Year in Review - 2012

Building on the progress made in 2011, ABAC decided to adopt "Aspirations to Reality." as the central theme for 2012. The 2012 work program focused on regional economic integration, SMME and entrepreneurship and sustainable growth, with particular emphasis on the key areas of transportation and logistics, technology transfer and green development and eco cities. Four meetings were held in Hong Kong, China (ABAC1, February 21-24, 2012), Kuala Lumpur, Malaysia (ABAC2, May 21-24, 2012), Ho Chi Minh City, Viet Nam (ABAC3, July 16-19, 2012), and Vladivostok, Russia (ABAC4, September 3-6).

ABAC's annual report to APEC Economic Leaders outline business views about priority regional issues and contain recommendations to improve the business and investment environment in the APEC region. Many of ABAC's recommendations, for example the idea of a Free Trade Area of the Asia Pacific (FTAAP), have become core APEC activities.

At the last meeting of the year in Vladivostok from 2 to 8 September 2012, the Council highlighted some key achievements of its working groups over the course of the year:

Creation of the Policy Partnership on Food Security (PPFS) and the Policy Partnership on Innovation (PPSTI)
Agreement to amend the APEC Non-Binding Investment Principles
Funding for a region-wide Skills Mapping Study (ABAC-APEC Joint Project)
Detailed deliberation on ABAC papers on Investing for Growth and Regulatory Coherence
First-ever joint meeting of the Group on Services and the Market Access Group to consider “Embedded and Embodied Services”, arising directly from ABAC’s “Understanding Services” Report, endorsed by Leaders in Honolulu last November.

The Council also endorsed several key decisions and documents:

A Letter to the Russian SOM Chair and the Indonesian Senior Official (incoming SOM Chair) recommending a joint ABAC-APEC project on Global Data Standard Project in support of the APEC Supply Chain Connectivity Action Plan
An ABAC Joint Statement on TPP urging its completion in 2013
Agreement to highlight the PPFS in all possible dialogues with Leaders