APEC

Asia Pacific Economic Co-operation

Group:14
Rohit Jhanwar (113)
Vinay Rachh (132)
Namita Sachan (134)
APEC

 APEC is the premier forum for facilitating

economic growth, cooperation, trade and
investment in the Asia-Pacific region
History

 1989,  Prime Minister BobHawke called for

economic cooperation across the Pacific region. This
led to the first meeting of APEC in  Canberra 

 The first APEC Economic Leaders' Meeting

occurred in 1993 when US president Bill Clinton,
after discussions with Australian prime minister Paul
Keating, invited the heads of government from
member economies to a summit
Birth of APEC

 APEC begins as an informal Ministerial-level

dialogue group with 12 members
 12 founding members:
 Australia, New Zealand
 6 ASEAN economies
 Japan and South Korea
 Canada and the United States
APEC’S VISION

“A community of Asia-Pacific economies, based on the

spirit of openness and partnership which would make
cooperative efforts to:
 Address the challenges of change
 Reduce barriers to trade and investment to enable free
flow of goods, services and capital
 Work towards broadly based economic growth, higher
living and educational standards and sustainable
growth that respects the environment”
Membership
 Australia  China (1991)
 Brunei Darussalam  Chinese Taipei (1991)
 Canada  Hong Kong, China (1991)
 Indonesia  Mexico (1993)
 Japan  Papua New Guinea (1993)
 Republic of Korea  Chile (1994)
 Malaysia  Peru (1998)
 New Zealand  Russia (1998)
 Philippines  Viet Nam (1998)
 Singapore
 Thailand
 United States of America
APEC Members

 APEC has 21 “member economies”

a population of over 2.6 billion
 more than 1/3 of the world’s population
a combined GDP of 21 trillion US dollars
 57% of world GDP
 accounting for 46 percent of world trade
Host Economy

 Every year one of the 21 member economies

 Plays host to APEC meetings
 Serves as the APEC Chair
 Chairs the annual
▪ Economic Leaders’ Meeting
▪ Ministerial Meetings
 Fills Executive Director of the APEC Secretariat
APEC Structure
Leaders’ Meetings

 Held annually since 1993

 1993, Blake Island, Seattle, US
 APEC Leaders Economic Vision Statement
“Bogor Goals”

 APEC
Economic Leaders' Declaration Of
Common Resolve (1994)
 Freeand open trade and investment in the
Asia-Pacific
 by 2010 for developed economies
 by 2020 for developing economies
“Three Pillars”

3specific areas crucial to achieving the Bogor

Goals:
 Trade and investment liberalization
 Business facilitation
 Economic and technical cooperation
“Three Pillars”

 Trade and investment liberalization

 reducing and eliminating tariff
 reducing and eliminating non-tariff barriers to trade
and investment
 opening markets
 Business facilitation
 Economic and technical cooperation
“Three Pillars”

 Trade and investment liberalization

 Business facilitation
 reducing the costs of business transactions
 improving access to trade information
 bringing into line policy and business strategies to
facilitate growth
 free and open trade
 Economic and technical cooperation
“Three Pillars”

 Trade and investment liberalization

 Business facilitation
 Economic and technical cooperation
 assisting member economies build the necessary
capacities to take advantage of global trade and the
New Economy
Role of APEC

 INTEGRATION “AT THE BORDER”

 Building Towards a Possible Free Trade Area of the
Asia-Pacific
 Improving Customs Transparency to Facilitate
Trade
 Facilitating Cross-Border Trade in Services
Role of APEC

 INTEGRATION “BEHIND THE BORDER”

 Improving Ease of Doing Business
 Facilitating Investment
 Supporting Infrastructure Development
 Strengthening Intellectual Property Rights
Role of APEC

 INTEGRATION “ACROSS THE BORDER”

 Measuring Improvements in Trade Facilitation
 Securing Regional Trade
 Building Trade Recovery Capabilities
 Strengthening Digital Economy and Information
Networks
Impact on International Business

 Reduction in trade barriers from 16.9%(1989)

to 5.5%(2004)
 TFAP II to reduce transaction cost by 5% from
2007-10
 Single window strategic plan
 APEC business travel card
Refrences

 www.apec.org

 www.wikipedia.org
Thank you…