Asia-Pacific Economic Cooperation

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Related to Apec: ASEAN, OPEC

Asia-Pacific Economic Cooperation:

see under Pacific RimPacific Rim,
term used to describe the nations bordering the Pacific Ocean and the island countries situated in it. In the post–World War II era, the Pacific Rim has become an increasingly important and interconnected economic region.
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Aside from pushing the traditional APEC agenda of trade and investment, the Philippines also pushed for a development agenda through inclusive growth and the APEC Strategy for Strengthening Quality Growth.
Ambassador Thomas Hubbard described the expanded importance of APEC over the past two decades, along with the dynamic growth of the Philippine economy.
Thirty-seven technical group meetings were scheduled to pave the way for cooperation of Apec member economies in counter-terrorism, emergency preparedness, higher education, and structural reforms, said Jose, adding that Apec also wants member economies to forge economic cooperation in fisheries; food security; human resource development; internet- telecommunication technology, tourism; and trade.
Now that we have all these agreements and commitments, we must show to the world that APEC will continue to play a significant role in the global economy," he said.
Initiatives that can help to facilitate the movement of people, goods, services, information and energy in the region are among APEC economies' focuses.
China has made positive contributions to the growth of APEC," Hu said.
The US last hosted APEC in 1993 on Blake Island, Washington, where
Promoting green growth is another APEC priority this year, through technical cooperation and reducing barriers to trade in environmental goods and services.
The APEC CEO Summit is the premier business event for the Asia Pacific.
On his way to attend the 18th annual Asia Pacific Economic Cooperation (APEC) Forum in Vietnam, President Bush acknowledged in Singapore on November 16: "Recently, some APEC members have advanced the idea of a free trade agreement for the entire APEC region.
A 'Best Practices' Handbook, published for the APEC Sub-Committee on Customs Procedures (SCCP) to improve access to customs laws and regulations for APEC Member Economies, has been made available online.