National Center for APEC

THE VOICE OF U.S. BUSINESS IN THE ASIA PACIFIC

ABAC EVENTS

  • July 23 - July 28, 2017
    ABAC III
  • November 4 - November 7, 2017
    ABAC IV
  • November 10, 2017
    ABAC and Economic Leader Dialogue

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ABAC 2016 Report to APEC Economic Leaders

ABAC 2014 Report

 

 

ABAC 2016 Report to APEC Economic Leaders: Quality Growth and Human Development

 

 

 

 


Complete list of NCAPEC publications

ABAC ACHIEVEMENTS

The Shanghai Model Port Project (SMPP) Launched in 2001 by China Customs, U.S. Customs, ABAC, and a coalition of private sector companies with significant business interests in the APEC economies. The Project's goal was to make Shanghai a model modern customs entry point by improving capacity building, information and communication technologies, and infrastructure. The project dramatically reduced customs processing times at the Shanghai Port, and has reduced the costs of doing business while enhancing security.

APEC Business Travel Card (ABTC) The APEC Business Travel Card was created in response to the demands of the regional business community for simpler short-term entry procedures within APEC. The ABTC was developed in response to ABAC members’ call on APEC Leaders to expedite business-entry into APEC economies. The ABTC allows business travelers pre-cleared, facilitated short-term entry to participating member economies.

Trade Facilitation Action Plan (TFAP I) In 2001, APEC Leaders called for a 5 percent cut in trade transaction costs by 2006. To meet this goal, APEC launched TFAP I, which identified specific outcomes to be met. ABAC participated in the development of the Action Plan with officials, and encouraged regional private-public partnerships in trade facilitation and capacity building. By 2006, TFAP had produced over 1,400 proposed trade facilitating actions, of which about 62 percent had been completed. At their annual meeting in 2006, APEC Leaders acknowledged achievement of the goal.

Busan Business Agenda (TFAP II) Following the success of TFAP I, and in response to specific recommendations from ABAC, APEC Leaders agreed to the Busan Business Agenda in 2005, which called for a further 5 percent reduction in trade transaction costs. ABAC was closely involved with the development of TFAP II. In 2010, APEC economies announced that they met their TFAP II objectives of a 5 percent reduction in total trade transaction costs across the APEC region, which resulted in total savings of USD 58.7 billion.

APEC Life Sciences Innovation Forum (LSIF) Established in 2002, the LSIF has a unique structure that brings together leaders from the private sector, government, and academia. The LSIF leads projects focused on the efficient and effective delivery of patient-focused products and services that can improve a population's longevity, wellness, productivity, and economic potential.

Free Trade Area of the Asia Pacific (FTAAP) In early 2004, several ABAC members put forward the concept of a FTAAP. In the fall of 2006 in Hanoi, after two years of study, deliberation, and advocacy, APEC Leaders formally made the FTAAP a long-term vision for APEC. This decision reaffirmed APEC's focus on achieving free trade and investment across the region.

Asia-Pacific Infrastructure Partnership (APIP) APIP was established in 2010 by ABAC. APIP is a regional structure aimed at initiating dialogues within APEC economies between governments, business, multilateral development banks, and academics on complex infrastructure matters. APIP is comprised of approximately 60 specialists from academia, asset management, commercial banking, investment banking, engineering, property development, information technology, legal, and consulting sectors, as well as specialists from the Asia Development Bank, the World Bank, and the OECD.

APEC Cross-Border Privacy Rules (CBPR) System In 2011, regional officials along with technical experts from the public and private sectors developed the CBPR system. The objectives of the CBPR system are to support business needs, reduce compliance costs, provide consumers with effective remedies, allow regulators to operate efficiently, and minimize regulatory burdens. The system was endorsed by APEC Leaders in 2011.

APEC Innovation Principles Agreed to by Leaders in 2011, the Innovation Principles set broad guidance to economies seeking to stimulate and encourage innovation in their economies. ABAC encouraged Leaders to promote effective, non-discriminatory, and market-driven innovation policies by implementing the guidelines outlined in the Principles.

Update of APEC's Investment Principles In 2011 APEC Leaders agreed to the ABAC-issued update to APEC's 1994 Investment Principles. The update provided a “best practice” guide to opening economies to foreign investment.

APEC Policy Partnerships In 2011, APEC launched a new form of public-private sector dialogue between officials and experts from industry and non-governmental organizations. To date, new policy partnerships include: Policy Partnership on Food Security (PPFS); Policy Partnership on Environmental Goods and Services (PPEGS) ; Policy Partnership on Science, Technology, and Innovation (PPSTI); and Policy Partnership on Women and the Economy (PPWE). The ABAC plays a key role in these Policy Partnerships by developing private sector participation in each of these dialogues.

Asia-Pacific Financial Forum (APFF) In 2012, ABAC proposed the establishment of the APFF, a regional platform for enhanced public-private collaboration to accelerate the development of robust and integrated financial markets in the Asia-Pacific. The APFF was endorsed by APEC Finance Ministers in 2013.

Environmental Goods Tariff Reduction Commitments In 2012, APEC Leaders endorsed the APEC List of Environmental Goods to reduce applied tariff rates to 5 percent or less by the end of 2015.

Supply Chain Connectivity Framework (SCCF) The SCCF aims to address eight chokepoints identified as barriers to the flow of goods, services, and business travelers throughout the APEC region. The objective of the SCCF was a 10 percent improvement in supply chain performance by 2015 as measured by time, costs, and uncertainty. ABAC has played a critical role in the development of the SCCF, particularly in prioritizing supply chain policies and recommendations, and identifying specific capacity building initiatives.

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