What is the purpose of APEC Summit?

What is the purpose of APEC Summit?

APEC is an intergovernmental forum dedicated to promoting free trade and investment, economic growth and development, and cooperation in the Asia-Pacific region.

What is APEC history?

Asia Pacific Economic Cooperation, or APEC, was formed in 1989 in Australia as an informal forum in which member nations could discuss free trade and economic cooperation along the Pacific Rim. From the perspective of the United States, it has been a crucial institution for economic engagement within the region.

What has APEC achieved?

APEC has scored two tangible achievements to date: a sweeping but vaguely worded 1994 pledge by its member states to open up to free trade and investment by 2010 and 2020, and a central role in the negotiation of the 1996 Information Technology Agreement (ITA).

What was the theme of APEC 2020?

Theme. The official theme of the APEC Malaysia 2020 is “Optimising Human Potential Towards a Resilient Future of Shared Prosperity: Pivot. Prioritise. Progress”.

What does the OECD do?

The Organisation for Economic Co-operation and Development (OECD) is an international organisation that works to build better policies for better lives. Our goal is to shape policies that foster prosperity, equality, opportunity and well-being for all.

What’s OECD countries?

The Organisation for Economic Co-operation and Development (OECD) is a group of 37 member countries that discuss and develop economic and social policy. Members of the Organisation for Economic Co-operation and Development (OECD) are typically democratic countries that support free-market economies.

Who attended the APEC summit?

Ministers from the 18 APEC member economies—Australia, Brunei Darussalam, Canada, Chile, China, Chinese Taipei, Hong Kong, Indonesia, Japan, Malaysia, Mexico, New Zealand, Papua New Guinea, the Philippines, Singapore, South Korea, Thailand and the United States—were in attendance, as were members of the APEC …

How often does APEC conduct summit meetings?

Senior Officials’ Meetings are held three to four times a year and is chaired by the host economy. The host economy is expected to issue an official invitation to all the APEC members, the APEC Secretariat, ABAC and APEC Observers (ASEAN, PECC and PIF Secretariats) at least eight weeks before the meeting.

Who initiated APEC?

The idea of APEC was firstly publicly broached by former Prime Minister of Australia Bob Hawke during a speech in Seoul, Korea, on 31 January 1989. Ten months later, 12 Asia-Pacific economies met in Canberra, Australia, to establish APEC.

Who hosted APEC summit 2020?

The 2020 Asia-Pacific Economic Cooperation (APEC) Economic Leaders’ Meeting was held under the Chairmanship of Malaysian Prime Minister Tan Sri Muhyiddin Yassin. This was the first time that all 21 APEC Economic Leaders met virtually due to the ongoing COVID-19 pandemic.

What are the two declarations adopted by the APEC?

For the first time, APEC member economies issue a Declaration on Climate Change, Energy Security and Clean Development outlining future action in support of a new international climate change arrangement and announcing a forward program of practical, cooperative actions and initiatives.

Where did APEC Russia 2012 take place?

The APEC Russia 2012 (Russian: Саммит АТЭС Владивосток-2012) was the 24th annual gathering of APEC leaders. Leaders from the member economies met on Russky Island, off the coast of Vladivostok, Russia on September 9–10, 2012.

What is the APEC Economic Leaders’Meeting?

Annual APEC economic leaders’ meetings. Beginning in 1993, the annual meetings are named APEC Economic Leaders’ Meetings and are attended by the heads of government from all member economies except Taiwan, which is represented by a ministerial-level official. The annual Leaders’ Meetings are not called summits.

Where will the 2012 APEC Vietnam summit be held?

At APEC Vietnam 2006 in Hanoi, Russia put forward a proposal to host the 2012 summit. Originally, Patrokl Bay (southern part of Vladivostok) was suggested as the site to hold the summit. The original plan was to build a palace to host the actual summit, and a number of five-star hotels for visitors.

What is the APEC Ministerial Meeting on food security?

APEC holds its first APEC Ministerial Meeting on Food Security. APEC resolves to pursue balanced, inclusive and sustainable growth, while Leaders agree to extend their standstill commitment on protectionism until 2010. The first-ever joint meetings of APEC senior trade and finance officials are held to address the economic crisis.

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