APEC: economy, foreign trade, and investment

EENI- School of International Business

Sub-subject: economy, foreign trade, and investment in the Asia-Pacific Region (APEC). The Bogor Goals 2010. Syllabus:

1. Assessment of Achievements of the Bogor Goals in 2010
2. International Trade in products and services
3. Foreign Direct Investment (FDI) in the Asia-Pacific Markets
4. Economic growth and the improving of social outcomes
5. Trade and investment liberalisation and facilitation: tariffs, non-tariff measures, trade in services, foreign direct investment (FDI), customs procedures, rules of origin
6. Regional Trade Agreements/Free Trade Agreements

Sample of the subject - Evolution of the economy in the Asia-Pacific Region APEC:

Description of the Sub-Subject (APEC: economy, foreign trade, and investment.).

When the APEC (Asia-Pacific Economic Cooperation) Leaders joined in 2004 in Bogor (Indonesia); they implicated to “reach free and open regional trade and foreign direct investment by 2010 for industrialised economies and by 2020 for developing economies.”

The Asia-Pacific Economic Cooperation members agreed to follow this goal by reducing barriers to foreign trade and foreign direct investment and by promoting the free flow of products, services, and capital.

These targets are the “Bogor Goals,” an ambitious expression of common belief of the APEC© that free and open trade and foreign direct investment are fundamental to realise the Economic growth potential of the Asia-Pacific region and improve economic and social results for all APEC economies.

The total of products exported by the APEC economies has risen substantially from USD 2 trillion in 1994 to USD 5 trillion. In the same way, the total of imports increased from USD 2 trillion to USD 5 trillion over the same period. Since 1994, total trade in products of the APEC with the rest of the World has augmented at an annual rate of 7.1% (for both exports and imports).

With respect on foreign trade, the value of intra-APEC trade in products was 2.8 times larger in 2009 than in 1994. The total trade in products of the APEC with the rest of the World grew faster than intra-APEC.

From 1994 to 2009, the share of the foreign trade in products of the APEC with the rest of the World rose from 28% to 33%.

The total imports of the APEC from the rest of the World also grew faster than intra-regional imports. The share of imports of products from the rest of the World grew from 26% to 33% from 1994 to 2009.

Trade in commercial services is becoming more and more important across the APEC region. The total of commercial services exported by the APEC region augmented considerably from USD 432 billion in 1994 to USD 12 trillion (annual growth rate of 7%).

Source: APEC