KYO (Know Your Organization) -APEC Asia-Pacific Economic Cooperation (APEC) is a forum for 21 Pacific Rim member economies that seeks to promote free trade and economic cooperation throughout the Asia-Pacific region. It was established in 1989 in response to the growing interdependence of Asia-Pacific economies and the advent of regional trade blocs in other parts of the world; to fears that highly industrialized Japan (a member of G8 ) would come to dominate economic activity in the Asia-Pacific region; and to establish new markets for agricultural products and raw materials beyond Europe (where demand had been declining). APEC works to raise living standards and education levels through sustainable economic growth and to foster a sense of community and an appreciation of shared interests among Asia- Pacific countries. APEC includes newly industrialized economies, although the agenda of free trade was a sensitive issue for the developing NIEs at the time APEC founded, and aims to enable ASEAN economies to explore new export market opportunities for natural resources such as natural gas, as well as to seek regional economic integration (industrial integration) by means of foreign direct investment. Members account for approximately 40% of the worlds population, approximately 54% of the worlds gross domestic product and about 44% of world trade. For APEC Economic Trends Analysis in 2012, see. An annual APEC Economic Leaders Meeting is attended by the heads of government of all APEC members except Taiwan (which is represented by a ministerial-level official under the name Chinese Taipei as economic leader). The location of the meeting rotates annually among the member economies, and a famous tradition, followed for most (but not all) summits, involves the attending leaders dressing in a national costume of the host country. Asia-Pacific Economic Cooperation (APEC) Logo APEC member economies shown in green. Headquarters Singapore Type Economic forum Membership 21 members Leaders - APEC Host Economy 2014 China - Executive Director Dr. Alan Bollard Establishment 1989 Website - apec.org
Posted on: Wed, 24 Dec 2014 14:12:48 +0000
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