Cebu to host Apec’s advisory council meeting in July

OVER 200 delegates and guests are expected to arrive in Cebu in July as the province will host the third leg of the Asia-Pacific Economic Cooperation (Apec) Business Advisory Council (Abac) meeting.

Abac Philippines said on Tuesday, May 23, 2023, that Abac III in Cebu will create opportunities for growth and prosperity in the Asia-Pacific region. It said the group is committed to advancing the interests of the Asia-Pacific business community and contributing to the region’s economic development, adding that the third leg of Abac will provide an opportunity to showcase the Philippines’ potential as an investment destination and foster greater regional cooperation and integration.

Abac III will be held from July 27 to 30, 2023 at Nustar Convention Center in Cebu City, and the attendees will be from the 21 Apec economies, Abac Philippines said in a press statement.

“As we prepare to host Abac in the vibrant heart of Cebu, we stand on the cusp of boundless opportunities and exciting discoveries. Let’s write a new chapter in the Asia-Pacific story, where collaboration sparks innovation, and our shared vision for a prosperous future becomes a reality,” said Sabin Aboitiz, president and chief executive officer of Aboitiz Group.

As vice chair of the 2023 Abac Sustainable Growth Working Group, Aboitiz plays a crucial role in advancing Abac’s efforts to promote sustainable and inclusive economic growth in the region. He is joined by Abac Philippines member Joanne de Asis, who is also the country lead for the Financial Task Force, as well as Abac Philippines chair Tomas Alcantara.

“We are honored to host this important gathering of business leaders from across the Asia-Pacific. We look forward to providing a positive experience here in the Philippines as the Council continues the great work and progress it has achieved in the past two meetings,” Alcantara said.

Before the hosting duties were turned over to the Abac Philippines, Abac II was held in Brunei Darussalam last April.

The four-day meeting in Brunei, which began on April 27, was attended by delegates from across the Asia-Pacific region who discussed various issues related to economic growth, trade and investment in the region. It was during the meeting’s final day that Abac Brunei turned over the hosting duties to Abac Philippines.

Following the theme “Equity, Sustainability, and Opportunity,” Abac Philippines said it aims to encourage more fruitful discussions and collaborations between business leaders, policymakers, and other stakeholders in the region. It said that this year’s theme puts a spotlight on the critical role of micro, small and medium-sized enterprises or MSMEs in the global economy, as well as the evolving environment, social and governance investing landscape.