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					        APEC Forum

Asia Pacific Economic Co-operation
             APEC Forum
• APEC is the premier forum for facilitating
  economic growth, cooperation, trade and
  investment in the Asia-Pacific region
        Birth of APEC 1989
• APEC begins as an informal Ministerial-
  level dialogue group in Canberra, Australia
  in 1989
• 12 founding members:
  – Australia, New Zealand
  – 6 ASEAN economies
  – Japan and South Korea
  – Canada and the United States
Expansion of APEC 1991-1998
• 1991: China, Taiwan, & Hong Kong
• 1993: Mexico & Papua New Guinea
• 1994
  – Chile
• 1998
  – Russia
  – Vietnam
  – Peru
           APEC Members
• APEC has 21 “member economies”
• a population of over 2.6 billion
  – more than 40% of the world’s population
• a combined GDP of 21 trillion US dollars
  – More than half of world GDP
• nearly half 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 Secretariat
• Based in Singapore
• Executive Director
  – from the “host economy”
  – Singapore in 2009
• Deputy Executive Director
  – from the “host economy” of the next year
  – will become fixed 3-year term starting 2010
• mostly diplomats
         Policy Development
• Economic Leaders’ Meeting
• APEC Ministerial Meeting
  – Annual APEC Ministerial Meetings of foreign
    and economic/trade ministers
  – Held immediately before Economic Leaders’
    Meetings
• Sectoral Ministerial Meetings
  – edu., energy, env., fin., HR, sci-tech, sme, t.t.
         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)
• Free and open trade and investment in the
  Asia-Pacific
  – by 2010 for developed economies
  – by 2020 for developing economies
            ``Three Pillars”
• 3 specific 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
Leaders’ Meetings
• 1995, Osaka, Japan
  – Osaka Action Agenda
  – concerted unilateral liberalization
• 1996, Subic, the Philippines
  – Manila Action Plan
  – all members submitted individual
    action plans
      Individual Action Plans
• Simultaneous start
  – APEC economies began simultaneously the
    process of liberalization, facilitation, and
    cooperation
• Continuous process
  – APEC economies continuously contribute to
    the long-term goal of free and open trade and
    investment
• Differentiated timetables
   Leaders’ Meetings (‘97-‘00)
• Reaffirm ``Bogor Goals”
• Asian Financial Crisis
Shanghai, 2001
• 2001, Shanghai, China
• ``Meeting New Challenges In The New
  Century”
• APEC Leaders Statement on Counter-
  terrorism
    Leaders’ Meetings 2002-2009
•   2002: Los Cabos, Mexico
•   2003: Bangkok, Thailand
•   2004: Santiago, Chile
•   2005: Busan, South Korea
•   2006: Hanoi, Vietnam
•   2007: Sydney, Australia
•   2008: Lima, Peru
         Weaknesses of APEC
•   Decision making by consensus
•   No mechanism for enforcement
•   Absence of priorities
•   Lack of linkage to funding agencies

				
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