GUIDELINES ON
THE APEC BUSINESS ADVISORY COUNCIL
(Co-chairs' Proposal)

Structure:

Each of the APEC economies will appoint no more than three representatives to the APEC Business Advisory Council(ABAC) from the business/private sector. These representatives should reflect the intersts of a broad spectrum of the sector, including small and medium-sized enterprise. In appointing their representatives and deciding upon the terms of their appointments, each APEC economy should take into account the need for some degree of continuity.

ABAC will be asked to find appropriate ways to engage other regional business/private sector organizations, such as PBEC, PECC and APB-NET, in APEC activities.

ABAC itself will determine the structure and function of the ABAC Secretariat. The Institute for Policy Studies in Singapore is expected to provide assistance in the initial stages.

Funding

The funding for ABAC will not be provides by the APEC Central Fund but by other sources including the business/private sector; however, in the initial year of operation, the APEC Central Fund may disburse funds to assist with ABAC expenses.

ABAC Activities:

ABAC will have two main functions. One will be to provide advice on implementation of the Action Agenda and on other specific business sector priorities. Its second function will be to respond when various APEC fora request information about business-related issues or the business perspective on specific areas of cooperation.

ABAC will provide reports on its activities to the Leaders, as well as to the Ministers through the Senior Official Meetings.

Initial Phase:

(1)1996, first quarter:APEc economies will appoint the first ABAC representatives.
(2)1996,first harf:Inaugural meeting of ABAC will be held.
(3)1996 APEC Ministerial Meeting:ABAC wil rport its decisions on structure, funding and activities.

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