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APEC ASIA PACIFIC ECONOMIC COOPERATION GROUP 4 Euree Paik, Sylvie Park, Yoon Hee Hwang, Sinikka, Han Ju Yi, Amelie Michele.

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Presentation on theme: "APEC ASIA PACIFIC ECONOMIC COOPERATION GROUP 4 Euree Paik, Sylvie Park, Yoon Hee Hwang, Sinikka, Han Ju Yi, Amelie Michele."— Presentation transcript:

1 APEC ASIA PACIFIC ECONOMIC COOPERATION GROUP 4 Euree Paik, Sylvie Park, Yoon Hee Hwang, Sinikka, Han Ju Yi, Amelie Michele

2 17 May 2006GROUP 4 - APEC2 Table of Contents  What is APEC  Goal  Operation  Structure  History  Achievements  Topics of Interest-APEC Project Involvement  Criticisms  Conclusion

3 17 May 2006GROUP 4 - APEC3 Asia-Pacific Economic Cooperation APEC is….  The largest international organization in the Asian Pacific region formed in 1989  Forum to promote economic growth in the Asia-Pacific region  Aims to reduce region wide barriers to trade and investment  Aims to foster long-term cooperation in the region

4 17 May 2006GROUP 4 - APEC4 APEC Overview  Formed in 1989  Currently 21 member economies  Goal to promote economic growth  Population of 2.5 billion  Cumulative GDP of $19 trillion (USD)  47% of world trade

5 17 May 2006GROUP 4 - APEC5 Member Economies  21 “member economies”- includes political entities - Australia, Brunei Darussalam, Canada, Chile, China, Hong Kong, Indonesia, Japan, the Republic of Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, the Russian Federation, Singapore, Chinese Taipei (Taiwan), Thailand, the United States of America, Viet Nam  Binds three major trading blocs -Asia, Oceania, America

6 17 May 2006GROUP 4 - APEC6 Map of APEC

7 17 May 2006GROUP 4 - APEC7 Policy Goals 1994, Borgor, Indonesia  “Borgor Goals”: free and open trade and investment in the Asia-Pacific by - 2010 for industrialized economies - 2020 for developing economies.

8 17 May 2006GROUP 4 - APEC8 Operation  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

9 17 May 2006GROUP 4 - APEC9 Operation Cont’d  Unique Features: APEC requires no treaty obligation from the member economies Decisions are reached by consensus Commitments are undertaken voluntarily by member countries

10 17 May 2006GROUP 4 - APEC10 Three Levels of Operation  Policy Level  Working Level  Action Plan Level  annual economic leaders meetings – goals for the following year  based on reports and recommendations, create “Leaders Declaration”  project coordination based on the annual agenda and policy goals  Senior Official Meetings (usually quarterly)  monitor projects and funding Each and every member economy is responsible to work in the promotion of economic growth by participating in:  Individual Action Plans  Collective Action Plans

11 17 May 2006GROUP 4 - APEC11 Committee on Trade & Investment (CTI) APEC Business Advisory Council Sectoral Ministerial Meetings Ministerial Meeting Senior Officials Meeting (SOM) Leaders’ Meeting APEC Secretariat Budget & Management Committee (BMC) SOM Committee on ECOTECH (ESC) Economic Committee (EC) SOM Special Task Groups Working Groups (11) Structure

12 17 May 2006GROUP 4 - APEC12 APEC Timeline 1989 Canberra, Australia begins as an informal ministerial group 1993 Blake Island, USA APEC’s vision outlined 1994 Bogor, Indonesia setting of “Bogor Goals” 1995 Osaka,Japan OAA–framework for meeting the Bogor Goals

13 17 May 2006GROUP 4 - APEC13 Timeline cont’d 1996 Manila, Philippines MAPA and ECOTECH established 1997 Vancouver, Canada endorsing of EVSL & Individual Action Plans 2001 Shanghai, People’s Republic of China Shanghai Accord & Security issues 2003 Bangkok, Thailand Health Security Issues included

14 17 May 2006GROUP 4 - APEC14 Achievements  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

15 17 May 2006GROUP 4 - APEC15 Topic of Interest 1 APEC Social Safety Net Capacity Building Network (APEC SSN CBN)  Issue of the social dimension  strengthen social safety net in the Asia Pacific Region  equitable distribution of benefits of globalization

16 17 May 2006GROUP 4 - APEC16 Topic of Interest 2 Agriculture  Agricultural Technical Cooperation Experts’ Group (ATCEG)  promotes agricultural technical cooperation between APEC member economies  incorporates work of the FEEEP program

17 17 May 2006GROUP 4 - APEC17 Topic of Interest 3 Counter Terrorism  APEC Counter Terrorism Action Plans (CTAPs)  identify capacity and gaps in regional security frameworks  encourage implementation measures to combat terrorism

18 17 May 2006GROUP 4 - APEC18 APEC’s Criticisms  Excessive Diversity of Member States  impediment to coalition/integration  Defect of Key Principles -open regionalism -voluntarism

19 17 May 2006GROUP 4 - APEC19 Concluding Remarks  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.

20 17 May 2006GROUP 4 - APEC20 QUESTIONS?  Thank you everyone…  We now welcome any comments or questions you may have…. ^-^

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