Business Leaders' Next Steps to Advance WTO Negotiations - ABAC Meeting in Beijing
China is hosting a meeting of prominent Asia-Pacific business leaders with the second 2005 meeting of the APEC Business Advisory Council (ABAC) in Beijing on May 10-13.
Reinvigorating the WTO Doha Development Agenda negotiations will be at the top of ABAC's agenda as business leaders meet to identify private-sector priorities and discuss practical measures to advance these trade talks and strengthen the multilateral trading system.
An ABAC forum, specifically designed for local Chinese business executives on the challenges and opportunities faced by Chinese businesses going global and the significance of Asia-Pacific Economic Cooperation, is also on the agenda. This unique event will provide Chinese business leaders with the opportunity to share ideas and learn from some of the Asia-Pacific region's leading business lights.
2005 ABAC Chair, Mr. Jae-Hyun Hyun of Korea, said that the meeting in China will provide an opportunity for ABAC members to agree on concrete actions to assist the WTO Doha Development Agenda talks, and to further develop the report which will be presented to APEC Economic Leaders at the end of 2005.
"Business Leaders have strong interests in the quick and comprehensive conclusion of the WTO DDA talks, and in the success of the November WTO Ministerial in Hong Kong, China. Business best understands business' priorities and needs. We are sending a high-level delegation to Geneva to meet with members of the APEC Geneva Caucus and the WTO to directly convey our concerns and constructively offer our ideas," Mr. Hyun said.
"Another important goal of this meeting in China is to review ABAC's contribution to the mid-term stocktake of APEC's progress, and to ensure we are providing achievable and realistic guidance to help regional governments meet the Bogor Goals of free and open trade and investment by 2010 and 2020."
Mr. Jae-Hyun said he is excited by the opportunity to convene an ABAC Meeting in China for the first time since China hosted both APEC and the final ABAC meeting of 2001.
"As the emerging economic giant of Asia, it is very pleasing to hold our second meeting in China. We hope that we can learn much from our hosts and impart some collective knowledge on the regional business environment to local firms," Mr. Hyun said.
This ABAC Meeting is the second of four meetings of prominent business leaders planned for 2005. Recommendations developed and agreed by ABAC at these meetings will be presented to APEC Economic Leaders at their annual meeting, which this year will be held Busan, Korea in November.
The Beijing ABAC Meeting will take place on May 10-13 at the Shangri-la Kerry Center Hotel. Separate media information will be issued providing further details for media wishing to attend photo opportunities and a press conference during the meetings.