Course summary (Asia-Pacific Economic Cooperation APEC ©)
APEC © has 21 members which account for 41% population of the
world, 54% of world GDP and 44% of world trade
Asia-Pacific Economic Cooperation APEC © 21 member economies are:
Australia, Brunei Darussalam, Canada, Chile, People's Republic of China, Hong Kong, Indonesia, Japan, Republic of Korea, Malaysia,
United Mexican States,
New Zealand, Papua New Guinea, Peru, Philippines, Russian Federation, Singapore, Chinese Taipei (Taiwan), Thailand, United States of America, Vietnam.
Asia-Pacific Economic Cooperation, is the forum for assisting economic growth, cooperation,
trade and Foreign direct investment
(FDI) in the Asia-Pacific region. The Asia-Pacific region has constantly been the most economically dynamic region. Since
the
beginning of APEC in 1989, total
international trade has grown 395%.
Asia-Pacific Economic Cooperation (APEC ©) has 3 official observers
organizations: the Association of Southeast Asian Nations Secretariat, the Pacific Economic Cooperation Council (PEEC) and the
Pacific Islands Forum Secretariat.
Asia-Pacific Economic Cooperation has worked to reduce tariffs and other trade barriers across the Asia-Pacific region, creating
efficient national
economies and considerably increasing International trade).
Key to reaching the vision of Asia-Pacific Economic Cooperation (APEC ©) are the Bogor Goals
of free and open Foreign trade and Foreign direct investment (FDI) in the Asia-Pacific
region by 2010 for
industrialized economies and 2020 for developing economies. These objectives
were adopted by Leaders of APE in 1994 in Bogor (Indonesia).
APEC © focuses on 3 key areas (Three Pillars of APEC):
- Regional trade and Foreign direct investment (FDI) Liberalization
- International Business facilitation
- Economic and Technical Cooperation
As a consequence, intra-APEC © trade of product (exports and imports)
has grown from USD1.7 trillion in 1989 to USD8.44 trillion in 2007 - an average
increase of 8.5% per year; and International trade of product within the region
accounted for 67% of total
external trade of APEC of products in 2007.
Above 30
bilateral Free trade agreements (FTA) have been finished between APEC © Member Economies. As a result of the APEC © trade facilitation Action Plan (TFAP
I) the cost of international business transactions across the region was reduced by 5% between 2002 and 2006.
Example of the course Asia-Pacific Economic Cooperation APEC:
Source: APEC ©
