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Marie Lowe Anderson

Patricia Maxion
Nikka Yanga
3H1 - Internationa Business

ABOUT APEC
Apec Is the premier forum for facilitating economic growth, cooperation, trade and investment in
the Asia-Pacific region. APEC was established in 1989. APEC is the only inter governmental
grouping in the world operating on the basis of non-binding commitments, open dialogue and
equal respect for the views of all participants. Unlike the WTO or other multilateral trade bodies,
APEC has no treaty obligations required of its participants. Decisions made within APEC are
reached by consensus and commitments are undertaken on a voluntary basis. APEC has 21
members - referred to as "Member Economies" - which account for approximately 40.5%1 of the
world's population, approximately 54.2%1 of world GDP and about 43.7%2 of world trade. One of
the world largest regional economic cooperation organizations, and also one of the most
important international multilateral economic cooperation organizations.

HISTORY
The idea of APEC was firstly publicly broached by former Prime Minister of Australia, Mr Bob
Hawke, during a speech in Seoul, Korea in January 1989 Later that year, 12 Asia-Pacific
economies met in Canberra, Australia to establish APEC. The founding members were: Australia,
Brunei Darussalam, Canada, Indonesia, Japan, Korea, Malaysia, New Zealand, the Philippines,
Singapore, Thailand and the United States.Then more economies followed. Between 1989 and
1992, APEC met as an informal senior official and Ministerial level dialogue. In 1993, former
United States President, Mr Bill Clinton, established the practice of an annual APEC Economic
Leaders' Meeting. A moratorium on new membership stands until the end of 2010, at which point
APEC member economies will consider whether or not to lift the moratorium.

APEC logo
(insert picture here. Now and before)
In 1991, the Republic of Korea initiated the design of the APEC Logo for the Seoul Ministerial
Meeting. The globe-shaped green, blue and white APEC logo was thus adopted in 1991. The
logo has come to represent not only APEC, the most important vehicle for regional economic
cooperation, but also the hopes and aspirations of the Asia-Pacific region itself.

The Logo shows:


-The Pacific half of the globe which emphasizes APEC’s membership.
-The green and blue colours symbolize the aspirations of the people in the Asia Pacific for a life of
prosperity, health and welfare, while the white colour stands for peace and stability.
-The shaded areas at the margins illustrate the buoyant outlook for progress and growth for the
Asia-Pacific region.

The APEC Secretariat undertook an exercise in 2007 to refresh the APEC logo, the most visible
expression of the forum's branding and corporate identity. After reviewing proposals that were
submitted as a result of an open bid process, Senior Officials approved the new logo at their third
meeting in July 2007. The new logo was presented to Leaders and Ministers a few months later
when they met in Sydney.Originally adopted in 1991, the globe-shaped green, blue and white
APEC logo was refreshed in 2007 to make it more compatible with a wider range of applications.

Purpose and Goals

To further enhance economic growth and prosperity for the region and to strengthen the Asia-
Pacific community. APEC has worked to reduce tariffs and other trade barriers across the Asia-
Pacific region, creating efficient domestic economies and dramatically increasing exports. Free
and open trade and investment helps economies to grow, creates jobs and provides greater
opportunities for international trade and investment and it also helps to lower the costs of
production and thus reduces the prices of goods and services - a direct benefit to all.APEC also
works to create an environment for the safe and efficient movement of goods, services and
people across borders in the region through policy alignment and economic and technical
cooperation.

Mission Statement

•We are united in our drive to build a dynamic and harmonious Asia-Pacific community by
championing free and open trade and investment, promoting and accelerating regional
economic integration, encouraging economic and technical cooperation, enhancing
human security, and facilitating a favorable and sustainable business environment. Our
initiatives turn policy goals into concrete results and agreements into tangible benefits.

Key to achieving APEC's vision are what are referred to as the 'Bogor Goals' of free and open
trade and investment in the Asia-Pacific by 2010 for industrialised economies and 2020 for
developing economies.These goals were adopted by Leaders at their 1994 meeting in Bogor,
Indonesia.

Member Economies

APEC has 21 members. The word 'economies' is used to describe APEC members because the
APEC cooperative process is predominantly concerned with trade and economic issues, with
members engaging with one another as economic entities.

http://www.apec.org/About-Us/About-APEC/Member-Economies.aspx - dto mo kunin ung


members. d ko mapaste d ako naka word e. haha!

Achievements and Benefits

•Since APEC's inception in 1989, APEC's total trade has grown 395%, significantly outpacing the
rest of the world. The Asia-Pacific region has consistently been the most economically
dynamic region in the world. In the same period, GDP (in purchasing power parity terms)
in the APEC region has tripled, while GDP in the rest of the world has less than doubled.

•Trade and Investment Liberalisation.


-Average trade barriers in the region stood at 16.9%; by 2004 barriers had been reduced by
approximately 70% to 5.5%.
-Over 30 bilateral free trade agreements (FTAs) have been concluded between APEC Member
Economies.
-APEC has also acted as a catalyst in the advancement of World Trade Organisation multilateral
trade negotiations over the past 20 years.

•Business Facilitation
-As a result of the APEC Trade Facilitation Action Plan (TFAP I) the cost of business transactions
across the region was reduced by 5% between 2002 and 2006.
-In 2008, a groundbreaking Investment Facilitation Action Plan was endorsed; it aims to improve
the investment environment in Member Economies.
-The APEC Privacy Framework provides guidance and direction to both APEC Member
Economies and businesses on implementing information privacy protection policies and
procedures.

•Economic and Technical Cooperation


-Since APEC first began to undertake capacity building work in 1993, more than 1200 projects
have been initiated; and in 2008, APEC was implementing a total of 212 capacity building
projects with a total value of US$13.5m.
-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 Economic and Technical Cooperation (ECOTECH) activities are designed to build
capacity and skills in APEC Member Economies at both the individual and institutional level, to
enable them to participate more fully in the regional economy and the liberalisation process.

Corporate Social Responsibility

CSR is a priority to APEC because it involves private sector dialogue and the voluntary adoption
of standards, the nature of CSR is similar to that of APEC. It is a logical and synergistic
relationship: As the region is home to many influential and international corporations, APEC can
stimulate and support CSR activities. Across APEC member economies, CSR perspectives vary
and, accordingly, so do styles of implementation. In general, however, it has been recognized
that:

-CSR can facilitate improved trade and investment environments.


-Development of capacity to implement CSR is therefore critical.

China & APEC

APEC plays an important dynamic role in world economy, and has been one of the key platforms
to promote trade investment and economic technology cooperation in Asia Pacific region. China
pays high attentions to APEC work, and Chinese President has himself taken part in each APEC
Economic Leaders' Meeting from 1993 to 2009. China has fully taken part in various APEC
activities, which creates a good external environment for China's reform and opening up and
plays a pivotal role in the development of China's relationship with other APEC member
economies.