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APEC

APEC

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Published by: Marie Lowe Anderson on Jan 07, 2011
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Marie Lowe Anderson Patricia Maxion Nikka Yanga 3H1 - Internationa Business ABOUT APEC Apec Is the premier

forum for facilitating economic growth, cooperation, trade and investment in the Asia-Pacific region. APEC was established in 1989. APEC is the only inter governmental grouping in the world operating on the basis of non-binding commitments, open dialogue and equal respect for the views of all participants. Unlike the WTO or other multilateral trade bodies, APEC has no treaty obligations required of its participants. Decisions made within APEC are reached by consensus and commitments are undertaken on a voluntary basis. APEC has 21 members - referred to as "Member Economies" - which account for approximately 40.5%1 of the world's population, approximately 54.2%1 of world GDP and about 43.7%2 of world trade. One of the world largest regional economic cooperation organizations, and also one of the most important international multilateral economic cooperation organizations. HISTORY The idea of APEC was firstly publicly broached by former Prime Minister of Australia, Mr Bob Hawke, during a speech in Seoul, Korea in January 1989 Later that year, 12 Asia-Pacific economies met in Canberra, Australia to establish APEC. The founding members were: Australia, Brunei Darussalam, Canada, Indonesia, Japan, Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand and the United States.Then more economies followed. Between 1989 and 1992, APEC met as an informal senior official and Ministerial level dialogue. In 1993, former United States President, Mr Bill Clinton, established the practice of an annual APEC Economic Leaders' Meeting. A moratorium on new membership stands until the end of 2010, at which point APEC member economies will consider whether or not to lift the moratorium. APEC logo (insert picture here. Now and before) In 1991, the Republic of Korea initiated the design of the APEC Logo for the Seoul Ministerial Meeting. The globe-shaped green, blue and white APEC logo was thus adopted in 1991. The logo has come to represent not only APEC, the most important vehicle for regional economic cooperation, but also the hopes and aspirations of the Asia-Pacific region itself. The Logo shows: -The Pacific half of the globe which emphasizes APEC’s membership. -The green and blue colours symbolize the aspirations of the people in the Asia Pacific for a life of prosperity, health and welfare, while the white colour stands for peace and stability. -The shaded areas at the margins illustrate the buoyant outlook for progress and growth for the Asia-Pacific region. The APEC Secretariat undertook an exercise in 2007 to refresh the APEC logo, the most visible expression of the forum's branding and corporate identity. After reviewing proposals that were submitted as a result of an open bid process, Senior Officials approved the new logo at their third meeting in July 2007. The new logo was presented to Leaders and Ministers a few months later when they met in Sydney.Originally adopted in 1991, the globe-shaped green, blue and white APEC logo was refreshed in 2007 to make it more compatible with a wider range of applications. Purpose and Goals To further enhance economic growth and prosperity for the region and to strengthen the AsiaPacific community. APEC has worked to reduce tariffs and other trade barriers across the AsiaPacific region, creating efficient domestic economies and dramatically increasing exports. Free and open trade and investment helps economies to grow, creates jobs and provides greater

9%.These goals were adopted by Leaders at their 1994 meeting in Bogor. •Business Facilitation -As a result of the APEC Trade Facilitation Action Plan (TFAP I) the cost of business transactions across the region was reduced by 5% between 2002 and 2006. it aims to improve the investment environment in Member Economies. while GDP in the rest of the world has less than doubled.apec. promoting and accelerating regional economic integration.org/About-Us/About-APEC/Member-Economies. The word 'economies' is used to describe APEC members because the APEC cooperative process is predominantly concerned with trade and economic issues. significantly outpacing the rest of the world. -The APEC Privacy Framework provides guidance and direction to both APEC Member Economies and businesses on implementing information privacy protection policies and procedures. -Average trade barriers in the region stood at 16. and facilitating a favorable and sustainable business environment.dto mo kunin ung members. enhancing human security. •Trade and Investment Liberalisation. Our initiatives turn policy goals into concrete results and agreements into tangible benefits.APEC also works to create an environment for the safe and efficient movement of goods. APEC's total trade has grown 395%. •Economic and Technical Cooperation .5%.a direct benefit to all. a groundbreaking Investment Facilitation Action Plan was endorsed. Indonesia. Mission Statement •We are united in our drive to build a dynamic and harmonious Asia-Pacific community by championing free and open trade and investment. d ko mapaste d ako naka word e. haha! Achievements and Benefits •Since APEC's inception in 1989. -APEC has also acted as a catalyst in the advancement of World Trade Organisation multilateral trade negotiations over the past 20 years. encouraging economic and technical cooperation. -In 2008. Member Economies APEC has 21 members. services and people across borders in the region through policy alignment and economic and technical cooperation. by 2004 barriers had been reduced by approximately 70% to 5.aspx . The Asia-Pacific region has consistently been the most economically dynamic region in the world. GDP (in purchasing power parity terms) in the APEC region has tripled. Key to achieving APEC's vision are what are referred to as the 'Bogor Goals' of free and open trade and investment in the Asia-Pacific by 2010 for industrialised economies and 2020 for developing economies. with members engaging with one another as economic entities. -Over 30 bilateral free trade agreements (FTAs) have been concluded between APEC Member Economies.opportunities for international trade and investment and it also helps to lower the costs of production and thus reduces the prices of goods and services . In the same period. http://www.

which creates a good external environment for China's reform and opening up and plays a pivotal role in the development of China's relationship with other APEC member economies. APEC set a goal of tripling internet usage in the region and that goal has now been achieved. the nature of CSR is similar to that of APEC. -Development of capacity to implement CSR is therefore critical.5m. accordingly. China pays high attentions to APEC work.-Since APEC first began to undertake capacity building work in 1993. CSR perspectives vary and. -In 2000. so do styles of implementation. and in 2008. Corporate Social Responsibility CSR is a priority to APEC because it involves private sector dialogue and the voluntary adoption of standards. . APEC can stimulate and support CSR activities. to enable them to participate more fully in the regional economy and the liberalisation process. however. In general. it has been recognized that: -CSR can facilitate improved trade and investment environments. more than 1200 projects have been initiated. Across APEC member economies. and Chinese President has himself taken part in each APEC Economic Leaders' Meeting from 1993 to 2009. China has fully taken part in various APEC activities. China & APEC APEC plays an important dynamic role in world economy. and has been one of the key platforms to promote trade investment and economic technology cooperation in Asia Pacific region. as recognised by the 2008 APEC Ministerial Meeting on the Telecommunications and Information Industry. APEC was implementing a total of 212 capacity building projects with a total value of US$13. -APEC's Economic and Technical Cooperation (ECOTECH) activities are designed to build capacity and skills in APEC Member Economies at both the individual and institutional level. It is a logical and synergistic relationship: As the region is home to many influential and international corporations.

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