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APEC - Working for Business

Promoting and sustaining economic prosperity in the Asia-Pacific is at the heart of APEC’s mission.  That’s why member economies work closely with the business community in their on-going endeavours to provide an environment which boosts commerce by promoting opportunities to expand trade and investment and create jobs.  Reducing unnecessary and often burdensome regulation, its associated red tape, and improving transparency in business regulation are important aspects of this effort.  

The APEC-business relationship is especially important when it comes to trade facilitation.  Reforming and improving ‘at-the-border’ processes leads to the more efficient delivery of goods and in doing so assists in reducing costs for importers, exporters, and consumers.  Recognising this, APEC engages business in its trade facilitation activities through industry participation at dialogues and symposiums, the outcomes of which help inform the APEC’s work programme.  

An important partner for APEC in this work is the APEC Business Advisory Council (ABAC).  ABAC was created by APEC Economic Leaders in November 1995 to advise them on the implementation of APEC’s trade agenda and to provide input on business-related issues and perspectives across the APEC agenda.  ABAC members, who are appointed by APEC Leaders, represent a range of business sectors, including small and medium enterprises.  In addition to advising APEC Leaders, ABAC representatives actively participate in APEC fora at all levels where they inject business views.

Measurement and Reporting

Collective Actions/Pathfinders

CTI has agreed that sub-fora will identify Key Performance Indicators (KPIs) for collective actions/pathfinders against which progress can be monitored.  While it will be for each sub-fora to decide the most appropriate KPIs for their activities, these might include time savings, transaction costs savings, enhanced capacity and enhanced security.  CTI has also agreed that sub-fora will devise an appropriate methodology to report progress at CTI III each year taking into account their particular circumstances.  Sub-fora will advise CTI of KPI’s and reporting methodologies at SOM I 2008.     Progress reports from sub-fora will be included in the CTI annual report and will be used to update Ministers at the APEC Annual Ministerial Meeting. A template to assist collective action/pathfinder reporting is at Annex D

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