Representatives from the APEC Business Advisory Council (ABAC) yesterday started a weeklong meeting to finalize their annual report for APEC leaders who will meet in Sydney, Australia on Sept 8-9.

Energy security, climate change, World Trade Organization (WTO) negotiations and investment are expected to be among the major subjects in the report.

According to an APEC website briefing, the council will suggest the Asia-Pacific Economic Cooperation (APEC) leaders set transparent and consistent policy frameworks to give business the certainty necessary to encourage investment in low emissions and energy efficient technology.

The council said there was a need for businesses to improve energy efficiency and conservation.

The council urges members of the WTO to secure a practical outcome from the Doha Development Agenda negotiations.

It calls for promotion of investment and the strengthening of financial markets to underpin regional economic growth.

The suggestions also include harmonization of standards, labor mobility, disease pandemic preparedness and APEC Reform.

Australian Prime Minister John Howard said yesterday that the ABAC will report to APEC leaders in the week. "Effective communication between business and political leaders is very important if APEC is to continue delivering for the business community," he said.

Established by APEC leaders in November 1995 as a permanent body to provide an independent business perspective within the APEC process, ABAC is the sole non-government entity that has an official role and formal dialogue with the leaders of APEC economies each year.

ABAC comprises up to three business representatives from each APEC economy and meet three times a year. In addition, ABAC engages with APEC leaders through the ABAC Dialogue with Leaders, held in conjunction with the annual APEC Economic Leaders Meeting. This year's ABAC Dialogue with Leaders is scheduled on Saturday in Sydney, Australia.