VietNamNet Bridge - On November 5, the plenary session of the 4th APEC Business Advisory Council (ABAC) Meeting took place at the Ariyana Convention Center in the central city of Da Nang.

ABAC Meeting lasted three days, from November 4-6. Attending the meeting were representatives of 21 APEC member economies. Deputy Minister of Foreign Affairs Bui Thanh Son - Vice Chairman of the National Committee for APEC 2017 - and Hoang Van Dung, Chairman of ABAC 2017 – hosted the opening session.

ABAC was established in 1995 at the 3rd APEC Summit in Japan to promote the role of the private economic sector in APEC cooperation.

The purpose of this fourth session was to complete the report and prepare for a dialogue between ABAC and APEC economic leaders. The main content of the meeting was the development of small and medium enterprises.

During the first day, the 4th ABAC meeting focused discussion on the following contents: the opening meeting of ABAC Chairs and the chairs of specialized working groups; the financial and economic group meeting; and the regional economic integration group meeting.

At the ABAC Meeting, ABAC delegates spent time discussing recommendations on promoting, developing the private economic sector, economic integration, sustainable and creative economic development, and APEC financial capability, human resources in the digital age, and building a vision for APEC after 2020. These reports were presented to APEC leaders during the summit week.

The 4th session is also the last session of ABAC in 2017, which offered conclusions for some of the contents of the 2017 APEC Program before being handed over to the host of APEC 2018, Papua New Guinea.

Earlier, on the afternoon of November 4, the ABAC meeting kicked off with the meeting of the APEC Financial Forum and the group meeting on APEC Financial System Capability Building.

Nguyen Thanh