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The APEC Business Advisory Council (ABAC) was created by the APEC Economic Leaders in November 1995 to provide advice on the implementation of the Osaka Action Agenda and on other specific business sector priorities, and to respond when the various APEC fora request information about business-related issues or to provide the business perspective on specific areas of cooperation.
ABAC comprises of up to three members of the private sector from each economy. ABAC members are appointed by their respective Leaders, and represent a range of business sectors, including small and medium enterprises. The economy determines the term of membership of each appointee as well as its own administrative arrangements and staff support.
The ABAC International Secretariat based in Manila , the Philippines serves all members and all economies and maintains a website. Funding is provided through a system of annual dues, which are structured to reflect the size of each economy, following the APEC formula.

Against the background of continuing fragility in the global economy, ABAC has adopted the theme “Building Asia-Pacific Community, Mapping Long-Term Prosperity”. The 2014 work program builds on the achievements of the past years by focusing on the following:

• Accelerating regional economic integration
• Championing sustainable development
• Supporting SMMEs and fostering entrepreneurship
• Strengthening infrastructure development and connectivity
• Promoting the development and integration of financial markets

To carry forward the work program for 2014, ABAC has established the following working groups with their respective focus areas:

Regional Economic Integration Working Group (REIWG)

• Supporting the WTO and preventing backsliding towards protectionism
• Building towards a Free Trade Area of the Asia-Pacific (FTAAP)
• Advancing a new services agenda
• Furthering investment liberalization and facilitation

Sustainable Development Working Group (SDWG)

• Improving food security
• Enhancing energy security and promoting new energy sources
• Promoting green growth and trade in environmental goods and services (EGS)
• Ensuring a healthy work force to achieve sustainable economic growth

SMME & Entrepreneurship Working Group (SMMEEWG)

• Promoting SMME access to finance
• Facilitating the internationalization of SMMEs
• Enhancing the participation of women in the economy
• Fostering innovative growth

Infrastructure & Connectivity Working Group (ICWG)

• Accelerating infrastructure development
• Facilitating infrastructure financing
• Promoting capacity building to enhance regional connectivity
• Building effective global value chains

Finance & Economics Working Group (FEWG)

• Monitoring and assessing macroeconomic and G20 developments
• Promoting regional financial integration and the Asia-Pacific Financial Forum
• Enhancing foreign direct investment and long-term savings in infrastructure
• Meeting the challenges of urbanization in the Asia-Pacific region
• Promoting financial inclusion/SMME finance and the Asia-Pacific Financial Inclusion Forum

Detailed recommendations will be developed during the course of this year on all priorities identified in the 2014 work program. ABAC’s recommendations will be conveyed to APEC governments through a range of avenues including to APEC Senior Officials, Trade, SME and Finance Ministers and directly to APEC Economic Leaders at the annual Dialogue with APEC Leaders