Members of the APEC Business Advisory Council (ABAC) have highlighted trade, digital innovation and anti-protectionism ahead of the 31st APEC Economic Leaders' Meeting, taking place from Nov 10 to 16 in Lima, Peru.
Under the overarching theme of "Empower. Include. Grow," APEC 2024 will shape policies impacting nearly two-thirds of the global economy.
The ABAC is calling on world leaders to prioritize support for micro, small, and medium-sized enterprises.
The advisory group also noted that digitalization is the key to providing equal access to financing, including venture capital for women and indigenous entrepreneurs.
"Our focus is very much on problems that are borderless and need a solution. So, the digital economy is a really good example. One of the things we found this year is with AI and blockchain rolling out much more, data centers are a big problem. How do we build more data centers, and how do we power them sustainably?" said Janet de Silva, chair of the ABAC Digital and Innovation Task Force.
This year, the ABAC has also issued statements supporting the realization of the Free Trade Area of the Asia-Pacific (FTAAP).
"Protectionism is something that we would advocate against. It just simply doesn't allow for a really seamless resilience economy. We try to work very, very clearly and with urgency to remove all of those impediments so that we can be inter-operable so that we can move seamlessly," said Rachel Taulelei, chair of ABAC's Regional Economic Integration Working Group.
Chinese President Xi Jinping is set to attend the APEC 2024 meeting, marking his sixth visit to Latin America since 2013.
APEC business advisors highlight digitalization, anti-protectionism
APEC business advisors highlight digitalization, anti-protectionism
