Asia Pacific Economic Cooperation

Article

May 29, 2022

The Asia-Pacific Economic Cooperation (APEC) is an international organization created to strengthen economic and political unity among Pacific Rim countries. From November 5 to November 7, 1989, 12 countries gathered in Canberra, Australia, and now 21 countries are participating. Since 1993, the leaders of each country have been holding talks every year.

History

In January 1989, Australian Prime Minister Bob Hawke called for more effective economic cooperation between countries in the Pacific Rim. In November of the same year, the first APEC meeting was held in Canberra, the capital of Australia, and Gareth Evans, who had previously served as the Australian Foreign Minister, was the first chairman. Foreign ministers from about 20 countries attended, and they decided to hold an annual meeting in Singapore and South Korea, and the meeting ended. The early members of the Association of Southeast Asian Nations (ASEAN) refused to join, instead the United States, Canada, Australia and New Zealand. Except for non-Asian countries, including , the member states of East Asian economic groups established were proposed to join. The plan was met with opposition from member states in the Americas, and was strongly criticized by Japan and the United States. The first APEC economic summit was held on Blake Island in 1993 after US President Bill Clinton held a meeting with Australian Prime Minister Paul Keating. It was held by inviting the heads of governments from each member country. President Clinton hoped this would help bring the stalled Uruguay Round trade talks back to normal. At the summit, some leaders asked for continued reduction of barriers to trade and investment, suggesting ways to envision communities in the Asia-Pacific region and lead to prosperity through cooperation. After that, the APEC Secretariat was established in Singapore to organize the activities of APEC organizations. At the 1994 Bogor Summit in Indonesia, the heads of countries promised to liberalize and open up trade and investment in the Asia-Pacific region through the Bogor Declaration, 2010. Developed countries have decided to implement it by 2020, and developing countries have decided to implement it by 2020. In 1995, the APEC Entrepreneurs Advisory Committee (ABAC) was established and composed of three businessmen from each member country to provide advice. In April 2001, APEC established five international organizations (Eurostat, IEA, OLADE, OPEC The Joint Oil Data Exercise was launched jointly with the UNSD, and in 2005 became the Joint Organization Data Initiative (JODI).

Member States

In November 1989, 12 countries participated in APEC as founding members, and now 21 countries are participating. APEC member countries participate in the scope of “economic entities” rather than “countries”. In the APEC meeting hall, flags of member countries are not raised or the names of countries are displayed. Also, the summit between APEC leaders uses the name of the APEC Economic Leaders' Meeting, not the Summit. Australia (November 1989) Brunei (November 1989) Canada (November 1989) Indonesia (November 1989) Japan (November 1989) South Korea (November 1989) Malaysia (November 1989) New Zealand (November 1989) Philippines (November 1989) Singapore (November 1989) Thailand (November 1989) USA (November 1989) China (November 1991) Hong Kong (November 1991) Taiwan (November 1991) Mexico (November 1993) Papua New Guinea (November 1993) Chile (November 1994) Peru (November 1998) Russia (November 1998) Vietnam (November 1998)

Countries where you can join later

India is