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Transcript of APEC report
There has been a proliferation of regional groups in Asia, creating an impression that APEC is no longer a priority for its members APEC PROS AND CONS Negatives Business transactions and exchange of goods, services and technology will be greatly relaxed.
Investments will flow freely to and from developing economies.
Easier access to resources made available to industrialized member-economies giving a better chance for local industries to improve and compete in the global market.
Improvements in the energy, transportation, and telecommunication infrastructures APEC is in our every day lives Failing to clearly define itself or serve a useful purpose. Under APEC, member economies work together to reduce barriers to trade, ease the exchange of goods, services, resources and technical know-how, and strengthen economic and technical cooperation between and among them. South Korea Australia Japan Brunei Malaysia Singapore New Zealand U.S.A. Indonesia Canada Philippines Thailand in 1991 Hong Kong Taiwan People's Republic of China in 1993 Mexico Papua New Guinea Chile in 1998 Vietnam Russia Peru Established to protect the region from an increasingly competitive international trade environment. That would become even more crucial after 1992, when Europe drops its internal trade barriers More effective economic cooperation! Australian Prime Minister
1983-1991 Bob Hawke A forum for 21 Pacific Rim countries (formally Member Economies) that seeks to promote free trade and economic cooperation throughout the Asia-Pacific region. "APEC is the premier Asia-Pacific economic forum. Our primary goal is to support sustainable economic growth and prosperity in the Asia-Pacific region..." MISSION STATEMENT CORE VALUES Community Open Respect Excellence
To sustain the growth and development of the region for the common good of its people thus contributing to the growth of world economy;
To enhance the gains of both regional and world economy by encouraging the flow of goods, services, capital and technology; To develop and strengthen the open multilateral trading system in the interest of Asia-Pacific member economies and all other economies; and
To reduce barriers to trade in goods and services, and minimize hindrance to investment among its participants in a manner consistent with GATT/WTO principles, where applicable, and without detriment to other economies. FOUR MAIN OBJECTIVES How can this be attained? Liberalization Facilitation of Trade and Investment Technical Cooperation Economic Policy Coordination Bogor Goals APEC envisions full trade and investment liberalization and facilitation by 2010 for industrialized economies and 2020 for developing members. With respect to tariffs, the goal is zero tariffs in 2010 and 2020 for developed and developing countries, respectively. Bogor, Indonesia 1994 APEC's
Three Pillars Trade and Investment Liberalization Business Facilitation Economic and Technical Cooperation Operational targets set by the APEC leaders in Osaka to achieve the goal of free and open trade and investment in the Asia-Pacific region by 2020: Trade in goods
Trade in services
Administrative procedures Significance of APEC Collectively, the APEC members are considered the growth engine of the whole world economy.
APEC member-economies represent around two billion people or 42% of the world’s total population
APEC occupies 43% of the world's land area.
APEC accounted for almost half of the world's total merchandise exports in 1997. APEC is characterized by cultural diversity and varied levels of scientific and technological development.
Foster economic, political, and financial relationships with other Asian countries
Allows a forum to discuss issues (e.g. China-Philippines-Vietnam-Indonesia conflict on the Spratly Islands)
Allows Asian countries to dialogue with economic power houses such as Japan and USA Technical cooperation in Agriculture will raise productivity and hasten the rural area growth of developing APEC members like the Philippines.
APEC includes countries like Japan and China which are major sources of foreign investments.
Small and Medium Enterprises (SME’s) are critical factors in a country's development and 90% of all firms in APEC are SME’s.
Industrial science and technology could be developed through the flow of APEC regional information on technology, the research exchanges, and joint research projects Thank you for listening! Achievements The Asia-Pacific region has consistently been the most economically dynamic region in the world. Since APEC's inception in 1989, APEC's total trade has grown 395%, significantly outpacing the rest of the world. When APEC was established in 1989 average trade barriers in the region stood at 16.9%; by 2004 barriers had been reduced by approximately 70% to 5.5%.
Similarly, trade with the rest of the world has increased from US$3 trillion in 1989 to US$15 trillion in 2007, an average increase of 8.3% per year.
APEC has also acted as a catalyst in the advancement of World Trade Organisation multilateral trade negotiations over the past 20 years. APEC initiatives that help facilitate trade include:
Single Window systems which will allow importers and exporters to submit information to government once, instead of to multiple government agencies, through a single entry point.
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, concessions, prohibitions and other information. In 2000, APEC set a goal of tripling internet usage in the region and that goal has now been achieved, as recognised by the 2008 APEC Ministerial Meeting on the Telecommunications and Information Industry. APEC's new goal is to achieve universal access to broadband by 2015.
A network of 41 APEC Digital Opportunity Centers (ADOC) now operate in seven Member Economies. Counter-terrorism (The Shanghai Statement in 2001);
Human security (Health Working Group);
Emergency preparedness (Task Force for Emergency Preparedness);
Climate change, energy security and clean development (The Sydney Declaration in 2007); and
Global financial crisis (The Lima Statement in 2008). Individual Action Plan (IAP) are annual reports that record unilateral steps taken by members to meet the Bogor objectives of free and open trade by 2010 for developed economies and 2020 for developing economies APEC
Observers Three Official Observers:
Association of Southeast Asian Nations Secretariat
Pacific Economic Cooperation Council
Pacific Islands Forum Secretariat. Trade and Investment Liberalization Business Facilitation Economic and Technical Cooperation Other
Achievements VS The APEC Russia 2012 summit is the 24th annual gathering of APEC leaders. Leaders from the member economies are currently meeting on Russky Island, off the coast of Vladivostok, Russia from September 7-8 2012. QUIZ 1. How many member economies does APEC have? 2. Name one member economy (country) that joined
APEC last 1998. 3. What is that goal that envisions full trade and investment liberalization and facilitation by 2010 for industrialized economies and 2020 for developing members? 4. Where (country) will the APEC Summit 2012 be held? 5. When (year) was APEC established?