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APEC SUMMITS
ACHIEVEMENTS APEC AND OTHER TRADE BLOCS UNDERSTANDING OPEN REGIONALISM
Asia-Pacific Economic Cooperation (APEC) is a unique international forum composed of 21 member economies of diverse cultural heritage and varying levels of economic development. Since its formation in 1989, APEC has expanded to become the primary vehicle for promoting trade liberalisation and economic cooperation in the Asia Pacific Region. APEC is committed to "open regionalism", striving for regional trade and investment liberalisation as a building block to strengthen the multilateral trading system and expand the global economy.
CONTD..
Australia Brunei Darussalam Canada Chile China Hong Kong SAR Indonesia
Japan Korea Malaysia Mexico New Zealand Papua New Guinea Peru*
APECS OBJECTIVES
Moving towards more open markets. Removing barriers to trade and investment. Encouraging stronger communications links in the region. Enhancing cooperation on regional problems
APEC work programs are conducted by the policy-related Committee on Trade and Investment, the Economic Committee and ten sectoral-based Working Groups on: Fisheries Human Resources Development Industrial Science & Technology Marine Resource Conservation Regional Energy Cooperation
Telecommunications Tourism Trade & Investment Data Review Trade Promotion Transportation
Apec activities
Committee on trade & disinvestment
Tariff and non tariff barriers Services investments Standards and conformance Customs procedures Intellectual property rights Competition policy Govt. procurement Deregulation Rules of origin Dispute mediation
Contd
Mobility of business people Implementation of WTO legislation Early voluntary sectoral liberation -Automotive dialogue -Chemical dialogue Trade facilitation ad hoc task force Economic committee Budget and management committee Ecotech sub-committee on SOM - Group on economic infrastructure
CONTD
Seven APEC economies experienced 100 percent growth in per capita GDP from 1989-00; only three experienced negative GDP growth rates in the 1990s Growth of APEC economies exports outpaced world exports
APEC HISTORY
APEC has come a long way since 1989. It has built steadily on the efforts of the past and looks forward to further progress. The initial years of APEC were focused largely on exchanges of views and projectbased initiatives. The concerns were simply to advance the process of Asia-Pacific Economic Cooperation and to promote a positive conclusion to the Uruguay Round of GATT negotiations. Today, APEC has evolved with the needs of its members to be a forum of greater substance and higher purposeit aims to build the Asia-Pacific community through achieving economic growth and equitable development through trade and economic cooperation.
Auckland Challenge
At their meeting in September 1999 in Auckland, APEC Leaders agreed that the performance and prospects of the APEC economies had improved, but they were not complacent about the risks to recovery In addition to reaffirming their commitment to the Bogor Goals of free and open trade and investment by 2010/2020, Leaders endorsed new APEC Principles to Enhance Competition and Regulatory Reform; further work on an APEC Food System
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APEC Achievements
Getting together Asian and non-ASIAN countries After Uruguay round of WTO,APEC has become a key venue APEC has become a key venue for discussing international economic integration, including so-called new issuescompetition policy, investment policy, intellectual property rights, free trade in services.
Tariff reduction on industrial goods Product category All industrial products Raw materials Semi-manufacturers Finished Products All tropical industrial products Raw materials Semi-manufacturers Finished Products Natural resource based products Raw materials semi-manufacturers Finished products Import value($billion)
0 3.4 2.4
2 2 9.9
TARIFF REDUCTION ON AGRICULTURAL PRRODUCTS(%) Product category DC's All agricultural products Fruits and vegetables Coffeen and tea Sugar Spices and cereal preparations Grains Animal and products Oil seeds,fats,oils Beverages and spirits Dairy products Others EU 37 36 38 30 38 39 32 40 38 28 48 37 28 41 27 43 44 42 42 28 36 48 USA 39 39 21 23 38 50 34 42 50 15 51 Japan 36 39 33 27 30 31 34 46 40 18 43
EUROMED NAFTA Mercosur Free Trade Area of the Americas (in addition to its subregionals) AFTA
Australia-New Zealand 0.1 APEC (in addition to its subregionals) 23.7 TOTAL 61.0
Contd.
Geopolitical impact
Some historians believe that regional trading arrangements (and economic blocs more broadly) may have contributed to political and even military clashes among nations. Ex. U.S. and nazi Germany
Unconditional MFN
APEC trade liberalization would be extended unconditionally to all of the members trading partners. No new preferences or discrimination would be created
Contd..
Conditional MFN
APEC as a group would offer to generalize its reductions of barriers to all nonmembers that agreed to take similar steps.
Growth liberalisation
APEC members to simply continue reducing their barriers on a global basis while pursuing their regional goals
APEC RECOMMENDATIONS
APEC indicate its willingness to extend the benefits of its regional liberalization to nonmembers who are willing to accept similar obligations toward the APEC membership APEC members liberalize their trade and investment barriers unilaterally to the maximum extent possible
Each individual APEC member remain free to extend the benefits of its own APEC liberalization to nonmember countries on either a conditional basis, via the negotiation of free trade arrangements with them, or on an unconditional MFN basis