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Readers ask: What does APEC stand for?

The Asia-Pacific Economic Cooperation, or APEC, is the leading forum in the Asia-Pacific to facilitate trade and investment, economic growth, and regional cooperation.

What is the main purpose of APEC?

APEC is the premier Asia-Pacific economic forum. Our primary goal is to support sustainable economic growth and prosperity in the Asia-Pacific region.

What is the APEC meaning?

Asia-Pacific Economic Cooperation (APEC) is a forum of 21 Asia-Pacific economies. APEC’s member economies are home to more than 2.7 billion people and make up over half of global GDP.

Who are APEC members?

APEC’s 21 member economies are Australia; Brunei Darussalam; Canada; Chile; People’s Republic of China; Hong Kong, China; Indonesia; Japan; Republic of Korea; Malaysia; Mexico; New Zealand; Papua New Guinea; Peru; The Philippines; The Russian Federation; Singapore; Chinese Taipei; Thailand; United States of America;

What has APEC achieved?

APEC has grown to become a dynamic engine of economic growth and one of the most important regional forums in the Asia-Pacific. Its 21 member economies are home to around 2.9 billion people and represent approximately 60 percent of world GDP and 48 percent of world trade in 2018.

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Does APEC exist?

Member economies APEC currently has 21 members. APEC also includes three official observers: ASEAN, the Pacific Islands Forum and the Pacific Economic Cooperation Council.

What’s OECD countries?

The Organisation for Economic Co-operation and Development (OECD) is a group of 37 member countries that discuss and develop economic and social policy. Members of the Organisation for Economic Co-operation and Development (OECD) are typically democratic countries that support free-market economies.

Who Create APEC?

The idea of APEC was firstly publicly broached by former Prime Minister of Australia Bob Hawke during a speech in Seoul, Korea, on 31 January 1989. Ten months later, 12 Asia-Pacific economies met in Canberra, Australia, to establish APEC.

What countries does APEC card cover?

APEC member economies fully participating in the scheme include Australia, Brunei Darussalam, Chile, China, Hong Kong, Indonesia, Japan, Republic of Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, Philippines, Russia, Singapore, Taiwan (Chinese Taipei), Thailand, and Vietnam.

What is Asean and APEC?

Asia-Pacific Economic Cooperation (APEC) is the premier forum for facilitating economic growth, cooperation, trade and investment in the Asia-Pacific region. APEC Member Economies which are also members of ASEAN include: Brunei, Indonesia, Malaysia, Philippines, Singapore, Thailand and Viet Nam.

How can I join APEC?

To be eligible to apply for an ABTC you must hold a valid passport from an APEC economy (or be a permanent resident of the Hong Kong Special Administrative Region (Hong Kong, China), engage in regular business travel throughout the APEC region and have no criminal conviction.

Who is the current head of APEC?

Rebecca Sta Maria is the executive director of the Asia-Pacific Economic Cooperation (APEC) Secretariat based in Singapore where she advises and provides support for APEC’s 21 diverse member economies.

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What are the three pillars of APEC?

The Action Agenda consists of three pillars; (1) liberalization, (2) facilitation and (3) economic and technical coopertion. The three pillars are expected to interact with each other in a way that will maximize the growth and prosperity in the region.

Is Canada in APEC?

Quick facts. Canada is a founding member of APEC. Established in 1989, APEC is a multilateral forum dedicated to promoting free trade and investment, economic growth and development, and cooperation in the Asia-Pacific region.

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