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By Bharat (05) Sakshi (21)

APEC is. The largest international organization in the Asian Pacific region formed in 1989 Currently 21 member economies Forum to promote economic growth in the AsiaPacific region Aims to reduce region wide barriers to trade and investment Aims to foster long-term cooperation in the region
Secretariat located at Singapore
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Mission:
APEC is the premier Asia-Pacific economic forum. Our

primary goal is to support sustainable economic growth and prosperity in the Asia-Pacific region. 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.
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We are united in our drive to build a dynamic and

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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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Multilateral economic and trade forum 21 member economies take turns hosting the APEC forum annually - the host at the meeting also serves as a chair of APEC Small contributions are made by member countries - special fundings are available on project basis

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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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Policy level
annual economic leaders meetings goals for the following year based on reports and recommendations, create Leaders Declaration

Working level
project coordination based on the annual agenda and policy goals Senior Official Meetings (usually quarterly) monitor projects and funding

Action plan level


Each and every member economy is responsible to work in the promotion of economic growth by participating in: Individual Action Plans Collective Action Plans

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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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Issue of the social dimension strengthen social safety net in the Asia Pacific Region equitable distribution of benefits of globalization

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Agricultural Technical Cooperation Experts Group (ATCEG) promotes agricultural technical cooperation between APEC member economies incorporates work of the FEEEP program

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APEC Counter Terrorism Action Plans (CTAPs) identify capacity and gaps in regional security frameworks encourage implementation measures to combat terrorism

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Excessive Diversity of Member States impediment to coalition/integration Defect of Key Principles -open regionalism -voluntarism

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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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