On Friday, Asia Pacific Economic Cooperation (APEC) transportation ministers approved a core statement of principles that lay the foundation for business aviation’s growth in the Asia-Pacific region. The framework, which will be used by the ministers to begin drafting business aviation-specific regulations in their respective countries, was developed by a coalition of industry groups, including NBAA, GAMA, the Asian Business Aviation Association (AsBAA) and IBAC.
Asia-Pacific nations are among the fastest growing in the world, with ever-accelerating rates of inbound and outbound investment, NBAA said. The upswing in business activity in the region has increased the demand for reliable access to business destinations throughout the Asia-Pacific region. To that end, the guidelines are expected to produce the regulatory regime for business aviation to operate in a “safe, secure and standardized manner across the region,” the groups said.
“Recognition by APEC that business aviation operations should be treated as non-commercial, with the freedom to fly among all of the economies of the region, is essential to the growth of this vitally important mode of transportation in today’s global business environment,” NBAA president and CEO Ed Bolen said at a press conference yesterday in Beijing. “As has been proved in the United States and other parts of the world, where business aviation travels, investment follows.”