Asia Pacific Economic Cooperation(APEC) Forum

The Asia Pacific Economic Cooperation Forum (APEC) is the main forum to facilitate economic growth, technical and economic cooperation, facilitation and liberalization of trade and investment in the Asia-Pacific region. Made up of 21 economies:

Australia, Brunei Darussalam, Canada, Chile, China, Hong Kong, Indonesia, Japan, Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, Philippines, Russia, Singapore; Taipei-China, Thailand, the United States and Vietnam.

The Forum was established in Canberra, Australia, in November 1989, at the initiative of then Australian Prime Minister Robert Hawke, in response to the growing economic interdependence of the Asia Pacific economies.

Mission

APEC es el principal foro económico de Asia y el Pacífico. El principal objetivo es apoyar el crecimiento económico y la prosperidad en la región de Asia y el Pacífico.

We are united in our quest to build a dynamic and harmonious community in Asia and the Pacific by promoting free trade and investment, accelerating regional economic integration, fostering economic and technical cooperation, enhancing human security, and facilitating a supportive and sustainable business environment. . Our initiatives turn political goals into results and concrete agreements into tangible benefits.

Vision

APEC’s vision is known as the Bogor Goals and is to achieve trade and investment liberalisation and facilitation by 2010 for developed economies and by 2020 for developing economies. Likewise, APEC works to create a safe environment for the efficient movement of goods, services and people in the region.

The three pillars of APEC, consistent with the Bogor Goals, are:

1) Trade and investment liberalization,

2) Trade and investment facilitation, and

3) Technical and economic cooperation.

Globally, the importance of APEC is significant. Its members represent approximately 60% of world GDP and 50% of world trade. APEC is the most economically dynamic region in the world. In addition, they concentrate around 50% of the world’s population.

Who Else Participates In APEC?

In addition to the 21 economies that make up APEC (Australia, Brunei Darussalam, Canada, Chile, China, Hong Kong, Indonesia, Japan, Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, Chinese Taipei (Taiwan), Thailand, United States, Vietnam. Peru, Russia and Vietnam were the last to join in November 1998).

Taken from: National Customs Directorate Chile

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