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Asia-Pacific Economic Cooperation (APEC)
APEC member economies shown in green.
• Executive Director
|Rebecca Fatima Santa Maria|
Asia-Pacific Economic Cooperation (APEC) is an inter-governmental forum for 21 Pacific Rim member economiesthat promotes free trade throughout the Asia-Pacific region. Inspired from the success of Association of Southeast Asian Nations (ASEAN)’s series of post-ministerial conferences launched in the mid-1980s, the APEC was established in 1989 in response to the growing interdependence of Asia-Pacific economies and the advent of regional trade blocs in other parts of the world; and to establish new markets for agricultural products and raw materials beyond Europe. Headquartered in Singapore, the APEC is recognized as one of the highest-level multilateral blocs and oldest forums in the Asia-Pacific region, and exerts a significant global influence.
The Pacific Rim comprises the lands around the rim of the Pacific Ocean. The Pacific Basin includes the Pacific Rim and the islands in the Pacific Ocean. The Pacific Rim roughly overlaps with the geologic Pacific Ring of Fire.
Free trade is a trade policy that does not restrict imports or exports; it can also be understood as the free market idea applied to international trade. In government, free trade is predominantly advocated by political parties that hold liberal economic positions while economically left-wing and nationalist political parties generally support protectionism, the opposite of free trade.
The Association of Southeast Asian Nations is a regional intergovernmental organization comprising ten countries in Southeast Asia, which promotes intergovernmental cooperation and facilitates economic, political, security, military, educational, and sociocultural integration among its members and other countries in Asia.
An annual APEC Economic Leaders' Meeting is attended by the heads of government of all APEC members except Republic of China (which is represented by a ministerial-level official under the name Chinese Taipei as economic leader).The location of the meeting rotates annually among the member economies, and a famous tradition, followed for most (but not all) summits, involves the attending leaders dressing in a national costume of the host country. APEC has three official observers: the Association of Southeast Asian Nations Secretariat, the Pacific Economic Cooperation Council and the Pacific Islands Forum Secretariat. APEC's Host Economy of the Year is considered to be invited in the first place for geographical representation to attend G20 meetings following G20 guidelines.
Taiwan, officially the Republic of China (ROC), is a state in East Asia. Neighbouring states include the People's Republic of China (PRC) to the north-west, Japan to the north-east, and the Philippines to the south. The island of Taiwan has an area of 35,808 square kilometres (13,826 sq mi), with mountain ranges dominating the eastern two-thirds and plains in the western third, where its highly urbanised population is concentrated. Taipei is the capital and largest metropolitan area. Other major cities include Kaohsiung, Taichung, Tainan and Taoyuan. With 23.7 million inhabitants, Taiwan is among the most densely populated states, and is the most populous state and largest economy that is not a member of the United Nations (UN).
The Pacific Economic Cooperation Council (PECC) is a network of member committees composed of individuals and institutions dedicated to promoting cooperation across the Asia Pacific region, headquartered in Singapore. PECC has 23 full member committees Australia; Brunei Darussalam; Canada; Chile; China; Colombia; Ecuador; Hong Kong; Indonesia; Japan; Korea; Malaysia; Mexico; Mongolia; New Zealand; Peru; the Philippines; Singapore; Taiwan; Thailand; the United States; Vietnam and the Pacific Island Forum, one associate member: France, and 2 institutional members: Pacific Trade and Development Conference (PAFTAD) and the Pacific Basin Economic Council (PBEC).
The Pacific Islands Forum (PIF) is an inter-governmental organization that aims to enhance cooperation between countries and territories of the Pacific Ocean. It was founded in 1971 as the South Pacific Forum (SPF), and changed its name in 1999 to "Pacific Islands Forum", so as to be more inclusive of the Forum's Oceania-spanning membership of both north and south Pacific island countries, including Australia. It is an United Nations General Assembly observer.
The APEC was initially inspired when ASEAN’s series of post-ministerial conferences, launched in the mid-1980s, had demonstrated the feasibility and value of regular conferences among ministerial-level representatives of both developed and developing economies. By 1989, the post ministerial conferences had expanded to embrace 12 members (the then six members of ASEAN and its six dialogue partners). The developments led Australian Prime Minister Bob Hawke to believe the necessity of region-wide co-operation on economic matters. In January 1989, Bob Hawke called for more effective economic co-operation across the Pacific Rim region. This led to the first meeting of APEC in the Australian capital of Canberra in November, chaired by Australian Foreign Affairs Minister Gareth Evans. Attended by ministers from twelve countries, the meeting concluded with commitments for future annual meetings in Singapore and South Korea. Ten months later, 12 Asia-Pacific economies met in Canberra, Australia, to establish APEC. The APEC Secretariat, based in Singapore, was established to co-ordinate the activities of the organisation.
Robert James Lee Hawke, was an Australian politician who served as Prime Minister of Australia and Leader of the Labor Party from 1983 to 1991. He was also Member of Parliament (MP) for Wills from 1980 to 1992.
Canberra is the capital city of Australia. Founded following the federation of the colonies of Australia as the seat of government for the new nation, it is Australia's largest inland city and the eighth-largest city overall. The city is located at the northern end of the Australian Capital Territory; 280 km (170 mi) south-west of Sydney and 660 km (410 mi) north-east of Melbourne.
Gareth John Evans AC, QC, is an Australian politician, international policymaker, academic and barrister. He represented the Australian Labor Party in the Senate and House of Representatives from 1978 to 1999, serving as a Cabinet Minister in the Hawke and Keating governments from 1983 to 1996 as Attorney-General, Minister for Resources and Energy, Minister for Transport and Communications and most prominently, from 1988 to 1996, as Minister for Foreign Affairs. He was Leader of the Government in the Senate from 1993 to 1996, Deputy Leader of the Opposition from 1996 to 1998, and remains one of the two longest-serving federal Cabinet Ministers in Labor Party history.
During the meeting in 1994 in Bogor, Indonesia, APEC leaders adopted the Bogor Goals that aim for free and open trade and investment in the Asia-Pacific by 2010 for industrialised economies and by 2020 for developing economies. In 1995, APEC established a business advisory body named the APEC Business Advisory Council (ABAC), composed of three business executives from each member economy.
Bogor is a city in the West Java province, Indonesia. Located around 60 kilometers (37 mi) south of the national capital of Jakarta, Bogor is the 6th largest city of Jakarta metropolitan area and the 14th nationwide. The city covers an area of 118.5 km2, and it had a population of 950,334 at the 2010 Census; the latest official estimate was 1,096,828. Bogor is an important economic, scientific, cultural and tourist center, as well as a mountain resort.
In April 2001, the APEC, in collaboration with five other international organisations (Eurostat, IEA, OLADE, OPEC and the UNSD) launched the Joint Oil Data Exercise, which in 2005 became the Joint Organisations Data Initiative (JODI).
The Joint Organisations Data Initiative (JODI) is an international collaboration to improve the availability and reliability of data on petroleum and natural gas. First named the "Joint Oil Data Exercise", the collaboration was launched in April 2001 with six international organisations: Asia-Pacific Economic Cooperation (APEC), Statistical Office of the European Communities (Eurostat), International Energy Agency (IEA), Latin American Energy Organization (OLADE), Organization of the Petroleum Exporting Countries (OPEC), and United Nations Statistics Division (UNSD). In 2005, the effort was renamed JODI, joined by the International Energy Forum (IEF), and covered more than 90% of the global oil market. The Gas Exporting Countries Forum (GECF) joined as an eighth partner in 2014, enabling JODI also to cover nearly 90% of the global market for natural gas.
The location of the meeting is rotated annually among the members.
|1989||1st||6–7 November||Canberra||Prime Minister Bob Hawke|
|1990||2nd||29–31 July||Singapore||Prime Minister Lee Kuan Yew|
|1991||3rd||12–14 November||Seoul||President Roh Tae-woo|
|1992||4th||10–11 September||Bangkok||Prime Minister Anand Panyarachun|
|1993||5th||19–20 November||Blake Island||President Bill Clinton|
|1994||6th||15–16 November||Bogor||President Suharto|
|1995||7th||18–19 November||Osaka||Prime Minister Tomiichi Murayama|
|1996||8th||24–25 November||Subic||President Fidel Ramos|
|1997||9th||24–25 November||Vancouver||Prime Minister Jean Chrétien|
|1998||10th||17–18 November||Kuala Lumpur||Prime Minister Mahathir Mohamad|
|1999||11th||12–13 September||Auckland||Prime Minister Jenny Shipley|
|2000||12th||15–16 November||Bandar Seri Begawan||Sultan Hassanal Bolkiah|
|2001||13th||20–21 October||Shanghai||President Jiang Zemin|
|2002||14th||26–27 October||Los Cabos||President Vicente Fox|
|2003||15th||20–21 October||Bangkok||Prime Minister Thaksin Shinawatra|
|2004||16th||20–21 November||Santiago||President Ricardo Lagos|
|2005||17th||18–19 November||Busan||President Roh Moo-hyun|
|2006||18th||18–19 November||Hanoi||President Nguyễn Minh Triết|
|2007||19th||8–9 September||Sydney||Prime Minister John Howard|
|2008||20th||22–23 November||Lima||President Alan Garcia Perez|
|2009||21st||14–15 November||Singapore||Prime Minister Lee Hsien Loong|
|2010||22nd||13–14 November||Yokohama||Prime Minister Naoto Kan|
|2011||23rd||12–13 November||Honolulu||President Barack Obama|
|2012||24th||9–10 September||Vladivostok||President Vladimir Putin|
|2013||25th||5–7 October||Bali||President Susilo Bambang Yudhoyono|
|2014||26th||10–11 November||Beijing||President Xi Jinping|
|2015||27th||18–19 November||Pasay||President Benigno Aquino III|
|2016||28th||19–20 November||Lima||President Pedro Pablo Kuczynski|
|2017||29th||10–11 November||Da Nang||President Trần Đại Quang|
|2018||30th||17–18 November||Port Moresby||Prime Minister Peter O'Neill|
|2019||31st||16–17 November (cancelled)||TBA||TBA||TBA|
|2020||32nd||TBA||Kuala Lumpur||Prime Minister Mahathir Mohamad|
|2021||33rd||November||Auckland||Prime Minister Jacinda Ardern|
APEC currently has 21 members. However, the criterion for membership is that the member is a separate economy, rather than a state. As a result, APEC uses the term member economies rather than member countries to refer to its members. One result of this criterion is that membership of the forum includes Taiwan (officially the Republic of China, participating under the name "Chinese Taipei") alongside People's Republic of China (see Cross-Strait relations), as well as Hong Kong, which entered APEC as a British colony but it is now a Special Administrative Region of the People's Republic of China. APEC also includes three official observers: ASEAN, the Pacific Islands Forum and the Pacific Economic Cooperation Council.
Cross-Strait relations, Mainland–Taiwan relations, or Taiwan–China relations refer to the relationship between the following two political entities, which are separated by the Taiwan Strait in the west Pacific Ocean:
|Member economie(s)||Name as used in APEC||Date of accession||GDP (nominal) in 2017|
(Millions of Int$)
|Brunei Darussalam||November 1989||32,958|
|Republic of Korea||November 1989||2,026,651|
|New Zealand||November 1989||185,748|
|The Philippines||November 1989||874,518|
|The United States||November 1989||19,362,129|
|Chinese Taipei||November 1991||1,175,308|
|Hong Kong, China||November 1991||453,019|
|People's Republic of China||November 1991||13,457,000|
|Papua New Guinea||November 1993||30,839|
|Viet Nam||November 1998||643,902|
|Member||Leader position||State leader|
|Prime Minister||Scott Morrison|
|Prime Minister||Justin Trudeau|
|Chief Executive||Carrie Lam|
|Prime Minister||Shinzō Abe|
|Prime Minister||Mahathir Mohamad|
|President||Andrés Manuel López Obrador|
|Prime Minister||Jacinda Ardern|
|Prime Minister||James Marape|
|Prime Minister||Lee Hsien Loong|
|President/Presidential Envoy||Tsai Ing-Wen (represented by Morris Chang)|
|Prime Minister||Prayut Chan-o-cha|
|President||Nguyễn Phú Trọng|
India has requested membership in APEC, and received initial support from the United States, Japan,Australia and Papua New Guinea. Officials have decided not to allow India to join for various reasons, considering that India does not border the Pacific Ocean, which all current members do. However, India was invited to be an observer for the first time in November 2011.
Bangladesh,Pakistan, Sri Lanka, Macau, Mongolia, Laos, Cambodia, Costa Rica, Colombia, Panama, and Ecuador, are among a dozen other economies that have applied for membership in APEC. Colombia applied for APEC's membership as early as in 1995, but its bid was halted as the organisation stopped accepting new members from 1993 to 1996, and the moratorium was further prolonged to 2007 due to the 1997 Asian Financial Crisis. Guam has also been actively seeking a separate membership, citing the example of Hong Kong, but the request is opposed by the United States, which currently represents Guam.
APEC has long been at the forefront of reform efforts in the area of business facilitation. Between 2002 and 2006 the costs of business transactions across the region was reduced by 6%, thanks to the APEC Trade Facilitation Action Plan (TFAPI). Between 2007 and 2010, APEC hopes to achieve an additional 5% reduction in business transaction costs. To this end, a new Trade Facilitation Action Plan has been endorsed. According to a 2008 research brief published by the World Bank as part of its Trade Costs and Facilitation Project, increasing transparency in the region's trading system is critical if APEC is to meet its Bogor Goal targets.The APEC Business Travel Card, a travel document for visa-free business travel within the region is one of the concrete measures to facilitate business. In May 2010 Russia joined the scheme, thus completing the circle.
APEC first formally started discussing the concept of a Free Trade Area of the Asia-Pacific (FTAAP) at its summit in 2006 in Hanoi. However, the proposal for such an area has been around since at least 1966 and Japanese economist Kiyoshi Kojima's proposal for a Pacific Free Trade agreement proposal. While it gained little traction, the idea led to the formation of Pacific Trade and Development Conference and then the Pacific Economic Cooperation Council in 1980 and then APEC in 1989.
In the wake of the 2006 summit, economist C. Fred Bergsten advocated a Free Trade Agreement of Asia-Pacific, including the United States amongst the proposed parties to any agreement at that time.His ideas convinced the APEC Business Advisory Council to support this concept. Relatedly, ASEAN and existing free trade agreement (FTA) partners are negotiating as Regional Comprehensive Economic Partnership (RCEP), not officially including Russia. The Trans-Pacific Partnership (TPP) without China or Russia involved has become the US-promoted trade negotiation in the region. At the APEC summit in Beijing in 2014, the three plans were all in discussion. President Obama hosted a TPP meeting at the US Embassy in Beijing in advance of the APEC gathering.
The proposal for a FTAAP arose due to the lack of progress in the Doha round of World Trade Organization negotiations, and as a way to overcome the "noodle bowl" effect created by overlapping and conflicting elements of the copious free trade agreements – there were approximately 60 free trade agreements in 2007, with an additional 117 in the process of negotiation in Southeast Asia and the Asia-Pacific region.In 2012, ASEAN+6 countries alone had 339 free trade agreements – many of which were bilateral.
The FTAAP is more ambitious in scope than the Doha round, which limits itself to reducing trade restrictions. The FTAAP would create a free trade zone that would considerably expand commerce and economic growth in the region.The economic expansion and growth in trade could exceed the expectations of other regional free trade areas such as the ASEAN Plus Three (ASEAN + China, South Korea and Japan). Some criticisms include that the diversion of trade within APEC members would create trade imbalances, market conflicts and complications with nations of other regions. The development of the FTAAP is expected to take many years, involving essential studies, evaluations and negotiations between member economies. It is also affected by the absence of political will and popular agitations and lobbying against free trade in domestic politics.
At the 2014 APEC summit in Beijing, APEC leaders agreed to launch "a collective strategic study" on the FTAAP and instruct officials to undertake the study, consult stakeholders and report the result by the end of 2016.APEC Executive Director Alan Bollard revealed in the Elite Talk show that FTAAP will be APEC's big goal out into the future.
The Trans-Pacific Partnership includes 12 of the 21 APEC members and has provisions for the accession of other APEC members, five of which have expressed interest in membership.
In 1993, APEC Leaders decided to establish a network of APEC Study Centres (APCs) among universities and research institutions in member economies. The purpose is to foster cooperation among tertiary and research institutes of member economies, thus having better academic collaboration on key regional economic challenges. To encourage independence from the APEC conference, the APCs are funded independently and choose their own research topics.
As of December 2018, there are 70 APCs among the member economies. An annual conference is usually held in the host economy for that year.
The APEC Business Advisory Council (ABAC) was created by the APEC Economic Leaders in November 1995 with the aim of providing advice to the APEC Economic Leaders on ways to achieve the Bogor Goals and other specific business sector priorities, and to provide the business perspective on specific areas of co-operation.
Each economy nominates up to three members from the private sector to ABAC. These business leaders represent a wide range of industry sectors. ABAC provides an annual report to APEC Economic Leaders containing recommendations to improve the business and investment environment in the Asia-Pacific region, and outlining business views about priority regional issues. ABAC is also the only non-governmental organisation that is on the official agenda of the APEC Economic Leader's Meeting.
Since its formation in 1989, APEC has held annual meetings with representatives from all member economies. The first four annual meetings were attended by ministerial-level officials. 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.
In 1997, the APEC meeting was held in Vancouver. Controversy arose after officers of the Royal Canadian Mounted Police used pepper spray against protesters. The protesters objected to the presence of autocratic leaders such as Indonesian president Suharto.
At the 2001 Leaders' Meeting in Shanghai, APEC leaders pushed for a new round of trade negotiations and support for a program of trade capacity-building assistance, leading to the launch of the Doha Development Agenda a few weeks later. The meeting also endorsed the Shanghai Accord proposed by the United States, emphasising the implementation of open markets, structural reform, and capacity building. As part of the accord, the meeting committed to develop and implement APEC transparency standards, reduce trade transaction costs in the Asia-Pacific region by 5 percent over 5 years, and pursue trade liberalisation policies relating to information technology goods and services.
In 2003, Jemaah Islamiah leader Riduan Isamuddin had planned to attack the APEC Leaders Meeting to be held in Bangkok in October. He was captured in the city of Ayutthaya, Thailand by Thai police on 11 August 2003, before he could finish planning the attack.[ citation needed ] Chile became the first South American nation to host the Leaders' Meeting in 2004. The agenda of that year was focused on terrorism and commerce, small and medium enterprise development, and contemplation of free agreements and regional trade agreements.
The 2005 Leaders' Meeting was held in Busan, South Korea. The meeting focused on the Doha round of World Trade Organization (WTO) negotiations, leading up to the WTO Ministerial Conference of 2005 held in Hong Kong in December. Weeks earlier, trade negotiations in Paris were held between several WTO members, including the United States and the European Union, centred on reducing agricultural trade barriers. APEC leaders at the summit urged the European Union to agree to reducing farm subsidies. In a continuation of the climate information sharing initiative established by APEC Climate Network working group, it was decided by the leaders to install the APEC Climate Center in Busan. Peaceful protests against APEC were staged in Busan, but the meeting schedule was not affected.
At the Leaders' Meeting held on 19 November 2006 in Hanoi, APEC leaders called for a new start to global free-trade negotiations while condemning terrorism and other threats to security. APEC also criticised North Korea for conducting a nuclear test and a missile test launch that year, urging the country to take "concrete and effective" steps toward nuclear disarmament. Concerns about nuclear proliferation in the region was discussed in addition to economic topics. The United States and Russia signed an agreement as part of Russia's bid to join the World Trade Organization.
The APEC Australia 2007 Leaders' Meeting was held in Sydney from 2–9 September 2007. The political leaders agreed to an "aspirational goal" of a 25% reduction of energy intensity correlative with economic development.Extreme security measures including airborne sharpshooters and extensive steel-and-concrete barricades were deployed against anticipated protesters and potential terrorists. However, protest activities were peaceful and the security envelope was penetrated with ease by a spoof diplomatic motorcade manned by members of the Australian television program The Chaser , one of whom was dressed to resemble the Al-Qaeda leader Osama bin Laden.
The APEC Chile 2019, originally to be held 16-17 November 2019 in Chile, was cancelled due to ongoing protests by sections of its population over inequality, the cost of living and police repression.
At the end of the APEC Economic Leaders' Meeting the leaders gather for the official APEC Leaders' Family Photo. A tradition has the leaders dressing to reflect the culture of the host member. The tradition dates to the first such meeting in 1993 when then-U.S. President Bill Clinton insisted on informal attire and gave the leaders leather bomber jackets. At the 2010 meeting Japan had the leaders dress in smart casual rather than the traditional kimono. Similarly, when Honolulu was selected in 2009 as the site for the 2011 APEC meeting, U.S. President Barack Obama joked that he looked forward to seeing the leaders dressed in "flowered shirts and grass skirts". After viewing previous photos, and concerned that having the leaders dress in aloha shirts might give the wrong impression during a period of economic austerity, Obama instead decided it might be time to end the tradition. Leaders were given a specially designed aloha shirt as a gift but were not expected to wear it for the photo. Leaders in Bali, Indonesia at the 2013 conference wore a batik outfit; in China 2014 Tang suit jackets; in the Philippines 2015 Barong Tagalogs; in Peru 2016 vicuna wool shawls; in 2017 Vietnamese silk shirts.
APEC has been criticised for promoting free trade agreements that would impose restrictions on national and local laws, which regulate and ensure labour rights, environmental protection and safe and affordable access to medicine.According to the organisation, it is "the premier forum for facilitating economic growth, cooperation, trade and investment in the Asia-Pacific region" established to "further enhance economic growth and prosperity for the region and to strengthen the Asia-Pacific community". The effectiveness and fairness of its role has been questioned, especially from the viewpoints of European countries that cannot take part in APEC and Pacific Island nations that cannot participate but stand to be affected by its decisions.
The economy of Asia comprises more than 4.5 billion people living in 49 different nations. Six further states lie partly in Asia, but are considered to belong to another region economically and politically. Asia is the fastest growing economic region, as well as the largest continental economy by both GDP Nominal and PPP in the world. China, Japan, India, South Korea and Indonesia are currently the top five economies in Asia. Moreover, Asia is the site of some of the world's longest modern economic booms, starting from the Japanese economic miracle (1950–1990), Miracle on the Han River (1961–1996) in South Korea, economic boom (1978–2013) in China and economic boom in India (1991–present).
The ASEAN Summit is a biannual meeting held by the members of the Association of Southeast Asian Nations (ASEAN) in relation to economic, political, security, and socio-cultural development of Southeast Asian countries. In addition, it serves as a prominent regional (Asia) and international (worldwide) conference, with world leaders attending its related summits and meetings to discuss various problems and global issues, strengthening co-operation, and making decisions. The summit has been praised by world leaders for its success and ability to produce results on a global level.
The East Asia Summit (EAS) is a regional forum held annually by leaders of, initially, 16 countries in the East Asian, Southeast Asian, and South Asian regions, based on the ASEAN Plus Six mechanism. Membership expanded to 18 countries including Russia and the United States at the Sixth EAS in 2011. Since its establishment, ASEAN has held the central role and leadership in the forum. EAS meetings are held after the annual ASEAN leaders' meetings, and plays an important role in the regional architecture of Asia-Pacific. The first summit was held in Kuala Lumpur, Malaysia on 14 December 2005.
The Pacific Trade and Development Conference (PAFTAD) is an informal private academic conference series that, since its origins in 1968, has developed into a driving force behind the development of thought on Pacific trade and development issues and important economic policy questions facing the region.
East Asian Community (EAC) is a proposed trade bloc for the East Asian and Southeast Asian countries that may arise out of either ASEAN Plus Three or the East Asia Summit (EAS).
APEC Peru 2008 was a series of political meetings held around Peru between the 21 member economies of the Asia-Pacific Economic Cooperation during 2008. Although business leaders of the region also met before the summit officially began. Leaders from all the member countries met during November 22–23, 2008, in the capital city of Lima.
The East Asia Summit (EAS) is a pan-Asia forum held annually by the leaders of 16 countries in the East Asian region. EAS meetings are held after annual ASEAN leaders’ meetings.
The China–Japan–South Korea trilateral summit is an annual summit held between China, Japan and South Korea, three major countries in East Asia. The first summit was held during December 2008 in Fukuoka, Japan. The talks are focused on maintaining strong trilateral relations, the regional economy and disaster relief.
APEC United States 2011 was a series of political meetings around the United States between the 21 member economies of the Asia-Pacific Economic Cooperation during 2011. It culminated in the 19th APEC Economic Leaders' Meeting held at the Hawaii Convention Center in Honolulu, Hawaii from November 12–13, 2011. The United States last hosted an APEC summit at the 1993 summit in Seattle. President Barack Obama, a Honolulu native, and First Lady Michelle Obama hosted the other leaders and spouses.
The ASEAN–India Free Trade Area (AIFTA) is a free trade area among the ten member states of the Association of Southeast Asian Nations (ASEAN) and India. The initial framework agreement was signed on 8 October 2003 in Bali, Indonesia. and the final agreement was on 13 August 2009. The free trade area came into effect on 1 January 2010. India hosted the latest ASEAN-India Commemorative Summit in New Delhi on 26 January 2018. In the financial year 2017-18, Indo-ASEAN bilateral trade grew by almost 14% to reach US$81.3 billion. India's imports from ASEAN were valued at US$47.13 billion while its exports to ASEAN stood at US$34.2 billion.
The Regional Comprehensive Economic Partnership (RCEP) is a proposed free trade agreement in the Asia-Pacific region between the ten member states of the Association of Southeast Asian Nations and their five FTA partners. India, ASEAN's sixth FTA partner, opted out of the agreement in 2019.
The foreign policy of the Modi government concerns the policy initiatives made towards other states by the current Modi government after he assumed office as Prime Minister of India on 26 May 2014.
APEC Philippines 2015 was the year-long hosting of Asia-Pacific Economic Cooperation (APEC) summit which concluded with the APEC Economic Leaders' Meeting held on 18–19 November 2015 in Pasay, Metro Manila. It was the second time the Philippines hosted the summit, the first being the 1996 APEC summit.
The negotiations for the Trans-Pacific Partnership Agreement were held between 12 countries between 2008 and 2015. The negotiations were aimed at obtaining an agreement between the Trans-Pacific Strategic Economic Partnership Agreement parties Brunei, Chile, Singapore and New Zealand, as well as the Australia and the United States.
APEC Philippines 1996 was a series of Asia-Pacific Economic Cooperation meetings focused on economic cooperation, held at the Subic Bay Freeport Zone in Subic, Zambales on 24–25 November 1996. It was the eighth APEC meeting in history and the first held in the Philippines.
APEC Thailand 2003 was a series of political meetings held around Thailand between the 21 member economies of the Asia-Pacific Economic Cooperation during 2003. Various meetings were held across Thailand to discuss present economic conditions and future global policies. Leaders from all the member countries met from 20-21 October 2003 in Bangkok. President George W. Bush will attend leaders' meetings and will visit Indonesia, Japan, the Philippines, Singapore and Australia. The presentation defines the major issues that may arise during the APEC meeting and President Bush's visit to East Asia. The theme of APEC in 2003 is "Different worlds: Partnership for the Future", which aims to bring together the greatest potential of all APEC economies to meet future challenges, in particular the free and open trade of APEC and investment in the developed APEC economies. This central theme is magnified by a series of five sub-themes designed to guide APEC working groups and forums in achieving their objectives.
APEC China 2001 was a series of economic and political meetings between the 21 member states of the Asia-Pacific Economic Cooperation forum held in the People's Republic of China during 2001. Various meetings were held across the country, with leaders from all the member countries meeting 20–21 October 2001 in Shanghai.
APEC Mexico 2002 was a series of political meetings held around Mexico between the 21 member economies of the Asia-Pacific Economic Cooperation during 2002. Various meetings were held across Mexico in 2002. Leaders from all the member countries met from 26-27 October 2002 in Los Cabos. Counter-terrorism efforts were expected to be major issues
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