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Advancing Free Trade For Asia-Pacific Prosperity

The Asia-Pacific Economic Cooperation (APEC) was established in 1982 and includes 21 member economies focused on promoting free trade and economic cooperation in the Asia-Pacific region. APEC's goals are to achieve free and open trade and investment, raise living standards through cooperation, and its three pillars are trade and investment liberalization, business facilitation, and economic and technical cooperation. Over the years, APEC has reduced tariffs and simplified customs procedures to facilitate trade, and has also focused on empowering small businesses, workers, and women through education and skills development initiatives.

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44 views8 pages

Advancing Free Trade For Asia-Pacific Prosperity

The Asia-Pacific Economic Cooperation (APEC) was established in 1982 and includes 21 member economies focused on promoting free trade and economic cooperation in the Asia-Pacific region. APEC's goals are to achieve free and open trade and investment, raise living standards through cooperation, and its three pillars are trade and investment liberalization, business facilitation, and economic and technical cooperation. Over the years, APEC has reduced tariffs and simplified customs procedures to facilitate trade, and has also focused on empowering small businesses, workers, and women through education and skills development initiatives.

Uploaded by

nandini sahdev
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Asia-Pacific Economic Cooperation

Advancing free trade for Asia-Pacific prosperity


What is APEC?
 The Asia-Pacific Economic Cooperation, established in 1982, is one of the most
important global economic forums, with 21 “member economies”
 The word 'economies' is used to describe APEC members since it’s concerned
with trade and economic issues, with members engaging with one another as
economic entities
 APEC leaders in Bogor Indonesia committed in 1994 to achieve the goal of free
and open trade and investment in the Asia-Pacific by 2020
 Promoting free trade and economic cooperation throughout the Asia-Pacific
region
 Raise living standards and education in the Asia-Pacific region
Apec members Date of joining Apec members Date of joining

Australia 6-7 Nov 1989 Mexico 17-19 Nov 1993


New Zealand 6-7 Nov 1989
Brunei Darussalam 6-7 Nov 1989
Papua New 17-19 Nov 1993
Canada 6-7 Nov 1989 Guinea
Chile 11-12 Nov 1994 Peru 14-15 Nov 1998
People's Republic 12-14 Nov 1994 The Philippines 6-7 Nov 1989
of China
Russia 14-15 Nov 1998
Hong Kong, China 12-14 Nov 1994 Singapore 6-7 Nov 1989

Indonesia 6-7 Nov 1989 Chinese Taipei 12-14 Nov 1991


Thailand 6-7 Nov 1989
Japan 6-7 Nov 1989
The United 6-7 Nov 1989
Republic of Korea 6-7 Nov 1989 States
Malaysia 6-7 Nov 1989 Viet Nam 14-15 Nov 1998
APEC’s three pillars:

Trade and
investment
liberalization

Business
facilitation

Economic and
technical
cooperation
• Trade and Investment liberalization
Focuses on opening up markets and integration

• Business facilitation
Aims to improve the ease of doing business and reduce the trading costs
across the economies

• Economic and Technical Cooperation


Enables businesses to take advantage of global trade in a sustainable way
Steps taken under taken Apec
 Ensuring that people are well placed to gain from the global trade in the
long term
 Helping small businesses to get loans and access foreign markets
 Educating youth in the use of information technology
 Empowering women to play a bigger role in APEC economies
 There have been significant reductions in average tariffs over last 20 years
 Simplified customs procedures
 Travelling made easy with Apec travel card
Major changes were brought to:

Supply Chain Activity

Energy Security

Human Security
Thankyou!

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