APEC

WHAT IS APEC?
The full form of APEC is Asia-Pacific Economic Cooperation.
It was founded in 1989
It was formed as there was interdependence
between Asia-Pacific economies.
True to its name, it includes all the Pacific rim
countries and the Asian nations. It does not have
a specific logo but it is recognized with this
picture.

Map of Pacific ocean

The Pacific Ocean is the largest of the Earth's
oceanic divisions. It extends from the Arctic
Ocean in the north to the Southern Ocean in the
south and is bounded by Asia and Australia in the
west and the Americas in the east.

 So, APEC includes:

IT INCLUDES PACIFIC RIM AND ASIAN NATIONS.

APEC MEMBERS.
APEC has 21 member states as shown in the map
in the previous slide.
It includes Australia, Brunei, Canada, Chile,
China, Hongkong, Indonesia, Japan,
Malaysia, Mexico, New Zealand, Papua new
guinea, Peru, Philippines, Russia,
Singapore, South Korea, Taiwan, Thailand,
USA and Vietnam.
Its headquarter is in Singapore.

Important points
APEC seeks to promote free trade and economic cooperation throughout the Asia-Pacific region.
It has become the pre-eminent economic forum in the
Asia-Pacific region.
Do you know what an economic forum is ?
WorldEconomic Forum(WEF) is an independent nonprofit organization dedicated to improving
globaleconomicand social conditions on a global scale.
It is well known for its annual meeting held in January in
Davos, Switzerland.
Hence, APEC has become an organization like the WEF
helping Asia-Pacific nations solve their issues and
provide economic help.

OBJECTIVES OF APEC
Primary purpose- to facilitate economic growth and
prosperity in the region
To raise living standards and education levels
through sustainable economic growth.
Strengthen regional economic integration by
removing obstacles to trade beyond borders.
To support multilateral trade negotiations.
.

GATT General agreement

On Trade and Tariffs.

Conditions needed to satisfy the objectives of

APEC

APEC pursues objectives with the given

points:

Trade and investment

Liberalization
Business facilitation
Economic and technical co-operation

FACTS.

APEC members account for 40% of

population
54% of GDP
44% of world trade

 An annual APEC Economic Leaders Meeting is

attended by the heads of government of all APEC
members.
Location of meeting rotates annually among
member economies and until 2011, a famous
tradition involved the attending leaders dressing
in national costume of the host member.
The recent APEC leaders meeting was held in
Hawaii(USA) in November 2011.

The next APEC meeting will be

held in Peru- 19th and 20th
November 2016 in Lima.