5. We welcome the concrete results achieved this year in implementing the trade and investment liberalization commitments we set out at Subic Bay. We recognize efforts made by members to improve the commitments in their individual Action Plans. APEC's collective achievement in enhancing the comparability and transparency of these plans is important in ensuring that our undertakings are well understood in the marketplace. The views of the private sector are critical to ensuring that APEC's efforts remain focused and on target. In this regard, we welcome the review of the Manila Action Plan for APEC which was carried out by the APEC Business Advisory Council, and instruct our ministers to take ABAC's views into consideration in the preparation of future plans. As individual Action Plans remain the core mechanism for APEC's trade and investment liberalization activity, we reaffirm our commitment to their annual improvement.