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APEC Advisory Arm Holds Session in Moscow
The APEC Business Advisory Council (ABAC) ended its two-day session here Saturday, during which a consensus was reached on the outline of ABAC recommendations to be submitted to APEC economic leaders later this year.
Chinese ABAC Representative Qin Xiao, who currently chairs the private sector arm of the APEC, said the session has agreed upon two main points.
"One is we support the process of globalization and believe it is the way we should go" and the second is the globalization comprises three key elements of "market opening, capacity building
and full participation," Qin told an Xinhua reporter.
The ABAC's work in 2001 is to ensure that APEC remains on track in continuing to liberalize trade and investment while strengthening its work in capacity building and full participation,Qin said.
During the course of the meeting, the second of its kind this year, leading business leaders from APEC's 21 member economies discussed the issues of liberalization of trade and investment,
economic and technology cooperation, globalization, a new round of WTO negotiation, digital gap as well as cooperation in monetary field.
They also met Russia's government officials and top business leaders and attended a presentation on a large number of potential investment projects in Russia.
The ABAC recommendations will be submitted to top leaders of APEC members when both groups meet in Shanghai, China, in October this year.
Some working groups under the council will finalize their work programs and the details of their recommendations over the coming months.
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