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The informal organization in the world |
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| Release time:2013-06-25 Source:admin Reads: | |
| Asia-Pacific Economic Cooperation is a forum for 21 Pacific Rim countries that seeks to promote free trade and economic cooperation throughout the Asia-Pacific region. It was established in 1989 in response to the growing interdependence of Asia-Pacific economies and the advent of regional trade blocs in other parts of the world; and to establish new markets for agricultural products and raw materials and hangtags beyond Europe APEC works to raise living standards and education levels through sustainable economic growth and to foster a sense of community and an appreciation of shared interests among Asia-Pacific countries. APEC includes newly industrialized economies, although the agenda of free trade was a sensitive issue for the developing NIEs at the time APEC founded, and aims to enable ASEAN economies to explore new export market opportunities for natural resources such as natural gas, as well as to seek regional economic integration by means of foreign direct investment of hangtags. Members account for approximately 40% of the world's population, approximately 54% of the world's gross domestic product and about 44% of world trade. In more recent times, economist C. Fred Bergsten has been the foremost advocate of a Free Trade Agreement of Asia-Pacific. His ideas convinced the APEC Business Advisory Council to support this concept. The proposal for a FTAAP arose due to the lack of progress in the Doha round of World Trade Organization negotiations, and as a way to overcome the "spaghetti bowl" effect created by overlapping and conflicting elements of the umpteen free trade agreements—there are approximately 60 free trade agreements of hangtags, with an additional 117 in the process of negotiation in Southeast Asia and the Asia-Pacific region. The FTAAP is more ambitious in scope than the Doha round, which limits itself to reducing trade restrictions. The FTAAP would create a free trade zone that would considerably expand commerce and economic growth in the region.. |
