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APEC ASIA PACIFIC ECONOMIC COOPERATION

APEC ASIA PACIFIC ECONOMIC COOPERATION. GROUP 4 Euree Paik, Sylvie Park, Yoon Hee Hwang, Sinikka, Han Ju Yi, Amelie Michele. Table of Contents. What is APEC Goal Operation Structure History Achievements Topics of Interest-APEC Project Involvement Criticisms Conclusion.

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APEC ASIA PACIFIC ECONOMIC COOPERATION

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  1. APECASIA PACIFIC ECONOMIC COOPERATION GROUP 4 Euree Paik, Sylvie Park, Yoon Hee Hwang, Sinikka, Han Ju Yi, Amelie Michele

  2. Table of Contents • What is APEC • Goal • Operation • Structure • History • Achievements • Topics of Interest-APEC Project Involvement • Criticisms • Conclusion GROUP 4 - APEC

  3. Asia-Pacific Economic Cooperation APEC is…. • The largest international organization in the Asian Pacific region formed in 1989 • Forum to promote economic growth in the Asia-Pacific region • Aims to reduce region wide barriers to trade and investment • Aims to foster long-term cooperation in the region GROUP 4 - APEC

  4. APEC Overview • Formed in 1989 • Currently 21 member economies • Goal to promote economic growth • Population of 2.5 billion • Cumulative GDP of $19 trillion (USD) • 47% of world trade GROUP 4 - APEC

  5. Member Economies • 21 “member economies”- includes political entities - Australia, Brunei Darussalam, Canada, Chile, China, Hong Kong, Indonesia, Japan, the Republic of Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, the Russian Federation, Singapore, Chinese Taipei (Taiwan), Thailand, the United States of America, Viet Nam • Binds three major trading blocs -Asia, Oceania, America GROUP 4 - APEC

  6. Map of APEC GROUP 4 - APEC

  7. Policy Goals 1994, Borgor, Indonesia • “Borgor Goals”: free and open trade and investment in the Asia-Pacific by - 2010 for industrialized economies - 2020 for developing economies. GROUP 4 - APEC

  8. Operation • Multilateral economic and trade forum • 21 member economies take turns hosting the APEC forum annually - the host at the meeting also serves as a chair of APEC • Small contributions are made by member countries - special fundings are available on project basis GROUP 4 - APEC

  9. Operation Cont’d • Unique Features: • APEC requires no treaty obligation from the member economies • Decisions are reached by consensus • Commitments are undertaken voluntarily by member countries GROUP 4 - APEC

  10. Three Levels of Operation • Policy Level • Working Level • Action Plan Level GROUP 4 - APEC

  11. Leaders’ Meeting APEC Business Advisory Council Sectoral Ministerial Meetings Ministerial Meeting Senior Officials Meeting (SOM) APEC Secretariat Committee on Trade & Investment (CTI) Budget & Management Committee (BMC) SOM Committee on ECOTECH (ESC) Economic Committee (EC) SOM Special Task Groups Working Groups (11) Structure GROUP 4 - APEC

  12. APEC Timeline GROUP 4 - APEC

  13. Timeline cont’d GROUP 4 - APEC

  14. Achievements • Exports increased by 113 % • FDI grew by 210 % and by 475 % in lower income member countries • Gross Domestic Product grew by a third • As a result of strong economic performance Poverty in East Asian members fell by a third GROUP 4 - APEC

  15. Topic of Interest 1APEC Social Safety Net Capacity Building Network(APEC SSN CBN) • Issue of the social dimension  strengthen social safety net in the Asia Pacific Region  equitable distribution of benefits of globalization GROUP 4 - APEC

  16. Topic of Interest 2Agriculture • Agricultural Technical Cooperation Experts’ Group (ATCEG)  promotes agricultural technical cooperation between APEC member economies  incorporates work of the FEEEP program GROUP 4 - APEC

  17. Topic of Interest 3Counter Terrorism • APEC Counter Terrorism Action Plans (CTAPs)  identify capacity and gaps in regional security frameworks  encourage implementation measures to combat terrorism GROUP 4 - APEC

  18. APEC’s Criticisms • Excessive Diversity of Member States  impediment to coalition/integration • Defect of Key Principles -open regionalism -voluntarism GROUP 4 - APEC

  19. Concluding Remarks • APEC is an essential forum that clearly has positive impacts on trade liberalization. • Continuous improvement in weak areas is needed to move a step closer to the Bogor goals. GROUP 4 - APEC

  20. QUESTIONS? • Thank you everyone… • We now welcome any comments or questions you may have…. ^-^ GROUP 4 - APEC

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