The Asia Pacific Foundation of Canada serves as the secretariat for Canada's APEC Business Advisory Council (ABAC) members, providing research, analysis, and administrative support. APF Canada leverages its expertise and networks to help members promote Canadian business interests in key areas for the growth and prosperity of the Asia Pacific region.
ABAC is a private sector body consisting of up to three business leaders from each APEC economy. The Council provides recommendations and advice to APEC Leaders and officials on the business sector’s priorities and concerns within the region. APEC’s 21 member economies represented approximately 62 per cent of the world’s GDP and 48 per cent of world trade in 2021. APEC partners are critical to Canada’s economic prosperity with the region, accounting for 82 per cent of Canada’s total merchandise trade (2020). With APEC’s focus on enhanced economic co-operation, private sector engagement through ABAC is essential to APEC to advise leaders on how to improve the business and investment environment within the region.
Current Members
ABAC Canada Activities in 2024
Guided by this year’s theme of “People. Business. Prosperity,” ABAC Canada members led various activities throughout the year in the areas of digital innovation, food security, and energy, while also advancing Canadian priorities of inclusive trade and sustainable growth.
This year, ABAC Canada/APF Canada has produced two major research reports, resulting in recommendations to APEC policymakers in support of Peru’s 2024 priorities:
• Digital Best Practices for Formalizing Informal Economies in APEC
• The Future of Food Security in APEC: Insights from Business Leaders (coming soon)
ABAC IV 2024
In Lima, Peru, Jan, Joseph and the APFC team wrapped up a successful year with the fourth ABAC meeting of 2024. Jan and the Digital Innovation Task Force (DITF) formally launched the new report published by APF Canada: “E-formalization: How the Digital Economy can Unlock & Empower APEC Economies.” The event featured business leaders from Chile, Peru and Thailand who provided insights into their respective informal economies, as well as solutions on how digital tools can support MSMEs to join the formal economy. Read the press release here.
Under Jan’s leadership, the DITF led ABAC to put out its first statement and call to action for APEC ministers responsible for digital innovation to respond to a rapidly growing digital economy. Read the full statement here.
During the meeting, Joseph Fung presented the outcomes of the APEC Food Security Ministerial and Related Meetings to the Sustainability Working Group, highlighting the need for greater public-private partnerships.
APEC Economic Leaders Week & APEC CEO Summit 2024
During the annual APEC Economic Leaders Week in Lima, Peru, ABAC Canada members shared their expertise on food security, the digital economy, and sustainability.
As Vice Chair of the APEC Policy Partnership on Food Security, Joseph participated in a panel on the Future of Food at the NCAPEC Sustainable Futures Forum, while Jan De Silva spoke on digital disruption alongside executives from ACER and Yape at the APEC SME Summit.
Jan also moderated a panel at the APEC CEO Summit with distinguished panelists including Prime Minister Ibrahim and senior executives from Google, Microsoft and Vobile.
ABAC Canada members also attend a High-Level Dialogue with President of the Republic of Indonesia, H.E. Prabawo Subianto and Prime Minister of Malaysia, H.E. Anwar Ibrahim, where Jan De Silva delivered remarks on the importance of enhancing the ASEAN-Canada Partnership.
To round off a successful week, ABAC Canada members sat down with Leaders from Canada, Thailand, Vietnam, and Malaysia to discuss the private sector’s recommendations about how APEC Economic Leaders can respond to the rapidly growing challenges in the region, while ensuring sustainable and resilient growth.
ABAC III 2024
With special guest, His Excellency, Minister Taro Kono, Japan’s Minister of Digital Transformation, ABAC Canada and ABAC Singapore hosted a panel and roundtable on AI and digital now and next priorities for the APEC region with ABAC members and invited guests from the Digital Trust Advisory (DTA)—a group of technology thought leaders offering insights on technology developments, digital policy and governance.
The discussion focused on 4 digital trends for APEC:
• Energy Transition & Digital Energy Needs
• Bridging The New Digital Divide in Compute Access
• Digital Trust and Cybersecurity as necessary enablers for economic formalization
• Preparing MSMEs & Labour Markets For AI-Enabled Processes and Digital Technologies
During the working group meetings, ABAC Canada members provided an update on the ongoing ABAC Canada research projects. Recommendations on digital best practices for formalizing economies, presented by Jan De Silva, were endorsed by the Council while Joseph Fung introduced the key findings from a business perspectives interview series on food security. The meetings concluded with key deliverables including the ABAC letter to food security ministers and SME ministers, both lead by ABAC Canada.
Senior Officials Meeting 3 August 2024
In Trujillo, Peru Joseph Fung attended the APEC Food Security Ministerial and related meetings as the ABAC Vice-Chair to the APEC Policy Partnership on Food Security. He provided key insights on private sector perspectives - highlighting the integral role of private actors throughout the APEC food value-chain. Notably, alongside ABAC Chair Julia Torreblanca, he reiterated the urgency of addressing food insecurity with a whole-of-society approach and presented ABAC’s recommendations to APEC Food Security Ministers.
ABAC Canada Activities 2023
ABAC IV – As Chair of the Digital Innovation Working Group, ABAC Canada’s Jan De Silva led the establishment of a Memorandum of Understanding between ABAC and the ASEAN Business Advisory Council (ASEAN-BAC) to collaborate on digital economy issues. ABAC Canada, alongside ABAC Australia members, also attended the ASEAN Caucus Day: High Level Dialogue as the only non-ASEAN delegation where Jan De Silva directly addressed Indonesian President Joko Widodo.
SOM2 – ABAC Canada’s Joseph Fung attended the plenary session of the Policy Partnership on Food Security in Seattle, Washington. As the ABAC Vice-Chair to the Policy Partnership on Food Security (PPFS), Fung presented the 2023 ABAC recommendations on food security to delegates during the plenary session of the Policy Partnership on Food Security plenary in Seattle.
ABAC II – Joseph Fung convened an expert roundtable of key representatives in AgTech to gather private-sector insights into Regulatory Sandboxes for Agricultural Technology Development, with findings later presented to ABAC’s Sustainability Working Group.
ABAC Canada Activities 2022
ABAC (APEC Business Advisory Council) Digital Working Group (DWG) Report: Towards a Cybersecure APEC: Building a Shared Regional Platform for Cybersecurity
APF Canada, in partnership with ABAC and ABAC (Canada) member Jan De Silva, Chair of ABAC’s DWG and President and CEO of the Toronto Region Board of Trade, is pleased to share this call to action on a shared, regional approach to cybersecurity across APEC in the report.
Cybersecurity sets the foundation for a thriving and inclusive digital economy, making it critical digital infrastructure that must be prioritized across the region. No one economy or business can achieve cyber resiliency on its own. Towards a Cybersecure APEC, released at 2022 APEC Economic Leaders Week, was developed by ABAC’s Digital Working Group (DWG), with cybersecurity experts from across Canada and the APEC region.
The report outlines that strong collaboration between private companies, government, and academic institutions is necessary to minimize the impact of attempted cyberattacks and reduce mitigation costs. It provides recommendations to the leaders of the 21 APEC member economies for collaboration on a shared, regional approach to cybersecurity for business, consumer, supply chain, and trade-related activity.
The report signifies the beginning of a refreshed stream of work to encourage government, corporate, and academic institutions to collaborate on a platform for cybersecurity in the region.
ABAC IV and the APEC CEO Summit was held on November 13-18, 2022 in Bangkok, Thailand.
ABAC III was held on July 26-29, 2022 in Halong, Vietnam.
ABAC Canada hosted the ABAC II Meeting in Vancouver, April 25-28. This high profile business meeting convened ABAC and other stakeholders from across the APEC region.
ABAC Canada organized an ABAC Cybersecurity Symposium on April 25, 2022 in Vancouver along the margins of the ABAC II Meeting. The Symposium convened experts, business leaders, and policy-makers to chart a path forward to a more secure digital future across APEC.
ABAC Canada Activities 2021
ABAC Digital Symposium, 8-11 March, Virtual
ABAC Canada hosted a three-day virtual digital symposium on March 8-11, 2021. The goal of the symposium was to take stock of innovative solutions that could enable member economies to re-open more fully in the midst of the global COVID pandemic, and to explore the enabling conditions needed to deploy them at scale across APEC. To view the recorded event, click here.
ABAC Canada-led Report: Artificial Intelligence in APEC: Progress, Preparedness and Priorities
Artificial Intelligence (AI) promises to revolutionize the global economy, contributing as much as US$16 trillion in additional economic output by 2030 and boosting global GDP by 14 per cent. AI will foster continued economic growth and global integration, particularly in the fast-growing and technologically integrated economies of APEC.
APF Canada, in partnership with ABAC and ABAC (Canada) member Jan De Silva, Chair of ABAC’s Digital Working Group and President and CEO of the Toronto Region Board of Trade, is pleased to share a critical contextual analysis of APEC’s readiness to capitalize on AI in the new report, Artificial Intelligence in APEC: Progress, Preparedness and Priorities.
APF Canada/ABAC Canada Publications
In 2024, Canada is responsible for chairing the CPTPP Commission. As part of the CPTPP’s General Review, Global Affairs Canada commissioned the Asia Pacific Foundation of Canada and ABAC Canada to engage with ABAC business leaders in CPTPP economies on how to improve the CPTPP agreement from the business perspective. ABAC members from Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam shared their experiences, feedback and recommendations in this letter shared with APEC ministers responsible for trade. APF Canada and ABAC Canada will continue to support Canada’s chairing of the CPTPP Commission throughout 2024.
Towards a Cybersecure APEC: Building a Shared Regional Platform for Cybersecurity (2022)
Cybersecurity sets the foundation for a thriving and inclusive digital economy, making it critical for digital infrastructure to be prioritized across the region. No one economy or business can achieve cyber resiliency on its own. Towards a Cybersecure APEC, released at 2022 APEC Economic Leaders Week, was developed by ABAC’s Digital Working Group (DWG), with cybersecurity experts from across Canada and the APEC region. APF Canada, in partnership with ABAC and ABAC Canada Member Jan De Silva were pleased to share this call to action on a shared, regional approach to cybersecurity across APEC.
The report outlines that strong collaboration between private companies, government, and academic institutions is necessary to minimize the impact of attempted cyberattacks and reduce mitigation costs. It provides recommendations to the leaders of the 21 APEC member economies for collaboration on a shared, regional approach to cybersecurity for business, consumer, supply chain, and trade-related activity.
Artificial Intelligence in APEC: Progress, Preparedness and Priorities (2021), an ABAC-Canada led project.
Artificial Intelligence (AI) promises to revolutionize the global economy, contributing as much as US$16 trillion in additional economic output by 2030 and boosting global GDP by 14 per cent. AI will foster continued economic growth and global integration, particularly in the fast-growing and technologically integrated economies of APEC.
APF Canada, in partnership with ABAC and ABAC Canada Member Jan De Silva, was pleased to share a critical contextual analysis of APEC’s readiness to capitalize on AI in this report.
ABAC Meetings & Press Releases
2024
ABAC IV – November 10-12, Lima, Peru. : APEC Business Leaders Call for Bold Actions on Sustainable Growth and Economic Integration
ABAC III – August 1-4, Tokyo, Japan. APEC businesses call for greater action amidst insufficient economic growth and increasing climate risk
ABAC II – April 22-25, Hong Kong, China. Asia-Pacific business leaders rally for robust global trade amidst rising protectionism
ABAC I – February 14-16, Kuala Lumpur, Malaysia. Asia-Pacific business leaders call for greater economic dynamism with people at the center of the APEC agenda
2023
ABAC IV – November 11-13, San Francisco, California, U.S. Embrace collaboration to tackle global challenges in equity, sustainability and trade, say Asia-Pacific business leaders
ABAC III – July 27-30, Cebu, Philippines. Asia-Pacific businesses urge APEC Leaders to act on equity, sustainability and opportunity in an increasingly challenging landscape
ABAC II – April 27-30, Brunei Seri Begawan, Brunei Darussalam. Asia Pacific Business Leaders Call for Forging a New Path on Inclusion, Resilience, and Sustainability
ABAC I – February 12-14, Aukland, New Zealand. Asia-Pacific business leaders call for action on climate and economic inclusion
2022
ABAC IV – November 13-16, Bangkok, Thailand. Business leaders to deliver a strong message at upcoming dialogue with APEC Leaders
ABAC III – July 26 -29, Ha Long, Vietnam. Asia-Pacific Business Leaders to APEC Leaders: Speed up economic recovery and regain growth momentum
ABAC II – April 25-28, Vancouver, BC, Canada. Deepening economic integration and equipping business for dynamic, inclusive and sustainable growth are key to economic recovery, say business leaders
ABAC I – February 15-18, Singapore, Singapore. Embracing challenges, engaging collectively and enabling opportunities are key to Asia-Pacific success, say business leaders
2021
Wellington, New Zealand, 2021: People, Place and Prosperity - Tāngata, Taiao me te Taurikura
About ABAC & APEC
ABAC members meet four times per year where business leaders from across the Asia Pacific discuss key issues facing the region. ABAC representatives also attend Senior Officials' Meetings, the Annual Ministerial Meeting, and the sectoral Ministerial Meetings. ABAC is the sole non-governmental entity that has an official role in the APEC Economic Leaders’ Meeting through an annual formal dialogue.
In addition to member-led projects and initiatives, ABAC also produces several official letters to APEC Ministers for finance, trade, women, energy, small and medium sized enterprises, food security, and health, among others. These letters reflect the priorities of the APEC host economy, and the recommendations are built on consensus amongst the ABAC members from all APEC economies.
Each year, ABAC’s work culminates in the annual closed-door dialogue with APEC leaders where ABAC members also present a set of recommendations contained in their Report to Leaders.
2024 ABAC Work Program
Under Peru’s leadership, ABAC has adopted the theme of “People. Business. Prosperity.” for 2024.
ABAC’s Work is convened through three working groups and two cross-cutting task forces:
- Economic Integration Working Group
- Sustainable Growth Working Group
- Human Development Working Group
- Digital and Innovation Task Force
- Finance and Inclusion Task Force
What is APEC?
The Asia Pacific Economic Cooperation (APEC) is a regional economic forum established in 1989 with the aim of promoting sustainable economic growth and prosperity in the region. APEC is composed of 21 member economies: Australia, Brunei Darussalam, Canada, Chile, Republic of China, Hong Kong China, Indonesia, Japan, Republic of Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, Chinese Taipei, Thailand, the United States, and Vietnam.
2024 APEC Priorities
Trade and investment for inclusive and interconnected growth.
Innovation and digitalization to promote transition to the formal and global economy.
Sustainable growth for resilient development.
For more information, please visit the APEC official website or the Government of Canada website to learn more about Canada and APEC.
