apec

Who are the observers?

Asia-Pacific Economic Cooperation (APEC) are the Association of Southeast Asian Nations (ASEAN) Secretariat, the Pacific Economic Cooperation Council (PECC)

21 member-economies

Australia, Brunei Darussalam, Indonesia, Japan, South Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, Canada, United States, Chinese Taipei, People's Republic of China, Hong Kong, Mexico, Papua New Guinea, Chile, Peru, Russia, and Vietnam.

Osaka Action Agenda

a framework for meeting the Bogor Goals Comprehensiveness in addressing all impediments to long-term goal of free and open trade. WTO-consistency in its principles. Comparability in terms of trade and investment liberalization and facilitation, taking into consideration the general levels of each APEC member-economies. Non-discrimination in the reduction in barriers to trade available to all APEC and non-APEC economies. Transparency in the laws, regulations and administrative procedures of all APEC member economies. Standstill or not taking measures that may increase levels of protection. Simultaneous start, continuous process and differentiated timetables in the process of liberalization, facilitation and cooperation towards the achievement of Bogor Goals. Flexibility in dealing with liberalization and facilitation process. Economic and technical cooperation is actively pursued.

Three Pillars

a guiding instrument in attaining the overall goal of free trade and investments

INDIVIDUAL ACTION PLANS

a record of actions taken in meeting the goals for free and open trade and investment

12 members

comprising of Australia, Brunei Darussalam, Indonesia, Japan, South Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, Canada, and the United States

Bogor Goals

free trade and open trade and investments in the Asia-Pacific

TRADE AND INVESTMENT LIBERALIZATION

gradually reduce and eventually eliminate tariff and non-tariff barriers to trade and investment

Trade Facilitation Action Plan (TFAP)

keep trading procedures simple, predictable, and transparent in order to allow commerce to freely flow across borders

ECONOMIC AND TECHNICAL COOPERATION (ECOTECH)

provide training and cooperation through capacity-building projects and activities among its member economies.

BUSINESS FACILITATION

reduce business and trade transaction costs. The reduction in the production costs leads to an increase in trade, investments, and business opportunities for the primary reason that goods and services become cheaper.

initial basis for membership

sovereign political status, economic growth, and trading with Asia-Pacific economies