APEC (Asia-Pacific Economic Cooperation) Video lecture

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APEC (Asia-Pacific Economic Cooperation)


Overview:


APEC Established:November 1989.
Members of APEC:21 Members.
Headquarters of APEC:Singapore.
Executive Director:Rebecca Fatima Santa Maria.
APEC Region:Asia-Pacific Region.

What is APEC:


APEC is an intergovernmental economic cooperation forum of countries situated in the Asia-Pacific region. The APEC is the biggest highest-level economic forum in the Asia-Pacific Region. APEC stands for Asia-Pacific Economic Cooperation.


Establishment of the APEC:


The APEC was established in 1989 with the 12 member states, and later in 1991 China, Hong-Kong, and Taiwan joined the organization. In 1993 Mexico and Papua New Guinea joined the group. In 1994 Chile joined the group, and in 1998 Peru, Russia, and Vietnam also Joined the APEC.


Members of the APEC:


Currently, The APEC comprises 21 member states. Let's see who are the 21 members of APEC, the list of APEC members is given below.


flag-iconAustraliaflag-iconIndonesia
flag-iconBruneiflag-iconJapan
flag-iconCanadaflag-iconMalaysia
flag-iconChinaflag-iconMexico
flag-iconChileflag-iconNew Zealand
flag-iconHong Kong
flag-iconPapua New Guineaflag-iconSouth Korea
flag-iconPeruflag-iconTaiwan
flag-iconPhilippinesflag-iconThailand
flag-iconRussiaflag-iconUnited States
flag-iconSingaporeflag-iconVietnam

The Objectives and Functions of the APEC:


The main objective of APEC is to promote the Free trade throughout the Asia-Pacific region. As the tagline of APEC says "Advancing free trade for Asia-Pacific Prosperity."


Headquarters of the APEC:


The headquarters of the APEC is situated in Singapore.


India and the APEC:


Currently, India is not the member of APEC but applied for the membership, and a number of APEC member countries including maximum founding member countries of APEC supporting India's bid for APEC membership but, some countries blocking India's bid saying that India does not share the Pacific ocean region, whereas all the current member countries share the Pacific ocean region. India is trying to get membership of APEC, and Including India in APEC will definitely benefit the whole region because India is one of the fastest growing big economy with the largest young population in the World.