SMA Appointed To APEC Business Advisory Council
By Franz dela Fuente
Aboitiz Group President and Chief Executive Officer Sabin M. Aboitiz was recently appointed as a member of the APEC Business Advisory Council (ABAC), joining two other previous appointees to represent the Philippines.
Aboitiz, together with Alsons Consolidated Chairman and President Tomas Alcantara and Globe Capital Partners Chairwoman Joanne de Asis, are the country members of ABAC.
The three appointees will represent a range of business sectors including small and medium enterprises.
Aboitiz’s appointment letter was signed by President Rodrigo R. Duterte last May 15, 2020.
It is an honor for me to be appointed as a member of the APEC Business Advisory Council (ABAC), and represent the Philippines. The Aboitiz Group, through its 100% acquisition of Gold Coin Management Holdings, has significantly expanded our regional footprint and strengthened our position as a key player in Asia-Pacific. The Aboitiz Group’s participation in ABAC is consistent with our brand promise to advance business and communities — uplifting livelihood, exchanging products and services across the Asia-Pacific region.
- Sabin M. Aboitiz, President and CEO, Aboitiz Group
ABAC was created in 1995 by Asia-Pacific Economic Cooperation (APEC) Leaders to provide advice on the implementation of the Osaka Action Agenda. It currently serves as the voice of the business sector, specifically providing information on business-related issues or providing the business perspective on specific areas of cooperation.
In response to the challenges posed by the COVID-19 crisis, ABAC has drafted recommendations that address its identified work programs on supporting micro, small and medium enterprises, ensuring supply chain resilience, promoting markets for goods and services, and strengthening digital connectivity.
ABAC believes that in adopting various fiscal policies, the government can support the resumption of work and production, which would consequently ensure the smooth functioning of the global supply chain. It also recommended strengthening broadband infrastructure, facilitating cross border data flows, and the application of digitally-enabled technology to support pandemic response and recovery.
ABAC also recommended the removal of export restrictions and bans on essential goods, reduction of non-tariff barriers including the movement of essential workers, and the development of a regional framework strategy on economic and structural responses and future pandemic planning.
This year, ABAC adopted the theme “Integration, Innovation, and Inclusion” and will focus on the following priorities: accelerating trade and investment liberalization, strengthening APEC’s commitment to a rules-based multilateral trading system, promoting trade and services competitiveness and facilitation; digital transformation, inclusive economic growth, building resilient and sustainable communities, and driving a seamless and comprehensively connected Asia-Pacific.