PH Participates in 1st APEC Business Advisory Council Meeting
The Department of Foreign Affairs (DFA), led by the Office of the Undersecretary for International Economic Relations (OUIER), participates in the First Asia-Pacific Economic Cooperation (APEC) Business Advisory Council Meeting (ABAC1) in Sydney, Australia from 12 to 14 January 2020. (DFA-OUIER photo)
SYDNEY 15 January 2020 – The Department of Foreign Affairs (DFA), led by the Office of the Undersecretary for International Economic Relations (OUIER), participated in the First Asia-Pacific Economic Cooperation (APEC) Business Advisory Council Meeting (ABAC1) in Sydney, Australia from 12 to14 January 2020.
The ABAC1 Meeting, through its dialogue sessions, provided a venue for deeper interaction between Senior Officials and ABAC members with a view to promoting understanding of ABAC priorities in 2020, eliciting the views of Senior Officials on ABAC’s work program, and identifying opportunities for synergy in advancing the APEC goals. The dialogue session tackled issues related to integration, inclusion, innovation, and sustainability.
All Senior Officials and ABAC members reaffirmed their commitment to a rules-based multilateral trading system. There was consensus in promoting sustainable growth by creating laws and policies that transition to the use of renewable sources of energy. The concept of “shared prosperity” was welcomed by all the members and emphasized the need for better policies towards inclusive growth.
There is a collective agreement among Senior Officials and ABAC members on further strengthening the link and partnership of the government and the business sector in the APEC process. END