APEC is an intergovernmental forum for 21 Asia-Pacific countries established in 1989 to promote economic growth and cooperation. Its goals are to achieve free and open trade and investment between member economies by 2010 for developed countries and 2020 for developing countries. APEC focuses on trade and investment liberalization, business facilitation, and economic and technical cooperation. Major events include annual leaders' meetings and CEO summits to evaluate progress on goals and address issues facing the Asia-Pacific region.

1. Asia Pacific Economic Cooperation
(APEC):
Activities and Future Goals
Odesola, Victoria O.

2. Outline of Report
 I. APEC Back-study
 A. History
 B. Member Economies
 C. Key Milestones
 D. Mission/Vision Statement
 II. APEC Future Plans
 A. Enlargement
 B. Bogor Goals
1. Trade and Investment liberalizations
2. Business Facilitation
3. Economic and Technical Cooperation
4. The 14 Bogor Scope Areas
 D. APEC CEO Summit 2014
 E. Economic Leaders’ Meeting 2014
 III. Problems and Criticisms Faced

4. APEC Forum
 APEC is the premier forum for facilitating economic
growth, cooperation, trade and investment in the Asia-
Pacific region.
 It is an inter-governmental forum, which operates on the
basis of non binding commitment and open dialog.
 No treaty obligations
 APEC has 21 member economies with a population of over
2.6 billion which accounts for more than 40% of the
world’s population.
 APEC countries have a combined GDP of 21 trillion US
dollars which is more than half of world GDP.
 APEC accounts for nearly half of world trade.

5. History
 APEC began as an informal Ministerial-level dialogue group in
Canberra, Australia in 1989. It is a 21 member economic
forum at present.
 Founding members are:
Australia, New Zealand
6 ASEAN economies
Japan and South Korea
Canada and the United States

6. Member Economies
* Australia * Malaysia
* Brunei Darussalam * Mexico
* Canada * New Zealand
* Chile * Papua New Guinea
* People's Republic of China * Peru
* The Republic of the Philippines * Hong Kong, China
* The Russian Federation * Japan
* United States of America * Indonesia
* Chinese Taipei * Singapore
* Republic of Korea * Viet Nam
*Thailand

7. Key Milestones
 1993- In the United States the Economic Leaders meet for the first time in
Blake Island, Washington and outline APEC’s vision, “stability, security, and
prosperity for our peoples”.
 1994- In Indonesia APEC sets the Bogor Goals of “free and open trade
investment in the Asia Pacific by 2010 for developed countries and 2020 for
developing countries.
 1995- In Japan the framework for meeting the Bogor goals through trade and
investment liberalization, business facilitation and sectorial activities,
underpinned by policy dialogues and finally, economic and technical
cooperation.
 1996- In the Philippines, the Manila Action Plan for APEC (MAPA) is adopted,
outlining the trade and investment liberalization and facilitation measures to
reach the Bogor goals.
 1999- In New Zealand, APEC commits to paperless trading by 2005 in
developed economies and 2010 in developing economies.

8. Key Milestones
 2001- In People’s Republic of China, APEC adopts the Shanghai Accord,
which focuses on broadening the APEC vision, clarifying the roadmap to
Bogor and strengthening the implementation mechanism.
 2005- In Korea, APEC adopts the Busan Roadmap, completes the mid-term
Stocktake, which gauges that APEC is well on its way to meeting the
Bogor Goals.
 2007- In Australia, for the first time APEC member economies issue a
Declaration on Climate Change, Energy Security, and Open Development.
 2013- In Indonesia, the Bali Package is concluded. The target is then set
for a yearly enrolment of one million students in the intra-APEC
university by 2020. The first joint APEC ministerial meeting on Women
and SMEs issues especially to protect women entrepreneurship.

9. Mission/Vision
 To support sustainable economic growth and prosperity in Asia-Pacific region
 To build a dynamic and harmonious Asia-Pacific community
 Decrease number of obstacles in trade and also reduce tariffs across APEC nations
 Set it’s eye on achieving ‘Bogor goals’ by the year 2010
 To encourage the flow of goods, services, capital, and technology
 To develop and strengthen the multilateral trading system;

10. APEC Relations
----ASEAN and APEC
 ASEAN has been at APEC's core from the very beginning and is doing its part to advance
APEC's purposes and is consistent with APEC goals.
 ASEAN Free Trade Area (AFTA) can be said to be a building block for the fulfillment of
the goals that APEC set for eventual free trade among its members.
 It can be said that the two organizations could be seen as complementing, and not
competing with each other.
----NAFTA and APEC
 Accomplishment of Bogor goals and free trade among APEC member economies leads
to significant trade diversion from western countries to APEC member economies.
 Western economies trying to maintain balance of power between east and west in
APEC decisions by restricting Asian countries into economic co-operation.

11. Future Plans for Enlargement
 India has requested membership in
APEC and received initial support from
the United States, Japan and
Australia. However officials did not
allow India to join for various reasons.
 Interested Economies
 Pakistan
 Bangladesh
 Sri Lanka
 Macau
 Mongolia
 Laos
 Cambodia
 Costa Rica
 Colombia
 Panama
 Ecuador

13. Bogor Goals
 Free and open trade and investment in the Asia-Pacific
 by 2010 for developed economies
 by 2020 for developing economies

14. Bogor Goals & 3 Pillars
 Three specific areas crucial to achieving the Bogor Goals:
 Trade and investment liberalization
 Business facilitation
 Economic and technical cooperation

15. Trade and Investment liberalization
Reducing and eliminating tariff among member
countries
Reducing and eliminating non-tariff barriers to trade
and investment
Opening of markets

16. Business facilitation
 Reducing the costs of business transactions
 Improving access to trade information
 Bringing into line policy and business strategies to
facilitate growth
 Free and open trade

17. Economic and Technical Cooperation
 ECOTECH is dedicated to providing training and cooperation
to build capacities in all APEC Member Economies to take
advantage of global trade.
 This area builds capacity at the institutional and personal
level to assist APEC Member Economies and its people gain
the necessary skills to meet their economic potential.

18. The 14 ‘Bogor Areas’
Tariffs
Non-Tariff Measures
 Services
 Investment
 Standards & Conformance
 Customs Procedures
 Intellectual Property Right
 Competition Policy
 Government Procurement
 Deregulation/ Regulatory
Reform
Transparency
 Dispute Mediation
 Mobility of Business People
RTA/FTAs (Regional and
Free Trade Agreements)

19. APEC CEO Summit 2014
 This most important event in APEC Leaders’ Week took place on
November 8-10, 2014 in Beijing, China with the theme:
“New Vision for Asia Pacific: Creativity, Connectivity,
Integration, Prosperity”
This included discussions on the global economic outlook, regional
integration, innovation, infrastructure and finance.

20. APEC CEO Summit 2014
 A total of 43 influential speakers from companies like,
 Microsoft, Blackberry, World Trade Organization, Johnson & Johnson, etc
 Global Economy Today
 Outlook for regional economic integration
 Economic Reforms for Sustaining Competitiveness
 Building the Innovative Economy
 Looking beyond Business as Usual
 Securing the Future of Global Finance
 Accelerating Regional Connectivity
 Global Inequality

21. APEC Economic Leaders’ Meeting
 Held annually since 1993
 1993, Blake Island, Seattle, US
 Suggested by the then US
President Bill Clinton

22. APEC Economic Leaders’ Meeting 2014
 The proposed achievement as laid down by this year’s host
economy’s president, China’s Xi Jinping:
 1. The launch of the Free Trade Area of the Asia-Pacific
 2. Issuance of a statement for the 25th anniversary of APEC
 3. The meeting will promote innovation, reforms and growth to
seek new momentum for long-term development of the Asia-Pacific
 4. A blueprint will be made to lay a solid foundation for all-round
connectivity in the Asia-Pacific.

23. APEC Economic Leaders’ Meeting 2014
 In this year’s meeting the leaders adopted two very
important documents:
 The 22nd APEC Economic Leaders’ Declaration: Beijing Agenda for an
Integrated, Innovative, and Interconnected Asia Pacific.
 Statement on the 25th Anniversary of APEC: Shaping the Future
through Asia-Pacific Partnership

24. Problems and Criticism Faced
 Border Barriers
 The still high cost of international commerce
 Little to no collaboration on other issues
 It’s being said that APEC is too large, too diverse
 Has no identity and its goal too abstract
 Processes are slow and cumbersome
 No attention to cultural aspect of cooperation

25. References
 www.apec.org
 en.Wikipedia.org/wiki/Asia-Pacific_Economic_Cooperation
 www.apec-china.org
 www.trademinister.gov.au
 www.economywatch.com