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Asia Pacific Economic Cooperation 
(APEC): 
Activities and Future Goals 
Odesola, Victoria O.
Outline of Report 
 I. APEC Back-study 
 A. History 
 B. Member Economies 
 C. Key Milestones 
 D. Mission/Vision Statement 
 II. APEC Future Plans 
 A. Enlargement 
 B. Bogor Goals 
1. Trade and Investment liberalizations 
2. Business Facilitation 
3. Economic and Technical Cooperation 
4. The 14 Bogor Scope Areas 
 D. APEC CEO Summit 2014 
 E. Economic Leaders’ Meeting 2014 
 III. Problems and Criticisms Faced
Asia Pacific Economic Cooperation (APEC)
APEC Forum 
 APEC is the premier forum for facilitating economic 
growth, cooperation, trade and investment in the Asia- 
Pacific region. 
 It is an inter-governmental forum, which operates on the 
basis of non binding commitment and open dialog. 
 No treaty obligations 
 APEC has 21 member economies with a population of over 
2.6 billion which accounts for more than 40% of the 
world’s population. 
 APEC countries have a combined GDP of 21 trillion US 
dollars which is more than half of world GDP. 
 APEC accounts for nearly half of world trade.
History 
 APEC began as an informal Ministerial-level dialogue group in 
Canberra, Australia in 1989. It is a 21 member economic 
forum at present. 
 Founding members are: 
Australia, New Zealand 
6 ASEAN economies 
Japan and South Korea 
Canada and the United States
Member Economies 
* Australia * Malaysia 
* Brunei Darussalam * Mexico 
* Canada * New Zealand 
* Chile * Papua New Guinea 
* People's Republic of China * Peru 
* The Republic of the Philippines * Hong Kong, China 
* The Russian Federation * Japan 
* United States of America * Indonesia 
* Chinese Taipei * Singapore 
* Republic of Korea * Viet Nam 
*Thailand
Key Milestones 
 1993- In the United States the Economic Leaders meet for the first time in 
Blake Island, Washington and outline APEC’s vision, “stability, security, and 
prosperity for our peoples”. 
 1994- In Indonesia APEC sets the Bogor Goals of “free and open trade 
investment in the Asia Pacific by 2010 for developed countries and 2020 for 
developing countries. 
 1995- In Japan the framework for meeting the Bogor goals through trade and 
investment liberalization, business facilitation and sectorial activities, 
underpinned by policy dialogues and finally, economic and technical 
cooperation. 
 1996- In the Philippines, the Manila Action Plan for APEC (MAPA) is adopted, 
outlining the trade and investment liberalization and facilitation measures to 
reach the Bogor goals. 
 1999- In New Zealand, APEC commits to paperless trading by 2005 in 
developed economies and 2010 in developing economies.
Key Milestones 
 2001- In People’s Republic of China, APEC adopts the Shanghai Accord, 
which focuses on broadening the APEC vision, clarifying the roadmap to 
Bogor and strengthening the implementation mechanism. 
 2005- In Korea, APEC adopts the Busan Roadmap, completes the mid-term 
Stocktake, which gauges that APEC is well on its way to meeting the 
Bogor Goals. 
 2007- In Australia, for the first time APEC member economies issue a 
Declaration on Climate Change, Energy Security, and Open Development. 
 2013- In Indonesia, the Bali Package is concluded. The target is then set 
for a yearly enrolment of one million students in the intra-APEC 
university by 2020. The first joint APEC ministerial meeting on Women 
and SMEs issues especially to protect women entrepreneurship.
Mission/Vision 
 To support sustainable economic growth and prosperity in Asia-Pacific region 
 To build a dynamic and harmonious Asia-Pacific community 
 Decrease number of obstacles in trade and also reduce tariffs across APEC nations 
 Set it’s eye on achieving ‘Bogor goals’ by the year 2010 
 To encourage the flow of goods, services, capital, and technology 
 To develop and strengthen the multilateral trading system;
APEC Relations 
----ASEAN and APEC 
 ASEAN has been at APEC's core from the very beginning and is doing its part to advance 
APEC's purposes and is consistent with APEC goals. 
 ASEAN Free Trade Area (AFTA) can be said to be a building block for the fulfillment of 
the goals that APEC set for eventual free trade among its members. 
 It can be said that the two organizations could be seen as complementing, and not 
competing with each other. 
----NAFTA and APEC 
 Accomplishment of Bogor goals and free trade among APEC member economies leads 
to significant trade diversion from western countries to APEC member economies. 
 Western economies trying to maintain balance of power between east and west in 
APEC decisions by restricting Asian countries into economic co-operation.
Future Plans for Enlargement 
 India has requested membership in 
APEC and received initial support from 
the United States, Japan and 
Australia. However officials did not 
allow India to join for various reasons. 
 Interested Economies 
 Pakistan 
 Bangladesh 
 Sri Lanka 
 Macau 
 Mongolia 
 Laos 
 Cambodia 
 Costa Rica 
 Colombia 
 Panama 
 Ecuador
Asia Pacific Economic Cooperation (APEC)
Bogor Goals 
 Free and open trade and investment in the Asia-Pacific 
 by 2010 for developed economies 
 by 2020 for developing economies
Bogor Goals & 3 Pillars 
 Three specific areas crucial to achieving the Bogor Goals: 
 Trade and investment liberalization 
 Business facilitation 
 Economic and technical cooperation
Trade and Investment liberalization 
Reducing and eliminating tariff among member 
countries 
Reducing and eliminating non-tariff barriers to trade 
and investment 
Opening of markets
Business facilitation 
 Reducing the costs of business transactions 
 Improving access to trade information 
 Bringing into line policy and business strategies to 
facilitate growth 
 Free and open trade
Economic and Technical Cooperation 
 ECOTECH is dedicated to providing training and cooperation 
to build capacities in all APEC Member Economies to take 
advantage of global trade. 
 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 14 ‘Bogor Areas’ 
Tariffs 
Non-Tariff Measures 
 Services 
 Investment 
 Standards & Conformance 
 Customs Procedures 
 Intellectual Property Right 
 Competition Policy 
 Government Procurement 
 Deregulation/ Regulatory 
Reform 
Transparency 
 Dispute Mediation 
 Mobility of Business People 
RTA/FTAs (Regional and 
Free Trade Agreements)
APEC CEO Summit 2014 
 This most important event in APEC Leaders’ Week took place on 
November 8-10, 2014 in Beijing, China with the theme: 
“New Vision for Asia Pacific: Creativity, Connectivity, 
Integration, Prosperity” 
This included discussions on the global economic outlook, regional 
integration, innovation, infrastructure and finance.
APEC CEO Summit 2014 
 A total of 43 influential speakers from companies like, 
 Microsoft, Blackberry, World Trade Organization, Johnson & Johnson, etc 
 Global Economy Today 
 Outlook for regional economic integration 
 Economic Reforms for Sustaining Competitiveness 
 Building the Innovative Economy 
 Looking beyond Business as Usual 
 Securing the Future of Global Finance 
 Accelerating Regional Connectivity 
 Global Inequality
APEC Economic Leaders’ Meeting 
 Held annually since 1993 
 1993, Blake Island, Seattle, US 
 Suggested by the then US 
President Bill Clinton
APEC Economic Leaders’ Meeting 2014 
 The proposed achievement as laid down by this year’s host 
economy’s president, China’s Xi Jinping: 
 1. The launch of the Free Trade Area of the Asia-Pacific 
 2. Issuance of a statement for the 25th anniversary of APEC 
 3. The meeting will promote innovation, reforms and growth to 
seek new momentum for long-term development of the Asia-Pacific 
 4. A blueprint will be made to lay a solid foundation for all-round 
connectivity in the Asia-Pacific.
APEC Economic Leaders’ Meeting 2014 
 In this year’s meeting the leaders adopted two very 
important documents: 
 The 22nd APEC Economic Leaders’ Declaration: Beijing Agenda for an 
Integrated, Innovative, and Interconnected Asia Pacific. 
 Statement on the 25th Anniversary of APEC: Shaping the Future 
through Asia-Pacific Partnership
Problems and Criticism Faced 
 Border Barriers 
 The still high cost of international commerce 
 Little to no collaboration on other issues 
 It’s being said that APEC is too large, too diverse 
 Has no identity and its goal too abstract 
 Processes are slow and cumbersome 
 No attention to cultural aspect of cooperation
References 
 www.apec.org 
 en.Wikipedia.org/wiki/Asia-Pacific_Economic_Cooperation 
 www.apec-china.org 
 www.trademinister.gov.au 
 www.economywatch.com
Asia Pacific Economic Cooperation (APEC)

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Asia Pacific Economic Cooperation (APEC)

  • 1. Asia Pacific Economic Cooperation (APEC): Activities and Future Goals Odesola, Victoria O.
  • 2. Outline of Report  I. APEC Back-study  A. History  B. Member Economies  C. Key Milestones  D. Mission/Vision Statement  II. APEC Future Plans  A. Enlargement  B. Bogor Goals 1. Trade and Investment liberalizations 2. Business Facilitation 3. Economic and Technical Cooperation 4. The 14 Bogor Scope Areas  D. APEC CEO Summit 2014  E. Economic Leaders’ Meeting 2014  III. Problems and Criticisms Faced
  • 4. APEC Forum  APEC is the premier forum for facilitating economic growth, cooperation, trade and investment in the Asia- Pacific region.  It is an inter-governmental forum, which operates on the basis of non binding commitment and open dialog.  No treaty obligations  APEC has 21 member economies with a population of over 2.6 billion which accounts for more than 40% of the world’s population.  APEC countries have a combined GDP of 21 trillion US dollars which is more than half of world GDP.  APEC accounts for nearly half of world trade.
  • 5. History  APEC began as an informal Ministerial-level dialogue group in Canberra, Australia in 1989. It is a 21 member economic forum at present.  Founding members are: Australia, New Zealand 6 ASEAN economies Japan and South Korea Canada and the United States
  • 6. Member Economies * Australia * Malaysia * Brunei Darussalam * Mexico * Canada * New Zealand * Chile * Papua New Guinea * People's Republic of China * Peru * The Republic of the Philippines * Hong Kong, China * The Russian Federation * Japan * United States of America * Indonesia * Chinese Taipei * Singapore * Republic of Korea * Viet Nam *Thailand
  • 7. Key Milestones  1993- In the United States the Economic Leaders meet for the first time in Blake Island, Washington and outline APEC’s vision, “stability, security, and prosperity for our peoples”.  1994- In Indonesia APEC sets the Bogor Goals of “free and open trade investment in the Asia Pacific by 2010 for developed countries and 2020 for developing countries.  1995- In Japan the framework for meeting the Bogor goals through trade and investment liberalization, business facilitation and sectorial activities, underpinned by policy dialogues and finally, economic and technical cooperation.  1996- In the Philippines, the Manila Action Plan for APEC (MAPA) is adopted, outlining the trade and investment liberalization and facilitation measures to reach the Bogor goals.  1999- In New Zealand, APEC commits to paperless trading by 2005 in developed economies and 2010 in developing economies.
  • 8. Key Milestones  2001- In People’s Republic of China, APEC adopts the Shanghai Accord, which focuses on broadening the APEC vision, clarifying the roadmap to Bogor and strengthening the implementation mechanism.  2005- In Korea, APEC adopts the Busan Roadmap, completes the mid-term Stocktake, which gauges that APEC is well on its way to meeting the Bogor Goals.  2007- In Australia, for the first time APEC member economies issue a Declaration on Climate Change, Energy Security, and Open Development.  2013- In Indonesia, the Bali Package is concluded. The target is then set for a yearly enrolment of one million students in the intra-APEC university by 2020. The first joint APEC ministerial meeting on Women and SMEs issues especially to protect women entrepreneurship.
  • 9. Mission/Vision  To support sustainable economic growth and prosperity in Asia-Pacific region  To build a dynamic and harmonious Asia-Pacific community  Decrease number of obstacles in trade and also reduce tariffs across APEC nations  Set it’s eye on achieving ‘Bogor goals’ by the year 2010  To encourage the flow of goods, services, capital, and technology  To develop and strengthen the multilateral trading system;
  • 10. APEC Relations ----ASEAN and APEC  ASEAN has been at APEC's core from the very beginning and is doing its part to advance APEC's purposes and is consistent with APEC goals.  ASEAN Free Trade Area (AFTA) can be said to be a building block for the fulfillment of the goals that APEC set for eventual free trade among its members.  It can be said that the two organizations could be seen as complementing, and not competing with each other. ----NAFTA and APEC  Accomplishment of Bogor goals and free trade among APEC member economies leads to significant trade diversion from western countries to APEC member economies.  Western economies trying to maintain balance of power between east and west in APEC decisions by restricting Asian countries into economic co-operation.
  • 11. Future Plans for Enlargement  India has requested membership in APEC and received initial support from the United States, Japan and Australia. However officials did not allow India to join for various reasons.  Interested Economies  Pakistan  Bangladesh  Sri Lanka  Macau  Mongolia  Laos  Cambodia  Costa Rica  Colombia  Panama  Ecuador
  • 13. Bogor Goals  Free and open trade and investment in the Asia-Pacific  by 2010 for developed economies  by 2020 for developing economies
  • 14. Bogor Goals & 3 Pillars  Three specific areas crucial to achieving the Bogor Goals:  Trade and investment liberalization  Business facilitation  Economic and technical cooperation
  • 15. Trade and Investment liberalization Reducing and eliminating tariff among member countries Reducing and eliminating non-tariff barriers to trade and investment Opening of markets
  • 16. Business facilitation  Reducing the costs of business transactions  Improving access to trade information  Bringing into line policy and business strategies to facilitate growth  Free and open trade
  • 17. Economic and Technical Cooperation  ECOTECH is dedicated to providing training and cooperation to build capacities in all APEC Member Economies to take advantage of global trade.  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.
  • 18. The 14 ‘Bogor Areas’ Tariffs Non-Tariff Measures  Services  Investment  Standards & Conformance  Customs Procedures  Intellectual Property Right  Competition Policy  Government Procurement  Deregulation/ Regulatory Reform Transparency  Dispute Mediation  Mobility of Business People RTA/FTAs (Regional and Free Trade Agreements)
  • 19. APEC CEO Summit 2014  This most important event in APEC Leaders’ Week took place on November 8-10, 2014 in Beijing, China with the theme: “New Vision for Asia Pacific: Creativity, Connectivity, Integration, Prosperity” This included discussions on the global economic outlook, regional integration, innovation, infrastructure and finance.
  • 20. APEC CEO Summit 2014  A total of 43 influential speakers from companies like,  Microsoft, Blackberry, World Trade Organization, Johnson & Johnson, etc  Global Economy Today  Outlook for regional economic integration  Economic Reforms for Sustaining Competitiveness  Building the Innovative Economy  Looking beyond Business as Usual  Securing the Future of Global Finance  Accelerating Regional Connectivity  Global Inequality
  • 21. APEC Economic Leaders’ Meeting  Held annually since 1993  1993, Blake Island, Seattle, US  Suggested by the then US President Bill Clinton
  • 22. APEC Economic Leaders’ Meeting 2014  The proposed achievement as laid down by this year’s host economy’s president, China’s Xi Jinping:  1. The launch of the Free Trade Area of the Asia-Pacific  2. Issuance of a statement for the 25th anniversary of APEC  3. The meeting will promote innovation, reforms and growth to seek new momentum for long-term development of the Asia-Pacific  4. A blueprint will be made to lay a solid foundation for all-round connectivity in the Asia-Pacific.
  • 23. APEC Economic Leaders’ Meeting 2014  In this year’s meeting the leaders adopted two very important documents:  The 22nd APEC Economic Leaders’ Declaration: Beijing Agenda for an Integrated, Innovative, and Interconnected Asia Pacific.  Statement on the 25th Anniversary of APEC: Shaping the Future through Asia-Pacific Partnership
  • 24. Problems and Criticism Faced  Border Barriers  The still high cost of international commerce  Little to no collaboration on other issues  It’s being said that APEC is too large, too diverse  Has no identity and its goal too abstract  Processes are slow and cumbersome  No attention to cultural aspect of cooperation
  • 25. References  www.apec.org  en.Wikipedia.org/wiki/Asia-Pacific_Economic_Cooperation  www.apec-china.org  www.trademinister.gov.au  www.economywatch.com