Asia Pacific Economic Cooperation

1. Harry Scannell MekarimElmekki Ivy Chen Asia Pacific Economic Cooperation

2. Company LOGO Brief History • APEC was formed in Canberra, Australia in 1989. Initially, it was an informal Ministerial-level dialogue group with twelve member countries. (Australia, Brunei Darussalam, Canada, Indonesia, Japan, Korea, Malaysia, New Zealand, the Philippines, Thailand and the United States.) • The first idea for APEC came up during a speech in Seoul, Korea in January of 1989 By: Ivy Chen

3. Main Objectives • To Sustain the growth and development of the region to contribute to the growth and development of the world economy. • To enhance the positive gains,resulting from increasing economic interdependence, including by encouraging the flow of goods, services, capital and technology. • To develop and strengthen the open multilateral trading system in the interest of Asia-Pacific and all other economies.

4. CANADA RUSSIA REPUBLIC OF KOREA USA JAPAN CHINESE TAIPEI REPUBLIC OF CHINA MEXICO THAILAND PHILLIPINES BRUNEI MALAYSIA HONG KONG CHILE INDONESIA VIETNAM AUSTRALIA SINGAPORE PERU PAPUA NEW GUINEA NEW ZEALAND

5. Advantages of By: MekarimElmekki

6. Company LOGO Benefits Of APEC • Discusses Economy- Not politics. No treaties are needed, resulting in less political conflict between APEC members. • Consensus driven – Members are free to openly discuss trade, which promotes bilateral efforts and collective cooperation, constantly promoting contributions resulting in steady economic growth • Allows Asian countries to collaborate with other economic powerhouses including Japan and the USA

7. Company LOGO 1995 OSAKA ACTION AGENDA • APEC authorized 3 central pillars to its cooperative work

8. 1.Trade Investment Liberalization • Provides unilateral freedom, each APEC member can loosen restrictions in a certain trade investment area. • APEC has developed Individual Action Plans (IAP) In which a country can liberalize the following :

9. tariffs • non-tariff measures • services • Investment • standards and conformance • customs procedures • intellectual property rights • competition policy • government procurement • rules of origin • dispute mediation • the mobility of business people • implementation of outcomes of the Uruguay Round of trade talks and • information gathering and analysis.

10. 2. Trade Facilitation • Simplification of International Trade Procedures (Imports and Exports) • APEC has made an abundant amount of progress in a variety of sectors: including standards, customs, electronic commerce, and business travel.

11. APEC’s Trade Facilitation • Reduced Tariffs from 16.9% in 1989 to 5.5% in 2004 • Resulted in further interregional trade, creating efficient domestic economies and GDP growth

12. 3. ECHOTECH • Economic and technical support • EcoTech are the main activities provided by APEC that contribute to the overall growth of sustainable development to improve economic and social being of APEC participants

13. ECHOTECH’s Primary Objectives. • · Creating safe and efficient capital markets; • · strengthening economic infrastructure; • Developing technologies for the future; • Promoting environmentally sustainable growth; and • · encouraging the growth of small and medium enterprises

14. DISADVANTAGES OF

15. Disadvantages of APEC • Open Regionalism: Members offer reductions in trade barriers to all countries, whether APEC members or not. • Non-members are not obligated to dismantle trade barriers for APEC’s benefit. • Equal benefit is not provided.

16. Disadvantages of APEC • Concerted Unilateralism : APEC’s primary mechanism for liberalizing trade. Proposals are not formally negotiated, each member provides an internally generated offer of trade and investment liberalizing measures, known as an Individual Action Plan(IAP), which is not subject to any serious bargaining.  avoiding debilitating disagreements or debates over concessions – not realistic.

17. Criticisms Of By: Harry Scannell

18. No Real “Purpose” • APEC has been criticized for not clearly defining itself or serving a purpose. It was made to "further enhance economic growth and prosperity for the region and to strengthen the Asia-Pacific community,” but it is an ongoing debate as to whether they have actually accomplished anything, Especially to European countries who are unable to join.

19. APEC’s Relevance • APEC’s goal of turning the Asia Pacific Rim, which accounts for 47 percent of global trade, into a free trade and investment zone - has been eroded by the increase of bilateral trade agreements between impatient member countries • trans-Pacific trade conflict between the United States and China, and political tension among its key Northeast Asian members: China, Japan and South Korea.

20. Losing Focus • Critics have said that APEC is losing focus on its original free-trade mission statement, first made in 1994 in Bogor, Indonesia. • APEC’s agenda has become increasingly dominated by other pressing global issues, such as terrorism and public health. • APEC also faces competition from other regional agreements, including the newly formed East Asia summit that will bring together East Asia, Southeast Asia, New Zealand, Australia and India.

21. APEC Benefits to Canada

22. Benefits to Canada • APEC, as a group, contains countries that are thought to be critical to Canada’s future economic prosperity and security interests. • It brings together ministers, leaders, officials and business representatives to apply policies and projects that benefit Canada , such as economic co-operation and counter terrorism.

23. Benefits to Canada • APEC enables Canada to engage in multi and bilateral negotiations in one of the worlds most prosperous economic zones, in which many trade partners are members. • In dollar terms, trade in goods and services between APEC economies has more than tripled since the groups making. • APEC help Canada meet its economic goals and needs. • Forms relationships with Nations in the Atlantic

24. Interesting Facts ! • Home to about 2.2 billion people • APEC countries represent about half the world's total output with a combined gross national product (GNP) of $22 trillion in 1996. • APEC members also represent more than 40 percent of the world's trade in goods.

25. Questions • Where was APEC formed? • Name ONE main objective of APEC. • What is Trade Liberalization? • Name one ADVANTAGE of APEC? • Name THREE APEC members.

26. Bibliography • "The Objectives of APEC." The Objectives of APEC. Accessed October 22, 2014. http://ckp.jp/apec/basic/object.html. • Accessed October 22, 2014. http://www.apec.org/FAQ.aspx. • Accessed October 22, 2014. http://www.ncapec.org/docs/what_is_apec.pdf. • Accessed October 22, 2014. https://www.boundless.com/marketing/textbooks/boundless-marketing-textbook/global-marketing-7/important-international-bodies-and-agreements-54/the-asia-pacific-economic-cooperation-apec-269-4076/. • Http://www.nytimes.com/2005/11/14/world/asia/14iht-apec.html?_r=0. Accessed October 22, 2014. • "APEC Working for Canadians." Government of Canada, Foreign Affairs Trade and Development Canada, Deputy Minister of Foreign Affairs, Communications, E-Communications Communications Products and Services. Accessed October 22, 2014. http://www.international.gc.ca/apec/work-travail.aspx?lang=eng.