The third meeting of the APEC Business Advisory Council (ABAC) closed in central Da Nang city on August 27 with petitions against protectionism.

During the three-day meeting, ABAC members discussed recommendations to be submitted to APEC leaders at their summit scheduled to take place in Singapore in November of this year.

ABAC members said that regional countries should be cautious of signs of economic recovery and suggested APEC leaders take measures to ensure that economic recovery is coupled with sustainable development.

They expressed the belief that this may be attained if member economies pledge to say “no” to protectionist measures and boost global, rather than domestic, demand.

Member economies should take this chance to implement economic reforms and create specific roadmaps to bring the Asia-Pacific Free Trade Area into reality, fulfilling APEC’s strong commitment to boosting the integration of regional economies, they said.

The 2010 Doha round of negotiations, if successful, will create a strong push for economic development and global investment as well as prevent the return of protectionism.

According to the 2009 ABAC Chair, Teng Theng Dar, the Council’s recommendations on removing trade barriers have been approved by APEC.

The leaders of APEC economies will start building a model of operation for the Asia-Pacific Free Trade Area, which is expected to be officially up and running in 2011.

Recommendations on global climate change were also tabled in preparation for an upcoming meeting in Copenhagen , Denmark , this December.

Regional corporate leaders also put forth several suggestions on issues of common concern such as climate change, energy, food security, and the impact the trend toward a changing population structure has on the economies of APEC member countries in terms of labour force./.