The APEC Business Advisory Council (ABAC) is the official business advisory body within the framework of the Asia-Pacific Economic Cooperation (APEC). Established in 1995 by APEC Leaders, ABAC is tasked to provide direct recommendations to APEC Economic Leaders on strategic issues regarding trade, investment, economic integration, innovation, sustainable development and other global challenges.

ABAC is the only business mechanism included in the official agenda of the APEC Leaders' Meeting, through the ABAC Dialogue with APEC Leaders. ABAC members are officially appointed by the leaders of each APEC economy. Each economy may appoint up to three members and three alternates who are typically prominent business leaders or executives from prestigious corporations and trade promotion agencies. This ensures the voice of the business community is sincerely, deeply and directly reflected in the highest policymaking processes.

Since 1995, ABAC has served as the voice of the Asia-Pacific business community, acting as a bridge between businesses and APEC leaders. Its main role is to convey the views, perspectives, and aspirations of businesses to APEC’s high-level forums. ABAC involves building and proposing policies that promote trade, investment, digital transformation, and sustainable development. It also strengthens public-private partnerships and supports the development of micro, small and medium-sized enterprises (MSMEs). ABAC contributes to defining the region’s long-term economic priorities, thereby fostering a sustainable and prosperous Asia-Pacific economic community.

In 2025, South Korea assumes the APEC chairmanship and concurrently holds the ABAC chairmanship. ABAC is convening four annual meetings under the overarching theme “Bridge. Business. Beyond” with a focus on free trade, digital transformation, sustainable development and inclusive growth. The third ABAC Meeting is one of four official meetings held in 2025, where members deliberate and agree on policy recommendations to be presented to APEC Leaders as well as letters to APEC Ministers. Expected topics for discussion at the third ABAC Meeting include: Free, fair and sustainable trade and investment; Digital transformation and innovation; Capacity building for MSMEs; Green finance, inclusive growth, and sustainable development; Health security and resilient supply chains in the face of global uncertainties; and businesses’ roles in achieving sustainable development goals (SDGs).

The outcomes of the third ABAC Meeting holds strong significance and will be integrated into ABAC’s official report to be submitted to APEC Leaders at the ABAC Dialogue with APEC Leaders scheduled for early November 2025 in South Korea.

Vietnam’s hosting of the third ABAC Meeting is not only an important diplomatic event but also offers substantial practical value. It presents a major opportunity for Vietnam to affirm its active role in regional economic integration while also underscoring its strong commitment to the principles of free trade, inclusive growth, and sustainable development - the core values that APEC and ABAC jointly uphold.

The meeting is also a valuable occasion to promote the images of the Vietnamese country, people and culture to the international community. This contributes to enhancing Vietnam’s national position, supporting its economic diplomacy strategy, and boosting tourism and the attraction of high-quality investment in the long term.