The ABAC was established in 1995 as APEC leaders recognised the integral role of business and the value of representative business advice on key issues.
This private sector body presents recommendations to APEC leaders in an annual dialogue and advises APEC officials on business sector priorities and concerns.
ABAC meets four times per year, and ABAC representatives also attend Senior Officials' Meetings, the Annual Ministerial Meeting and the sectoral Ministerial Meetings. It comprises up to three senior business people from each APEC economy and the appointments are made by the leader of the member economy concerned.
The Asia-Pacific Economic Cooperation (APEC) Leaders' Week meetings opened Sunday in Japan's second largest city of Yokohama with the start of the two-day Concluding Senior Officials' Meeting.
This year's APEC series meetings also include the APEC Business Advisory Council meeting on Nov. 8-10, annual Ministerial Meeting on Nov. 10-11, a CEO Summit on Nov. 12-13 and the 17th Economic Leaders' Meeting on Nov. 13-14.
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