The first meeting of APEC Business Advisory Council (ABAC) held in Singapore on January 22-25, 2006 has decided on programmes of action in 2006. Five working groups on Investment Liberalization & Facilitation Working Group (TILFWG), Technology Working Group (TWG), Fisheries Working Group (FWG), Capacity Building Working Group (CBWG) and Action Plan Monitoring Committee (APMC) have focused on key issues: liberalization of trade and investment, intensification of finance system, FDI and finance services, promotion of SMEs, intellectual property, infrastructure development and technology transfer, etc. Mr Le Quoc An, Chairman of Vietnam Textile and Garment Association and member of Vietnam ABAC 2006 said that, the five working groups have conducted their own research and upgraded the study after each meeting.
At the meeting, ABAC has decided to study on free trade area in Asia-Pacific, early warning on unstable capital resources and health insurance system of APEC economies.
The concern of businesses is to promote the WTO negotiation. In April, 2006, ABAC will send a delegation to discuss with WTO (Geneva) to ensure the success of Doha agenda. ABAC will also try to gain the support of leading European businesses and associations on the liberalization of trade, service and investment. Mr Hoang Van Dung, Chairman of Vietnam ABAC 2006, said that though Doha round failed on the reduction of tariffs on agricultural products, European and other industrialised countries have promised in 2013 will abolish subsidy on local agricultural products and open the market (97 per cent) to less developed countries.
Mr An added that the meeting asked for a wider opening, especially on agriculture, trade and service. Concerned countries may also develop bilateral co-operation. Information and administrative formalities must be improved. He cited as examples: customs formality for a container takes 10 minutes in Singapore compared to 60 minutes in Malaysia, four hours in Korea, two days in the Philippines and seven days in Vietnam. Vietnam must accelerate the administrative reform in preparation for the economic integration.
Beside the meeting, ABAC together with Singapore Business Federation (SBF) organised a conference discussing on measures to prevent the bird flu. ABAC and APEC will promote regional co-operation in this area.
According to Mr Hoang Van Dung, another important meeting to business communities is the CEO Summit to be held in November 2006. Businesses, especially small and medium sized enterprises may make contributions and recommendations to the leaders of APEC. To do so, they may now submit their contributions directly or indirectly to the secretariat of ABAC and CEO Summit.
Nguyen Thoa
Vietnamese
