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SBF shares ABAC's call for APEC to be a beacon of openness, inclusivity and innovation

28 July 2017 [Toronto, Canada] - Members of the APEC Business Advisory Council (ABAC), the private sector advisory body to the Asia-Pacific Economic Cooperation (APEC) regional forum, met for their third meeting of 2017 in Toronto, Canada, from 24 to28 July, to develop recommendations that would be delivered to the APEC Economic Leaders during the APEC Summit in November.

APEC is a region that is both economically and culturally diverse. Nonetheless, its members share a common goal of working together to create greater prosperity for its people by fostering a favourable environment for sustainable and inclusive economic growth. Over the four-day meeting, the members of ABAC, which come from the 21 APEC economies, re-emphasised the importance of APEC governments in taking concrete steps towards making the Free Trade Area of the Asia-Pacific (FTAAP) a reality, by resisting anti-trade and populist sentiments, and putting in place the necessary enablers for growth such as measures that will improve firms’ access to capital, infrastructure development and innovation.

“Innovation is imperative to making workers, companies and their economies more productive as well as more competitive. This is especially important as we enter into the age of rapid change in increasingly digitised economies. Innovation and collaboration at the regional level can also help to grow the pie, making it bigger for everyone. As business leaders, this is just as important as looking after our respective bottom lines. Working together as business leaders, ABAC can make a difference through its recommendations to APEC leaders.” says Mr Ho Meng Kit, CEO of SBF and Singapore’s ABAC Member.

As part of the meeting, ABAC members also participated in the APEC-Canada Growing Business Partnership Symposium (ABACx) on business innovation and cooperation held on 28 July. Mr Ho Meng Kit, CEO of SBF, and Mr Saw Ken Wye, Chairman of the Singapore infocomm Technology Federation and CEO of Crimson Logic, represented the Singapore business community at the ABAC meeting. ABAC’s news release for the meeting is available here.

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