APEC Business Advisory Council (ABAC)
The APEC Business Advisory Council (ABAC) was created by the APEC Economic Leaders in November 1995 to provide advice on the implementation of the Osaka Action Agenda and on other specific business sector priorities, and to respond when the various APEC for a request information about business-related issues or to provide the business perspective on specific areas of cooperation.
ABAC comprises up to three members of the private sector from each economy. ABAC members are appointed by their respective Leaders, and represent a range of business sectors, including small and medium enterprises. The economy determines the term of membership of each appointee as well as its own administrative arrangements and staff support.
ASEAN Business Advisory Council (ASEAN-BAC)
The ASEAN Business Advisory Council (ASEAN-BAC) was established by the ASEAN Heads of State and Government (HOSGs) at the 7th ASEAN Summit in November 2001 in Bandar Seri Begawan, Brunei Darussalam. Inaugurated at the ASEAN Secretariat in Jakarta, Indonesia in April 2003, ASEAN-BAC’s primary mission is to provide private sector feedback and guidance to boost ASEAN’s efforts towards economic integration for the creation of an ASEAN Economic Community (AEC). Aside from providing private sector feedback on the implementation of ASEAN economic cooperation, the Council also identifies priority areas for consideration of the ASEAN Leaders and seeks more collaboration between medium and large enterprises with governments to promote inclusive business through conducive rules and regulations; enhance access to financial resources, education; and build capacity for entrepreneurs and underprivileged communities. Accordingly, ASEAN-BAC’s activities are primarily focused on reviewing and identifying issues to facilitate and promote economic cooperation and integration.
East Asia Business Council (EABC)
The East Asia Business Council (EABC) was inaugurated in April 2004 in Kuala Lumpur, as a result of the recommendations from the East Asia Study Group conducted by the ASEAN+3 governments. The EABC comprises three business leaders from each ASEAN member countries, Japan, China, and the Republic of Korea, appointed by the Economic Ministers. It has 3 objectives as follows; 1. To provide a private sector perspective.
2. To feedback on deepening economic cooperation and to promote the region’s economic growth. 3. To take opportunities and strengthen cooperation among the private sectors in ASEAN, China, Japan, and the Republic of Korea, as well as promote intra-regional trade and investment.
Ayeyawady – Chao Phraya – Mekong Economic Cooperation Strategy Joint Business Council (ACMECS JBC)
ACMECS is a sub-regional framework that comprises 5 Mekong countries, namely Thailand, Cambodia, Lao PDR, Myanmar, and Vietnam established to take advantage of the strength and diversity of the four countries to promote balanced development with sub-region.
On behalf of the private sector, ACMECS Joint Business Council (ACMECS JBC) is a private organization that works as an important mechanism to promote the participation of the private sector in the cooperation between member countries. The role of JBS as a driving force of business sector cooperation, and the organization of joint trade and investment promotion activities by government and business sectors could play a significant role in cross-border trade and investment by promoting an ecosystem conducive to the digital economy, e-payment, migrant workers’ remittances facilitation, harmonization of rules and regulations, and development of Common Control Area. The promotion of regional cooperation and information sharing among partner countries are focused on 6 main cooperation branches which are :
1. Trade and Investment Facilitation
2. Cooperation in agriculture and industry
3. Transportation links
4. Tourism cooperation
5. Human Resource Development
6. Public Health Cooperation
Greater Mekong Subregion Business Council (GMS-BC)
Greater Mekong Subregion Business Council (GMS-BC) was established at the 5th GMS Summit 2015. The main goal of the GMS-BC is to foster cooperation and growth of the private sector through information sharing, networking, and public-private sector dialogue. Moreover, to achieve great results, GMS-BC programs will be more attractive, practical, create an intimate bond among the GMS nations’ enterprises, between enterprises and governments and bring great and prominent impacts to the GMS Business Community particularly and the socio-economic development of GMS generally. The activities have been centered to facilitate cross-border trade and transport, through the operation of the GMS Freight Transport Association (GMS-FRETA); to improve the business environment and access to finance for Small and Medium Enterprises (SMEs); to enhance the participation of the private sector in the infrastructure development projects of the GMS Regional Investment Framework (RIF), and to address pre-and-post disaster preparedness and mitigation for GMS enterprises.
The IMT-GT Joint Business Council (IMT-GT JBC)
The Indonesia-Malaysia-Thailand Growth Triangle (IMT-GT) was established in 1993. It provides a regional framework for accelerating the economic transformation of its member provinces and states in the three countries. IMT-GT promotes private-sector growth by exploiting the underlying complementarities and comparative advantages of the participating provinces and states. Therefore, the IMT-GT Joint Business Council (IMT-GT JBC) will act as the focal point of the private sector with a clear mission of encouraging the private sector to pursue trade and investment opportunities created by Vision 2036. It will enlarge its membership base to include MSMEs, SMEs, social enterprises, high-caliber players, and representatives of large corporations. It will solicit, consolidate and prioritize policy inputs and project ideas from its diverse membership base for achieving the inclusive objective of Vision 2036. JBC members will be the key implementers of Vision 2036 projects. As a key member of the Project Implementation Team, JBC will engage in regular dialogue with Working Groups, National Secretariat Meeting, Senior Official Meeting, and Ministerial Meeting to ensure issues and challenges related to the implementation of Vision 2036 are properly and promptly dealt with.