HISTORY: What is the APEC and why was it established?
Summary
TLDRThe Philippines will host the APEC summit this year, with Metro Manila as the venue for the high-profile event, expected to draw 10,000 delegates. APEC, founded in 1989 by 12 Asia-Pacific economies, aims to enhance economic conditions through trade liberalization, cooperation, and investment opportunities. Since its inception, more countries have joined, bringing membership to 21 economies. The 1996 Subic summit in the Philippines was a milestone, adopting the Manila Action Plan for APEC, which focuses on free trade, investments, and addressing regional priorities like climate change and counterterrorism.
Takeaways
- 🌏 The Philippines is hosting this year's APEC summit in Metro Manila, with an expected 10,000 delegates.
- 📅 APEC was first publicly proposed by former Australian Prime Minister Bob Hawke in 1989 during a speech in Seoul, South Korea.
- 🌐 The founding members of APEC include Australia, Brunei Darussalam, Canada, Indonesia, Japan, South Korea, Malaysia, New Zealand, the Philippines, Singapore, and the USA.
- 🇨🇳 China, Hong Kong, and Taiwan joined APEC in 1991, followed by Mexico, Papua New Guinea in 1993, and Chile in 1994.
- 🌟 The primary purpose of APEC is to enhance the economic conditions of member economies through trade liberalization, cooperation, and investment opportunities in the Asia-Pacific region.
- 🤝 In 1993, APEC leaders met for the first time in Washington and outlined the vision of stability, security, and prosperity for their people.
- 🏛️ The Bogor Goals, established in 1994, aim for free trade and open investment in the Asia-Pacific region.
- 📝 The Osaka Action Agenda, formulated in 1995, provides a framework to achieve the Bogor Goals through trade liberalization, business facilitation, and economic cooperation.
- 🇵🇭 The Philippines hosted the APEC meetings for the first time in 1996, with the world leaders' meeting held in Subic Bay, Zambales.
- 📊 The Manila Action Plan for APEC (MAPA) was adopted during the 1996 summit, outlining how economies will achieve free trade and investment goals, with attention also given to issues like counterterrorism and climate change.
Q & A
What is APEC and why was it established?
-APEC, or the Asia-Pacific Economic Cooperation, was established as a forum to enhance economic conditions in the Asia-Pacific region. Its main objectives include trade liberalization, investment promotion, and economic cooperation among member economies.
When and where was the APEC first proposed?
-The idea for APEC was first proposed by former Australian Prime Minister Bob Hawke during a speech in Seoul, South Korea, on January 31, 1989.
Who were the founding members of APEC?
-The founding members of APEC were Australia, Brunei Darussalam, Canada, Indonesia, Japan, the Republic of Korea, Malaysia, New Zealand, the Philippines, Singapore, and the United States of America.
Which countries joined APEC after its establishment?
-China, Hong Kong, and Chinese Taipei (Taiwan) joined in 1991, followed by Mexico and Papua New Guinea in 1993, Chile in 1994, and Peru, Russia, and Vietnam in 1998.
What was the significance of the 1993 APEC meeting?
-In 1993, APEC economic leaders met for the first time in Blake Island, Washington, and outlined APEC's vision of stability, security, and prosperity for the region. Former U.S. President Bill Clinton proposed the practice of annual APEC Economic Leaders’ Meetings.
What are the Bogor Goals, and when were they created?
-The Bogor Goals, established during the 1994 APEC meetings in Bogor, Indonesia, focus on achieving free and open trade and investment in the Asia-Pacific region.
What is the Osaka Action Agenda, and why is it important?
-The Osaka Action Agenda, formulated during the 1995 APEC meetings in Osaka, Japan, provides a framework for achieving the Bogor Goals. It outlines specific actions for trade and investment liberalization, business facilitation, and economic cooperation.
What are the three pillars of APEC, and how do they contribute to its overall goal?
-The three pillars of APEC are trade and investment liberalization, business facilitation, and economic and technical cooperation. These pillars guide the organization in promoting free trade, improving business environments, and fostering cooperation among member economies.
What was the significance of the 1996 APEC meeting in the Philippines?
-The 1996 APEC summit in Subic Bay, Philippines, was a milestone in APEC's development. The Manila Action Plan for APEC (MAPA) was adopted, outlining collective and individual action plans for achieving free trade and investment goals.
What other regional priorities has APEC included in its agenda beyond free trade?
-APEC has also addressed other regional priorities such as counterterrorism, climate change, emergency preparedness, and responding to global financial crises.
Outlines
🌏 APEC Summit in the Philippines
This paragraph introduces the Philippines as the host of the APEC (Asia-Pacific Economic Cooperation) summit, highlighting its significance as a high-profile event with 10,000 expected delegates. It mentions the previous venues for the meetings and emphasizes that the 2024 summit will take place in Metro Manila. The focus of this section is on the scale and importance of the event.
📅 The Origins of APEC
The origins of APEC are traced to a speech by Australia's former Prime Minister Bob Hawke in 1989, during which the idea was first presented. It explains the first meeting of 12 Asia-Pacific economies later that year in Canberra, Australia, which marked the formal establishment of APEC. Founding members included Australia, Brunei, Canada, Indonesia, Japan, South Korea, Malaysia, New Zealand, the Philippines, Singapore, the USA, and others. The paragraph provides a timeline of subsequent members joining, concluding with Peru, Russia, and Vietnam in 1998.
💡 The Purpose and Vision of APEC
This section explains the purpose behind APEC's establishment: to enhance economic conditions through trade liberalization, cooperation, and investment opportunities in the Asia-Pacific region. It recounts key historical moments, such as the first APEC Economic Leaders' meeting in 1993, hosted by former U.S. President Bill Clinton on Blake Island. The long-term vision of the organization—focused on stability, security, and prosperity—is highlighted.
🎯 APEC's Goals and Frameworks
The paragraph outlines key milestones for APEC, such as the creation of the 'Bogor Goals' in 1994, which aim for free and open trade and investments in the Asia-Pacific region. It introduces the 'Osaka Action Agenda' from 1995, which provided a roadmap for achieving these goals, focusing on three main pillars: trade and investment liberalization, business facilitation, and economic and technical cooperation.
📜 The 1996 APEC Summit in the Philippines
In 1996, the Philippines hosted its first APEC summit, held in Subic Bay, Zambales. The event was notable for being attended by several world leaders, including U.S. President Bill Clinton and Chinese President Jiang Zemin. The Subic summit marked a major milestone in APEC's history, as the Manila Action Plan for APEC (MAPA) was adopted. This plan included collective and individual actions to achieve the organization's free trade and investment goals.
🌍 APEC's Broader Agenda
This final section highlights that APEC has expanded its focus beyond trade and investments. The organization has also addressed other pressing issues in the region, such as counterterrorism, climate change, emergency preparedness, and responses to global financial crises, showing its adaptability to evolving global challenges.
Mindmap
Keywords
💡APEC
💡Bogor Goals
💡Osaka Action Agenda
💡Manila Action Plan for APEC (MAPA)
💡Trade and Investment Liberalization
💡Economic and Technical Cooperation
💡Subic Summit
💡APEC Economic Leaders' Meeting
💡APEC's Three Pillars
💡Clark, Tagaytay, Laoag, Boracay
Highlights
The Philippines will host this year's Asia-Pacific Economic Cooperation (APEC) summit in Metro Manila, with about 10,000 delegates expected to attend.
Past APEC meetings were held in venues such as Clark, Tagaytay, Laoag, and Boracay.
APEC was first publicly proposed by Australian Prime Minister Bob Hawke in 1989 during a speech in Seoul, South Korea.
In November 1989, twelve Asia-Pacific economies met in Canberra, Australia to establish APEC.
The founding members of APEC include Australia, Brunei, Canada, Indonesia, Japan, South Korea, Malaysia, New Zealand, the Philippines, Singapore, and the USA.
China, Hong Kong, and Taiwan joined APEC in 1991, followed by Mexico and Papua New Guinea in 1993, and Chile in 1994.
Peru, Russia, and Vietnam became the latest economies to join APEC in 1998.
APEC’s primary purpose is to enhance economic conditions in the Asia-Pacific region through trade liberalization and cooperation.
In 1993, APEC economic leaders met for the first time on Blake Island, Washington, where they outlined APEC's vision of stability, security, and prosperity.
In 1994, the Bogor Goals were created during the APEC meetings in Indonesia, aiming for free and open trade and investments in the Asia-Pacific region.
The Osaka Action Agenda, formulated in 1995, provides a roadmap for achieving the Bogor Goals.
APEC has three guiding pillars: trade and investment liberalization, business facilitation, and economic and technical cooperation.
The Philippines first hosted the APEC meetings in 1996, with Subic Bay as the venue for the World Leaders' meeting.
During the 1996 Subic summit, the Manila Action Plan for APEC (MAPA) was adopted, outlining how economies would achieve free trade and investment goals.
APEC has expanded its agenda to include pressing regional priorities such as counterterrorism, climate change, and emergency preparedness.
Transcripts
the Philippines host this year's
asia-pacific Economic Cooperation or
APEC summit the past meetings were held
in host venues such as clark Tagaytay
Laoag Boracay in lieu in lo and behold
this November the high-profile meeting
of the APEC the world leaders summit
will be held in Metro Manila where about
10,000 delegates are expected to attend
but what exactly is the APEC and how did
it come about
yeah Adama tell us why the idea of the
asia-pacific Economic Cooperation or
APEC was first publicly broached by
former Prime Minister of Australia Bob
Hawke during a speech in Seoul South
Korea on January 31 1989 ten months
later twelve asia-pacific economies met
in Canberra Australia to establish the
APEC the founding members were Australia
Brunei Darussalam Canada Indonesia Japan
the Republic of Korea now the Republic
of South Korea Malaysia New Zealand the
Republic of the Philippines Singapore
and the United States of America the
People's Republic of China Hong Kong and
Chinese Taipei and now Taiwan joined in
1991 followed by Mexico and Papua New
Guinea in 1993 and Chile in 1994 Peru
Russia and Vietnam were the latest
economies to join the organization in
1998 the primary purpose behind the apex
establishment is the desire to have a
forum that caters to the enhancement of
economic conditions of countries this
would entail the facilitation of it
trade liberalization promotion of
cooperation among members and the
creation of opportunities for
investments in the asia-pacific region
between 1989 and 1992 member economies
met in informal ministerial level
dialogues in 1993 APEC economic leaders
met for the first time on Blake island
Washington and outlined the apex vision
stability security and prosperity for
our people former United States
President Bill Clinton proposed the
practice of an annual APEC economic
leaders meeting to provide greater
satiric mission direction and
cooperation in the region in 1994 member
economies created the bogger goals
during the APEC meetings held in Bogor
Indonesia this translated to the apex
main goal of free trade and open trade
and investments in the asia-pacific in
1995 the organization formulated a
satiric roadmap the Osaka action agenda
during the APEC meetings in Osaka Japan
the Osaka action agenda provides a
framework for meeting the bogger goals
moreover during the same year member
economies developed the three pillars
which served as a guiding instrument in
attaining the apex overall goal the
three pillars our trade and investment
liberalization business facilitation and
sexual activities and economic and
technical cooperation in 1996 the
Philippines shared and hosted the APEC
meetings for the first time the
administration of then Philippine
President Fidel Ramos chose Subic Bay
zambales as the venue of the apex most
high-profile meeting the world leaders
meeting from November 24 to 25 it was
attended by world leaders such as US
President Bill Clinton Chinese president
Jiang Zemin Australian Prime Minister
John Howard brunei sultan hassan al
Bolkiah
and Malaysian Prime Minister Mahathir
Mohamad the Subic summit in 1996 was a
crucial milestone in the evolution of
the APEC that year the Manila action
plan for APEC or mapa was adopted the
first collective action plans and
individual action plans
outlining how economies will achieve the
free trade and investment goals were
also compiled a chief goal of the Subic
summit was to approve and implement the
ia piece and C ApS playback has not only
focused its attention on concerns
relating to free trade and investments
but is also included in its agenda
pressing our regional priorities such as
counterterrorism climate change
emergency preparedness and global
financial crisis Janka dhaba recording
rewinding
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