Definition of Asia-Pacific Economic Cooperation (APEC) forum

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TeachMeFinance.com - explain Asia-Pacific Economic Cooperation (APEC) forum



Asia-Pacific Economic Cooperation (APEC) forum

The term 'Asia-Pacific Economic Cooperation (APEC) forum ' as it applies to the area of agriculture can be defined as ' Established in 1989, APEC is a formal institution with a permanent secretariat located in Singapore. Its original 12 members include Australia, New Zealand, the United States, Canada, Japan, South Korea, Thailand, Malaysia, Indonesia, the Philippines, Singapore, and Brunei. In 1991, APEC admitted China, Taiwan (admitted as Chinese Taipei), and Hong Kong. Mexico and Papua New Guinea joined in 1993; Chile joined in 1994; Peru, Russia, and Vietnam joined in 1998. The 21 nation member APEC provides a forum for ministerial level discussion and cooperation on a range of economic issues including trade, investment, technology transfer, and transportation. According to APEC, a key feature that sets it apart from other international organizations is its commitment to business facilitation and the regular involvement of the private sector in a wide range of APEC activities'.

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Mark McCracken

Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English".


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