operation.
Philippines said the government should consider enlisting the country in the TPP, in spite of its reduced economic size with the withdrawal of the US, once the trade deal open its doors to new members.
I see the potential of Islamic investments in unlocking infrastructure development hurdles, especially in Mindanao,' said Abac
member Joanne de Asis.
This move came as ABAC
, in their annual Report to Leaders, called on APEC Leaders to further liberalize trade in goods and services as well as investment flows.
proposed that APEC members present an approach to get the WTO talks rolling by scrapping tariffs, export subsidies and trade-distorting domestic subsidies.
In an exclusive interview in Sydney with Business Asia Magazine, Roengpithya said ABAC
and APEC's work would benefit from a stronger sense of community and partnership between members.
The expansion of world trade in recent decades, according to ABAC
Philippines, has lifted over a billion people out of poverty.