Backgrounder: APEC

11:21, November 09, 2010      

Email | Print | Subscribe | Comments | Forum 

The Asia-Pacific Economic Cooperation (APEC) Leaders' Week meetings opened Sunday in Japan's second largest city of Yokohama with the start of the two-day Concluding Senior Officials' Meeting.

This year's APEC series meetings also include the APEC Business Advisory Council meeting on Nov. 8-10, annual Ministerial Meeting on Nov. 10-11, a CEO Summit on Nov. 12-13 and the 17th Economic Leaders' Meeting on Nov. 13-14.

APEC is a forum which facilitates economic cooperation among 21 nations and regions in the Asia-Pacific area.

With an economic magnitude accounting for around 50 percent the world's GDP, and 40 percent of both the world's population and world trade, APEC is working on areas such as trade and investment liberalization, business facilitation, human security, and economic and technical cooperation, aiming to achieve sustainable growth and prosperity for the region.

In 1989, former Prime Minister of Australia Bob Hawke broached the idea of establishing a forum for sustainable economic growth and regional cooperation within the Asia-Pacific region. The proposal was supported by the United States, ASEAN, and other nations, and the wheels were soon set in motion. The first APEC Ministerial Meeting was held later in the year, in Canberra, Australia.

The APEC is the only inter-governmental organization in the world operating on the basis of non-binding commitments, open dialogue and equal respect for the views of all participants.

In 1994, at the Economic Leaders' Meeting in Bogor, Indonesia, the APEC Economic Leaders' Declaration of Common Resolve (Bogor Declaration) was adopted. The declaration included the Bogor Goals, which pledged APEC's intent to achieve free and open trade and investment by 2010 for industrialized economies, and 2020 for developing economies.

2010 is the target year for the APEC industrialized economies to achieve the Bogor Goals as well as a major milestone for APEC.

The APEC currently has 21 member economies: Australia, Brunei, Canada, Chile, China, China' Hong Kong, Chinese Taipei, Indonesia, Japan, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, South Korea, Thailand, the United States and Vietnam.

Amid the significant changes in global political and economic conditions, APEC Japan 2010 has adopted the theme "Change and Action," whereby APEC should build upon its past successes to propose necessary "changes" and execute concrete "actions" to ensure that it will continue to play an important role in the future.

Source: Xinhua

(Editor:赵晨雁)

  • Do you have anything to say?

双语词典
dictionary

  
Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • Chinese Navy soldiers hold an evening party marking the upcoming 62nd National Day aboard Chinese Navy hospital ship "Peace Ark" in the Pacific on Sept. 28, 2011. The Chinese National Day falls on Oct. 1. (Xinhua/Zha Chunming)
  • Photo taken on Sept. 30, 2011 shows the crowd at the plaza of Beijing Railway Station in Beijing, capital of China. The railway transportation witnessed a travel peak with the approach of the seven-day National Day holidays on Friday. (Xinhua)
  • A man wearing high-heel shoes takes part in the 3rd annual Walk a Mile in Her Shoes, an event when men literally walk in women's shoes to raise awareness about ending violence against women, at Yonge-Dundas Square in Toronto, Canada, Sept. 29, 2011. (Xinhua/Zou Zheng)
  • Photo taken on Sept. 29, 2011 shows a cargo ship in danger on the sea near Zhuhai City, south China's Guangdong Province. Cargo ship Fangzhou 6 of Qingzhou of southwest China's Guangxi Zhuang Autonomous Region lost control after water stormed into its cabin due to Typhoon Nesat on the sea near Zhuhai Thursday, leaving 12 crew members in danger. Rescuers rushed to the ship and saved them by using a helicopter. (Xinhua)
  • Actress Gong Li poses for L'Officiel Magazine. (Xinhua Photo)
  • Demonstrators from the Occupy Wall Street campaign hold placards as they march in the financial district of New York September 29, 2011. After hundreds of protesters were denied access to some areas outside the New York Stock Exchange on September 17, demonstrators set up a rag-tag camp three blocks away. Zuccotti Park is a campground festooned with placards and anti-Wall Street slogans. The group is adding complaints of excessive police force against protesters and police treatment of ethnic minorities and Muslims to its grievances list, which includes bank bailouts, foreclosures and high unemployment. (Xinhua/Reuters Photo)
Hot Forum Discussion