SOCIAL STUDIES APEC

Open Regionalism

"Open regionalism" represents an effort to resolve one of the central problems of contemporary trade policy: how to achieve compatibility between the explosion of regional trading arrangements 1 around the world and the global trading system as embodied in the World Trade Organization.

APEC

-Asia-Pacific Economic Cooperation -established in 1989 Canberra Australia -premier forum for facilitating economic growth, trade, cooperation and investment in the asia pacific region -every year one country plays host to the meeting

APEC'S Achievments

-In the Political and social areas, economies can equally exchange their point of view on the regional as well as world affairs, including security -APEC created "open regionalism" instead of closed trading block -APEC firmly support the multi lateral trading system

APEC'S activities

-Managing globalization -Making APEC matter more -Creating new opportunities

APEC'S purposes and goals

-To strengthen the Asia Pacific community by enhancing economic growth and prosperity -establish anti perfectionist polices and reduce tariffs rate -creates jobs and greater opportunities for international trade and investment

APEC'S Objectives

-To sustain the growth and development of the world economy -To increase economic interdependence by encouraging the flow of goods, services and technology -To develop multi-lateral trading system -to reduce the barriers of trade in goods and services

APEC Achieved great improvements in the following four major fields

-tariff reduction -non tariff measures release -services -investment

APEC'S Mission

-to support sustainable economic growth and development in Asia Pacific region -to build a dynamic and harmonious Asia Pacific community

Interdependence

A relationship between countries in which they rely on one another for resources, goods, or services

globalization

Actions or processes that involve the entire world and result in making something worldwide in scope.

APEC Slogan

Advancing Free Trade for Asia Pacific Prosperity

tarrifs

Taxes on imported goods

APEC'S action agenda for new economy

e-Commerce Readiness Assessment (a partnership of the business community and APEC) paperless trading building capacity in both people and instruction

multilateral

having many sides; participated in by more than two participants

APEC'S Common goal

improve free trade

APEC Headquarters

singapore