ABAC's annual report to APEC Economic Leaders outlines business views about priority regional issues and contains recommendations to improve the business and investment environment in the APEC region. Many of ABAC's recommendations, for example the idea of a Free Trade Area of the Asia Pacific (FTAAP), have become core APEC activities. 

At the last meeting of the year (ABAC 4) in Vladivostok from 2 to 8 September 2012, the Council highlighted some key achievements of its working groups over the course of the year:

• Creation of the Policy Partnership on Food Security (PPFS) and the Policy Partnership on Innovation (PPSTI)
• Agreement to amend the APEC Non-Binding Investment Principles
• Funding for a region-wide Skills Mapping Study (ABAC-APEC Joint Project)
• Detailed deliberation on ABAC papers on Investing for Growth and Regulatory Coherence
• First-ever joint meeting of the Group on Services and the Market Access Group to consider “Embedded and Embodied Services,” arising directly from ABAC’s “Understanding Services” Report, endorsed by Leaders in Honolulu last November.

Recent Developments: 

At ABAC 4, Indonesia took over as Chair of ABAC in 2013 and outlined the ABAC 2013 theme: Partnership, Resilience and Bridges to Growth with four overall priorities: (i) Deepening regional economic integration; (ii) Promoting infrastructure and sustainable development; (iii) Fostering SMME development & entrepreneurship; (iv) Fostering the development and integration of financial markets.

At the first ABAC meeting in Manila, the Philippines on 20-23 January 2013, the Council clarified and endorsed the Action Plan of each Working Group for the year 2013, based on the 2013 theme.

ABAC met for the second time on 3-6 April 2013 in Singapore and endorsed several important documents including:

• An ABAC Chair’s letter sent to APEC MRT: (i) urging the 9^th WTO Minister Meeting in 2013 come to a tangible package of Doha-related decisions; (ii) supporting both TPP and RCEP and recommending related Ministers to keep the two track compatible with the ultimate goal of FTAAP; (iii) urging Ministers to keep their economies open for FDI and facilitating FDI; (iv) encouraging Ministers to remove barriers to services trade and to consider forming a Services Experts Group drawn from the public, private and academic sectors; (v) recommending global product data standards and Supply Chain infrastructure technology in support of APEC Chair’s Priority on enhancing connectivity.

• A letter to TPP Leaders, urging the completion of TPP negotiation by the aspiration time in October 2013.

ABAC is actively working toward preparing the Annual Report to APEC Economic Leaders and, among other issues, continuing cooperation with respective APEC Groups in promoting supply chain connectivity, FDI facilitation, dialogue and policy partnership in finance, food security, and science technology and innovation.

ABAC meetings:

• The first ABAC Meeting was held on 20-23 January 2013 in Manila, the Philippines (ABAC News Release)
• The second ABAC Meeting was held on 3-6 April  2013 in Singapore (ABAC News Release)
• The third ABAC Meeting will be held on 8-11 July 2013 in Japan
• The fourth ABAC Meeting will be held on 2-5 October 2013 in Bali, Indonesia