The United States welcomes the appointment of Ed Rapp, group president and CFO of Caterpillar Inc., to the Asia-Pacific Economic Cooperation Business Advisory Council (ABAC) – the official business advisory group to the Asia-Pacific Economic Cooperation forum (APEC).
Mr. Rapp joins the current U.S. ABAC member Bart Peterson, Senior Vice President for Corporate Affairs & Communications at Eli Lilly and Company. These American business executives will join their ABAC counterparts from other APEC economies to advise APEC officials on issues affecting the continued growth and integration of the region’s economy.
APEC is the premier forum for facilitating economic growth, trade, and investment in the Asia-Pacific region. Under APEC, the United States and 20 other economies in a key region of the world come together to promote regional economic integration and tackle a wide range of issues critical for regional prosperity and economic security. One of the distinguishing characteristics of APEC is the extent to which it incorporates private sector input into its work, in particular through ABAC.
ABAC, created in 1995, consists of up to three business representatives from each APEC economy. ABAC meets throughout the year to discuss policy recommendations, undertakes activities to promote trade and investment, and reports annually to APEC Leaders. Mr. Rapp replaces Richard Lavin, also of Caterpillar Inc.
Mr. Rapp has previously served in Caterpillar Inc.’s North American Commercial Division, where he held positions in Planning Support and as district manager of the San Francisco district. He has worked in Johannesburg, South Africa as area manager and in Geneva, Switzerland as Europe Region Manager and department manager in Building Construction Products and Europe Region Manager. He also served as Vice President of the Europe-Africa-Middle East (EAME) Marketing Division. Mr. Rapp has a B.A. in finance from the University of Missouri-Columbia and is a graduate of the University of Illinois Executive Development program. He is a member of the board of directors of FMGlobal and Junior Achievement (J.A.) USA. He is also a member of the University of Missouri College of Business Strategic Development Board.