The Standards Engineeer - Glossary

GLOSSARY A-B-C-D-E-F-G-H-I-J-K-L-M-N-O-P-Q-R-S-T-U-V-W-X-Y-Z

APEC - Asia-Pacific Economic Cooperation

Identification
Name

Asia-Pacific Economic Cooperation

Acronym

APEC

Logo

Homepage

http://www.apec.org/

General
Foundation

1989

Organisation

APEC has 21 members (as of june 2011) - referred to as "member economies" - which account for approximately 40 percent of the world's population, approximately 54 percent of world GDP and about 44 percent of world trade.

  1. Australia
  2. Brunei Darussalam
  3. Canada
  4. Chile
  5. People's Republic of China
  6. Hong Kong
  7. Indonesia
  8. Japan
  9. Republic of Korea
  10. Malaysia
  11. Mexico
  12. New Zealand
  13. Papua New Guinea
  14. Peru
  15. The Republic of the Philippines
  16. The Russian Federation
  17. Singapore
  18. Chinese Taipei
  19. Thailand
  20. United States of America
  21. Viet Nam.
Purpose

To enhance economic growth and prosperity for the region and to strengthen the Asia-Pacific community.

Since its inception, APEC has worked to reduce tariffs and other trade barriers across the Asia-Pacific region, creating efficient domestic economies and dramatically increasing exports.

Description

Asia-Pacific Economic Cooperation, or APEC, is the premier forum for facilitating economic growth, cooperation, trade and investment in the Asia-Pacific region.

APEC is the only inter governmental grouping in the world operating on the basis of non-binding commitments, open dialogue and equal respect for the views of all participants. Unlike the WTO or other multilateral trade bodies, APEC has no treaty obligations required of its participants. Decisions made within APEC are reached by consensus and commitments are undertaken on a voluntary basis.

See also:

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