ABAC Calls for Pandemic Response and Economic Recovery

12:18:57 PM | 2/26/2021

Business leaders from 21 APEC economies attended the first online meeting of the APEC Business Advisory Council (ABAC) in 2021.

Dr. Vu Tien Loc, Chairman of ABAC Vietnam, attended this important conference, discussing with Madam Jacinda Ardern - Prime Minister of New Zealand, Madam Rachel Taulelei - President of ABAC 2021, and ABAC members on joint efforts in response to the Covid-19 pandemic and regional economic recovery.

At the meeting, ABAC members agreed that the world is facing a century crisis, forcing APEC businesses to strengthen infrastructure to overcome difficulties and gradually reopen the market to revive the regional economy.

ABAC members agree that ABAC's 2021 focus is people, place and prosperity - three essential elements to shape a good living society. Accordingly, inclusion is an important goal of ABAC to ensure that everyone has access to Covid vaccines, essential goods and food supplies. They also sought how to enable small businesses to operate on a level playing field; and how to empower women.

In addition, the place is an important factor for protecting the planet. ABAC desires to take the lead in climate change response and will work to accelerate the transition to a low-carbon economy by promoting renewable energy and encouraging innovation.

And, to successfully build a prosperous region, especially after shocks in 2020, the most fundamental goal of the Asia - Pacific Economic Cooperation (APEC) is a free and open trade market, including initiatives to keep supply chains running and trade uninterrupted, reopen borders and resume tourism to revitalize the region's economic growth.

Madam Rachel Taulelei, President of ABAC 2021, emphasized that “Digital technologies are the foundation to increase resilience, sustainability and inclusion. Disruptive technologies like artificial intelligence can open up bigger opportunities but we need to create the environment and conditions to realize that potential. ABAC members support a vision that calls for an open, dynamic, resilient and peaceful Asia-Pacific community by 2040.

By H.Ly, Vietnam Business Forum