APEC Business Advisory Council | ABAC Philippines

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About ABAC
  • Mandate

    APEC Leaders, in 1995, established the APEC Business Advisory Council (ABAC) tasked to provide private sector perspective towards achieving free and open trade and investments in the Asia Pacific region (Bogor goals).

    The Council had its first meeting and dialogue with the Leaders in 1996, when the Philippines first chaired APEC. Ambassador Roberto Romulo of the Philippines served as ABAC’s founding chairman.

    Every year, ABAC submits a Report to APEC Leaders which outlines key recommendations focused on trade and investment in goods and services – removing barriers behind the border, at the border and across the border.

    ABAC writes to and engages with Ministers, especially those responsible for Trade, Finance, SME, Energy, Food Security, Health, and Women to address urgent challenges. The Council also participates in APEC committee meetings including sub-fora discussions, as well as initiatives of APEC economies.

  • Structure

    ABAC is composed of three executives per economy, appointed by the respective President or Prime Minister, and their designated alternates. The members meet four times a year, one every quarter, each running 3-4 days.

    ABAC discusses its priorities under five working groups: (1) Regional Economic Integration, (2) Finance and Economics, (3) MSME and Entrepreneurship, (4) Sustainable Development, and (5) Digital Innovation.

    As the voice of business in the region, ABAC provides advice to Leaders – recommending policy and regulatory reforms, as well as initiatives that would help achieve APEC Goals. This is essentially done at the ABAC Dialogue with Leaders which takes place during the Annual Economic Leaders Meeting.

    There is also a Dialogue with APEC Senior Officials during the first ABAC meeting of the year. ABAC reports to APEC officials every after ABAC meeting for updates and alignments.

  • Work Program

    ABAC theme for 2020 is “Integration, Innovation, and Inclusion,” with the following priorities:

    • Accelerating trade and Investment Liberalization by enabling FTAAP.
     Strengthening APEC’s commitment to Rules-Based Multilateral Trading System.
     Promoting Trade and Services Competitiveness and Facilitation.

    Shaping a versatile and sustainable APEC Innovative Society through Digital Transformation, notably through Artificial Intelligence (AI) adoption.
    Maximizing Human Capital Potential for the Digital Future.
    Advancing Digital Transformation, including the shift to a low-carbon economy.

    Promoting Inclusive Economic Growth for MSMEs, Social Enterprise, Women, Youth and Underrepresented Groups via facilitating entry into global markets and new innovation in the Digital Era.
    Building Resilient and Sustainable communities by promoting Green Growth, addressing climate change, and strengthening Food and Energy Security.
    Driving a seamless and comprehensively connected Asia-Pacific balanced on physical connectivity, institutional connectivity and people-to-people connectivity.

Lance Y. Gokongwei
JG Summit Holdings
President & CEO
ABAC Member 2016-2020
Doris Magsaysay Ho
Magsaysay Group of Companies
President & CEO
ABAC Member 2006-2016
Jaime Augusto Zobel de Ayala
Ayala Corporation
Chairman & CEO
ABAC Member 2010-2016
Tony Tan Caktiong
Jollibee Foods Corporation
Chairman & Founder
ABAC Member 2010-2016
William Tan Untiong
Jollibee Foods Corporation
Chief Real Estate Exec/ Secy
ABAC Member 2010-2016
Roberto R. Romulo
AIG (Philippines) Insurance Co.
ABAC Member 1996-2010
Arthur Ty
GT Capital Holdings, Inc.
ABAC Member 2007-2010
Benigno M. Ricafort
Management Centre & Resource Group
ABAC Member 1996-2007
Teresita Sy-Coson
SM Investments Corporation
Vice Chairperson
ABAC Member 2004-2005
Myrna Tang-Yao
Richwell Trading Corporation
President & CEO
ABAC Member 2005
Imelda M. Nicolas
Commision on FilipinosOverseas (CFO)
ABAC Member 2001-2002
Luis P. Lorenzo Jr.
ABAC Member 2001-2002
Jose Luis Yulo Jr.
Chamber of Commerce of the Philippine Islands
ABAC Member 1996-2001