Business Leaders Call for Realization of Free Trade Area of Asia-Pacific

Wahyu Dwi Anggoro - 29 April 2022 12:57 WIB
Business Leaders Call for Realization of Free Trade Area of Asia-Pacific
They welcomed APEC’s initiative for a renewed dialogue on FTAAP. (Photo:
Vancouver: Asia-Pacific business leaders in the APEC Business Advisory Council (ABAC), meeting this week in Vancouver, affirmed their determination to continue to work closely together to respond to the challenge of sustaining the region’s growth trajectory in the face of an increasingly complex, interconnected and rapidly changing global environment.

ABAC Chair for 2022, Supant Mongkolsuthree, said that a series of grave challenges arising from the lingering effects of the pandemic and recent events that have caused disruptions to the global markets and supply chain—triggering inflationary pressures and threatening food security - have affected the Asia-Pacific region’s ability to achieve sustainable, inclusive and resilient growth.  
"Responding to these challenges demands decisive, deliberate action, both to deepen the economic integration of our region and to better equip our businesses, including the smallest, to achieve dynamic and sustainable growth," he said in a press release on Friday.

"We will take the opportunity to convey our views on how this can be achieved to APEC Ministers Responsible for Trade who will be meeting next month," he added.

To deepen economic integration, ABAC has consistently advocated the eventual realization of a Free Trade Area of the Asia-Pacific (FTAAP). 

"We welcomed APEC’s initiative for a renewed dialogue on FTAAP," the Chair said.

"We will be proposing to ministers that APEC launch five multi-year joint work programs to develop tangible outcomes on identified business priorities including digitalization, inclusion, sustainability, trade and investment and trade response to the pandemic," he added.

The Chair thanked ABAC Canada for hosting the meeting which demonstrates ABAC’s determination to enable the resumption of business and cross-border travel and in learning to live with COVID-19 judging by the large number of on-site attendees of ABAC members. 

The Honorable Ravi Kahlon, Minister of Jobs, Economic Recovery and Innovation of British Columbia delivered the keynote address during the opening session of the meeting.


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