APECASIA PACIFIC ECONOMIC

COOPERATION

GROUP 4Euree Paik, Sylvie Park, Yoon Hee H

wang, Sinikka, Han Ju Yi,Amelie Michele

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Table of Contents What is APEC Goal Operation Structure History Achievements Topics of Interest-APEC Project

Involvement Criticisms Conclusion

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Asia-Pacific Economic Cooperation

APEC is…. The largest international

organization in the Asian Pacific region formed in 1989

Forum to promote economic growth in the Asia-Pacific region

Aims to reduce region wide barriers to trade and investment

Aims to foster long-term cooperation in the region

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APEC Overview

Formed in 1989 Currently 21 member economies Goal to promote economic

growth Population of 2.5 billion Cumulative GDP of $19 trillion

(USD) 47% of world trade

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Member Economies 21 “member economies”-

includes political entities - Australia, Brunei Darussalam, Canada, Chile,

China, Hong Kong, Indonesia, Japan, the Republic of Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, the Russian Federation, Singapore, Chinese Taipei (Taiwan), Thailand, the United States of America, Viet Nam

Binds three major trading blocs -Asia, Oceania, America

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Map of APEC

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Policy Goals

1994, Borgor, Indonesia

“Borgor Goals”: free and open trade and investment in the

Asia-Pacific by - 2010 for industrialized economies - 2020 for developing economies.

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Operation Multilateral economic and trade forum 21 member economies take turns hosting

the APEC forum annually - the host at the meeting also serves as a c

hair of APEC Small contributions are made by member

countries - special fundings are available on project b

asis

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Operation Cont’d

Unique Features: APEC requires no treaty obligation from

the member economies Decisions are reached by consensus Commitments are undertaken voluntarily

by member countries

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Three Levels of Operation Policy Level

Working Level

Action Plan Level

annual economic leaders meetings – goals for the following year based on reports and recommendations, create “Leaders Declaration”

project coordination based on the annual agenda and policy goalsSenior Official Meetings (usually quarterly)monitor projects and funding

Each and every member economy is responsible to work in the promotion of economic growth by participating in:Individual Action PlansCollective Action Plans

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Committee on Trade &

Investment(CTI)

APEC Business Advisory Council

Sectoral MinisterialMeetings

Ministerial Meeting

Senior Officials Meeting (SOM)

Leaders’ Meeting

APEC Secretariat

Budget &ManagementCommittee

(BMC)

SOMCommittee on

ECOTECH (ESC)

EconomicCommittee

(EC)

SOM SpecialTask

Groups

Working Groups (11)

Structure

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A PEC Timeline

1989 Canberra, Australiabegins as an informal ministerial

group

1993 Blake Island, USA APEC’s vision outlined

1994 Bogor, Indonesiasetting of “Bogor Goals”

1995 Osaka,JapanOAA–framework for meeting the

Bogor Goals

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Timeline cont’d

1996 Manila, PhilippinesMAPA and ECOTECH established

1997 Vancouver, Canadaendorsing of EVSL & Individual

Action Plans

2001 Shanghai, People’s Republic of ChinaShanghai Accord & Security issues

2003 Bangkok, ThailandHealth Security Issues included

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Achievements Exports increased by 113 %

FDI grew by 210 % and by 475 % in lower

income member countries

Gross Domestic Product grew by a third

As a result of strong economic performance

Poverty in East Asian members fell by a third

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Topic of Interest 1 APEC Social Safety Net

Capacity Building Network (APEC SSN CBN)

Issue of the social dimension strengthen social safety net in the Asia Pacific Region equitable distribution of benefits of globalization

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Topic of Interest 2Agriculture

Agricultural Technical Cooperation Experts’ Group (ATCEG) promotes agricultural technical

cooperation between APEC member economies incorporates work of the FEEEP

program

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Topic of Interest 3Counter Terrorism

APEC Counter Terrorism Action Plans (CTAPs) identify capacity and gaps in

regional security frameworks encourage implementation measures

to combat terrorism

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APEC’s Criticisms Excessive Diversity of Member

States impediment to coalition/integration

Defect of Key Principles-open regionalism-voluntarism

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Concluding Remarks

APEC is an essential forum that clearly has positive impacts on trade liberalization.

Continuous improvement in weak areas is needed to move a step closer to the Bogor goals.

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QUESTIONS?

Thank you everyone… We now welcome any comments

or questions you may have…. ^-^