Date: 9 November, 2022
This report contains the recommendations of the APEC Business Advisory Council (ABAC), of which the Foundation is the National Secretariat in Chile, to APEC Economic Leaders in 2022. The Asia-Pacific business community recognizes that this is a time of “great disruption and presents an opportunity for APEC to demonstrate its collaborative nature.” For this reason, to achieve “a rapid and sustained recovery,” ABAC calls on APEC leaders to:
a. Implement monetary policy to keep inflation under control and fiscal policy to head off a wage-price spiral over the short term.
b. Confront the food security crisis.
c. Leverage trade to achieve health goals.
d. Reopen borders safely to restore economic activity to normalcy
To “regain momentum for sustainable, inclusive and resilient growth,” ABAC urges APEC leaders to:
a. Develop a collective response to climate change.
b. Incentivize the transition to the use of more sustainable energy and low carbon technology
c. Accelerate regional economic integration.
d. Take urgent action to invigorate the multilateral trading system
e. Reset and revitalize the micro, small and medium enterprise (MSME) economy
f. Encourage faster and wider uptake of digital technologies across the region
g. Establish smooth, secure, trusted, and inclusive cross-border digital trade and e-commerce
h. Pursue the twin goals of fiscal consolidation and use of fiscal instruments to support structural reforms