Aboitiz: Cebu to host ABAC III meet from July 27 to 30

DAVAO CITY—CEBU City is the next venue of the third leg of the Asia-pacific Economic Cooperation (APEC) Business Advisory Council (ABAC) meeting to further discuss business and other private sector initiatives in the Asiapacific region.

This was confirmed by Sabin M. Aboitiz, President and CEO of the Aboitiz Group and who serves as vice chairman of the 2023 ABAC Sustainable Growth Working Group (SGWG).

“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,” Aboitiz said.

The ABAC Philippines is the next host of the meeting after it received the honors from ABAC Brunei, which hosted in April the ABAC II meeting in Bandar Seri Begawan. The ABAC said the Brunei meeting was attended by delegates from across the Asia-pacific region as they discussed economic growth, trade, and investment in the region.

The ABAC Philippines has adapted the theme “Equity, Sustainability, and Opportunity” to put the spotlight on the critical role of micro, small, and medium-sized enterprises (MSMES) in the global economy, as well as the evolving environment, social, and governance (ESG) investing landscape.

“The Philippines, known for its vibrant culture and resilient economy, offers a perfect backdrop for this important gathering. An archipelago of thousands of interconnected islands, the nation embodies the spirit of cooperation and collaboration that underpins the APEC economies. Like the islands that work together to create a cohesive whole, the APEC economies are interconnected and interdependent, each contributing to the larger ecosystem. Working together, APEC economies can navigate the challenges and seize the opportunities that lie ahead, working towards a shared vision of sustainable and inclusive growth for all,” the ABAC Philippines said.

ABAC Philippines Chair Tomas Alcantara said the country “is 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.”

Aboitiz, Alcantara and ABAC Philippines member Joanne de Asis, who is the country lead for the Financial Task Force, would play the key role in the Philippine hosting of the meeting.

“As ABAC members, we are committed to promoting sustainable and equitable growth in the region. We believe this meeting will provide another valuable platform for discussion and collaboration on important issues we face,” de Asis said.

The ABAC Philippines said its hosting of the meeting would showcase the Philippine potential “as an investment destination and to foster greater regional cooperation and integration.”

“This is illustrated in the ABAC 3 invitational video conceptualized and produced by Presidential Adviser on Creative Communications Secretary Paul Soriano and his team from the Office of the Presidential Adviser on Creative Communications [OPACC],” it said.

The Cebu conference would be held at the Nustar Convention Center from July 27 to 30, 2023 with more than 200 delegates and guests from the 21 APEC economies.

The APEC Business Advisory Council was established by APEC leaders in 1995 to provide a private sector perspective towards achieving free and open trade and investments in the Asia Pacific region, an APEC briefer said. 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 regional economic integration.