~Background Information~
Asia- Pacific Economic Cooperation
Both Australia and Singapore are a part of Asia Pacific Economic Cooperation (APEC).
This trade relationship aims to encourage the region's economic growth and development.
It aims to create a strong, thriving economy for the Asia-Pacific region.
This trade relationship aims to encourage the region's economic growth and development.
It aims to create a strong, thriving economy for the Asia-Pacific region.
"We are united in our drive to build a dynamic and harmonious Asia-Pacific
community by championing free and open trade and investment, promoting and
accelerating regional economic integration, encouraging economic and technical
cooperation, enhancing human security, and facilitating a favourable and
sustainable business environment. Our initiatives turn policy goals into
concrete results and agreements into tangible benefits."~APEC
This is comprised of three main pillars:
Trade and Investment Liberalisation
Elimination of tariffs and increased trade, to promote economic growth for members and increased standards of living.
Business Facilitation
The reduction of costs of business transactions; improved trade information access; aligning policies and business strategies, to encourage growth ; and free and open trade. This enables trade efficiency and reduces cost.
Economic and Technical Cooperation
Provides training to APEC Member Economies, so they may take advantage of World trade. This builds on the skills necessary to meet economic potential.
Trade and Investment Liberalisation
Elimination of tariffs and increased trade, to promote economic growth for members and increased standards of living.
Business Facilitation
The reduction of costs of business transactions; improved trade information access; aligning policies and business strategies, to encourage growth ; and free and open trade. This enables trade efficiency and reduces cost.
Economic and Technical Cooperation
Provides training to APEC Member Economies, so they may take advantage of World trade. This builds on the skills necessary to meet economic potential.
APEC has 21 member economies:
Australia
Brunei Darussalam
Canada
Chile
Chinese Taipei
Hong Kong, China
Indonesia
Japan
Malaysia
Mexico
New Zealand
Papua New Guinea
Peoples' Republic of China
Peru
Republic of Korea
Singapore
Thailand
The Republic of the Philippines
The Russian Federation
United States of America
Vietnam
Australia
Brunei Darussalam
Canada
Chile
Chinese Taipei
Hong Kong, China
Indonesia
Japan
Malaysia
Mexico
New Zealand
Papua New Guinea
Peoples' Republic of China
Peru
Republic of Korea
Singapore
Thailand
The Republic of the Philippines
The Russian Federation
United States of America
Vietnam
For More Information Visit: http://www.apec.org/