apec.org Reviews

The Asia-Pacific Economic Cooperation (APEC) is a regional economic forum established in 1989 to leverage the growing interdependence of the Asia-Pacific. APEC’s 21 members aim to create greater prosperity for the people of the region by promoting balanced, inclusive, sustainable, innovative, and secure growth and by accelerating regional economic integration. APEC’s members are Australia, Brunei Darussalam, Canada, Chile, China, Hong Kong, China, Indonesia, Japan, Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, Chinese Taipei, Thailand, United States, and Vietnam. APEC’s work is organized into three main pillars: trade and investment liberalization, business facilitation, and economic and technical cooperation. The organization’s activities cover a wide range of areas, including digital economy, structural reform, human security, and women and the economy. APEC operates on the basis of non-binding commitments and open dialogue, with decisions made by consensus. The APEC Secretariat, based in Singapore, supports the work of the organization and facilitates communication and coordination among members. APEC holds an annual Economic Leaders’ Meeting, which is attended by the heads of government of all member economies. This meeting provides an opportunity for leaders to discuss and provide guidance on APEC’s work and to address key regional and global economic issues. APEC’s work is also supported by various ministerial and senior official meetings, as well as working groups and committees. APEC’s activities are funded through contributions from its members. The organization also engages with the private sector, academia, and other stakeholders to ensure that its work is relevant and impactful. APEC’s vision is for the Asia-Pacific to be a region of open and integrated economies that promotes sustainable economic growth and equitable development. The organization’s work is guided by the Bogor Goals, which were adopted in 1994 and set the target of free and open trade and investment in the Asia-Pacific by 2020 for industrialized economies and by 2020 for developing economies. While the Bogor Goals have not been fully achieved, APEC continues to work towards their realization and to address new and emerging challenges facing the region. APEC’s work is particularly important in the context of the Asia-Pacific’s growing economic significance and the increasing interconnectedness of the region. By promoting economic cooperation and integration, APEC aims to contribute to the stability and prosperity of the Asia-Pacific and to the global economy as a whole.”

the reasons behind this review :
APEC is a well-established and reputable international organization that has been operating for over three decades. It is a forum for promoting economic cooperation and integration in the Asia-Pacific region, with a focus on sustainable and inclusive growth. APEC's work is supported by its 21 member economies, which include major global players such as the United States, China, Japan, and Australia. The organization operates on the basis of non-binding commitments and consensus decision-making, and its activities cover a wide range of areas, including trade and investment liberalization, business facilitation, and economic and technical cooperation. APEC's annual Economic Leaders' Meeting, attended by the heads of government of member economies, provides a platform for high-level discussions on regional and global economic issues. APEC's work is guided by the Bogor Goals, which set the target of free and open trade and investment in the Asia-Pacific region. While these goals have not been fully achieved, APEC continues to work towards their realization and to address new and emerging challenges facing the region. The organization's activities are funded through contributions from its members, and it engages with the private sector, academia, and other stakeholders to ensure the relevance and impact of its work. APEC's vision is for the Asia-Pacific to be a region of open and integrated economies that promotes sustainable economic growth and equitable development. Overall, APEC is a legitimate and respected international organization that plays a significant role in promoting economic cooperation and integration in the Asia-Pacific region.