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Asia-Pacific Economic Cooperation (APEC) is a forum for 21 Pacific Rimmember

economies[1] that promotes free trade throughout the Asia-Pacificregion. It was estabished in 1!"! in

response to the growing interdependence of Asia-Pacific economies and the ad#ent of regiona trade

bocs in other parts of the word$ to fears that high% industriaised &apan (a member of  '") woud

come to dominate economic acti#it% in the Asia-Pacific region$ and to estabish new marets for

agricutura products and raw materias be%ond urope. [2]

 An annua AP* conomic +eaders, eeting is attended b% the heads of go#ernment of a AP*

members ecept /aiwan (which is represented b% aministeria-e#e officia under the name *hinese

/aipei as economic leader [0]). /he ocation of the meeting rotates annua% among the member

economies and a famous tradition foowed for most (but not a) summits in#o#es the attending

eaders dressing in a nationa costume of the host countr%.

Contents

  [hide] 

• 1istor%

• 2ember economies

• 0Possibe enargement

• 34usiness 5aciitation

o 3.1Proposed Free Trade Area of the Asia-Pacific 

• 6AP* 7tud% *entre *onsortium

• 8AP* 4usiness Ad#isor% *ounci

• 9Annua AP* conomic +eaders, eetings

o 9.1eeting de#eopments

o 9.2AP* +eaders, 5ami% Photo

o 9.0eeting ocations

• "*riticism

• !*urrent eaders of AP* conomies

• 1:7ee aso

• 11References

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• 125urther reading

• 10terna ins

History [edit]

/his section does not cite any references (sources). Pease hep impro#e this

section b%adding citations to reiabe sources. ;nsourced materia ma% be

chaenged and remo#ed. (April 2014)

 A4* news report of the first AP* meeting in *anberra <o#ember 1!"!. 5eaturing deegates watching

theebourne *up.

In &anuar% 1!"! Austraian Prime inister  4ob awe caed for more effecti#e economic

cooperation across the Pacific Rim region. /his ed to the first meeting of AP* in

the  Austraian capita of *anberra in <o#ember chaired b% Austraian 5oreign Affairs inister  'areth

#ans. Attended b% ministers from twe#e countries the meeting concuded with commitments for

future annua meetings in 7ingaporeand =orea.

*ountries of the Association of 7outheast Asian <ations (A7A<) opposed the initia proposa

instead proposing the ast Asia conomic *aucus which woud ecude non-Asian countries such

as the ;nited 7tates *anada  Austraia and <ew >eaand. /his pan was opposed because of the

member countries in the America Region. and strong% critici?ed b% &apan and the ;nited 7tates.

/he first AP* conomic +eaders, eeting occurred in 1!!0 when ;.7. President 4i *inton after

discussions with Austraian Prime inister Pau =eating in#ited the heads of go#ernment from

member economies to a summit on 4ae Isand. e beie#ed it woud hep bring the staed ;rugua%

Round of trade tas bac on trac. At the meeting some eaders caed for continued reduction of

barriers to trade and in#estment en#isioning a communit% in the Asia-Pacific region that might

promote prosperit% through cooperation. /he AP* 7ecretariat based in 7ingapore was

estabished to coordinate the acti#ities of the organi?ation.

@uring the meeting in 1!!3 in 4ogor  Indonesia AP* eaders adopted the 4ogor 'oas that aim for 

free and open trade and in#estment in the Asia-Pacific b% 2:1: for industriai?ed economies and b%

2:2: for de#eoping economies. In 1!!6 AP* estabished a business ad#isor% bod% named the

 AP* 4usiness Ad#isor% *ounci (A4A*) composed of three business eecuti#es from each

member econom%.

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In Apri 2::1 the AP* in coaboration with fi#e other internationa organisations (urostat IA

+A@ P* and the ;<7@) aunched the &oint i @ata ercise which became rapid% the &oint

rgani?ation @ata Initiati#e (&@I).

Member economies[edit]

5ormer 7outh =orean PresidentRoh oo-h%un with &apanese Prime inister 7hin?o Abe and ;.7.

President'eorge B. 4ush at AP* 2::8 inanoi Cietnam.

 AP* current% has 21 members incuding most countries with a coastine on thePacific cean.

owe#er the criterion for membership is that the member is a separate economy  rather than a

state. As a resut AP* uses the term member economies rather than member countries to refer to

its members. ne resut of this criterion is that membership of the forum incudes /aiwan (officia%

the Repubic of *hina participating under the name D*hinese /aipeiD) aongside Peope,s Repubic

of *hina (see *ross-7trait reations) as we as ong =ong which entered AP* as a 4ritish coon%

but it is now a 7pecia Administrati#e Region of the Peope,s Repubic of *hina. AP* aso incudes

three officia obser#ersE A7A< the Pacific Isands 5orumand the Pacific conomic *ooperation

*ounci.[1]

Member economy

(name as used in

APEC)

Date of 

accession

GDP(PPP)

(Millions of Int$)

2!"

  Austraia <o#ember 1:!!991

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Member economy

(name as used in

APEC)

Date of 

accession

GDP(PPP)

(Millions of Int$)

2!"

1!"!

 4runei

@arussaam

<o#ember

1!"!02!6"

 *anada<o#ember

1!"!

16!6!96

 Indonesia<o#ember

1!"!28"6"!0

 &apan<o#ember

1!"!3989169

 7outh =orea<o#ember

1!"!19"0!6:

 aa%sia<o#ember

1!"!98!33"

 <ew >eaand<o#ember

1!"! 18:":1

 Phiippines<o#ember

1!"!8!032:

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Member economy

(name as used in

APEC)

Date of 

accession

GDP(PPP)

(Millions of Int$)

2!"

 7ingapore<o#ember

1!"!363038

 /haiand<o#ember

1!"!1:8!68!

 ;nited 7tates <o#ember1!"!

1903":96

 *hinese /aipei [3]<o#ember

1!!11:9"9!2

 ong =ong

*hina[6]

<o#ember

1!!13::082

 Peope,s

Repubic of *hina

<o#ember

1!!11":"":63

 eico<o#ember

1!!0213"""3

 Papua <ew

'uinea

<o#ember

1!!01"6!6

 *hie <o#ember 31:"60

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Member economy

(name as used in

APEC)

Date of 

accession

GDP(PPP)

(Millions of Int$)

2!"

1!!3

 Peru<o#ember

1!!"0928!3

 Russian

5ederation

<o#ember

1!!"

0698"31

 Cietnam<o#ember

1!!"6126"2

Possible enlargement[edit]

  current members

  announced interest in membership

India has reFuested membership in AP* and recei#ed initia support from the ;nited 7tates

&apan[8] and Austraia. fficias ha#e decided not to aow India to Goin for #arious reasons. [9]["]India

does not border the Pacific cean which a current members do. [!] owe#er India was in#ited to be

an obser#er for the first time in <o#ember 2:11.[1:]

4angadesh[11] Paistan[11] 7ri +ana[11] acau[11]  ongoia[11] +aos[11] *ambodia[12] *osta Rica

[10]  *oombia[10][13] Panama[10] and cuador [16] are among a do?en other economies in#ited for

membership in AP*. *oombia appied for AP*,s membership as ear% as in 1!!6 but its bid was

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hated as the organisation stopped accepting new members from 1!!0 to 1!!8 [18] and the

moratorium was further proonged to 2::9 due to the 1!!9 Asian 5inancia *risis. 'uam has aso

been acti#e% seeing a separate membership citing the eampe of ong =ong but the reFuest is

opposed b% the ;nited 7tates which current% represents 'uam.

Business Facilitation[edit]

 AP* has ong been at the forefront of reform efforts in the area of business faciitation. 4etween

2::2 and 2::8 the costs of business transactions across the region was reduced b% 8H thans to

the AP* /rade 5aciitation Action Pan (/5API). 4etween 2::9 and 2:1: AP* hopes to achie#e

an additiona 6H reduction in business transaction costs. /o this end a new /rade 5aciitation Action

Pan has been endorsed. According to a 2::" research brief pubished b% the Bord 4an as part of

its /rade *osts and 5aciitation ProGect increasing transparenc% in the region,s trading s%stem is

critica if AP* is to meet its 4ogor 'oa targets. [19] /he AP* 4usiness /ra#e *ard a tra#e

document for #isa-free business tra#e within the region is one of the concrete measures to faciitate

business. In a% 2:1: Russia Goined the scheme thus competing the circe. [1"]

Proposed Free Trade Area of the Asia-Pacific [edit]

 AP* first forma% started discussing the concept of a 5ree /rade Area of the Asia-Pacific (5/AAP)

at its summit in 2::8 in anoi. owe#er the proposa for such an area has been around since at

east 1!88 and &apanese economist =i%oshi =oGima ( Ga),s proposa for a Pacific 5ree /rade

agreement proposa. Bhie it gained itte traction the idea ed to the formation of Pacific /rade and

@e#eopment *onference and then the Pacific conomic *ooperation *ounci in 1!": and then

 AP* in 1!"!.

In the wae of the 2::8 summit economist *. 5red 4ergsten ad#ocated a 5ree /rade Agreement of

 Asia-Pacific incuding the ;nited 7tates amongst the proposed parties to an% agreement at that

time.[1!] is ideas con#inced the AP* 4usiness Ad#isor% *ounci to support this concept.

Reated% A7A< and eisting free trade agreement (5/A) partners are negotiating as Regiona

*omprehensi#e conomic Partnership (R*P) not officia% incuding Russia. [2:] /he /rans-Pacific

Partnership(/PP) without *hina or Russia in#o#ed has become the ;7-promoted trade negotiation

in the region. Bith the AP* summit in 4eiGing in 2:13 the two-three pans are a in discussion.

[21] President bama hosted a /PP meeting at the ;7 mbass% in 4eiGing in ad#ance of the AP*

gathering.[22]

/he proposa for a 5/AAP arose due to the ac of progress in the @oha round of Bord /rade

rgani?ation negotiations and as a wa% to o#ercome the Dnoode bowD effect created b%

o#erapping and conficting eements of the copious free trade agreements there were

approimate% 8: free trade agreements in 2::9 with an additiona 119 in the process of negotiation

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in 7outheast Asia and the Asia-Pacific region.[20] In 2:12 A7A<J8 countries aone had 00! free

trade agreements - man% of which were biatera.[23]

/he 5/AAP is more ambitious in scope than the @oha round which imits itsef to reducing trade

restrictions. /he 5/AAP woud create a free trade ?one that woud considerab% epand commerce

and economic growth in the region.[20][26] /he economic epansion and growth in trade coud eceed

the epectations of other regiona free trade areas such as the A7A< Pus

/hree ( A7A< J *hina 7outh =orea and &apan).[28] 7ome criticisms incude that the di#ersion of

trade within AP* members woud create trade imbaances maret conficts and compications with

nations of other regions.[26] /he de#eopment of the 5/AAP is epected to tae man% %ears in#o#ing

essentia studies e#auations and negotiations between member economies. [20] It is aso affected b%

the absence of poitica wi and popuar agitations and obb%ing against free trade in domestic

poitics.[20][29]

 At the 2:13 AP* summit in 4eiGing AP* eaders agreed to aunch Da coecti#e strategic stud%D on

the 5/AAP and instruct officias to undertae the stud% consut staehoders and report the resut b%

the end of 2:18.[2"] AP* ecuti#e @irector Aan 4oard re#eaed in the ite /a show that 5/AAP

wi be AP*,s big goa out into the future. [2!]

 APEC Study Centre Consortium[edit]

In 1!!0 AP* +eaders decided to estabish a networ of AP* 7tud% *entres among uni#ersities

and research institutions in member economies. [0:]

<otabe centers incudeE

•  Austraian AP* 7tud% *entre Ro%a ebourne Institute of /echnoog%  Austraia[01]

• 4eree% AP* 7tud% *enter  ;ni#ersit% of *aifornia 4eree% ;nited 7tates[02]

• *hinese /aipei AP* 7tud% *entre /aiwan Institute of conomic Research /aiwan[00]

• =; AP* 7tud% *entre ;ni#ersit% of ong =ong ong =ong[03]

• =obe AP* 7tud% *entre =obe ;ni#ersit% &apan[06]

• <anai AP* 7tud% *entre <anai ;ni#ersit% *hina[08]

• Phiippine AP* 7tud% *enter <etwor Phiippine Institute for @e#eopment

7tudies Phiippines

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• /he *anadian AP* 7tud% *entre /he Asia Pacific 5oundation of *anada Cancou#er 

*anada[09]

• Indonesian AP* 7tud% *entre AP* 7tud% *entre ;ni#ersit% of Indonesia Indonesia.[0"]

 APEC Business Advisory Council[edit]

/his section does not cite any references (sources). Pease hep impro#e this

section b% adding citations to reiabe sources. ;nsourced materia ma% be chaeng

and remo#ed. (March 201)

/he AP* 4usiness Ad#isor% *ounci (A4A*) was created b% the AP* conomic +eaders in

<o#ember 1!!6 with the aim of pro#iding ad#ice to the AP* conomic +eaders on wa%s to achie#e

the 4ogor 'oas and other specific business sector priorities and to pro#ide the business

perspecti#e on specific areas of cooperation. [citation needed ]

ach econom% nominates up to three members from the pri#ate sector to A4A*. /hese business

eaders represent a wide range of industr% sectors. A4A* pro#ides an annua report to AP*

conomic +eaders containing recommendations to impro#e the business and in#estment

en#ironment in the Asia-Pacific region and outining business #iews about priorit% regiona issues.

 A4A* is aso the on% non-go#ernmenta organisation that is on the officia agenda of the AP*

conomic +eader,s eeting.[citation needed ]

 Annual APEC Economic Leaders' Meetings[edit]

7ince its formation in 1!"! AP* has hed annua meetings with representati#es from a member

economies. /he first four annua meetings were attended b% ministeria-e#e officias. 4eginning in

1!!0 the annua meetings are named AP* conomic +eaders, eetings and are attended b%

the heads of go#ernment from a member economies ecept /aiwan which is represented b% a

ministeria-e#e officia. /he annua +eaders, eetings are not caed summits.

Meetin# deelopments[edit]

In 1!!9 the AP* meeting was hed in Cancou#er . *ontro#ers% aros