Asia-Pacific Economic Cooperation (APEC)

The objectives of the subject “Asia-Pacific Economic Cooperation (APEC)” are the following:

1. To understand the Bogor Goals and the functions of the APEC;
2. To assess the benefits for the member countries of the APEC as well the areas of cooperation;
3. To know the role of the APEC Commission on Trade and Investment;
4. To analyze the economic integration process and trade among the member countries of the APEC (Free-Trade Area of the Asia-Pacific);
5. To understand the trade liberalization, trade facilitation and investment flows between the APEC Countries;
6. To know the Free Trade Agreements between the APEC Countries.

The Subject “APEC (Asia-Pacific Economic Cooperation).” belongs to the following Online Programs taught by EENI Global Business School:

Doctorate: American Business, World Trade.

Masters: International Business, Foreign Trade.

Languages: or APEC APEC APEC.

1. Credits of the Subject “Asia-Pacific Economic Cooperation (APEC)”: 2 ;
2. Duration: two weeks.

Asia-Pacific Economic Cooperation (APEC).

The objective of the APEC is to strengthen free and open trade and investment in the Asia-Pacific region.

The APEC has twenty-one members, representing 41% of the World population, 57% of the World's GDP and 44% of the global trade.

The member economies of the APEC are Australia, Brunei, Canada, Chile, Hong Kong, Indonesia, Japan, Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, Philippines, Russia, Singapore, Chinese Taipei (Taiwan), Thailand, U.S., and Vietnam.

The Asia-Pacific Economic Cooperation is a forum for assisting the economic growth, cooperation, Foreign Trade, and foreign direct investment in the Asia-Pacific region.

1. The Asia-Pacific region has consistently been the most economically dynamic region;
2. Since the beginning of the APEC in 1989, total international trade has grown 395%.

The Asia-Pacific Economic Cooperation has three official observers Organizations:

1. Association of Southeast Asian Nations Secretariat;
2. Pacific Economic Cooperation Council;
3. Pacific Islands Forum Secretariat.

The APEC has worked to reduce tariffs and other trade barriers across the Asia-Pacific region, creating efficient national economies and considerably increasing the international trade.

The pillars of the Asia-Pacific Economic Cooperation are the Bogor Goals of free and open foreign trade and the foreign direct investment in the Asia-Pacific region by 2010 for industrialized economies and 2020 for the developing economies. These objectives were adopted by the APEC Leaders in 1994 in Bogor (Indonesia).

The APEC focuses on three key areas (the three pillars of the APEC):

1. Regional Trade and foreign direct investment liberalization;
2. International Business facilitation;
3. Economic and technical cooperation.

As a consequence, the intra-APEC trade of products (exports and imports) has grown from USD 1.7 trillion in 1989 to USD 8.44 trillion - an average increase of 8.5% per year; and international trade in goods within the region accounted for 67% of the total external trade of the APEC products.

The APEC is an inter-civilization agreement between the Western Civilization, Sinic - Buddhist, Orthodox and the Islamic Civilization.

Main religions in the Asia-Pacific Economic Cooperation Forum member countries:

1. Christian countries: Australia, Canada, Chile, the U.S., the Philippines, Mexico, New Zealand, Papua New Guinea, Peru, and Russia;
2. Muslim countries: Brunei, Indonesia, and Malaysia;
3. Buddhist countries: Japan, Thailand, Taiwan, and Vietnam. In Singapore, 42% of the population is Buddhist.

(c) EENI Global Business School (1995-2023)
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