What does APEC mean in GOVERNMENTAL
APEC, an acronym for Asia-Pacific Economic Cooperation, is an intergovernmental forum that promotes economic cooperation among member economies in the Asia-Pacific region. Established in 1989, APEC aims to facilitate trade and investment, foster regional economic integration, and support sustainable economic growth.
APEC meaning in Governmental in Governmental
APEC mostly used in an acronym Governmental in Category Governmental that means Asia-Pacific Economic Cooperation group
Shorthand: APEC,
Full Form: Asia-Pacific Economic Cooperation group
For more information of "Asia-Pacific Economic Cooperation group", see the section below.
Members
APEC comprises 21 member economies, including:
- Australia
- Brunei Darussalam
- Canada
- Chile
- People's Republic of China
- Hong Kong, China
- Indonesia
- Japan
- Republic of Korea
- Malaysia
- Mexico
- New Zealand
- Papua New Guinea
- Peru
- Philippines
- Russian Federation
- Singapore
- Chinese Taipei
- Thailand
- United States
- Vietnam
Objectives
The primary objectives of APEC include:
- Promoting free and open trade and investment: APEC strives to reduce trade barriers and facilitate the flow of goods and services within the region.
- Strengthening economic cooperation: Member economies engage in cooperation in various sectors, including energy, finance, transportation, and security.
- Supporting sustainable economic growth: APEC promotes policies that foster inclusive economic development and environmental sustainability.
- Enhancing regional stability and prosperity: By promoting economic cooperation, APEC contributes to stability and prosperity in the Asia-Pacific region.
Structure
APEC is structured around several key elements:
- Leaders' Meetings: Annual meetings of heads of government or state to set broad policy directions.
- Ministerial Meetings: Meetings of ministers responsible for specific economic sectors to address issues and develop initiatives.
- Senior Officials' Meetings: Meetings of senior government officials to prepare for ministerial meetings and implement decisions.
- Business Advisory Council: A group of business leaders who provide advice and input to APEC leaders.
- Secretariat: A permanent body based in Singapore that provides administrative and technical support to APEC.
Essential Questions and Answers on Asia-Pacific Economic Cooperation group in "GOVERNMENTAL»GOVERNMENTAL"
What is APEC?
APEC, short for Asia-Pacific Economic Cooperation, is an intergovernmental forum established in 1989 to promote economic cooperation and trade in the Asia-Pacific region.
Which countries are members of APEC?
APEC has 21 member economies, including Australia, Brunei Darussalam, Canada, Chile, China, Hong Kong, Indonesia, Japan, South Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, Taiwan, Thailand, the United States, and Vietnam.
What are the goals of APEC?
APEC's primary goals are to facilitate trade and investment, promote economic growth, enhance cooperation on technical and economic issues, and reduce trade barriers within the Asia-Pacific region.
What are some of the initiatives APEC has implemented?
APEC has implemented various initiatives to achieve its goals, including the Bogor Goals, which aim to achieve free and open trade in the Asia-Pacific region by 2020; the APEC Business Travel Card, which allows business travelers from member economies to enter and exit other member economies without a visa; and the APEC Food Standards Forum, which promotes cooperation on food safety standards.
How does APEC operate?
APEC operates through a series of annual meetings, including the APEC Economic Leaders' Meeting, where heads of government from member economies gather to discuss economic issues and set priorities; the APEC Ministerial Meeting, where ministers responsible for trade, finance, and other economic matters meet to advance APEC's goals; and various working groups and committees that focus on specific areas of cooperation.
Final Words: APEC plays a vital role in promoting economic cooperation and integration in the Asia-Pacific region. By facilitating trade and investment, strengthening economic cooperation, and supporting sustainable growth, APEC contributes to the prosperity and stability of the region and beyond.
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