What does ABAC mean in PROFESSIONAL ORGANIZATIONS
ABAC stands for the Asia Pacific Economic Cooperation Business Advisory Council. This organization is made up of representatives from private business communities across member countries in the APEC region. The mission of ABAC is to provide advice and recommendations on the development, implementation, and monitoring of policies that promote economic growth in the Asia-Pacific region. The council works to foster dialogue among public and private sectors in order to maintain a prosperous economic environment for its members.
ABAC meaning in Professional Organizations in Business
ABAC mostly used in an acronym Professional Organizations in Category Business that means APEC (Asia Pacific Economic Cooperation) Business Advisory Council
Shorthand: ABAC,
Full Form: APEC (Asia Pacific Economic Cooperation) Business Advisory Council
For more information of "APEC (Asia Pacific Economic Cooperation) Business Advisory Council", see the section below.
Background
The APEC Business Advisory Council, or ABAC, was established in 1995 as an independent body under the auspection of theAPEC Finance Ministers’ Meeting. It was created with the purpose of providing a platform for international businesses to engage in informal dialogue with their respective governments on promoting growth in the region’s economy and creating a sustainable environment for businesses to operate within it. The council is made up of members from every APEC member country who represent their respective business communities. Each member country has three representatives, including one chairperson, who are selected by their national government for their expertise in business and economics. The representatives advise their respective governments on topics related to regional economic integration and other issues related to economic prosperity within the region.
Roles & Responsibilities
ABAC provides advice on topics related to economic integration, trade liberalization, competitive markets, professional development opportunities for small businesses, human resource development opportunities, investment promotion activities amongst other topics directly impacting growing economies within the Asia-Pacific region. It also serves as an effective communications channel between members states and with working level officials responsible for implementing policy decisions across different member countries. Additionally, ABAC contributes towards fostering better understanding between public and private sector organizations regarding doing business across borders while taking into consideration previous policies that have been successful or failed when establishing new ones.
Achievements
Since its establishment 25 years ago, ABAC has contributed heavily towards shaping policies beneficial not only to corporations but also ordinary citizens residing within its member countries. Some of these achievements include promoting trade liberalization across member countries through the Beijing Roadmap initiatives; developing an Improvement Policies Toolkit which provides practical guidance into building an improved investment climate; establishing voluntary guidelines aimed at promoting corporate social responsibility amongst varied enterprises; knowledge exchanges between shareholders throughout various APEC economies; helping integrate Chinese enterprises into larger regional networks; launching a Global Services Network providing more options for investors interested in setting up operations outside their home countries amongst other impressive feats.
Essential Questions and Answers on APEC (Asia Pacific Economic Cooperation) Business Advisory Council in "BUSINESS»ORGANIZATIONS"
What is APEC Business Advisory Council?
The APEC Business Advisory Council (ABAC) is a local advisory committee of business leaders that advise on economic growth and development within the Asia-Pacific Economic Cooperation (APEC). Its member countries are Australia, Brunei Darussalam, Canada, Chile, People's Republic of China, Hong Kong, Indonesia, Japan, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines. Russia, Singapore, Chinese Taipei Thailand and the United States.
Who are members of ABAC?
The members of ABAC include representatives from all 21 APEC countries - Australia, Brunei Darussalam, Canada, Chile, People's Republic of China (including Hong Kong), Indonesia, Japan, Malaysia Mexico New Zealand Papua New Guinea Peru the Philippines Russia Singapore Chinese Taipei Thailand and the United States.
What is the purpose of ABAC?
The purpose of ABAC is to provide advice to Governments and relevant agencies on ways to maximize the potential for businesses in the region to make a contribution to economic growth in APEC economies.It also serves to provide a forum where business people can express their views about policies affecting business within APEC and act as an advocate for business interests with governments.
How often does ABAC meet?
ABAC typically meets three times each year at Summit events. In addition it may hold additional meetings during the year when appropriate or upon request by ministers from various Asian Pacific economies.
What kind of activities does ABAC undertake?
Through its annual reports and dialogue sessions with Ministers and other senior officials during its meetings in Summit host countries ,ABAC provides key recommendations on measures that will improve regulatory environments for businesses across each economy as well as regionally. It also undertakes promotional activities such as trade fairs; conducts research projects; holds seminars; develops policy options papers; provides input into regional initiatives; engages senior government officials in dialogues; and advocates for increased international cooperation between all levels of government in our area.
How do I become involved with ABAC?
The best way to get involved with ABAC is by joining your local chamber or business association and becoming an active participantin their activities related to international trade promotionand/or regional affairs.
Do I need prior experience before joining ABAC?
While having prior experience working internationally is beneficial there are no fixed requirements for becoming a member of ABAC. However you may be asked to show proof of your qualifications upon joining.
Final Words:
Overall, ABAC serves as an important mechanism between governments and corporations enabling them both to identify areas ripe for further growth while avoiding potential pitfalls present when attempting to do business across borders in a globalized world. Through utilizing existing experiences from prior programs developed by the council as well as engaging public-private sector dialogues allows different stakeholders access key information necessary when making decisions about policy implementations resulting in smarter decision making by leaders leading greater economic success over time.
ABAC also stands for: |
|
| All stands for ABAC |