APEC finals

Question 0

Unique

Answer 0

It is the only intergovernmental grouping in the world operating on the basis of non-binding commitments, open dialogue and equal
Respect for the views of the participants.

Apec has no treaty obligations required and decisions are reached by consensus and commitments undertaken on voluntary basis

Question 1

What is APEC?

Answer 1

It is the premier forum for facilitating economic growth, cooperation, trade and investment in the Asia-Pacific Region which was established in 1989 in Canberra, Australia

Question 2

Members

Answer 2

21 member economies

Brunei, Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam

Hongkong, Japan, Korea, Taipei

Australia, New Zealand, Papay New Guinea

Canada, Mexico, US

Russia, Proc
Chile, Peru,

Question 3

“Bogor goals” of Free And Open Trade and Investment in the Asia Pacific 2010 for industrialized economies and 2020 for developing economies.

Answer 3

APEC member economies follow the osaka action agenda which seeks member economies to undertake individual and collective actions on a voluntary and non-binding basis in the areas of tariffs, non-tariff measures, services and investment

Question 4

Main pillars of APEC

Answer 4

Trade and Investment Liberalization
Business Facilitation
Economic and Technical Cooperation

Question 5

Trade and Investment Liberalization

Answer 5

It works on the basis of unilateral liberalization, which means that each APEC member voluntarily agrees to liberalize in a particular area of trade and investment

Question 6

Business Facilitation

Answer 6

It aimed at making doing business in the region easier and less costly. APEC has already made substantial progress in many areas including standards, customs, electronic commerce, business travel, telecommunications, energy, fisheries and government procurement.

Question 7

Economic and Technical Cooperation

Answer 7

Short for “Ecotech”. It is collectively the activities and programs of APEC aimed at achieving its overall goals of attaining sustainable growth, broadening the benefits of that growth to improve the economic and social well being of all our people and deepen the spirit of community in APEC.

Question 8

APEC

Answer 8

Its major component activity is the regular meetings of the heads of the states to review problems and progress in economic cooperation among member economies.

Provides a framework for discussing basic concerns that ultimate get into the agenda of world trade liberalization