2. WHAT IS APEC
• AKA: Asia-Pacific Economic Cooperation
• Composed of 21 pacific rim countries
• Promoting free trade and economic cooperation throughout the
Asia-Pacific region
• Raise living standards and education in the Asia-Pacific region
3. MEMBER ECONOMIES
• 21 members
• The word 'economies' is used
because members are engaging
with one another as economic
entities
APEC Members Date of Joining
Australia 6-7 Nov 1989
Brunei Darussalam 6-7 Nov 1989
Canada 6-7 Nov 1989
Chile 11-12 Nov 1994
People's Republic of China 12-14 Nov 1991
Hong Kong, China 12-14 Nov 1991
Indonesia 6-7 Nov 1989
Japan 6-7 Nov 1989
Republic of Korea 6-7 Nov 1989
Malaysia 6-7 Nov 1989
Mexico 17-19 Nov 1993
New Zealand 6-7 Nov 1989
Papua New Guinea 17-19 Nov 1993
Peru 14-15 Nov 1998
The Philippines 6-7 Nov 1989
Russia 14-15 Nov 1998
Singapore 6-7 Nov 1989
Chinese Taipei 12-14 Nov 1991
Thailand 6-7 Nov 1989
The United States 6-7 Nov 1989
Viet Nam 14-15 Nov 1998
http://www.apec.org/About-Us/About-APEC/Member-
Economies.aspx
4. APEC’S MISSION
STATEMENT
APEC is the premier Asia-Pacific economic forum. Our primary
goal is to support sustainable economic growth and prosperity in
the Asia-Pacific region.
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.
http://www.apec.org/About-Us/About-APEC/Mission-Statement.aspx
5. HISTORY OF APEC
• January 1989: Prime Minister of Australia, Mr Bob Hawke,
mentions APEC in Seoul, Korea
• 1989: 12 countries meet in Australia and form APEC
• 1993: APEC's vision outlines, "stability, security and prosperity for
our peoples.“
• 1994: APEC sets the Bogor Goals (free and open trade and
investments)
• 1995: Osaka Action Agenda adopted (how to impose Bogor
Goals)
• 1996:The Manila Action Plan is adopted (trade and investment
liberalisation)
• 1997: Proposal for EVSL (liberalization) APEC decides that
Individual Action Plans should be updated annually.
• 1998: APEC agrees on the first nine sectors for EVSL and seeks
an EVSL agreement with non-APEC members at the World Trade
Organization.
6. HISTORY OF APEC
• 1999: Business Travel Card scheme is approved and Framework
for the Integration of Women is endorsed
• 2000: triple Internet access throughout APEC region
• 2001: APEC adopts the Shanghai Accord, an agenda to
strengthen market structures and institutions, facilitate
infrastructure investment and promote entrepreneurship and
human capacity building
• 2002: agenda to strengthen market structures and institutions,
facilitate infrastructure investment and technology for on-line
transactions and promote entrepreneurship and human capacity
building
• 2003: APEC agrees to re-energize the WTO Doha Development
Agenda negotiations
• 2004: APEC makes a political commitment to fight corruption and
ensure transparency
• 2005: APEC adopts the Busan Roadmap (last step Bogor Goals)
• 2006: APEC takes a strategic approach to reform working groups
7. HISTORY OF APEC
• 2007: APEC Member Economies issue a Declaration on Climate
Change, Energy Security and Clean Development
• 2008: APEC focused on reducing the gap between developing
and developed members
• 2009: The first-ever joint meetings of APEC senior trade and
finance officials are held to address the economic crisis, Ease of
Doing Business Action Plan adopted to make doing business in
the region 25 percent cheaper, faster and easier
• 2010: APEC holds its first-ever APEC Ministerial Meeting on
Food Security.
• 2011: Honolulu Declaration adopted, seamless regional
economy; addressing shared green growth objectives; and
advancing regulatory cooperation
• 2012: Vladivostok Declaration: Trade and Investment
Liberalization, Regional Economic Integration; Strengthening
Food Security; Establishing Reliable Supply Chains; and Intensive
Cooperation to Foster Innovative Growth
http://www.apec.org/About-Us/About-APEC/History.aspx
9. ACHIEVEMENTS OF
APEC
• Trade and investment
liberalisation
• 16.9% to 5.8% trade barriers
• APEC’s total trade increased
from $3.1 trillion to $16.8 trillion
• Cost of business transactions
across the region was reduced by
10%
• APEC contributes funding to
around 100-150 projects each
year
http://www.apec.org/About-Us/About-APEC/Achievements-and-Benefits.aspx
10. THREE PILLARS OF
APEC
• Trade and Investment Liberalisation
• Reduces and eventually eliminates tariff and non-tariff
barriers to trade and investment
• Business Facilitation
• Reduces the costs of business transactions, improving
access to trade information and aligning policy and
business strategies to facilitate growth, and free and open
trade
• Economic and Technical Cooperation
• Provides training and cooperation to build capacities in all
APEC Member Economies to take advantage of global
trade
http://www.apec.org/About-Us/How-APEC-Operates/Scope-of-Work.aspx
11. POLICY LEVEL
• Policy direction is provided by the 21 APEC Economic Leaders
• APEC Economic Leaders' Meeting: set the policy agenda
• APEC Ministerial Meeting: ministers provide recommendations
for APEC Economic Leaders' consideration
• Sectoral Ministerial Meetings: covers areas such as
education, energy, environment, finance, human resource
development, small and medium enterprises, tourism, trade,
transportation and women's affairs
• APEC Business Advisory Council (ABAC):provides a business
perspective on APEC issues and gives recommendations to
improve the business and investment environment
http://www.apec.org/About-Us/How-APEC-Operates/Policy-Level.aspx
12. WORKING LEVEL
• APEC's working level activities and projects are guided by
APEC Senior Officials
• Senior Officials' Meeting (SOM): Senior Officials guide the
activities of the Committees, Working Groups and Task Forces
and develop recommendations for Ministers and Leaders
• Committees, Working Groups, SOM Task Groups: work on
liberalization and coordination of trade and advises the SOM
and budetary
• Working Groups: Working Groups carry out APEC's work in
specific sectors
• SOM Special Task Groups/Ad-hoc Groups: identify issues and
make recommendations about important areas or fulfill other
tasks other groups do not accomplish
http://www.apec.org/About-Us/How-APEC-Operates/Working-Level.aspx
14. WHAT IS OPEC
• AKA: Organization of the Petroleum Exporting Countries
• Composed of 12 countries
• It is to coordinate the policies of the oil-producing countries
• The goal is to secure a steady income to the member states
and to secure supply of oil to the consumers
15. MEMBER COUNTRIES
• 12 countries
• Islamic Republic of Iran, Iraq, Kuwait, Saudi Arabia and
Venezuela were the founders of OPEC
• Later on 9 other countries join
http://www.opec.org/opec_web/en/about_us/25.htm
16. OPEC’S MISSION
STATEMENT
The mission of the Organization of the Petroleum Exporting
Countries (OPEC) is to coordinate and unify the petroleum
policies of its Member Countries and ensure the stabilization of oil
markets in order to secure an efficient, economic and regular
supply of petroleum to consumers, a steady income to producers
and a fair return on capital for those investing in the petroleum
industry.
http://www.opec.org/opec_web/en/about_us/23.htm
17. HISTORY OF OPEC
• September 10-14, 1960: created at the Baghdad Conference
by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela
• 1960s: OPEC was formed during a time of massive
decolonization and birth of many new independent states. It
adopted a ‘Declaratory Statement of Petroleum Policy in
Member Countries’ in 1968 (right of all countries to exercise
permanent sovereignty over their natural resources in the
interest of their national development)
• 1970s: Arab oil embargo in 1973 and the outbreak of the
Iranian Revolution in 1979 caused oil prices to rise steeply.
Establishment of the OPEC Fund for International
Development in 1976which embarked on ambitious socio-
economic development schemes
18. HISTORY OF OPEC
1980s: oil crashed in 1986 and OPEC’s total petroleum revenue
dropped below a third of earlier peaks. OPEC introduced a group
production ceiling and a Reference Basket for pricing. Environmental
issues emerged on the international energy agenda
1990s: OPEC action reduced the market impact of Middle East
hostilities in 1990–91. in 1998-99 prices went back down as low as
1986’s crash but came back up. As UN sponsored climate change
negotiations, OPEC lost one member while the other is just
suspended
2000s: An oil price band mechanism helped strengthen and stabilize
crude prices. Prices soared to record levels in mid-2008 and then
collapsed in the financial turmoil. Later on established stable energy
markets, sustainable development and the environment as three
guiding themes
http://www.opec.org/opec_web/en/about_us/24.htm
