Asia-Pacific Economic Cooperation (APEC)
| Section | Details |
|---|---|
| Introduction | – Established in 1989 as a regional economic forum. – Aims to promote trade, investment, and economic integration among member economies. – Focused on sustainable and inclusive growth in the Asia-Pacific region. – Secretariat located in Singapore. |
| Objectives | – Trade and Investment Liberalization: Reduce barriers and foster free trade. – Business Facilitation: Improve efficiency and reduce trade costs. – Economic and Technical Cooperation: Provide capacity-building support. – Sustainable Growth: Ensure environmental sustainability and inclusive development. |
| Members as of 2024 | Total Members: 21 Member Economies: 1. Australia 2. Brunei Darussalam 3. Canada 4. Chile 5. China 6. Hong Kong, China 7. Indonesia 8. Japan 9. Korea 10. Malaysia 11. Mexico 12. New Zealand 13. Papua New Guinea 14. Peru 15. Philippines 16. Russia 17. Singapore 18. Chinese Taipei (Taiwan) 19. Thailand 20. United States 21. Vietnam |
| Reports/Indices | – APEC in Charts: Annual overview of key economic indicators. – APEC Regional Trends Analysis (ARTA): Semi-annual report on trade and economic trends. – APEC Services Trade Restrictiveness Index: Analyzes regulatory barriers in services trade. – StatsAPEC: Online database with socio-economic and trade statistics. – APEC Economic Policy Report: Focuses on structural reforms and policy recommendations. – APEC Energy Demand and Supply Outlook: Projects energy trends across the region. – APEC Women and the Economy Dashboard: Tracks progress in women’s economic participation. – APEC Business Advisory Council (ABAC) Reports: Provides private sector insights and recommendations. – APEC Connectivity Blueprint: Outlines strategies for regional integration. – APEC Trade Repository: Provides detailed information on trade and tariff regulations. |
| Instruments | – APEC Putrajaya Vision 2040: Long-term vision for a free and open Asia-Pacific. – Aotearoa Plan of Action: Implementation plan for Putrajaya Vision. – APEC Business Travel Card (ABTC): Facilitates easier business travel. – APEC Connectivity Blueprint: Strategy for seamless regional integration by 2025. |
| Structure | – APEC Economic Leaders’ Meeting: Annual meeting of leaders to set the agenda. – APEC Ministerial Meetings: Sectoral ministers meet to align strategies. – Senior Officials’ Meetings: Regular sessions to implement directives. – APEC Secretariat: Based in Singapore, providing technical and coordination support. |
| Subsidiary Organs | – Policy Support Unit (PSU): Provides research and analysis for APEC initiatives. – APEC Business Advisory Council (ABAC): Offers private sector perspectives. – Working Groups: Address thematic priorities like trade, investment, and sustainability. |
| Committees | – Committee on Trade and Investment (CTI): Oversees trade and investment initiatives. – Economic Committee (EC): Focuses on structural reform. – SOM Steering Committee on Economic and Technical Cooperation (SCE): Coordinates capacity-building activities. |
| Initiatives | – Free Trade Area of the Asia-Pacific (FTAAP): Promotes comprehensive regional trade integration. – APEC Business Travel Card (ABTC): Simplifies travel for businesspeople. – APEC Connectivity Blueprint: Enhances physical, institutional, and people-to-people connectivity. – APEC Green Supply Chain Network: Encourages sustainable practices across supply chains. – APEC Women and the Economy Forum: Promotes gender equality and women’s participation in the economy. – APEC Disaster Risk Reduction Framework: Strengthens resilience and disaster preparedness. – APEC Digital Economy Action Plan: Fosters digital trade and infrastructure development. – Bogor Goals: Targeted free trade and investment by 2020 (foundation for FTAAP). |
