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SBF shares ABAC’s call for APEC to press ahead with structural and trade reform

7 November 2017 [Da Nang, Vietnam] -
Members of the APEC Business Advisory Council (ABAC), the primary voice of business in APEC, gathered in Da Nang, Vietnam on 4-6 November 2017 for its fourth meeting of the year to primarily submit its annual report to APEC leaders. The report pointed out the need for both structural reform and the elimination of barriers to goods and services trade as well as investments in the Asia-Pacific region.

Furthermore, ABAC urged leaders to show leadership on free trade and globalisation by pressing ahead towards APEC’s shared vision of advancing free trade for inclusive growth and prosperity in the Asia Pacific region.

Representing the Singapore business community at the 2017 ABAC IV Meeting were Mr Ho Meng Kit, CEO of SBF and Mr Saw Ken Wye, CEO of CrimsonLogic Pte Ltd and Chairman of the Singapore infocomm Technology Federation (SiTF).

Mr Ho Meng Kit, who is also ABAC’s Champion for Services, said that it is very important at this stage, for both APEC officials and ABAC members to sit down together, exchange information and insights on the challenges facing both sectors, and discuss candidly how to tackle them. “Businesses and governments may have different perspectives how to tackle trade issues and to facilitate businesses.  What is more important is that everyone’s voice is heard and both sides can work together to come up with pragmatic solutions in tackling economic challenges globally”, Mr Ho said.

Mr Ho added that he looks forward to the ABAC Dialogue with APEC Leaders scheduled on 10 November 2017, in which these issues will be discussed further. Mr S. S. Teo, Chairman of SBF and Managing Director of Pacific International Lines, and Ms Jeanette Wong, Group Executive at DBS Bank, will also be participating at the said Dialogue to represent the Singapore business community.

ABAC’s news release for the 2017 ABAC IV Meeting is available here.

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