Biz leaders to join APEC business talks

MANILA, Philippines — Business leaders from the Asia-Pacific, including Filipino businessmen have drawn up a wishlist for economic recovery, to serve as a roadmap for the Asia-Pacific Economic Cooperation (APEC) ahead of the APEC meeting in Bangkok in November.

President Marcos will attend the APEC Meeting in Bangkok, alongside other heads of state in the region.

During the meeting, business leaders are expected to discuss doable goals to promote sustainable and inclusive growth across the Asia-Pacific, said tycoon Sabin Aboitiz.

The recommendations from the business sector comprising the APEC Business Advisory Council (ABAC) are meant to help in the region’s recovery after a two-year COVID-19 pandemic, he said.

Aboitiz, who is president and CEO of the Aboitiz Group and president and member of ABAC Philippines, will attend as ABAC Regional Economic Integration Working Group (REIWG) co-chair.

“We are at an interesting point in history where the world is both completely connected by technology, but bitterly divided by ideology. Cooperation among our nations, through trade, services, investment, and mutual respect and support, has never been more imperative. I look forward to these discussions and getting things done as a team,” said Aboitiz.

Businessman Tomas Alcantara is also part of ABAC Philippines.

Recommendations include concrete actions to address climate change, as well as furthering regional economic integration through the realization of the Free Trade Area of the Asia-Pacific (FTAA), supporting multilateral rules-based trading systems with the World Trade Organization (WTO) at its core.

Support for MSMEs are also deemed important for economic recovery, as well as improving digital technologies and pursuing fiscal consolidation and structural reforms, Aboitiz said.