Difference between CEO APEC Summit and ABAC Clarified

Bandar Seri Begawan – Chairman of the Chief Executive Officer’s APEC Summit Dato Paduka Haji Hamdillah has clarified the difference between ABAC or APEC Advisory  Council and the Chief Executive Officers or CEO APEC Summit.

In an interview with RTB he explained the significance of the establishment of APEC Advisory Council or ABACis vital due to the involvement of the private sector in the Asia Pacific Economic Cooperation.

He said that the role of ABAC is to advise APEC leaders on trade and economic issues in order to achieve APEC’ s vision for free trade and investment liberalization.

Dato Haji Hamdillah disclosed that 63 members of ABAC from 21 member economies will hold dialogue sessions and discuss the report with the APEC leaders.

He said that participation of the private sectors has become one of the APEC leaders objectives in drawing up the vision agreed at the 1994 meeting in Bogor Indonesia to achieve free trade and investment liberalization.

ABAC, he explained, is the official voice of the private sector while the CEO Summit is an annual meeting for the private sector, which is bigger this year where Brunei plays host to 400 delegates including 63 ABAC members.

Adapted From Radio Television Brunei