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Asia Pacific Economic Cooperation (view source)
Revision as of 05:53, 20 September 2011
, 13 years ago→History
==History==
==History==
APEC was established in 1989 by 12 Asia Pacific economies during a meeting in Canberra, Australia. The 12 founding members of APEC include: Australia, Brunei Darussalam, Canada, Indonesia, Japan, Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand and the United States. In 1991, China, Hongkong and Taipei joined the organization followed by Mexico and Papua New Guinea in 1993, Chile in 1994 while Peru, Russia and Vietnam finally joined APEC in 1998. APEC meetings started as informal senior official and Ministerial level dialogue. Former U.S. President [[Bill Clinton]] established the annual APEC Economic Leaders Meeting in 1993. The membership of the organization is under moratorium until 2010.<ref>[http://www.apec.org/About-Us/About-APEC/History.aspx History]</ref>
APEC was established in 1989 by 12 Asia Pacific economies during a meeting in Canberra, Australia. The 12 founding members of APEC include: Australia, Brunei Darussalam, Canada, Indonesia, Japan, Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand and the United States. In 1991, China, Hongkong and Taipei joined the organization followed by Mexico and Papua New Guinea in 1993, Chile in 1994 while Peru, Russia and Vietnam finally joined APEC in 1998. APEC meetings started as informal senior official and Ministerial level dialogue. Former U.S. President [[Bill Clinton]] established the annual APEC Economic Leaders Meeting in 1993. In 1997, a ten years moratorium was implemented on APEC membership. In 2007, the moratorium was extended until 2010.<ref>[http://www.apec.org/About-Us/About-APEC/History.aspx History]</ref>
==Main Goal==
The primary objective of APEC was identified during the Bogor Meeting in Indonesia in 1994 known as the Bogor Goals which include: free and open trade investment in the Asia Pacific Region by 2010 for industrialized countries while the developing countries target year will be on 2020. In 1995, the APEC member economies created the three pillars or the key areas of their cooperation which include:<ref>
[http://www.apec.org/FAQ.aspx Frequently Asked Questions-Main Goal]</ref>
* Trade and Investment Liberalisation
* Business Facilitation
* Economic and Technical Cooperation
==References==
==References==