| Abstract | The Asia-Pacific Economic Cooperation (APEC) forum has set up a new advisory group, APEC Business Advisory Council (ABAC), to involve the private sector in plans to hasten trade and investment liberalization. ABAC's permanent council consists of three business leaders from each of the 18 others are Victor Lo, chairman of the electrical and electronics group Gold Peak, and Victor Fung, chairman of the Hong Kong Trade Development Council. ABAC members have high hopes of seeing their proposals make their way into APEC policy decisions. The work of ABAC marks an important step forward in enhancing the environment for foreign direct investment. This should translate into increased cross-border trade within the region. |
|---|
