APEC Business Advisory Council (ABAC)
The APEC Business Advisory Council (ABAC) is a unique feature of APEC that allows the government to seek business input and expertise and to coordinate with government policymakers to produce outcomes that are directly meaningful and relevant to the real needs of companies seeking to trade in the region.
ABAC was established in 1996. It is comprised of up to three businesspersons from each APEC member economy who are appointed to serve on the Council by the Leaders of their respective economies. ABAC Members represent a range of business sectors, including small and medium enterprises. The council meets on a quarterly basis to assess the regional business climate and develop specific input to APEC officials at the ministerial and working group levels on how "doing business" can be made easier. The Council also meets face-to-face with APEC Leaders during the annual APEC summit to discuss issues of concern to the private sector. ABAC compiles these recommendations in an annual Report to Leaders which is presented to APEC Leaders prior to their annual summit in the fall of each year.
In 2013, Russian Academy of Business was designated as the National Secretariat of Russia for ABAC.
The Academy provides support for the Russian members at each ABAC, prepare materials and conducts meetings with senior business representatives to provide input to the ABAC members.
The ABAC 2013 theme was Partnership, Resilience and Building Bridges to Growth. The 2013 work program built on the achievements of previous years by continuing to focus on regional economic integration, SMME and entrepreneurship and sustainable growth, with particular emphasis on the key areas of infrastructure investment, stable financial markets and sustainable development.
