news unrolled

Post: Asia-Pacific Economic Cooperation (APEC)

Categories

Asia Pacific Economic Cooperation (APECThe Asia-Pacific Forum for Economic Cooperation is an interstate forum that aims to ensure the well-being of residents by promoting balanced, inclusive, sustainable, innovative and secure growth and accelerating regional economic integration.

In APEC member countries residence 2.9 billion people. APEC members account for 62% of world GDP and 48% of international trade turnover.

APEC economies expected to grow in 2022 will be 2.5%In 2023, it will be 2.6% according to forecasts.

became APEC educated At the first conference of foreign and economic ministers of 12 countries in the Asia-Pacific region (APR) in the city of Canberra (Australia) on the initiative of Australia in November 1989.

Creation of APEC previously The formation of more local economic unions in the Asia-Pacific region in the 1960s-1980s – Pacific Economic Council, Pacific Economic Cooperation Conference, South Pacific Forum, etc.

APEC does not have a charter, so it is not legally an organization and acts as an international foruman advisory body to discuss economic issues.

APEC members 21 countries and region: Australia, Brunei, Vietnam, Hong Kong (PRC’s Hong Kong Special Administrative Region), Indonesia, Canada, PRC, Republic of Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, Russia, Singapore, USA , Thailand, Taiwan, Philippines, Chile, Japan.

Given the details arising from Taiwan and Hong Kong’s participation in APEC, government symbols cannot be used on the Forum site and members received We call it the “economy”.

In 1998, concurrent with the entry of Russia, Vietnam and Peru into APEC, it was decided to introduce a moratorium on further expansion of forum membership. Guatemala, India, Cambodia, Colombia, Costa Rica, Macau, Mongolia, Pakistan, Panama, Sri Lanka and Ecuador show interest in participating in the APEC forum.

Observer status is held by the Association of Southeast Asian Nations, the Pacific Economic Cooperation Council, and the Pacific Islands Forum.

The original APEC Bogor program goals (announced at the 1994 summit in Bogor, Indonesia) are to build “free and open trade and investment activity” in the Asia-Pacific region (APR) by 2020, while recognizing the priority of multilateral trade. system embodied in the WTO. The mechanism to act in this direction is that the participants take voluntary steps in line with the advisory decisions they have adopted based on consensus. Such a procedure for the work of the Forum makes it possible to take into account the peculiarities of each economy and actually contributes to the establishment of the principle of equal multilateralism in international relations.

The successive forum presidency of a number of emerging economies (Indonesia, China, Philippines, Peru, Vietnam, Papua New Guinea, Chile) in 2013-2019 placed the issue of integrated promotion of inclusive growth at the forefront of its agenda. The most appropriate response to key modern threats, such as increasing protectionism, growing inequality between different economies and social groups, and the long-term economic well-being of the Asia-Pacific region, including the deteriorating demographic situation due to population aging.

In this context, the importance of continuing the steps towards liberalization and harmonization of national regimes for the regulation of trade and investment, especially in the service sector, was emphasized within the framework of the launch of the Asia-Pacific Free Trade Concept. Area (AFTA). At the same time, emphasis was placed on the restructuring of economic activities aimed at developing the digital economy, supporting small and medium-sized enterprises and increasing productivity.

As the official deadline for the implementation of the Bogor targets (generally deemed to have been achieved) has expired at the APEC summit held online on 20 November 2020, approved The “Purajaya APEC Development Guidelines by 2040” provides for the formation of “an open, dynamic, viable and peaceful Asia-Pacific community” by 2040.

solve this problem so called Based on the core principles of volunteerism and consensus for APEC in making advisory decisions, emphasizing the following areas of work:

– Establishing a free, open, fair, non-discriminatory, transparent and predictable trade and investment environment that ensures the functioning of the multilateral trading system based on the rules accepted within the WTO; strengthening regional connectivity;

– promotion of innovations; improvement of digital infrastructure; increase the speed of digital transformation; closing the digital divide to increase productivity and growth momentum and the successful participation of citizens and businesses in an interconnected global economy;

– ensuring high-quality economic growth that contributes to increasing general well-being, including representatives of micro, small and medium-sized enterprises, women and other population groups whose economic potential is not exploited; inclusive human resources development; seeking answers to a range of environmental challenges, including climate change.

The governing bodies of the forum are the annual informal summits of heads of state and government, and joint meetings of foreign ministers and ministers of commerce that coincide with these meetings. Profile ministers meetings are held regularly.

Within the framework of the Forum, there are more than 30 industry dialogue structures at expert level (on trade and investment, standards and compliance, small and medium enterprises, transport, energy, human resources, health, etc.). with the study of current issues of socio-economic development of the region.

Administrative and technical functions are entrusted to the secretariat located in Singapore. It is managed by a contract director selected on the basis of open competition (since 2019 – Rebecca Fatima Sta Maria from Malaysia).

under APEC valid The Business Advisory Council (consisting of three representatives of each economy appointed by the heads of state and government) designed to promote business approaches to trade and investment cooperation issues in the region on this platform.

The Forum has no alphabetical or other official presidential order, lasting one calendar year (applicants submit their candidacy on their own initiative). These functions include holding about a hundred events at various levels, including a leaders’ meeting on their territory, and provide certain privileges in setting agenda priorities, provided that appropriate continuity in forum work is maintained.

Peru, Vietnam, Papua New Guinea, Chile, Malaysia, New Zealand and Thailand preside over the forum from 2016 to 2022, as agreed by APEC leaders at the Indonesian summit in 2013.

In 2012, Russia chaired the APEC summit for the first time. The forum was held on Russky Island in Vladivostok, on the territory of the Far Eastern Federal University. Russia has announced the following areas as the priorities of its presidency: improvement of transport and logistics, food security, trade liberalization and regional economic integration and cooperation in innovation.

In 2018, the APEC summit was held on 17-18 November in Port Moresby, the capital of Papua New Guinea. For the first time since 1993, the summit ended without a joint leaders’ declaration. The meeting took place against the backdrop of a trade war between China and the United States, the world’s largest economies, and a number of Western media reported friction with the Chinese delegation in the preparation of the final document.

The APEC summit in 2019 was supposed to be held in Chile, but the country’s authorities had to cancel the summit in connection with the mass protests that took place in the country, often resulting in riots and clashes with the police. A state of emergency was declared in the country, a curfew was imposed for several nights in a row.

at APEC in 2020 presidential Malaysia. The summit was held on 20 November, under the chairmanship of Malaysian Prime Minister Muhyiddin Yasin due to the COVID-19 outbreak, via video conference.

The main topic of the meeting is ways to overcome the socio-economic consequences of the novel coronavirus infection pandemic. In addition, the possibilities of cooperation within the framework of APEC were discussed, including ensuring free trade and increasing the volume of investment.

During the meeting, the leaders’ statement on the 2020 Kuala Lumpur Declaration and the Putrajaya APEC Development Guidelines by 2040 were adopted.

in 2021 APEC was chaired by New Zealand.

An informal meeting of APEC Economic Leaders was held via videoconference on 16 July 2021, chaired by New Zealand Prime Minister Jacinda Ardern.

The main theme of the summit was the problems faced by the countries of the Asia-Pacific region. tasks To overcome the global health and economic challenges caused by the coronavirus pandemic.

The next meeting of APEC Economic Leaders was held via videoconference on 12 November 2021.

On Agenda The day of the summit, chaired by New Zealand, – key areas of work of APEC for the period up to 2040, as well as the post-pandemic recovery problems of the economies of the countries of the region.

APEC Leaders supported the efforts It agreed to actively promote coordination to restore cross-border travel between the countries of the region to create a free trade zone in the region, and also announced their intention to expand countries’ access to digital technologies.

As a result of the summit, the Declaration of the leaders of the economies participating in the Asia-Pacific Economic Cooperation Forum 2021 and the Aotearoan Action Plan were adopted.

The next summit of APEC leaders It will be held on 18-19 November 2022 Headed by Thai Prime Minister Prayut Chan-Ochi.

The material has been prepared based on information from RIA Novosti and open sources.

Source: Ria

Leave a Reply

Your email address will not be published. Required fields are marked *