By LI Jingyueyi
Since the Asia-Pacific Economic Cooperation is one of the most influential economic organizations throughout the world, so I decided on this international institution. My report as well as my presentation will be displayed in 5 parts: -History of APEC
-Objective of APEC
-APEC’s 3 Pillars
In January 1989, Australian Prime Minister Bob Hawke called for more effective economic cooperation across the Pacific Rim region. This led to the first meeting of APEC in the Australian capital of Canberra. Attended by political ministers from twelve countries, the meeting concluded with commitments for future annual meetings in Singapore and South Korea. Then comes the first APEC Economic Leaders' Meeting occurred in 1993 when U.S. President Bill Clinton, after discussions with Australian Prime Minister invited the heads of government from member economies to a summit on Blake Island. At the meeting, some leaders called for continued reduction of barriers to trade and investment, envisioning a community in the Asia-Pacific region that might promote prosperity through cooperation. APEC currently has 21 members, including most countries with a coastline on the Pacific Ocean. However, the criterion for membership is that the member is a separate economy, rather than a state. As a result, APEC uses the term member economies rather than member countries to refer to its members. One result of this criterion is that membership of the forum includes Hong Kong, which entered APEC as a British colony but it is now a Special Administrative Region of the China.
During the meeting in 1994 in Bogor, Indonesia, APEC leaders adopted the Bogor Goals that aim for free and open trade and investment in the Asia-Pacific by 2010 for industrialized economies and by 2020 for developing economies.
3.APEC’S WORK IN 3 AREAS:
To meet the Bogor Goals, APEC carries out work in three main...