Essay title: Apec
Asia-Pacific Economic Cooperation (APEC) began in 1989 in reaction to the developing interdependence among Asia-Pacific economies. At first this organization was a group that met unofficially. APEC now has become the crucial provincial conduit for encouraging open trade and realistic economic cooperation. It’s objective is to progress Asia-Pacific economic vitality and the essence of the people.
APEC consists of 21 nations and other political units that border the Pacific Ocean. Economic and political alliances have been formed among the countries of the Pacific Rim. APECs aims include reducing trade barriers among its members and to further trade and investment in the region. Its principles are to support economic growth and development of the region and world economic liberalization, to reduce barriers of the trade of goods, services and investment, and to facilitate economic, technical and investment cooperation among its member economies. (
There are now twenty-one active members in APEC. Twelve nations have been members since the group was formed in 1989: Australia, Brunei, Canada, Indonesia, Japan, Malaysia, New Zealand, the Philippines, Singapore, South Korea, Thailand, and the United States. In 1991, China, Hong Kong, and Taiwan became members. Mexico and Papua New Guinea joined in 1993, and Chile in 1994. Hong Kong became a special administrative region of China in 1997 but kept its separate membership in APEC. Peru, Russia, and Vietnam became members in 1998. (
The first two years of APEC, the members set up ten groups that would investigate opportunities for cooperation. The members of APEC meet annually since the beginning of the formation of APEC. In 1993 the heads of APEC met to constitute working groups to inquire about local cooperation in the areas of higher education, human resource development, and trade and investment. They also set up the Pacific Business Forum. The Pacific Business Forum was created to elevate immediate cooperation with privately owned businesses. Through many forums and meeting APEC agreed to implant a free-trade zone in the midst of their countries by the year 2020.
APEC has divided its members into different groups. There are working groups and committees. The working groups consist of Agricultural Technical Cooperation, Energy, Fisheries, Human Resources Development, Industrial Science and Technology, Marine Resource Conservation, Small and Medium Enterprises, Telecommunications and Information, Tourism, Trade Promotion, and Transportation. (
The APEC Telecommunications and Information Working Group (TEL) provides an important mechanism among APEC member economies for exchanging information, consulting on policy and regulatory developments, and developing cooperative projects in the telecommunications sector. (
In 1993 APEC established The Committee on Trade and Investment (CTI). The Committee on Trade and Investment synchronizes APEC’s vocation on the liberalization and facilitation of trade and investment. It works to lessen obstructions to business activity in fifteen specific areas. These areas are tariffs and non-tariff measures; services; investment; standards and conformance; customs procedures; intellectual property rights; competition policy; government procurement; deregulation; rules of origin; dispute mediation; mobility of business people; and implementation of WTO obligations. (
The achievement of The Committee of Trade and Investment began in 2001. The committee made substantial advancement to the Osaka