apec asia pacific economic cooperation
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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. - PowerPoint PPT PresentationTRANSCRIPT
APECASIA PACIFIC ECONOMIC
COOPERATION
GROUP 4Euree Paik, Sylvie Park, Yoon Hee H
wang, Sinikka, Han Ju Yi,Amelie Michele
17 May 2006 GROUP 4 - APEC 2
Table of Contents What is APEC Goal Operation Structure History Achievements Topics of Interest-APEC Project
Involvement Criticisms Conclusion
17 May 2006 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
17 May 2006 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
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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
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Map of APEC
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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.
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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 c
hair of APEC Small contributions are made by member
countries - special fundings are available on project b
asis
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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
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Three Levels of Operation Policy Level
Working Level
Action Plan Level
annual economic leaders meetings – goals for the following year based on reports and recommendations, create “Leaders Declaration”
project coordination based on the annual agenda and policy goalsSenior Official Meetings (usually quarterly)monitor projects and funding
Each and every member economy is responsible to work in the promotion of economic growth by participating in:Individual Action PlansCollective Action Plans
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Committee on Trade &
Investment(CTI)
APEC Business Advisory Council
Sectoral MinisterialMeetings
Ministerial Meeting
Senior Officials Meeting (SOM)
Leaders’ Meeting
APEC Secretariat
Budget &ManagementCommittee
(BMC)
SOMCommittee on
ECOTECH (ESC)
EconomicCommittee
(EC)
SOM SpecialTask
Groups
Working Groups (11)
Structure
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A PEC Timeline
1989 Canberra, Australiabegins as an informal ministerial
group
1993 Blake Island, USA APEC’s vision outlined
1994 Bogor, Indonesiasetting of “Bogor Goals”
1995 Osaka,JapanOAA–framework for meeting the
Bogor Goals
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Timeline cont’d
1996 Manila, PhilippinesMAPA and ECOTECH established
1997 Vancouver, Canadaendorsing of EVSL & Individual
Action Plans
2001 Shanghai, People’s Republic of ChinaShanghai Accord & Security issues
2003 Bangkok, ThailandHealth Security Issues included
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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
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Topic of Interest 1 APEC 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
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Topic of Interest 2Agriculture
Agricultural Technical Cooperation Experts’ Group (ATCEG) promotes agricultural technical
cooperation between APEC member economies incorporates work of the FEEEP
program
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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
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APEC’s Criticisms Excessive Diversity of Member
States impediment to coalition/integration
Defect of Key Principles-open regionalism-voluntarism
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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.
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QUESTIONS?
Thank you everyone… We now welcome any comments
or questions you may have…. ^-^