APEC

This essay has a total of 1273 words and 6 pages.

APEC

Asia-Pacific Economic Cooperation (APEC) began in 1989 in reaction to the developing
interdependence among Asia-Pacific economies. At first this organization was a group that
met unofficially. APEC now has become the crucial provincial conduit for encouraging open
trade and realistic economic cooperation. It's objective is to progress Asia-Pacific
economic vitality and the essence of the people.

APEC consists of 21 nations and other political units that border the Pacific Ocean.
Economic and political alliances have been formed among the countries of the Pacific Rim.
APEC's aims include reducing trade barriers among its members and to further trade and
investment in the region. Its principles are to support economic growth and development of
the region and world economic liberalization, to reduce barriers of the trade of goods,
services and investment, and to facilitate economic, technical and investment cooperation
among its member economies. (http://www.apec2002.org.mx/sevents)

There are now twenty-one active members in APEC. Twelve nations have been members since
the group was formed in 1989: Australia, Brunei, Canada, Indonesia, Japan, Malaysia, New
Zealand, the Philippines, Singapore, South Korea, Thailand, and the United States. In
1991, China, Hong Kong, and Taiwan became members. Mexico and Papua New Guinea joined in
1993, and Chile in 1994. Hong Kong became a special administrative region of China in 1997
but kept its separate membership in APEC. Peru, Russia, and Vietnam became members in
1998. (http://www.apecsec.org.sg/)


http://www.apec2002.org.mx/index.cfm?action=content&IdCategory=1&IdSubCategory=7&IdTopic=2
The first two years of APEC, the members set up ten groups that would investigate
opportunities for cooperation. The members of APEC meet annually since the beginning of
the formation of APEC. In 1993 the heads of APEC met to constitute working groups to
inquire about local cooperation in the areas of higher education, human resource
development, and trade and investment. They also set up the Pacific Business Forum. The
Pacific Business Forum was created to elevate immediate cooperation with privately owned
businesses. Through many forums and meeting APEC agreed to implant a free-trade zone in
the midst of their countries by the year 2020.

APEC has divided its members into different groups. There are working groups and
committees. The working groups consist of Agricultural Technical Cooperation, Energy,
Fisheries, Human Resources Development, Industrial Science and Technology, Marine Resource
Conservation, Small and Medium Enterprises, Telecommunications and Information, Tourism,
Trade Promotion, and Transportation.
(http://www.apecsec.org.sg/loadall.htm?http://www.apecsec.org.sg/workgroup/fish.html)

The APEC Telecommunications and Information Working Group (TEL) provides an important
mechanism among APEC member economies for exchanging information, consulting on policy and
regulatory developments, and developing cooperative projects in the telecommunications
sector. (http://www.noie.gov) Telecommunications and Information Working Group work for
furthering economies with the use of electronic commerce along with other like actions to
smooth the progress of business performance. TEL also works for the advancement of the
human resources of APEC and to progress with the main focus on telecommunications and
information. Some of the achievements of the APEC Telecommunications and Information
Working Group are the improvement of the reductions of the barriers in telecommunications
for the advancement of free trade. A key activity is the execution of a Mutual Recognition
Arrangement (MRA). The MRA aims to free up telecommunications trade within APEC. Under
this MRA, another member of APEC can accept a test report or certificate generated by a
laboratory accredited by a member body of APEC as technically equivalent.
(http://www.mac.doc.gov/internet/aplacfaq.htm)

In 1993 APEC established The Committee on Trade and Investment (CTI). The Committee on
Trade and Investment synchronizes APEC's vocation on the liberalization and facilitation
of trade and investment. It works to lessen obstructions to business activity in fifteen
specific areas. These areas are tariffs and non-tariff measures; services; investment;
standards and conformance; customs procedures; intellectual property rights; competition
policy; government procurement; deregulation; rules of origin; dispute mediation; mobility
of business people; and implementation of WTO obligations. (http://www.apecsec.org.sg/)
These are outlined in the Osaka Action Agenda. The Committee of Trade and Investment also
makes available a forum for debate of trade policy issues.

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