What ABAC Is
The APEC Business Advisory Council (ABAC) is an independent high-level group of business people who advise leaders of the Asia-Pacific Economic Cooperation (APEC) on priority issues for business in the region. ABAC was established by regional leaders in 1995 to provide business input into the APEC forum. ABAC is a strong advocate of sustained and inclusive economic growth. ABAC Papua New Guinea (PNG) operates the PNG ABAC Secretariat and is responsible for the implementation of ABAC initiatives in the country.
How ABAC Works
The Council meets four times a year to develop its report and recommendations which it submits to APEC Leaders at their annual Summit. ABAC conducts its work through a series of Working Groups, addressing such issues as:
ABAC reports to and meets with APEC Leaders and ministers in an annual Dialogue. It uses the opportunity to deliver a strong and consistent message supporting the role of business in creating jobs, promoting greater prosperity and improving the lives of citizens and communities throughout the Asia-Pacific. A high proportion of its recommendations are accepted by Leaders and APEC governments.
Membership and PNG Representation
ABAC brings together up to three senior business executives from each of APEC’s 21 member economies in Asia, North and South America, and Oceania. Members represent a range of sectors and small and medium enterprises as well as large business. ABAC members are appointed by heads of government and report directly to them. PNG’s current representatives are David Toua, Wayne Golding and Isikeli Taureka. Alternate Members are Stan Joyce, Rio Fioco and Augustine Mano.
ABAC brings together up to three senior business executives from each of APEC’s 21 member economies in Asia, North and South America, and Oceania. Members represent a range of sectors and small and medium enterprises as well as large business. ABAC members are appointed by heads of government and report directly to them. PNG's current representatives are David Toua (ABAC Chair), Wayne Golding (ABAC Secretariat Chair) and Isikeli Taureka
November 15-17, 2018
Fairfax Harbour, Port Moresby, Papua New Guinea
The APEC CEO Summit is the premier business event in the Asia Pacific. It gathers Heads of State of the 21 Pacific Rim member economies, business executives, and innovative thinkers to deliberate how to secure shared development and achieve inclusive free trade and investment across Asia and the Pacific. Under Papua New Guinea’s overarching theme for 2018 “Harnessing Inclusive Opportunities, Embracing the Digital Future” The 2018 Summit leaders discuss critical issues and engage in interactive dialogue on the best path forward.