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Master of Commerce (M.Com-I) Semester I (2012-13)
Submitted by VARSHA CHAWLA
SMT. M.M.K. COLLEGE OF COMMERCE AND ECONOMICS BANDRA (W) MUMBAI-50
ASIA-PACIFIC ECONOMIC COOPERATION (APEC)
Master of Commerce (M.Com-I) Semester I (2012-13)
Submitted In Partial Fulfillment of the requirements For the Award of Degree of Master of Commerce (Part-I)
By VARSHA CHAWLA
SMT. M.M.K. COLLEGE OF COMMERCE AND ECONOMICS BANDRA (W) MUMBAI-50
SMT. M.M.K. COLLEGE OF COMMERCE AND ECONOMICS BANDRA (W) MUMBAI-50 CERTIFICATE (2012 – 2013) This is to certify that VARSHA CHAWLA of M.Com (I) Semester I (2012-13) has successfully completed the project on “ASIA-PACIFIC ECONOMIC COOPERATION (APEC)” under the guidance of Prof. MANI IYER & Prof. Dr. K. SHASHIKUMAR. Date:- 03/10/2012 Place:- Mumbai
(Prof. Mrs. Megha Somani) Course Co-ordinator
(Dr. Ashok Vanjani) Principal
(Prof. Mr. MANI IYER) Project Guide
(Prof. Dr. K. SHASHIKUMAR) Project Guide
Thank you. The information submitted is true and original to the best of my knowledge. Miss.Com (I) Semester I (2012-13) hereby declare that I have completed the project on “ASIA-PACIFIC ECONOMIC COOPERATION (APEC)” successfully.DECLARATION Date: 03/10/2012 I. VARSHA CHAWLA . Yours faithfully. VARSHA CHAWLA the student of M.
ASHOK VANJANI.K. I am very much thankful to them for the guidance. SHASHIKUMAR who always motivated and provided a helping hand for conceiving higher education. MANI IYER & Prof. I would express my gratitude to all those persons who directly and indirectly helped me in completing dissertation.ACKNOWLEDGEMENT At the beginning. support and for sparing their precious time from a busy and hectic schedule. College. I would like to thank Almighty God for his shower of blessing.M. Principal of Smt. I would fail in my duty if I don‘t thank my parents who are pillars of my life. K. Finally. The desire of completing this dissertation was given a way by my guides Mr. I am thankful to Dr. MANI IYER & Dr. My sincere thanks to Prof. SHASHIKUMAR. M. K. Dr. VARSHA CHAWLA .
I hereby. declared that information provided in this project is true as per the best of my knowledge. MANI IYER Dr. MANI IYER & Dr. have guided VARSHA CHAWLA for her project. Yours faithfully. Thank you. Mr.DECLARATION Date: 03/10/2012 I the undersigned Mr. SHASHIKUMAR. K. SHASHIKUMAR . she has completed the project ―ASIAPACIFIC ECONOMIC COOPERATION (APEC)” successfully. K.
Asia-Pacific Economic Cooperation (APEC)
Asia-Pacific Economic Cooperation (APEC) is a forum for 21 Pacific Rim countries (formally Member Economies) that seeks to promote free trade and economic cooperation throughout the Asia-Pacific region. Established in 1989 in response to the growing interdependence of AsiaPacific economies and the advent of regional trade blocs in other parts of the world, initially, with the notion to the likely dominance of the sphere of economic influences of the highly industrialized Japan (a member of G8) in the Asia-Pacific region and for the economic interests of Australian agricultural/raw material products to search for new buyers other than the demanddeclining European market, APEC works gradually (to include members of Newly industrialized economy at the time, although the agenda of free trade was a sensitive issue for the developing NIEs, and for ASEAN economies to explore new export market opportunities of the natural resources such as natural gas and seek regional economic integration(industrial integration) by means of foreign direct investment on the behalf of ASEAN) to raise living standards and education levels through sustainable economic growth and to foster a sense of community and an appreciation of shared interests among Asia-Pacific countries. Members account for approximately 40% of the world's population, approximately 54% of the world's gross domestic product and about 44% of world trade. An annual APEC Economic Leaders' Meeting is attended by the heads of government of all APEC members except Republic of China (represented under the name Chinese Taipei) by a ministerial-level official. The location of the meeting rotates annually among the member economies, and until 2011, a famous tradition involved the attending leaders dressing in a national costume of the host member.
In January 1989, Australian Prime Minister Bob Hawke called for more effective economic cooperation across the Pacific Rim region. This led to the first meeting of APEC in the Australian capital of Canberra in November, chaired by Australian Foreign Affairs Minister Gareth Evans. Attended by political ministers from twelve countries, the meeting concluded with commitments for future annual meetings in Singapore and South Korea. Countries of the Association of South East Asian Nations (ASEAN) opposed the initial proposal, instead proposing the East Asia Economic Caucus which would exclude non-Asian countries such as the United States, Canada, Australia, and New Zealand. This plan was opposed and strongly criticized by Japan and the United States. The first APEC Economic Leaders' Meeting occurred in 1993 when U.S. President Bill Clinton, after discussions with Australian Prime Minister Paul Keating, invited the heads of government from member economies to a summit on Blake Island. He believed it would help bring the stalled Uruguay Round of trade talks back on track. At the meeting, some leaders called for continued reduction of barriers to trade and investment, envisioning a community in the Asia-Pacific region that might promote prosperity through cooperation. The APEC Secretariat, based in Singapore, was established to coordinate the activities of the organization. During the meeting in 1994 in Bogor, Indonesia, APEC leaders adopted the Bogor Goals that aim for free and open trade and investment in the Asia-Pacific by 2010 for industrialized economies and by 2020 for developing economies. In 1995, APEC established a business advisory body named the APEC Business Advisory Council (ABAC), composed of three business executives from each member economy.
APEC is the premier Asia-Pacific economic forum. Their primary goal is to support sustainable economic growth and prosperity in the Asia-Pacific region. They are united in their drive to build a dynamic and harmonious Asia-Pacific community by championing free and open trade and investment, promoting and accelerating regional economic integration, encouraging economic and technical cooperation, enhancing human security, and facilitating a favourable and sustainable business environment. Their initiatives turn policy goals into concrete results and agreements into tangible benefits.
APEC currently has 21 members, including most countries with a coastline on the Pacific Ocean. However, the criterion for membership is that the member is a separate economy, rather than a state. As a result, APEC uses the term member economies rather than member countries to refer to its members. One result of this criterion is that membership of the forum includes Taiwan (officially the Republic of China, participating under the name "Chinese Taipei") alongside People's Republic of China (see Cross-Strait relations), as well as Hong Kong, which entered APEC as a British colony but it is now a Special Administrative Region of the People's Republic of China.
Member economy (name as used in APEC)
Date of accession
Brunei (Brunei Darussalam)
China (People's Republic of China)
Hong Kong (Hong Kong, China)
1993 Malaysia 6-7 Nov.1998 Singapore 6-7 Nov.Member economy (name as used in APEC) Date of accession Japan 6-7 Nov.1989 Papua New Guinea 17-19 Nov.1989 Republic of China (Chinese Taipei) 12-14 Nov.1993 Peru 14-15 Nov.1989 New Zealand 6-7 Nov.1991 Thailand 6-7 Nov.1989 Russia 14-15 Nov.1998 Philippines 6-7 Nov.1989 South Korea (Republic of Korea) 6-7 Nov.1989 .1989 Mexico 17-19 Nov.
selected Ministerial Meetings. Senior Officials Meetings. APEC achieves its goals by promoting dialogue and arriving at decisions on a consensus basis. From 2010. the host has also filled the Executive Director position at the APEC Secretariat. . APEC Member Economies report progress towards achieving free and open trade and investment goals through Individual Action Plans (IAPs) and Collective Action Plans (CAPs). multilateral economic and trade forum.1989 Vietnam 14-15 Nov. Until 2009. the appointment will be made on a fixed-term basis (3 yrs) and will be open to candidates from all Member Economies. giving equal weight to the views of all members. It is the only international intergovernmental grouping in the world committed to reducing barriers to trade and investment without requiring its members to enter into legally binding obligations.Member economy (name as used in APEC) Date of accession United States 6-7 Nov. The APEC host economy is responsible for chairing the annual Economic Leaders' Meeting.1998 How APEC operates: APEC . Host Economy Every year one of the 21 APEC Member Economies plays host to APEC meetings and serves as the APEC Chair.A Multilateral Economic Forum Asia-Pacific Economic Cooperation (APEC) operates as a cooperative. the APEC Business Advisory Council and the APEC Study Centres Consortium.
The BMC also monitors and evaluates APEC's project management systems. The Budget and Management Committee (BMC) advises the Senior Officials' Meeting (SOM) on budgetary.since 1999 these have totalled US$3. APEC's Project Database contains information about all APEC projects. Policy Level Policy Development Asia-Pacific Economic Cooperation (APEC) policy direction is provided by the 21 APEC Economic Leaders. and partial or full funding of some projects. These contributions are used to fund a Secretariat in Singapore and various projects which support APEC's economic and trade goals. Japan has provided additional funds . Projects generally Relate to the priorities of APEC Economic Leaders and APEC Ministers Cover the interest of at least several APEC Member Economies Build capacity Improve economic efficiency. . and Encourage the participation of the business sector.between US$ 1. It takes decisions and makes recommendations to Senior Officials to improve project efficiency and effectiveness. administrative and managerial issues. From 2009 onwards. Strategic recommendations provided by APEC Ministers and the APEC Business Advisory Council are considered by APEC Economic Leaders as part of this process.3 million each year. non-governmental institutions and women. APEC activities are centrally funded by small annual contributions from APEC Member Economies . members' contribution will increase by 30% to a total of US$5 million. the hosting of meetings. Instead. These include the secondment of professional staff to the Secretariat. APEC Member Economies also provide considerable resources to assist the operation of APEC. It also works closely with APEC's other Committees to ensure projects remain relevant to APEC's core goals and objectives. Its key responsibility is to prepare the budget for APEC and approve and recommend APEC funding for projects.6 million annually . Since 1997.6 and 4.for projects which support APEC's trade and investment liberalisation and facilitation goals.Funding APEC is not a donor organisation.
Meeting developments In 1997. APEC leaders pushed for a new round of trade negotiations and support for a program of trade capacity-building assistance. which help shape APEC's policy direction. trade negotiations in Paris were held between several WTO members. Jemaah Islamiah leader Riduan Isamuddin had planned to attack the APEC Leaders Meeting to be held in Bangkok in October. small and medium enterprise development. As part of the accord. Thailand by Thai police on August 11. the APEC meeting was held in Vancouver. At the 2001 Leaders' Meeting in Shanghai. leading to the launch of the Doha Development Agenda a few weeks later. The meeting focused on the Doha round of World Trade Organization (WTO) negotiations. In 2003. before he could finish planning the attack. The 2005 Leaders' Meeting was held in Busan. The protesters objected to the presence of autocratic leaders such as Indonesian president Suharto. Chile became the first South American nation to host the Leaders' Meeting in 2004. The agenda of that year was focused on terrorism and commerce. structural reform. The meeting also endorsed the Shanghai Accord proposed by the United States. South Korea. and pursue trade liberalization policies relating to information technology goods and services. He was captured in the city Ayutthaya. and capacity building. APEC has held annual meetings with representatives from all member economies. which is represented by a ministerial-level official. Since its formation in 1989.The following meetings are conducted each year. the annual meetings are named APEC Economic Leaders' Meetings and are attended by the heads of government from all member economies except Taiwan. Beginning in 1993. including the United States and . Weeks earlier. 2003. The annual Leaders' Meetings are not called summits. the meeting committed to develop and implement APEC transparency standards. Controversy arose after officers of the Royal Canadian Mounted Police used pepper spray against protesters. leading up to the WTO Ministerial Conference of 2005 held in Hong Kong in December. and contemplation of free trade agreements and regional trade agreements. emphasising the implementation of open markets. Declarations from these meetings set the policy agenda for APEC. The first four annual meetings were attended by ministerial-level officials. reduce trade transaction costs in the Asia-Pacific region by 5 percent over 5 years. APEC Economic Leaders' Meeting APEC Economic Leaders' Meetings are held once a year in the APEC host economy.
APEC also criticised North Korea for conducting a nuclear test and a missile test launch that year. The APEC USA 2011 Leaders' Meeting was held on Honolulu. . APEC leaders called for a new start to global free-trade negotiations while condemning terrorism and other threats to security. protest activities were peaceful and the security envelope was penetrated with ease by a spoof diplomatic motorcade manned by members of the Australian television program The Chaser. Concerns about nuclear proliferation in the region were discussed in addition to economic topics. energy. trade. transportation and women's affairs. However. Sectoral Ministerial Meetings Sectoral Ministerial Meetings are held regularly covering areas such as education. The APEC Australia 2007 Leaders' Meeting was held in Sydney from 2–9 September 2007. telecommunications and information industry. Extreme security measures including airborne sharpshooters and extensive steel-and-concrete barricades were deployed against anticipated protesters and potential terrorists. 2006 in Hanoi. At the Leaders' Meeting held on November 19. environment and sustainable development. The political leaders agreed to an "aspirational goal" of a 25% reduction of energy intensity correlative with economic development. APEC Ministerial Meeting Annual APEC Ministerial Meetings of foreign and economic/trade ministers are held immediately prior to APEC Economic Leaders' Meetings. Recommendations from these meetings are also provided to APEC Economic Leaders for their consideration. urging the country to take "concrete and effective" steps toward nuclear disarmament. but the meeting schedule was not affected.the European Union. APEC leaders at the summit urged the European Union to agree to reduce farm subsidies. tourism. finance. Peaceful protests against APEC were staged in Busan. human resource development. Hawaii 8–13 November 2011. small and medium enterprises. one of whom was dressed to resemble the AlQaeda leader Osama bin Laden. centered on reducing agricultural trade barriers. Ministers consider the year's activities and provide recommendations for APEC Economic Leaders' consideration. The United States and Russia signed an agreement as part of Russia's bid to join the World Trade Organization. regional science and technology cooperation.
and to identify areas for technical cooperation and capacity building among member economies. and assessment of the effectiveness of competition advocacy efforts. use of tools developed by international organizations. The CPLG. objectives and priorities. Competition Policy and Law Group The implementation of competition policy and deregulation provides markets with a framework that encourages market discipline. to examine the impact on trade and investment flows. the United States. ABAC also meets four times per year and a representative attends Ministerial Meetings. In 1999 APEC Ministers endorsed the APEC Principles to Enhance Competition and Regulatory Reform and approved a "road map" which established the basis for subsequent work on strengthening markets in the region. In 2008 members agreed to change the name of the group to the Competition Policy and Law Group to reflect the fact the regulatory aspects of competition are now being discussed within the framework of the Economic Committee (EC). eliminates distortions and promotes economic efficiency. formerly known as Competition Policy and Deregulation Group. APEC's Competition Policy and Law Group (CPLG) therefore works to promote an understanding of regional competition laws and policies. this seminar explored ways to apply the "APEC-OECD Integrated Checklist on Regulatory Reform. Utilising the APEC-OECD Integrated Checklist on Regulatory Reform Organised by Indonesia. Members‘ Dialogue on Competition Advocacy are also held where views are exchanged on topics related to institutions. The annual report contains recommendations to improve the business and investment environment in the APEC region. was established in 1996. challenges and obstacles and strategies to effective competition advocacy. At CPLG meetings. Challenges to competition policy and competition advocacy efforts are also discussed. when the Osaka Action Agenda (OAA) work programmes on competition policy and deregulation were combined. including recent cases. member economies have the opportunity to update other members on their respective competition policies and laws.APEC Business Advisory Council (ABAC) ABAC provides APEC Economic Leaders with a business perspective on APEC issues through an annual meeting and a formal report." The Checklist provides instruction on a range of public sector . The CPLG meets once annually and its most recent meeting was held in March 2011 in Washington DC.
The seminar covered the two core areas of regulatory reform and competition policy and law. The outcomes were recommendations for actions that would enable APEC member economies to make better use of the Checklist in policy harmonisation. They include: APEC Training Course on Competition Advocacy. (4) Challenges for Cartel Cases in Domestic/International Markets. Competition Policy and Industrial Policy.Two training courses have been organised thus far. ―APEC Training Course on best practices in dealing with abuse of dominant practices in Competition Policy‖. Malaysia in October 2011. APEC Training Course on Competition Policy A training course addressing selected aspects of competition policy is run by CPLG on an annual basis. The training courses run from 2005 to 2009 have focused on the following competition issues: (1) Abuse of Dominant Position. Organisation and Function of Competition Agency. especially in developing economies. (2) Regulation of Business Combination. The next training course. which was held in Penang. the CPLG agreed to hold a series of three new training courses on competition policy over the period of 2010 to 2012. The training courses. which are aimed at contributing towards the "APEC Principles to Enhance Competition and Regulatory Reform". In 2009. competition policy and market openness. APEC Training Course on Effective Mechanisms Against Cartel Offences. Competition Advocacy. . The first of these courses was held in 2005. (3) Competition Policy and Small and Medium Sized Enterprises (SMEs). provide technical cooperation and assistance focused on building capacity. is being proposed for 2012 by Indonesia and Japan. which was held in September 2010 in Viet Nam. The courses are designed to be attended by the staff of competition agencies in APEC economies. Effective Implementation of Competition Policy and Law.reforms that include regulations. and the fifth and last in this series was held in August 2009. (5) Vertical Restraints and Interrelations between Competition Policy and Consumer Protection Policy.
Senior Officials' Meeting Committee on Economic and Technical Cooperation 3. the objectives. Senior Officials guide the activities of the Committees..The Competition Policy and Law Database This Competition Policy and Law Database is managed by Chinese Taipei and covers all APEC member economies. Senior Officials develop recommendations for APEC Ministers and APEC Economic Leaders. and the Committee on Trade and Investment (CTI) is the coordinating body for all of APEC's work in these areas. Senior Officials' Meeting (SOM) Working under direction from APEC Ministers. Experts' Groups. These activities and projects are carried out by four high level committees: 1. Committee on Trade and Investment 2. calls on APEC economies to "gather information and promote dialogue on and study . Working Groups and Task Forces all support the activities and projects led by these four high level committees. Working Level APEC's working level activities and projects are guided by APEC Senior Officials from the 21 APEC Member Economies. Trade and investment liberalisation and facilitation are the cornerstones of APEC's mission and activities. The database gives effect to the Osaka Action Agenda which. necessity. Senior Officials' Meetings are held three to four times a year with the chair from the host economy. role and operation of each APEC economy's competition policy and/or laws and administrative procedures. Economic Committee 4. thereby establishing a database on competition policy.. Budget and Management Committee Sub-Committees. inter alia. Working Groups and Task Forces. The Committee on Trade and Investment also works to reduce impediments to business activity through its Sub-Committees and Experts' Groups. Committee on Trade and Investment (CTI) The Committee on Trade and Investment coordinates APEC's work on the liberalisation and facilitation of trade and investment. .
Sub-Committee on Standards Conformance (SCSC). Intellectual Property Experts' Group (IPEG). and (iii) advancing regulatory convergence and cooperation. Electronic Commerce Steering Group (ECSG). which shows that trade costs within . with the objective of helping APEC economies achieve the Bogor Goals of free and open trade and investment. Group on Services (GOS).8 percent in 2010. when APEC was established. APEC Leaders and Ministers direct its work and APEC Senior Officials provide guidance. The scope of the CTI's work was expanded and further clarified by the Osaka Action Agenda in 1995.9 trillion in 2010.8 trillion in 2010. The CTI oversees: Eight sub-groups: Business Mobility Group (BMG).7 trillion in 1989 to US$9. It works to reduce impediments to business activity in the areas outlined by the Osaka Action Agenda. Average applied tariffs in APEC economies have been reduced from 16.The CTI provides a forum for APEC's 21 member economies to deliberate trade and policy issues. Investment Experts' Group (IEG). APEC's total trade (goods and services) has increased from US$3. accounting for 67 percent of APEC's total merchandise trade. The final assessment of the implementation of APEC‘s Second Trade Facilitation Action Plan (TFAPII) with the assistance of the Policy Support Unit.9 percent in 1989. the CTI focused its work around the APEC 2011 priorities of (i) strengthening regional economic integration (REI) and expanding trade. Those advances and achievements include: A set of guidelines for implementing recommendations and measures to track progress of APEC economies towards achieving Bogor Goals in 2010. (ii) promoting green growth. Sub-Committee on Customs Procedures (SCCP). The CTI was established in November 1993 by the Declaration of an APEC Trade and Investment Framework. and Three industry dialogues: Automotive Dialogue (AD). In 2011.1 trillion in 1989 to US$16. to around 5. Market Access Group (MAG). The 2011 CTI Annual Report to Ministers contains an overview of CTI‘s work in 2011 and outlines advances made by the Committee to take forward its work program. Chemical Dialogue (CD) and Life Sciences Innovation Forum (LSIF). Intra-APEC merchandise trade (exports and imports) has grown from US$1.
and market-driven innovation policy and the specific work to address these issues. The reduction represents total savings for business of US$58. (ii) enhancing small and medium-sized enterprises (SMEs) participation in global production chains. The CTI discussed a proposal for an APEC EGS Technology Dissemination Action Plan. The CTI worked with APEC economies to identify concrete actions to address those barriers related to trade and investment liberalization. and (iii) promoting effective. The set of policies was adopted by APEC Leaders and attached as Annex A to their statement in 2011. An agreement on a methodology to use internal and external indicators for measuring progress towards the 10% improvement of supply-chain performance (i.APEC were reduced by 5% in real terms during the 2007-2010 periods. The identification of three next generation trade and investment issues: (i) facilitating global supply chains. The development of two new pathfinders: Pathfinder to enhance Supply Chain Connectivity by Establishing a Baseline De Minimis Value that seeks to exempt express and postal shipments from customs duties or taxes and from certain entry documentation requirements for shipments and Pathfinder on Facilitating Trade in Remanufactured Goods that ensures participating economies do not apply measures specifically concerning used goods to remanufactured goods. non-discriminatory. . improving the flow of goods and services within the APEC region in terms of reduced time.7 billion. The contribution to the development of a set of policies economies would adopt to promote innovation without distorting global markets. customs inefficiencies and inadequate transport networks and infrastructure. The development of a list of nine barriers that SMEs face in trading in the region. The identification of ―interoperability standards for smart grid‖ as the first emerging regulatory issue to be worked on in 2011 under the APEC Regulatory Cooperation Advancement Mechanism on Trade Related Standards and Technical Regulations (ARCAM) and agreed on a set of recommendations to promote interoperable standards for smart grid. The Committee also contributed to the development of Annex C of the 2011 Leaders‘ Statement on Trade and Investment in Environmental Goods and Services. The substantive progress made in the implementation of the action plans endorsed in 2010 to address the eight chokepoints under the Supply-Chain Connectivity (SCI) Framework as they relate to regulatory impediments. cost and uncertainty) by 2015.e. The advancement of work on liberalizing the trade and investment in environmental goods and services (EGS). in collaboration with the APEC SME Working Group. A proposed set of actions to address the next generation trade and investment issues of ―Enhancing SMEs participation in Global Production Chains‖.
The SCSC also promotes open regionalism and market-driven economic interdependence by encouraging greater alignment of APEC member economies' standards with international standards. In this way. reduced costs and greater integration of production networks.Sub-Committee on Standards and Conformance Harmonised standards and conformance procedures improve the efficiency of production and facilitate the conduct of international trade. to reduce economic disparities among members and to improve overall economic and social well-being. resulting in more rapid trade flows. an APEC Framework for Strengthening Economic Cooperation and Development was adopted to guide members in implementing the Osaka Action Agenda. SOM Committee on Economic and Technical Cooperation The SOM Committee on Economic and Technical Cooperation assists APEC Senior Officials in coordinating and managing APEC's economic and technical cooperation agenda. which is outlined in the Osaka Action Agenda. The objectives of the SCE are to: . In 1996. the SCSC assists the Committee on Trade and Investment (CTI) to achieve APEC's trade and investment liberalisation and facilitation agenda. The Sub-Committee on Standards and Conformance (SCSC) was established in 1994 to help reduce the negative effects that differing standards and conformance arrangements have on trade and investment flows in the Asia-Pacific region. as well as identifying initiatives for cooperative action by member economies. The Senior Officials' Meeting (SOM) Steering Committee on Economic and Technical Cooperation (SCE) coordinates and manages APEC's economic and technical cooperation (ECOTECH) agenda. APEC economies engage in economic and technical co-operation to attain sustainable growth and equitable development in the Asia-Pacific region.
where funding is based on the link between proposals and APEC‘s core objectives. In 2002. five areas have been identified as medium-term ECOTECH priorities: 1. Safeguarding the quality of life through sustainable growth 4. Addressing the social dimensions of globalisation (inclusive growth) 3. Strengthen the implementation of APEC's ECOTECH activities by prioritising work based on Leaders' and Ministers' commitments. In 2012. This framework adopted a holistic approach by: 1. Senior Officials endorsed a new Framework to Guide ECOTECH activities to guide the APEC-funded capacity building and all ECOTECH activities. Revising the APEC ECOTECH priorities 2. Within this new framework. Regional economic integration 2. Introducing a uniform set of criteria for all project funding. . Human security The medium-term priorities will be reviewed again by 2015. Structural reform 5. the ESC was strengthened and transformed into the SOM Steering Committee on ECOTECH (SCE). the SCE conducted an internal review of its working mechanisms and new Terms of Reference were endorsed. this was elevated to the SOM Committee on Economic and Technical Cooperation. In 2005. and coordinating and providing oversight to the work of APEC fora Provide policy guidance on ways to contribute to APEC's ECOTECH goals Coordinate ECOTECH objectives and priorities between the APEC Economic Leaders' Meeting and Ministerial Meetings In 2010. The SCE was first established as the SOM Sub-Committee for Economic and Technical Cooperation (ESC) in 1998.
The EC was established in 1994 and meets twice a year. for instance. The agenda covers five areas for structural policy reform: regulatory reform. public sector governance. The EC also works closely with other relevant APEC fora including the Competition Policy and Law Group and the Finance Ministers' Process. APEC Leaders endorsed an ambitious work programme called the Leaders' Agenda to Implement Structural Reform 2010 (LAISR). Australia. competition policy.Economic Committee (EC) The Economic Committee (EC) has a mandate to promote structural reform within APEC by undertaking policy analysis and action-oriented work. Structural Reform Ministerial Meeting 2008 An inaugural Structural Reform Ministerial Meeting (SRMM) was held in August 2008 in Melbourne. . the Competition Policy and Law Group (CPDG) and the Finance Ministers' Process (FMP) As tariffs have declined in the APEC region. The Economic Committee (EC) works to remove these obstacles by promoting structural reform within APEC. regulations and government policies so that the efficient functioning of markets is supported and behind-the-border barriers are reduced. and strengthening economic and legal infrastructure. corporate governance. attention has gradually shifted to the structural and regulatory obstacles that inhibit cross-border trade and investment by creating behind-the-border barriers to doing business. Structural reform consists of improvements made to institutional frameworks. The EC progresses this mandate in close coordination with other relevant APEC fora. Ministers explored strategies for successful implementation of structural reforms and stressed the importance of robust legislative and institutional frameworks. In 2004. They also engaged in a dialogue with business and considered the importance of structural reform to the private sector.
The workshop in September 2011 was the final series of ANSSR activities held earlier in 2011 and assisted members in their selection of assessment indicators for their domestic ANSSR priorities. and Workshop on Assessing Approaches to Structural Reform in September 2011. among others. getting credit. was held in Hiroshima. ―APEC Seminar on the First Steps of Successful Reform in Doing Business‖. in February 2010. a seminar on "Impacts of Structural Reform and LAISR Stocktake". transport and energy sectors in APEC. and dealing with permits. namely: starting a business. the issue of structural reforms in the telecommunications. The EoDB Phase I seminars and workshops held in 2010 and 2011 included: Workshop on "Reducing Start-up and Establishment Time of Businesses". The Action Plan sets an APECwide aspirational target to make it 25 percent cheaper.Economic Committee Initiatives in 2010 and 2011 The EC undertook various activities in the areas of structural reform. Awareness-building workshops (Phase I) have been conducted on each of the priority areas (see below). including LAISR and the APEC New Strategy on Structural Reform (ANSSR). "Reforming the Regulatory System for Construction Permits‖. second." a number of capacity building programmes were carried out in 2010 and 2011 focusing on the necessary regulatory reforms in the five priority areas. including: Symposium on APEC's New Strategy for Structural Reform 2011 (ANSSR Symposium) in May 2011. Japan. These priority areas are the focus of the APEC "Ease of Doing Business (EoDB) Action Plan. discussing three areas: first. and third. and current attention is on developing more customised capacity building measures in those economies that have sought specific assistance on their reform efforts (Phase II). the Ease of Doing Business (EoDB) plan and regulatory reform. On structural reform. Led by "champion economies. Workshop on ―Enforcing Contracts‖. The EC had in 2009 identified five priority areas for regulatory reform in APEC economies." which was launched by Leaders in 2009. with an interim target of a 5 percent improvement by 2011. ANSSR Residential Training on Structural Reformin August 2011. faster and easier to do business within APEC economies by 2015. drawing on the findings of a PSU research project. trading across borders. Since 2011. enforcing contracts. an examination of the impacts of those reforms. and ―APEC Seminar on the First Steps of Successful Reform in Doing Business‖. a stocktake of the progress that has been made in implementing the LAISR. a series of capacity building events have been held to build specific understanding of what ANSSR will seek to accomplish. . Seminar on "Getting Credit for Small and Medium Enterprises".
strengthen small. the pilot phase MYPs commenced in November-December 2011 with a review of the pilot scheduled for 2013. Budget and Management Committee (BMC) The Budget and Management Committee advises the SOM on budgetary. Australia. focusing on how regulatory impact analysis (RIA) can be used to help develop more effective and transparent regulations. These include activities which aim to promote trade facilitation. which can also contribute to improved public consultation in the rulemaking process. improve human resource development. higher value. With regard to the area of regulatory reform. In 2011. Hong Kong. in February 2010. improve knowledge and information sharing in areas such as climate change. It also monitors and evaluates project management aspects of the operations of Committees and Working Groups and makes recommendations to SOM for improved efficiency and effectiveness. an "APEC-OECD Joint Seminar on the APECOECD Integrated Checklist on Regulatory Reform on Japan" was held in Hiroshima. Aside from Japan. The workshop on ―Using Regulatory Impact Analysis to Improve Transparency and Effectiveness in the Rulemaking Process‖ was held in Washington DC in March 2011. China. A key reform progressed by the BMC in 2011 includes the commencement of more strategic. and promote capacity building.5 million. This Seminar shared the results of Japan's self-assessment under the Integrated Checklist among the EC members and discussed the further utilisation of the Checklist to facilitate regulatory reform in the Asia-Pacific region. administrative and managerial issues. Chinese Taipei. access to finance. The BMC also approved a range of policies and procedures relating to APEC projects in 2010 . medium and micro enterprises. A total of six MYP projects have been approved in the last two project approval sessions. the BMC approved 138 projects at a total value of US$14. multi-year APEC projects. the other APEC economies to have conducted an assessment are the United States. and Korea. Following the BMC‘s approval of the policy guidelines and templates for Multi-Year Projects (MYP) in March 2011. agricultural productivity and energy efficiency. Japan. The workshop on ―Advancing Good Corporate Governance by Promoting Utilization of the OECD Principles of Corporate Governance‖ was held in Washington DC in March 2011 and discussed the 2010 APEC Economic Policy Report on Corporate Governance specific steps that can be taken to enhance regimes for corporate governance with reference to the OECD Principles for Corporate Governance.
The BMG is dedicated to working on initiatives that improve the efficiency and comfort of APEC business travelers. timing and approach for conducting longer term evaluations of APEC projects to improve the existing system for tracking project progress and reporting on project results. The BMC approved the scope. In so doing. Working Groups Working Groups carry out APEC's work in specific sectors as directed by APEC Economic Leaders. Work on the proposed evaluations will commence in 2012 following the establishment of the BMC Small Working Group on Evaluations to guide this process. Since its establishment. easier. APEC Sectoral Ministers and Senior Officials. The current edition of the Guidebook (Edition 8) incorporating these changes took effect in June 2012. APEC member economies are committed to enhancing business mobility by exchanging information on regulatory regimes and streamlining immigration processes for business travellers and temporary residence of business people. Business Mobility Group The mobility of business people is a key factor in the promotion of free and open trade. while ensuring passenger safety and border security. It is one the areas of the Osaka Action Agenda (OAA). . the group maintains close consultation with the business community. The recognition of the importance of mobility in the region is reiterated in the 2011 APEC Economic Leaders‘ Declaration which endorsed the APEC Travel Facilitation Initiative to explore ways to make travel in the region faster. APEC Ministers. There are currently 11 Working Groups. In response to the OAA. the Business Mobility Group (BMG) was formed in 1997 when the APEC Business Advisory Council (ABAC) made the facilitation of business travel a priority. adopted by APEC Economic Leaders in 1995. Further strengthening of the capacities of the Secretariat‘s Project Management Unit (PMU) is proposed through the upgrading of the Project Database. and more secure.and 2011. A digitized version of the new guidebook will be available in July 2012. in the development of the APEC Business Travel Card (ABTC) scheme and other BMG initiatives. represented by the ABAC. the group is to enhance cooperation with other relevant APEC working groups.
the United Nations Centre for Trade Facilitation and Electronic Business. The Electronic Commerce Steering Group (ECSG) promotes the development and use of electronic commerce by creating legal. Reports presented by guest organisations to the group. It performs a coordinating role for APEC ecommerce activities. the International Chamber of Commerce. The ECSG recognises the importance of public-private collaboration in developing an environment conducive to e-commerce and encourages the active participation and contribution of the private sector to its meetings and activities. transparent and optimised to enable economies across all levels of development to utilise Information and Communication Technologies (ICTs) to drive economic growth and social development. Ad-hoc Groups have also been established in APEC to provide topical and relevant information or to fulfill important tasks not being covered by other groups. The ECSG also explores how economies may best develop legal. the Pan Asian E-Commerce Alliance. the ECSG was aligned to the Committee on Trade and Investment (CTI) in 2007. . and the Internet Society are a welcome contribution to the ECSG. This alignment enhances the coordinating capacity of the ECSG by ensuring a stronger focus on trade and investment issues. the Organisation for Economic Co-operation and Development (OECD). transparent and consistent. Electronic Commerce Steering Group The amount of trade conducted electronically has grown exponentially and electronic commerce has transformed many industry sectors and the way business is done.SOM Special Task Groups/Ad-hoc Groups Senior Officials set Special Task Groups to identify issues and make recommendations about important areas for APEC's consideration. regulatory and policy environments that are predictable. based on the principles set out in the 1998 APEC Blueprint for Action on Electronic Commerce. including the Global Business Dialogue on e-Society. Originally established in 1999 as an APEC Senior Official's Special Task Force. regulatory and policy environments in the APEC region that are predictable.
In 1996. The IPEG implements a work program which aims to: Deepen the dialogue on intellectual property policy. The Investment Experts' Group (IEG) was established by the Committee on Trade and Investment (CTI) in 1994 to develop a set of Non-Binding Investment Principles. . creates jobs. Investment is therefore integral to economic growth and development in the Asia-Pacific region and is the driving force of growth for developing economies. strengthens trade flows and spreads technical knowhow and best practices. In 1997. In recognition of its importance. of intellectual property rights in the Asia-Pacific region based on the principles of the World Trade Organization's Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS Agreement) and other related agreements.APEC's strategic roadmap for achieving free and open trade and investment in the region. raises incomes. through legislative.Intellectual Property Rights Experts Group Intellectual property rights (IPR) protection and enforcement is a key factor for promoting foreign trade and investment. administrative and enforcement mechanisms. IPR was included in the 1995 Osaka Action Agenda . the CTI made the IPR-GT an official APEC group with explicit terms of reference. Study measures for the effective enforcement of IPR. It continues to assist the CTI with its efforts to encourage and facilitate free and open investment in the region. as well as for boosting economic development. The IEG comprises experts on investment and officials responsible for investment policies in all APEC member economies. and it creates opportunities for the private and public sectors to exchange views on investment issues. the Committee on Trade and Investment (CTI) established an Intellectual Property Rights Get-Together (IPR-GT). Fully implement the TRIPS Agreement. The aim was to ensure adequate and effective protection. Facilitate technical cooperation to help economies implement TRIPS Investment Experts' Group Investment drives economic production. Survey and exchange information on the current status of IPR protection and administrative systems. and renamed it the Intellectual Property Rights Experts' Group (IPEG).
trade and investment in the Asia-Pacific region. The Group on Services (GOS) was established by the Committee on Trade and Investment in 1997 to address the TILF tasks in the area of services as mandated in the Osaka Action Agenda and instructed by APEC Leaders. APEC's Group on Services (GOS) works on trade and investment liberalisation and facilitation (TILF) issues related to trade in services.Market Access Group Trade liberalisation through the elimination of tariff and non-tariff measures (NTMs) encourages greater trade and investment flows. the Energy Working Group / Expert Group on Energy Efficiency and Conservation [on environmental goods and services (EGS)]. economic growth. the Group on Services (GOS). These are two of the 15 specific areas outlined in the Osaka Action Agenda through which APEC member economies are working to eliminate barriers to trade. In order to involve business in its work. Senior Officials and the CTI. . Transportation. to its meetings and workshops. To encourage further growth and development in this sector. including the APEC Business Advisory Council (ABAC). Group on Services The services sector generates significant employment. and the World Customs Organization (WCO). Established in 1998 by the Committee for Trade and Investment (CTI). and contributes to APEC's goal of advancing free and open trade and investment in the region. the MAG invites representatives from the business community. creates new business opportunities and jobs in the AsiaPacific.Tourism. the Market Access Group's (MAG) mandate is to advance and integrate the CTI's objectives on tariffs and NTMs. and the Sub-Committee on Customs Procedures (SCCP) and the Electronic Commerce Steering Group (ECGS) [on simplifying documents and procedures relating to rules of origin]. and Energy. GOS works in close collaboration with four service-related APEC Working Groups: Telecommunications and Information. the International Centre for Trade and Sustainable Development (ICTSD). The MAG also works with other APEC groups including: the Sub-Committee on Standards and Conformance (SCSC). Ministers. and coordinates APEC's work in this area.
As part of this framework. Japan. services and capital among APEC Member Economies are transparent. This site provides the ability to search individual APEC Member Economy IAPs.measures undertaken in the context of the APEC Action Agenda are consistent with the principles of the World Trade Organization (WTO). . submitted to APEC on an annual basis. Comparability . This roadmap is known as the Osaka Action Agenda. Non-discrimination . Individual and Collective Action Plans are available through the dedicated e-IAP website.Action Plans In order to meet APEC's Bogor Goals for free and open trade and investment in Asia-Pacific. regulations and administrative procedures in all APEC Member Economies which affect the flow of goods. The following General Principles are provided in the Osaka Action Agenda and are applied to the entire APEC liberalisation and facilitation process Comprehensiveness . APEC Member Economies follow the strategic roadmap as agreed by APEC Economic Leaders in Osaka. business facilitation and sectoral activities.addressing all impediments to achieving the long-term goal of free and open trade.APEC Member Economies endeavor to have comparable trade and investment liberalisation and facilitation. Transparency .reductions in barriers to trade achieved through APEC are available to all APEC Member Economies and non-APEC economies. APEC Member Economies report progress towards achieving free and open trade and investment goals through Individual Action Plans (IAPs) and Collective Action Plans (CAPs). Osaka Action Agenda The Osaka Action Agenda provides a framework for meeting the 'Bogor Goals' through trade and investment liberalisation. General Principles have been defined for Member Economies as they proceed through the APEC liberalisation and facilitation process.compare IAPs across years and view CAPs. underpinned by policy dialogues and economic and technical cooperation.the laws. WTO-consistency . taking into account the general levels achieved by each APEC economy.
continuous process and differentiated timetables . Rules of Origin) Dispute Mediation Mobility of Business People Information Gathering and Analysis Each year. facilitation and cooperation and continuously contribute to the long-term goal of free and open trade and investment. reporting is based on 15 issue areas: Tariffs Non-tariff measures Services Investment Standards and Conformance Customs Procedures Intellectual Property Competition Policy Government Procurement Deregulation/Regulatory Review WTO Obligations (inc. and undertake these actions on a voluntary and non-binding basis. taking into account differing levels of economic development.Economic and technical cooperation contributing to liberalisation and facilitation is actively pursued. This is a record of actions taken to meet its stated goals for free and open trade and investment. Simultaneous start. Individual Action Plans Every Member Economy submits annually an Individual Action Plan (IAP). Cooperation . Flexibility . As specified in the Osaka Action Agenda. Experts conducting independent in-country research and analysis and the involvement of . Known as Peer Reviews. several APEC Member Economies volunteer to have their IAPs reviewed. this process involves a formal review team considering each volunteer economy's IAP.APEC Member Economies deal with the liberalisation and facilitation process in a flexible manner.APEC Member Economies began simultaneously the process of liberalisation.APEC Member Economies do not take measures which have the effect of increasing levels of protection. APEC Member Economies set their own timelines and goals. Standstill .
however. Rules of Origin Rules of Origin (ROO) are the laws and regulations used in international trade to define where a product was made. as well as to monitor and report on progress. The goals of the AD are to engage participants in cooperative efforts to foster the growth and development of the regional auto industry and to provide actionable recommendations to APEC Trade Ministers. the APEC Business Advisory Council (ABAC) are also part of the process. and in the context of Regional Trade Agreements (RTAs) and Free Trade Agreements (FTAs). Collective Action Plans Collective Action Plans (CAPs) detail the collective actions of all APEC Member Economies in the 15 issue areas outlined in the Osaka Action Agenda. to identify barriers to growth and to develop effective cooperation mechanisms for APEC economies to address and reduce impediments. The 15 issue areas mirror the IAP's. Automotive Dialogue The APEC Automotive Dialogue (AD) serves as a forum for APEC member economy officials and senior industry representatives to work together to map-out strategies for increasing the integration and development of the automotive sector within the region. made it increasingly difficult to determine where a product 'originally' comes from. The Committee on Trade and Investment (CTI) has therefore agreed to work towards harmonisation of these rules among APEC member economies. The AD was established in recognition of the crosscutting nature of the automotive industry and of the broad benefits to many economies of trade liberalisation and facilitation in this sector. CAPs are used by APEC to outline actions and objectives to meet the free trade and investment goals. . and in the APEC Groups section of this website. Globalisation of the supply chain has. ROO are important when implementing trade policy tools such as antidumping and countervailing duties. It allows the public and private sectors to work together to improve policy development. since raw materials and parts used to make finished goods are drawn from all over the world.the independent private sector body. More details about CAPs can be found in the Committee on Trade and Investment Annual Report to Ministers publication.
It reflects APEC members' recognition of the importance of engaging with the private sector and building public-private sector dialogue and cooperation for mutual benefit. The 16th Automotive Dialogue (AD) Meeting was held on 28-29 May 2012 in Kazan.29) for proactively pursuing the harmonization of automotive regulations for electric vehicles (EV) before different national standards get established. Malaysia. Issues addressed include chemical sector liberalisation. It was noted that this proposal is consistent with the recommendations made last year at both the Washington and San Francisco AD meetings. chemical trade facilitation and capacity building. Chinese Taipei. Further detailed discussion should be considered as a priority for the next AD meeting. It was proposed that more collaboration take place between the WP. The AD commended the World Forum for Harmonization of Vehicle Regulations (WP. Russia. Chemical Dialogue The chemical industry is a cross-cutting sector that contributes to most industrial and many nonindustrial sectors .The AD first met in 1999 in Indonesia and has continued to meet every year since then. Indonesia.its products are widely traded across borders.29 and the AD. The AD members also supported the proposal that economies share information on updates to their policies in Facilitating the Diffusion of Advanced Technology and Alternative-Fuelled Demonstration Motor Vehicles. The CD also focuses on improving regulatory policies and practices: it seeks workable regulatory programmes which ensure that regulatory. China. with the inclusion of a harmonized plug and communication protocol as part of the EV-GTR currently under development. and environmental goals can be implemented by both governments and business. and it is a key economic building block in APEC economies. Mexico. Thailand. Current active members include Australia. the AD endorsed the development of harmonized electric vehicle safety requirements within the context of a Global Technical Regulation (GTR) under the 1998 agreement. safety. the Philippines. Japan. Canada. . Viet Nam and the United States. Korea. In support of sustainable transportation and regulatory harmonization. The Chemical Dialogue (CD) serves as a forum for regulatory officials and industry representatives to find solutions to challenges facing the chemical industry and users of chemicals in the Asia-Pacific region.
sharing tools and experience with best practices and plan opportunities for collaboration to address common concerns. Switzerland in May 2009. Over the years the CD has conducted numerous workshops to provide economies with information on the GHS and to build capacity to facilitate its adoption. APEC Ministers endorsed the report of the CD's Virtual Working Group on GHS implementation issues entitled Developing Clarity and Consistency in the Implementation of the Globally Harmonized System for the Classification and Labelling of Chemicals as an APEC contribution to the UN's Strategic Approach to International Chemicals Management (SAICM). Evaluation and Authorisation of Chemicals (REACH) legislation. APEC has also shown regional leadership by contributing the groundbreaking APEC Best Practices for Chemical Regulation to the SAICM. The CD has undertaken to coordinate APEC engagement with the EU on these issues. The CD is also addressing APEC member economies' and regional manufacturers' concerns about the potentially trade-distorting effects of the European Union's system of Registration. as well as improving safety and environmental protection.The CD has been active in promoting implementation of the United Nation's Globally Harmonized System of Classification and Labeling of Chemicals (GHS) by APEC member economies. the CD endorsed and transmitted to the European Commission a set of questions and letters on REACH implementation. and in 2008. 2. The GHS is a set of guidelines aimed at simplifying regulations and labeling requirements. Facilitate risk reduction and the sound management of chemicals across the APEC region and as an APEC contribution to broader SAICM implementation. The objectives of the Forum are to: 1. 3. Bridge principles and practice . The guidelines were formulated by APEC officials and industry representatives. Chemical Dialogue Regulators' Forum To support and complement the work of the CD. Share information and knowledge on chemicals management more broadly in the region with the increased and direct involvement of regulators. a Chemical Dialogue Regulators' Forum has been established with regular meetings commencing in 2009. In 2008. Representatives of the CD presented the Best Practices for Chemical Regulation and the GHS Virtual Working Group reports to the second session of the International Conference on Chemicals Management in Geneva. and endorsed by APEC Ministers. and . The SAICM is a policy framework aimed at promoting chemical safety around the world and is an initiative of the United Nations Environment Program.
Discuss the nexus between chemicals management and competitiveness (including for small and medium enterprises).A. safe use and sustainability. The next CD Regulators‘ Forum is scheduled to be held in Jakarta. To encourage member economies to provide case studies for use in Rio+20 and SAICM . To establish virtual working group to develop case studies for GHS implementation for consumer products. with a view to facilitating trade while protecting human health and the environment. and 6. 5. Chemical regulators routinely participate in the work of the Chemical Dialogue. including progressing the UN‘s GHS.T. APEC Trade Ministers in Big Sky. To involve participation of the European Chemical Agency (ECHA) in the CD meeting in 2012. Montana welcomed the continued active commitment to regulatory cooperation for chemicals through a strategic framework that contributes to regional economic integration and regulatory convergence. To establish multi-party virtual working group to develop concept note on conducting Chemical Management Best Practice Seminar. To explore options to refine reporting template to be placed on G. especially through its Regulators Forum. 4. back to back with the OECD Clearing House on New Chemical event. Indonesia in February 2013. The work items in the revised CD Strategic Framework and the current action items include the following: 1. and (3) encourage chemical product stewardship. In May 2011.4. website. the CD Regulators‘ Forum was held in Singapore on March 30.E. (2) enhance understanding of the chemical industry‘s role as an innovative solutions industry. The Strategic Framework contains three shared goals: (1) expand and support cooperation and mutual recognition among chemical regulators in the region to facilitate trade. In 2012. 3. To draft concept note for industry workshop and the CD regulators‘ forum and training workshop. 2.R.
the Life Sciences Innovation Forum (LSIF) has since grown to become APEC's leading initiative on health and health sciences innovation.Life Sciences Innovation Forum Life sciences innovation is critical to growth and socio-economic development as healthy people produce healthy economies." LSIF members acknowledged that health is an economic asset that should be preserved and enhanced to drive sustainable growth. Guiding principles include transparency. wellness. it is important that trade is secured in an internationally consistent manner and that customs rules and procedures are kept to a minimum to reduce trade transaction costs. In an era of trade globalisation. the United States to explore possible cooperation areas. The LSIF brings together scientific. meaningful dialogue with stakeholders and recognition of due process. Russia with the theme "Health and the Economy: Investing in a Healthy Life Course. productivity and economic potential. It is a tripartite forum that engages representatives from the highest levels of government. industry and academia to create the right policy environment for life sciences innovation. Facilitation: while ensuring proper enforcement of customs law and regulations. The SCCP holds to the following basic guiding principles: 1. health. The second joint event with HWG was held in St. the LSIF held its first joint meeting with the Health Working Group (HWG) in Washington DC. Sub-Committee on Customs Procedures Customs organisations implement government policies that help to facilitate trade at the border. Petersburg. The LSIF forum also acknowledges that capacity building is critical to successful implementation. and to reconcile and facilitate border control. In March 2011. The APEC Sub-Committee on Customs Procedures (SCCP) was established in 1994. trade. Its main objectives are to simplify and harmonise regional customs procedures to ensure that goods and services move efficiently. Established by APEC Leaders in 2002. economic and financial considerations to address the challenges of infectious and chronic disease and ageing populations. The cooperation with HWG will be continued in 2013 with a joint event to be held in Indonesia. Efficient and effective delivery of patient focused products and services can improve a population's longevity. effectively and safely through the region. APEC customs administrations should strive to improve customs clearance procedures .
At the highest level. Transparency: customs law. regulations. ABAC also has a representative at APEC . Stakeholder Participation Strong and vibrant economies are not built by governments alone. and interest groups within the community. industry. Business Participation APEC fully appreciates the key role that business plays in driving economic growth and involves the international business community at all levels of the APEC process. regulations. but by partnerships between government and its key stakeholders including the business sector. In general. administrative guidelines and procedures should be simplified to the greatest extent possible so that customs clearance can proceed without undue burdens. Accountability: customs administrations should be accountable for their actions through a transparent and accessible process of administrative and/or judicial review 3. academia. In an annual dialogue with APEC Economic Leaders ABAC presents recommendations to improve the business and investment environment in the APEC region and outlines business views about priority regional issues. organisations. Consistency: customs law. Simplification: customs law. APEC has created the APEC Business Advisory Council (ABAC). ABAC comprises up to 3 high-level business representatives from each of APEC's 21 Member Economies and it meets 4 times a year. administrative guidelines and procedures should be applied in a uniform manner within each economy 4. APEC actively involves these key stakeholders because it welcomes participation that Facilitates the attainment of APEC goals through appropriate partnerships Strengthens the quality of APEC's work by drawing on relevant insight and expertise Strengthens understanding and support for APEC's goals through openness. non-member economies. business/private sector representatives. transparency and a broad-based partnership that seeks multiple perspectives from the community. policy and research institutions. administrative guidelines and procedures should be publicly available in a prompt and easily accessible manner 5. academic bodies and other experts may apply or be invited to APEC activities subject to guidelines. regulations.2.
Academics and research institutions also participate in the working level of APEC through meetings. China Philippine APEC Study Center Network. . Berkeley. Taiwan Institute of Economic Research. Japan Nankai APEC Study Center. Canada Indonesian APEC Study Centre. Academic and Research Institution Participation Through the APEC Study Centres (ASC) Consortium. comprising some 100 universities. United States Chinese Taipei APEC Study Center. Example of where this arrangement has been formalised include the APEC Automotive Dialogue and the APEC Chemical Dialogue. Kobe University. Australia Berkeley APEC Study Center. University of California. APEC Study Center Consortium In 1993. The Asia Pacific Foundation of Canada. seminars and other activities. There are ASCs in 20 APEC Member Economies. Philippines The Canadian APEC Study Centre. Amongst a range of key activities. Philippine Institute for Development Studies. research centres and centres of academic excellence across the APEC region. representatives from the private sector are invited to join APEC working groups and expert groups. the ASC Consortium facilitates cultural and intellectual exchanges in the Asia-Pacific region and assists the APEC process by undertaking advanced. China Kobe APEC Study Center. Taiwan HKU APEC Study Center. Hong Kong University. APEC Member Economies actively engage academic and research institutions in the APEC process. At the working level.sectoral Ministerial Meetings. Vancouver. Nankai University. APEC Study Center University of Indonesia. and advises APEC officials on business sector priorities and concerns throughout the year. APEC Leaders decided to establish a network of APEC Study Centres among universities and research institutions in member economies. This process provides an important opportunity for industry to provide input into various areas of APEC's ongoing work. Royal Melbourne Institute of Technology. collaborative interdisciplinary and policy-relevant research from an independent and long-term perspective. Notable centers include: Australian APEC Study Centre. Hong Kong. Indonesia.
In addition. . It combined the former APEC Gender Focal Point Network (GFPN) and the private sector-oriented Women‘s Leadership Network (WLN) – creating a single public-private entity to streamline and elevate the influence of women‘s issues within APEC. and is a resource for gender-related information and advice for the integration of gender perspectives in APEC. the United States. business and government from all APEC member economies. holds a yearly conference. Each APEC Member Economy has a contact person that serves as the conduit for information about the Network. In 1998 APEC Leaders endorsed the recommendations of the first Ministerial Meeting on Women in Makati City. Currently. The broad goal of the PPWE is to provide linkages between APEC working groups. provides gender-based analysis training for APEC officials.Women's Participation APEC actively encourages and seeks the input and participation of women in the APEC process. APEC projects and activities are monitored to ensure that gender issues are considered. Philippines. a public-private network of women representing academia. Its mandate expired in 2002 and Ministers then endorsed the establishment of the APEC Gender Focal Point Network (GFPN) to continue to advance the implementation of the Framework and to sustain the AGGI's achievements in maintaining awareness on gender issues. Montana. and to provide recommendations on gender integration. The PPWE was established at the second Senior Officials‘ Meeting in May 2011 held at Big Sky. It also provides policy advice on gender issues and supports gender equality where relevant to the APEC process. the Gender Focus Network Point. The PPWE effectively acts as an institutional mechanism for reporting to the SOM Steering Committee on Economic and Technical Cooperation (SCE) on APEC gender activities and outcomes. The AGGI was tasked to assist with the implementation of the "Framework for the Integration of Women in APEC" within APEC groups. civil society. The APEC Policy Partnership on Women and the Economy (PPWE) provides a mechanism to integrate gender considerations into APEC activities. which comprises government representatives from all 21 APEC Member Economies. APEC economies and the APEC Secretariat to advance the economic integration of women in the APEC region for the benefit of all members. the Women Leaders' Network (WLN). encourages the consideration of gender issues within APEC. and this resulted in the formation of the Senior Officials' Meeting (SOM) Ad-Hoc Advisory Group on Gender Integration (AGGI).
2. cheaper goods and services and improved access to international markets. Tangible benefits are also delivered to consumers in the APEC region through increased training and employment opportunities. Essentially. Thus. Trade and Investment Liberalisation Business Facilitation Economic and Technical Cooperation The outcomes of these three areas enable APEC Member Economies to strengthen their economies by pooling resources within the region and achieving efficiencies. Business Facilitation: Business Facilitation focuses on reducing the costs of business transactions. cheaper goods and services and more employment opportunities due to an expanded economy. 3. This goal is also now furthered by APEC's Regional Economic Integration agenda. APEC's Structural Reform agenda addresses this area: it focuses on . greater choices in the marketplace. improving access to trade information and aligning policy and business strategies to facilitate growth. resulting in economic growth for APEC Member Economies and increased standards of living for all. thus reducing costs of production and leading to increased trade.Scope of Work Asia-Pacific Economic Cooperation (APEC) works in three broad areas to meet the Bogor Goals of free and open trade and investment in the Asia-Pacific by 2010 for developed economies and 2020 for developing economies. Trade and Investment Liberation focuses on opening markets to increase trade and investment among economies. which includes work on model measures for bilateral and regional trade agreements and an examination of the prospects for a Free Trade Area of the Asia-Pacific. APEC focuses on three key areas: 1. Trade and Investment Liberalisation: Trade and Investment Liberalisation reduce and eventually eliminate tariff and non-tariff barriers to trade and investment. and free and open trade. Protectionism is expensive because it raises prices for goods and services. Business Facilitation helps importers and exporters in Asia Pacific meet and conduct business more efficiently. Known as APEC's 'Three Pillars'.
Economic and Technical Cooperation (ECOTECH): ECOTECH is dedicated to providing training and cooperation to build capacities in all APEC Member Economies to take advantage of global trade. evaluations and negotiations between member economies. It is also affected by the absence of political will and popular agitations and lobbying against free trade in domestic politics. promoting the theory that a free trade area has the best chance of converging the member nations and ensuring stable economic growth under free trade. The economic expansion and growth in trade could exceed the expectations of other regional free trade areas such as the ASEAN Plus Three (ASEAN + China. the APEC Business Advisory Council. involving essential studies. This area builds capacity at the institutional and personal level to assist APEC Member Economies and its people gain the necessary skills to meet their economic potential. The FTAAP would create a free trade zone that would considerably expand commerce and economic growth in the region. and South Korea). and as a way to overcome the "spaghetti bowl" effect created by overlapping and conflicting elements of the umpteen free trade agreements—there are approximately 60 free trade agreements. market conflicts and complications with nations of other regions. Some criticisms include that the diversion of trade within APEC members would create trade imbalances. and the capacity of businesses to access markets and to operate efficiently. Japan. The development of the FTAAP is expected to take many years. Proposed Free Trade Area of the Asia-Pacific: APEC is considering the prospects and options for a Free Trade Area of the Asia-Pacific (FTAAP). . which would include all APEC member economies. The proposal for a FTAAP arose due to the lack of progress in the Doha round of World Trade Organization negotiations. The FTAAP is more ambitious in scope than the Doha round. Since 2006.reforming domestic policies and institutions that adversely affect the operation of markets. has lobbied for the creation of a high-level task force to study and develop a plan for a free trade area. with an additional 117 in the process of negotiation in Southeast Asia and the Asia-Pacific region. which limits itself to reducing trade restrictions.
professional staff fulfill specialist and support functions at the APEC Secretariat. The APEC Secretariat performs a central project management role. From 2010 the appointment will be made on a fixed-term basis (3 years) and is open to professional candidates from any of APEC's 21 member economies. ISO Certification In 2002. In addition. The APEC Secretariat is the first multilateral trade-related secretariat to attain ISO certification. currently Ambassador Muhamad Noor Yacob. . assisting APEC Member Economies and APEC fora with overseeing more than 250 APEC-funded projects. Staffing The APEC Secretariat is headed by an Executive Director.APEC Secretariat The APEC Secretariat is based in Singapore and operates as the core support mechanism for the APEC process. technical and advisory support as well as information management. communications and public outreach services. The APEC Secretariat is staffed by a small team of program directors. It provides coordination. 2009 marks the last year when the position will be held on an annually rotating basis by an officer of Ambassadorial rank from the host economy. This recognises the continuous efforts made by the APEC Secretariat to provide improved administrative and support activities. the APEC Secretariat obtained ISO 9001 Quality Management Certification. seconded from APEC Member Economies. APEC's annual budget is also administered by the APEC Secretariat.
our colleagues. We inspire teamwork through coaching. We are open to different points of view and new ideas. We value our diversity as a source of strength. and capacity in support of APEC‘s goals. and for the benefit of APEC. and we are prepared to successfully adapt to change. We nurture a sense of inclusiveness for our staff and our stakeholders. and communicating with internal and external stakeholders. skills. and transparent in sharing information. managing processes. We appreciate different values and perspectives. We enhance linkages in the wider APEC community by effectively supporting policy-makers and efficiently facilitating implementation. accepting each other as equals. We prize integrity highly as it allows us to be true to ourselves. We are open to input from a diverse range of contributors. and build on each other's unique strengths and contributions. RESPECT We gain trust and build productive relationships through mutual respect. We use time. We are honest. We address issues openly and proactively. We are passionate about seeking progress and are constantly learning and improving ourselves. and involve others. We seek to understand. our colleagues and our organization EXCELLENCE We strive to enhance individual and organizational knowledge. and resources entrusted to us wisely. anticipating the needs of the organization. . OPEN We are honest. always acting with consideration and empathy. support. money. accessible. guiding. We take pride in our work and keep our commitments. We recognise that respect forms the basis of our dealings with our fellow workers and our external stakeholders. and our stakeholders.APEC Secretariat CORE Values COMMUNITY We achieve high quality results by working together to recognize. listen to. and motivating one another. trustworthy and straightforward in all our dealings.
Family and Community Development. required participation in complex and intensive negotiations involving industry as . including of rubber. Ambassador Noor began his career in Malaysia‘s Public Service at the Ministry of Plantation Industry and Commodities in 1974. Malaysia was then the world‘s leading producer of a number of commodities. cocoa and palm oil. in particular. technical and advisory body that supports sustainable economic growth and prosperity in the Asia-Pacific region. The suspension of buffer stock operations by the International Tin Council in October 1985. Ambassador Noor advances APEC‘s agenda by effectively executing APEC‘s work programmes as mandated by Leaders and Ministers who meet annually. the United Nations Conference on Trade and Development (UNCTAD) and various international commodity organisations. for two years Ambassador Noor served as Deputy Secretary General of the Ministry of Women. Notably. these industries then accounted for more than 60 per cent of Malaysia‘s GDP. which attests to the importance of the negotiating tasks involved. tin. Ambassador Noor was Malaysia‘s Permanent Representative to the World Trade Organisation in Switzerland until 2009. tropical timber. He is the first appointee to be recruited through an open selection process and holds this appointment until December 31. the coordinating. At the same time.Executive Director Curriculum Vitae: Ambassador Muhamad Noor Yacob Ambassador Muhamad Noor Yacob is the Executive Director of the APEC Secretariat based in Singapore. including as Trade Commissioner in the United Kingdom. In this role. During this stint. Ambassador Noor has also held several senior positions within the Malaysian public service. Before moving to Geneva. He was appointed in October 2003 and was elected Chair of the following WTO bodies: General Council (2007) which is the highest decision-making body of the WTO outside of the Ministerial Conference. 2012. and Negotiating Group on Trade Facilitation (2004 – 2005). including ASEAN. Dispute Settlement Body (2006). he represented Malaysia extensively in international trade fora. Prior to taking up his current position.
Management Board of the International Tin Research Institute (1986). Priority is given to projects and activities that build members' capacities to increase trade in agricultural products. ‗Darjah Indera Mahkota Pahang‘ in 2006 by HRH the Sultan of Pahang and the Excellent Public Service Award by the Ministry of Plantation Industry and Commodities in 1995. The objective of the Agricultural Technical Cooperation Working Group (ATCWG) is to enhance agriculture's contribution to the region's economic growth and social well-being by promoting agricultural technical cooperation between APEC members. Ambassador Noor was honoured to have been elected: Vice-Chairman. International Cocoa Council (1995). The ATCWG's objectives are to improve the capacity of agriculture and its related industries and to share information and experiences in the areas of agriculture. . enhancing marketing capacity and improving the implementation of agriculture-related provisions in free trade agreements (FTAs). Chairman. and Vice-Chairman. International Tin Council (1984). International Rubber Study Group (1985). Ambassador Noor was awarded the ‗Kesatria Mangku Negara‘ in 1998 by HM the King of Malaysia. In recognition of service to Malaysia. Chairman. and animal and biogenetic resource management. it provided practical exposure to public international law and its interface with municipal commercial law and trade finance. Ambassador Noor graduated with honours in economics from the University of Malaya in 1974. Departments under APEC Agricultural Technical Cooperation Agriculture makes a substantial economic contribution to most APEC member economies. biotechnology. He took leave to seek a Master of Public Policy at the University of Wisconsin at Madison in 1981-82 and attended the Advanced Management Program at Harvard Business School in 2002. This work contributes to APEC's trade facilitation agenda by reducing business transaction costs. At the same time. Executive Committee. and the issues of food security and safety are of critical importance to the region.well as banks and brokers.
the APEC region is a net energy importer and its demand for energy is on the rise. promoting the development of nextgeneration sustainable biofuels. The development of capacity building programmes in these areas is now a core ATCWG activity. enhancing agriculture's ability to adjust and mitigate the impact of climate change. The ATCWG is composed of government officials and experts from academia. The Energy Working Group (EWG).the EWG Business Network (EBN)-. while mitigating the environmental effects of energy supply and use. Efficiency & Conservation. Energy Data & Analysis. New & Renewable Energy Technologies) and two Task Forces: one on Biofuels and the other on Energy Trade and Investment (ETITF). and strengthening technological cooperation in the strategic planning of ATCWG projects. The EWG is assisted by four Expert Groups (Clean Fossil Energy. responding to food security challenges. Recognizing that business can make an important contribution to the development and implementation of its work programme. launched in 1990.In recent years. APEC Leaders have charged the ATCWG with: strengthening food safety standards. The ETITF was established to facilitate cooperation and promote regional energy trade and investment liberalization. According to the International Energy Agency (IEA) forecasts. . seeks to maximize the energy sector's contribution to the region's economic and social well-being. and in particular to consider climate change policies and approaches to reducing greenhouse gas emissions which includes carbon pricing across the region. These factors make energy cooperation an important agenda item for APEC. the EWG established its own public-private sector dialogue mechanism . Energy Accounting for around 60 percent of world energy demand. global energy demand would increase by 40 percent between 2007 and 2030 (World Energy Outlook 2009). The EBN advises the EWG on energy policy issues from an industry perspective and facilitates regular dialogues between energy policy-makers and business sector representatives.
Recognizing the importance of its work. APEC Leaders acknowledged the threat that corruption poses to good governance and economic growth in the Asia-Pacific when they met in Santiago. The following year an Anti-Corruption and Transparency Experts' Task Force (ACT) was established. Disasters that affect one member economy can have significant spill-over effects in other economies. and experiences over 70 percent of the world's natural disasters. Disturbingly. the ACT was upgraded in status to a working group in March 2011. Catastrophes in the region .Anti-Corruption and Transparency Working Group Corruption is a major obstacle to social and economic development and increases the cost of doing business. Emergency preparedness is one of the key elements of APEC's human security agenda. It also promotes cooperation in areas such as extradition. Chile in 2004. along with countering terrorism and pandemics. scientists warn that the intensity and frequency of disasters in the Asia-Pacific region will increase in the decades ahead. the Pacific Islands Forum. exacerbated by unplanned urbanisation. Emergency Preparedness The Asia-Pacific region comprises 52 percent of the earth's surface area and 40 percent of the world's population.such as the 2004 Indian Ocean Tsunami. APEC Observers (namely ASEAN. and climate change. Leaders endorsed the Santiago Commitment to Fight Corruption and Ensure Transparency and theAPEC Course of Action on Fighting Corruption and Ensuring Transparency. legal assistance and judicial/law enforcement (especially asset forfeiture and recovery). the APEC Course of Action and the APEC Transparency Standards. To advance this work. and the Pacific Economic Cooperation Council). The purpose of the ACT is to coordinate the implementation of the Santiago Commitment. economic development and prosperity by working together to fight corruption and ensure transparency. and representatives from the APEC Secretariat and the APEC Business Advisory Council. The ACT is open to anti-corruption experts and law enforcement officials from all interested APEC member economies. poor land-use management. They agreed that APEC economies should nurture and sustain good governance. the 2008 earthquake in .
China's Sichuan province. avian influenza and H1N1 influenza . In 2007. Now the EPWG continues to play a constructive role in enabling the region to better prepare for and respond to emergencies and disasters by helping to reduce the risk of disasters and building business and community resilience.has highlighted the impact that threats to public health can have on a broad range of sectors including agriculture. tourism. In 2009 APEC Leaders reaffirmed the importance of enhancing human security and reducing the threat of disruptions to business and trade in the Asia-Pacific region. and the 2011 earthquakes in New Zealand and Japan . Recognizing the importance of its work. Pursuant to its Terms of Reference.including Severe Acute Respiratory Syndrome. focusing mainly on emerging infectious diseases. trade. the Task Force is mandated to coordinate and facilitate emergency and disaster preparedness within APEC. the HTF was upgraded in status to become the Health Working Group (HWG). . transportation and business. including naturally occurring and man-made diseases. the TFEP carried out much of its work via electronic communications. By sharing expertise and collaborating on emergency preparedness issues. Originally called the Virtual Task Force for Emergency Preparedness. APEC's leadership in the region and its wide-ranging economic work programmes make it uniquely suited to address the multi-sectoral impact of today's health threats. in 2010 the TFEP was upgraded in status to a working group. Health The emergence of regional and global health epidemics . APEC members strengthen their capacity to mitigate emergencies and disasters.are critical reminders of the importance of APEC's emergency preparedness work. APEC's Emergency Preparedness Working Group (EPWG) was first established as APEC's Task Force for Emergency Preparedness (TFEP) by APEC Senior Officials in 2005. as a result of a review of the APEC fora. the 2010 earthquake in Chile. In October 2003 APEC established the Health Task Force (HTF) to address health-related threats to economies' trade and security.
established in 1990. the United States with a purpose of exploring possible cooperation areas. and skills to strengthen human resource development and promote sustainable economic growth. The second HWG-LSIF joint event on Health & the Economy: ―Investing in a Healthy Life Course‖ was held in Saint Petersburg. a new Terms of Reference (TOR) for the SOM Steering Committee on Economic and Technical Cooperation (SCE) was endorsed by APEC Senior Officials. disbanding or reorienting this body. Russia on June 27. labor and capacity building to develop human resources. Evaluate the progress of the HWG in implementing and achieving APEC's ECOTECH priorities. experience. has played an important role in building the region‘s human capacity and achieving this goal. the first HWG and Life Sciences Innovation Forum (LSIF) joint meeting was held in March 2011 in Washington DC.In 2010. The HRDWG conducts work programs on education. . To respond to the recommendations of the SCE. It derives its mandate from taskings from APEC Leaders and Ministers as well as Labor and Education Ministers. The group‘s mission is to share knowledge. Approve and rank all ECOTECH-related projects proposals ahead of presentation to the BMC. Human Resource The goal of human resources development in APEC is to promote the well-being of all people and achieve sustainable and inclusive economic growth in the region. Assess and direct realignment of work plans of the HWG with the APEC-wide medium-term ECOTECH Priorities and annual objectives as outlined in the ECOTECH framework. The Human Resources Development Working Group (HRDWG). The mandated work areas of the HWG include: Coordinate and supervise the HWG and provide policy guidance on the Economic and Technical Cooperation (ECOTECH) agenda. 2012. and Review the role and operations of the HWG. with a view to making recommendations to Senior Officials on establishing merging. Compile progress and evaluation reports of the HWG for review and report to Senior Officials.
and conducting skills mapping research exercises in the APEC region. the Emergency Preparedness Working Group (EPWG). Points of collaboration include building human capital for business sectors. conducting disaster reduction education. Experts Group on Illegal Logging and Associated Trade Forests and forest resources provide critical economic. clothing and shelter. and 80 percent of global trade in forest products. The HRDWG also cooperates with other international organizations such as the Organisation for Economic Co-operation and Development (OECD) and Southeast Asian Ministers of Education Organization (SEAMEO) in the areas of labor and social protection and foreign language education and training. .6 billion people worldwide depend directly on forests for food.The HRDWG conducts its work program through three networks: Capacity Building Network (CBN) Education Network (EDNET) Labour and Social Protection Network (LSPN) The following objectives guide the three HRDWG networks in achieving the HRDWG‘s mission: Develop 21st Century Knowledge and Skills For All Integrate HRD into the Global Economy Address the Social Dimensions of Globalization Recognizing that human resources development is a cross-cutting issue. social. the Economic Committee (EC). The United Nations estimates that over 1. implementing the APEC New Strategy for Structural Reform (ANSSR). and the APEC Business Advisory Council (ABAC). the HRDWG has been coordinating with several APEC working groups including the Committee on Trade and Investment (CTI). 60 percent of global production of forest products. APEC economies account for approximately 53 percent of the world‘s forests. Importantly. and environmental benefits for APEC economies and the world as a whole. the Small and Medium Enterprises Working Group (SMEWG).
In 2011. The Experts Group directly supports the overarching goals envisaged by APEC Leaders and Ministers. Russia in 2012. while safeguarding the natural environment and achieving sustainable development. In Honolulu. in Yokohama. and support capacity building activities in member economies. Illegal logging and associated trade. promote trade in legally harvested forest products. and build capacity. and increase in. knowledge about industrial science and technology. APEC Leaders reaffirmed this commitment in Vladivostok. Thus in 2011. APEC Leaders committed to work to implement appropriate measures to prohibit trade in illegally harvested forest products and undertake additional activities in APEC to combat illegal logging and associated trade. Hawaii in 2011. and social impacts and is a significant problem facing the Asia-Pacific region. the APEC Experts Group on Illegal Logging and Associated Trade was created to enhance the efforts of member economies to take concrete steps to combat illegal logging and associated trade.according to data provided by the UN Food and Agriculture Organization. Forest resources are therefore important to APEC economies. APEC Ministers Responsible for Trade directed officials to establish an experts group in order to promote trade in legally harvested forest products. have brought about adverse economic. Japan in 2010. APEC forest products trade was valued at over $150 billion in 2010. environmental. businesses and citizens. Specifically. combat illegal logging and associated trade. . to be a dynamic and prosperous region built on the development and application of industrial science and technology that improves the quality of life. Industrial Science and Technology The APEC Industrial Science and Technology Working Group (ISTWG) recognizes its critical and strategic role in helping member economies achieve positive gains by encouraging widespread access to. The ISTWG‘s objective is therefore to achieve innovative growth and to fulfill the APEC vision for the 21st century. APEC Leaders pledged to seek growth that is compatible with global efforts for protection of the environment and to transition to a green economy. that is. APEC Leaders further agreed to enhance cooperation to address concerns with illegal logging and associated trade and to promote sustainable forest management and rehabilitation. however.
Human resource capacity building. which was initiated at the APEC Ministerial Meeting in Singapore in 1990. Better quality of life and a cleaner environment.The policy directions of ISTWG are set by APEC Economic Leaders and are guided by APEC Ministers responsible for science and technology. and Strengthened technological cooperation and achievement of best practices in strategic planning for IST projects and programs. Significantly. through policies. Improved level of connection between research and innovation. Safe and secure society. APEC members account for over 80 percent of global aquaculture production and more than 65 percent of the world‘s capture fisheries. the consumption of fishery products in the APEC region is 65 percent higher than the world average. and knowledge sharing. trade and investment opportunities in harmony with sustainable development. innovative R&D and technologies. They are: Enhanced economic growth. Given these figures. APEC economies are an important voice internationally on fishery-related issues and collectively have a significant impact on the global sustainability of fisheries and responsible practices in the fish trade. Originally the ISTWG was known as the Working Group on Expansion of Investment and Technology Transfer. Ocean and Fisheries According to Harvesting Currency . emphasizing the importance of measures for infectious diseases and natural disasters. APEC economies represent nine of the top ten fish producers in the world. involving and encouraging the potential of SMEs. . Enhanced international science and technology networks.The Importance of Fisheries and Aquaculture for APEC Economies. The Terms of Reference and the 2010-2015 Work Plan set out the ISTWG‘s goals.
improving capture fisheries management and sustainable aquaculture practices. open and fair trade in products of fisheries and aquaculture. among other issues. The following year. Recognizing these issues. For over twenty years.‖ . In 2011. and facilitating sustainable. This merger cultivates synergy and efficiency between the two groups. More recently. Russia. unreported and unregulated fishing and associated trade. APEC established the Marine Resource Conservation Working Group (MRCWG) in 1990 to promote initiatives to facilitate balanced and integrated domestic and regional policies and programs leading to the sustainability of the marine and coastal environments in the APEC region. working towards sustainable management of marine ecosystems. the focus has expanded to activities such as illegal. APEC Leaders reaffirmed their commitment to ―Enhancing cooperation to combat illegal. and red tide and toxic algae. The groups‘ focus was on marine pollution. And this is effectively addressed through international and regional cooperation.Healthy marine and coastal environments support marine-related industries like aquaculture production and tourism. APEC created the Fisheries Working Group (FWG) to achieve well-managed fisheries and aquaculture to yield optimal economic value and support of local communities and livelihoods. as well as to food security. unreported and unregulated (IUU) fishing and the sustainable development of aquaculture. In 2012 in Vladivostok. the MRCWG and the FWG jointly decided to merge and form the Ocean and Fisheries Working Group (OFWG). these groups have actively implemented projects and engaged in annual meetings and other activities. and the associated employment it creates contribute significantly to economic growth. Sound environmental conservation and proper marine resources management are critical to addressing challenges including overfishing and the loss of marine biodiversity. pollution generated by land-based activities. including the transportation of hazardous substances.
social and environmental well-being of APEC member economies through tourism. recognizing that: tourism is one the region's fastest growing industries and is of significant importance to the economic development of APEC economies. the tourism industry in member economies is at different levels of development. tourism is important in fostering regional understanding and cooperation.Tourism Sustainable tourism is a key economic driver for the Asia-Pacific region. the Tourism Working Group (TWG) was formed in 1991. To help promote growth in travel and tourism in the region. The Charter reflects a collective commitment to improve the economic. constitutes the basis for APEC tourism cooperation. safety and environmental requirements with trade facilitation and its efforts are focused on: the facilitation of domestic policy regulations. exchange views and develop areas of cooperation on tourism trade and policies. the development of intermodal supply chains and secure . It aims to balance security. cultural. creating jobs and promoting investment and development. The Transportation Working Group (TPTWG) aims to achieve the liberalisation of transportation services and works to enhance the safety of APEC transport systems to encourage economic development in the Asia-Pacific region. The APEC Tourism Charter. endorsed at the 1st Tourism Ministerial Meeting in Korea in 2000. It brings tourism administrators together to share information. and member economies share the common goal of quality development and services. The TWG's objective is to foster economic development in the Asia-Pacific region through sustainable tourism. It establishes four key policy goals and an agreed process for realising these aims: Removal of impediments to tourism business and investment Increase mobility of visitors and demand for tourism goods and services Sustainable management of tourism outcomes and impacts Enhance recognition and understanding of tourism as a vehicle for economic and social development Transportation The efficient and safe transportation of goods and people is key to APEC's goal of free and open trade in the Asia-Pacific region.
the APEC Counter-Terrorism Task Force was established in May 2003 to: coordinate the implementation of Leaders' Statements and commitments on fighting terrorism and enhancing human security assist members to identify and assess counter-terrorism needs coordinate capacity building and technical assistance programs cooperate with relevant international and regional organisations facilitate cooperation between APEC fora on counter-terrorism issues. Develop timetables and strategies to work towards the liberalisation of air services. Work together on a balanced package of options for addressing greenhouse gas emissions from aviation. investment and financial systems from terrorist attack or abuse and trade-based money laundering. sea and air. Bearing in mind Leaders' instructions to monitor progress and build capacity in counterterrorism. noting that differences in security processes across the region have implications for both passengers and industry. In the 2007 Statement Ministers agreed to: Aggressive road safety strategies tailored to the special circumstances of each economy.the 2001 APEC Leaders Statement on CounterTerrorismand the 2002 Statement on Fighting Terrorism and Promoting Growth . . Their commitments to undertake individual and joint actions to counter terrorism are expressed in two principle statements . trade. and in particular to work together on mass transit security measures. The TPTWG has a clearly defined set of priority action areas based on the 2006 Leaders' Declaration.and in every subsequent annual Leaders' Declaration. APEC Leaders have pledged to help secure the region's people and its economic. the 2007 Transportation Ministerial Meeting Statement and the TPT strategic direction paper. Counter-Terrorism Task Force Terrorism poses a direct threat to APEC's vision of secure.transport activity. At the same time.land. parallel measures are being undertaken by individual economies to strengthen the security of all transportation modes . the integration of Corporate Social Responsibility. Help developing economies comply with global security requirements such as the International Ship and Port Facility Security Code. Prioritise the harmonisation of security measures. and building the capacity of all stakeholders to help them reach the eventual goal of free and open trade. open and prosperous economies.
APEC Ministers endorsed the establishment of the Mining Task Force (MTF). From 1996 until 2005. mining and energy. Ministers agreed to APEC Mining Policy Principles. and many APEC economies derive important economic and social benefits from the development. telecommunications. mining was considered through the Non Ferrous Metals Dialogue (NFMD). APEC Senior Officials have extended the CTTF mandate for the period 2009-2010. of UN counter-terrorism measures and the Financial Action Task Force's (FATF) Special Recommendations on Terrorist Financing. where applicable. In 2007. policies and practices and about significant developments in each economy's minerals and metals sector. Foster regular exchange between member economies about experiences with regulations. At the 15th APEC Economic Leaders' Meeting in Sydney in 2007. From 2005 until 2007. . Leaders endorsed further economic integration in the Asia-Pacific region and agreed to accelerate efforts towards this objective by." The 2007 Ministers Responsible for Mining Meeting Statement gave direction to economies and the MTF regarding future work. Foster investment certainty in the APEC minerals sector through the pursuit of open minerals and metals markets and the articulation of clear and predictable investment policies. and have stressed the need for implementation. APEC dealt with mining issues through the Group of Experts on Mineral and Energy Exploration and Development (GEMEED). "facilitating integration in sectors such as transportation. Mining Task Force The mining. APEC Leaders also emphasise the important role played by the UN and its Global CounterTerrorism Strategy. trade and consumption of minerals and metals thereby improving the economic and social wellbeing of our people.Given the continuing threat the region faces. The MTF derives its mandate from priorities set by APEC Leaders and Ministers and from directions provided by Ministers Responsible for Mining. use and trade of minerals and metals. Some APEC members are significant producers and consumers of minerals and metals. including: Pursue policies that enhance the sustainable production. mineral and metal industries are very important to APEC member economies as the majority of global trade and investment in these commodities occurs in the APEC region.
Business Facilitation and Economic and Technical Cooperation. and 2020 for developing economies (the Bogor Goals). intra-APEC merchandise trade (exports and imports) has grown from US$1. support and promote initiatives by the minerals and metals industry and stakeholders that contribute to national and international sustainable development goals.2 APEC's work under its three main pillars of activity. significantly outpacing the rest of the world. while GDP in the rest of the world has less than doubled. Trade and Investment Liberalisation: APEC is the premier forum for trade and investment liberalisation in the Asia-Pacific and has set targets dates for "free and open trade": no later than the year 2010 for industrialised economies.5%. GDP (in purchasing power parity terms) in the APEC region has tripled.4 .3 As a consequence. Promote cost effective. environment and social development outcomes. Achievements and Benefits: The Asia-Pacific region has consistently been the most economically dynamic region in the world. Support capacity building activities for sustainable development so that all APEC Economies are able to maximise the benefits and minimise the impacts from minerals resource development. transparent and objective-based measures which improve the efficiency in the regulation of the minerals industry to contribute to economic.an average increase of 8.5% per year. evidence based.9%. by 2004 barriers had been reduced by approximately 70% to 5. When APEC was established in 1989 average trade barriers in the region stood at 16. APEC's total trade has grown 395%.1 In the same period.7 trillion in 1989 to US$8. has helped drive this economic growth and improve employment opportunities and standards of living for the citizens of the region. Since APEC's inception in 1989.44 trillion in 2007 . Trade and Investment Liberalisation. Encourage. and merchandise trade within the region accounted for 67% of APEC's total merchandise trade in 2007.
adopted in 2007. 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. instead of to multiple government agencies. an average increase of 8. and customs and trade-related document processing. covering the payment of duties. Providing business with a concise one-stop repository of customs and trade facilitation related information for all APEC economies through the APEC Customs and Trade Facilitation Handbook The APEC Tariff Database provides users with easy access to APEC member economies' tariff schedules. APEC is also pursuing trade and investment liberalisation through its Regional Economic Integration agenda. In 2008. APEC has also acted as a catalyst in the advancement of World Trade Organisation multilateral trade negotiations over the past 20 years. Trade in the rest of the world has increased at 7. The development of 15 model measures for RTAs/FTAs that serve as a reference for APEC members to achieve comprehensive and high-quality agreements. A second trade facilitation action plan (TFAP II). By facilitating information flows it will facilitate trade and e-commerce. Over 30 bilateral free trade agreements (FTAs) have been concluded between APEC Member Economies. a ground-breaking Investment Facilitation Action Plan was endorsed. Progress to date includes: Investigating the prospects of and options for a Free Trade Area of the Asia-Pacific. provides a framework for the development of Single Window systems which will allow importers and exporters to submit information to government once. trade with the rest of the world has increased from US$3 trillion in 1989 to US$15 trillion in 2007.6% over the same period. aims to reduce transaction costs by a further 5% between 2007 and 2010. The Single Window Strategic Plan. prohibitions and other information. Similarly. APEC initiatives that help facilitate trade include: The introduction of electronic/paperless systems by all member economies. . through a single entry point. concessions. The APEC Privacy Framework provides guidance and direction to both APEC Member Economies and businesses on implementing information privacy protection policies and procedures.3% per year. it aims to improve the investment environment in Member Economies.
APEC is also removing behind-the-border barriers to trade through its Structural Reform agenda. APEC set a goal of tripling internet usage in the region and that goal has now been achieved. climate change. . APEC was implementing a total of 212 capacity building projects with a total value of US$13. as recognised by the 2008 APEC Ministerial Meeting on the Telecommunications and Information Industry. to enable them to participate more fully in the regional economy and the liberalisation process. Economic and Technical Cooperation: 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. A network of 41 APEC Digital Opportunity Centres (ADOC) now operates in seven Member Economies. APEC's new goal is to achieve universal access to broadband by 2015. which focuses on reforming domestic policies and institutions that adversely affect the operation of markets.5m. The APEC Business Travel Card (ABTC) provides substantial time and cost savings to business people and facilitates their travel in the region. by allowing visa free travel and express lane transit at airports in participating economies. emergency preparedness (Task Force for Emergency Preparedness). providing citizens and businesses of the region with access to ICT technologies. and in 2008. Other Achievements APEC has also been able to evolve its agenda to include pressing regional priorities. APEC is also developing a Digital Prosperity Checklist that outlines specific steps economies can take to enable them to utilise ICT as catalysts for growth and development. and the capacity of businesses to access markets and to operate efficiently. energy security and clean development (The Sydney Declaration in 2007). more than 1200 projects have been initiated. A particular focus has been reducing the digital pide between developed and developing economies: In 2000. Examples include: counter-terrorism (The Shanghai Statement in 2001. ADOC's objective is to transform the digital pide into digital opportunities and the centres act as local information and communication technology (ICT) resource centres. education and training. Since APEC first began to undertake capacity building work in 1993. and the global financial crisis (The Lima Statement in 2008). human security (Health Working Group). and the Counter-Terrorism Task Force).
underpinned by policy dialogues. outlining how economies will achieve the free trade goals. 1996 . business facilitation and sectoral activities. United States APEC Economic Leaders meet for the first time and outline APEC's vision. Japan APEC adopts the Osaka Action Agenda (OAA) which provides a framework for meeting the Bogor Goals through trade and investment liberalisation.Blake Island. "stability. The Philippines The Manila Action Plan for APEC (MAPA) is adopted. Canada APEC endorses a proposal for Early Voluntary Sectoral Liberalization (EVSL) in 15 sectors and decides that Individual Action Plans should be updated annually. 1993 . outlining the trade and investment liberalisation and facilitation measures to reach the Bogor Goals and the first Collective and Individual Action Plans are compiled.Vancouver." 1994 . 1997 . Australia APEC begins as an informal Ministerial-level dialogue group with 12 members.Osaka.Manila. Indonesia APEC sets the Bogor Goals of.Key APEC Milestones 1989 . . "free and open trade and investment in the Asia-Pacific by 2010 for developed economies and 2020 for developing economies. economic and technical cooperation." 1995 . security and prosperity for our peoples.Canberra.Bogor.
providing IAPs online and commits to the Action Plan for the New Economy.Bangkok. APEC Business Travel Card scheme is approved and a Mutual Recognition Arrangement on Electrical Equipment and a Framework for the Integration of Women in APEC is endorsed.Bandar Seri Begawan.1998 . 1999 .Kuala Lumpur.Auckland. which. the Bogor Goals and the multilateral trading system under the WTO.Los Cabos. APEC's second Counter-Terrorism Statement is delivered. facilitate infrastructure investment and technology for on-line transactions and promote entrepreneurship and human capacity building. New Zealand APEC commits to paperless trading by 2005 in developed economies and 2010 in developing economies. along with the adoption of the Secure Trade in the APEC Region (STAR) Initiative. Members sign up to . eliminate the danger of weapons of mass destruction and confront other security threats. Malaysia APEC agrees on the first nine sectors for EVSL and seeks an EVSL agreement with non-APEC members at the World Trade Organization. 2001 . which sets out an agenda to strengthen market structures and institutions. Brunei Darussalam APEC establishes an electronic Individual Action Plan (e-IAP) system. Clarifying the Roadmap to Bogor and Strengthening the Implementation Mechanism. amongst other objectives. 2002 . aims to triple Internet access throughout APEC region by 2005. but also to improving the security of the peoples of the AsiaPacific region. 2003 . 2000 . which focuses on Broadening the APEC Vision. People's Republic of China APEC adopts the Shanghai Accord. Thailand APEC agrees to re-energize the WTO Doha Development Agenda negotiations and stresses the complementary aims of bilateral and regional trade agreements. APEC dedicates itself not only to promoting the prosperity of member economies. APEC pledges to take specific actions to dismantle terrorist groups. The e-APEC Strategy is adopted.Shanghai. Mexico APEC adopts a Trade Facilitation Action Plan. Policies on Trade and the Digital Economy and Transparency Standards. APEC's first Counter-Terrorism Statement is issued.
Australia For the first time. and endorses a specific Course of Action towards this end. 2005 .Santiago. China and agree to confront pandemic health threats and continue to fight against terrorism which could cause deep economic insecurity for the region. To prioritize its agenda. 2007 . and the APEC Privacy Framework. promote sound and efficient financial systems and accelerate regional structural reform.Ha Noi.Busan. APEC Member Economies issue a Declaration on Climate Change. the Santiago Initiative for Expanded Trade and a Data Privacy Framework.the APEC Action Plan on SARS and the Health Security Initiative to further protect personal security. Korea APEC adopts the Busan Roadmap. establishing guidelines on the control of man-portable air defense systems (MANPADS).Sydney. 2004 . APEC also strengthens its efforts to build knowledge-based economies. Energy Security and Clean Development outlining future action in support of a new international . APEC takes a strategic approach to reform working groups and strengthen the Secretariat. APEC reiterates its "unmistakable resolve" to confront the threat of terrorism. APEC makes a political commitment to fight corruption and ensure transparency. and takes further action in this regard by identifying key elements of effective export control systems. Chile APEC issues a strong statement of support for progress in the WTO Doha Development Agenda and sets a target date for achieving a breakthrough in negotiations: December 2005. and continuing to implement the STAR initiative. the convening of the Sixth WTO Ministerial Conference. Leaders issue a stand-alone statement in support of a successful conclusion to the WTO's 6th Ministerial Meeting in Hong Kong. APEC adopts Best Practices for RTAs and FTAs. Viet Nam APEC Economic Leaders endorsed the Ha Noi Action Plan which identifies specific actions and milestones to implement the Bogor Goals and support capacity-building measures to help APEC economies. They also issued a statement on the WTO Doha Development Agenda calling for ambitious and balanced outcomes. 2006 . completes the Mid-Term Stocktake which has found that APEC is well on its way to meeting the Bogor Goals.
APEC formulates the APEC Strategy for Investment and endorses the APEC New Strategy for Structural Reform. long-term growth strategy . robust and secure APEC community. to reject protectionism and to intensify efforts to advance WTO Doha Development Agenda negotiations. cooperative actions and initiatives. . faster and easier by 2015. 2010 . including structural reform initiatives. and welcomed the new APEC Trade Facilitation Action Plan which will reduce trade transaction costs by a further five per cent by 2010. Japan APEC Leaders issue the Yokohama Vision to provide a roadmap for members to realize an economically-integrated. The first-ever joint meetings of APEC senior trade and finance officials are held to address the economic crisis.Singapore APEC resolves to pursue balanced.Lima. APEC launches the Supply-Chain Connectivity Framework and the Ease of Doing Business Action Plan to make doing business in the region 25 percent cheaper. APEC completes an assessment of the progress towards the Bogor Goals and finds significant gains in the areas of liberalizing trade in goods. Member economies also commence work on an APEC Services Action Plan and an Environmental Goods and Services Work Program. inclusive and sustainable growth. Peru APEC focused on the social dimensions of trade and on reducing the gap between developing and developed members. "A New Commitment to AsiaPacific Development". as well as trade facilitation. This includes the formulation of a comprehensive. 2009 . services and investment. while Leaders agree to extend their standstill commitment on protectionism until 2010. Leaders also adopted a major report on closer Regional Economic Integration. in accordance with the 2008 theme.Yokohama. 2008 . APEC holds its firstever APEC Ministerial Meeting on Food Security.climate change arrangement and announcing a forward program of practical. Leaders also addressed the global financial crisis in the Lima APEC Leaders' Statement on the Global Economy. They committed to take all necessary economic and financial measures to restore stability and growth.
applied tariff rates of environmental goods to 5 percent or less. They are open to participation from all 21 member economies. external stakeholder engagement is encouraged. and research. APEC Projects: Projects are a vital part of the APEC process. APEC resolves to reduce. United States APEC Leaders issue the Honolulu Declaration in which they commit to taking concrete steps toward a seamless regional economy. Over 1600 projects have been undertaken since 1993. As well as engaging with public and government sector organisations in the 21 economies. publications. with a total value of over $23 million committed by APEC to projects in 2010-2011. APEC sets the goal to reduce aggregate energy intensity by 45 percent by 2035. enhancing human security. taking into account economies' economic circumstances. promoting and accelerating regional economic integration. Projects assist member economies in building a dynamic and harmonious Asia-Pacific region by championing free and open trade and investment. . without prejudice to APEC economies' positions in the WTO.Honolulu. APEC projects include workshops. by the end of 2015. up to 170 projects may be in implementation. encouraging economic and technical cooperation. At any moment in time. symposia. To reach these goals. And APEC commits to take specific steps by 2013 to implement good regulatory practices by ensuring internal coordination of regulatory work. and conducting public consultation.2011 . and facilitating a favourable and sustainable business environment. when APEC initiated project work. addressing shared green growth objectives. APEC contributes funding to around 100-150 projects each year. The majority of projects are focused on transferring knowledge and skills between members and building capacity so that each economy can move closer towards the Bogor Goals of free and open trade and investment. assessing regulatory impacts. They help translate APEC Ministers' and Economic Leaders' policy directions into actions and create tangible benefits for people living in the Asia-Pacific region. and advancing regulatory cooperation and convergence.
principals of corporate governance. competition law and policy Capacity building for APEC’s developing members: ship and port security. focusing on trade-related issues. Projects cover a wide range of priority sectors.APEC also works to maximise the benefits of globalisation. phasing out fossil fuel subsidies. Each year APEC defines the key policy priorities and projects aim to contribute to these directions. traditional knowledge protection. and that help small. contribute to green growth. with particular focus on areas of relevance to APEC‘s fora. improve the skills of workers. . APEC Project Focus and Themes In 2010-2011. best practices for green ICT. APEC also supports projects that seek to make trade and doing business easier and more efficient such as: agreeing to common standards for product testing and labeling. Please see the Funding Criteria for APECFunded Projects in 2012. In particular. APEC supports projects that: promote public health. developing safer and more efficient transportation routes. Recent themes launched as APEC projects include: Regional economic integration: energy management standardization. green finance . medium and micro-sized enterprises to grow and access markets. APEC approved funding for 235 projects. trade of second generation biofuels. reduce the risks of and improve responses to natural disasters and emergencies. smart grids Structural reform: regulatory impact analysis. infectious disease prevention Information about individual projects can be found through the APEC Project Database. self-certification of origin Green growth: low-carbon model town . and providing information on each member's regulatory and legislative requirements for imports and exports. In addition to cooperation for trade liberalisation. intellectual property rights.
Mongolia. Costa Rica. Officials have decided not to allow India to join for various reasons. Pakistan. which all current members do. India does not border the Pacific Ocean. Program Executives and the Executive Office and the Budget Management Committee (BMC) regarding project matters. The PMU provides specialised advice and guidance to both internal and external APEC stakeholders. the decision was made not to admit more members until 2010. are among a dozen countries seeking membership in APEC by 2008. India has been invited to be an observer for the first time in November 2011. depending on members‘ contributions. Japan and Australia. Program Directors. Colombia applied for APEC's membership as early as in 1995. but its bid was halted as the organization stopped accepting new members from 1993 to 1996. However. Laos. Bangladesh. the number of projects funded each year has increased to up to 150 per year. Costa Rica. In addition to India. Possible enlargement India has requested membership in APEC.Development of APEC’s Projects APEC began funding projects in 1993 with three self-funded projects. and received initial support from the United States. However. To implement BMC-led project management reforms and effectively build project management skills and knowledge among APEC members. Over the same period. Colombia. the Secretariat established the Project Management Unit in 2007. for on-going. phased projects that continue for three to five years. The PMU brings a professionalised approach to projects and helps capacity in project management within the Secretariat and the wider APEC community. Panama and Ecuador. Since then. MYPs focus strategically on building capacity in members so that they can take full advantage of trade opportunities. the funds APEC committed to projects increased from just under $1 million to over $14 million per year. Moreover. Multi Year Projects In 2011 APEC launched a Multi-Year Project (MYP) initiative. It provides the main link between members. and the moratorium was further prolonged to 2007 due to the 1997 Asian Financial Crisis. Colombia and Ecuador had hoped to .
whether it has accomplished anything constructive remains debatable. which currently represents Guam. especially from the viewpoints of European countries that cannot take part in APEC. cooperation. Guam has also been actively seeking a separate membership. new policies. it is "the premier forum for facilitating economic growth. but the request is opposed by the United States. .org Advanced Micro & Macro Economics – Michael Vaz.com www. citing the example of Hong Kong. there is still a need for further advancement and constant research and technological development. Bibliography/ References www. Criticism/ Conclusion APEC has been criticized for failing to clearly define itself or serve a useful purpose. Advanced Economics Part I.apec. According to the organization. services in and between the member economies. to maintain a certain level of economic activity amongst the member countries. However.become members by 2010. trade and investment in the Asia-Pacific region" established to "further enhance economic growth and prosperity for the region and to strengthen the Asia-Pacific community".wikipedia. business.Andrew Benstein. Although there have been developments in enhancing trade.