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Asia Pacific Economic Co-operation (APEC) 2017
November 12 , 2017
2616 days
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- Asia Pacific Economic Co-operation (APEC) 2017 summit was recently held in the city of Danang, Vietnam.
- At the summit, Ministers from 11 Asia-Pacific countries have decided to go ahead with the trade deal “Trans-pacific partnership” without the United States.
- APEC is a forum for 21 Pacific Rim member economies that promotes free trade throughout the Asia Pacific region.
- It is headquartered at Singapore and India is not in the grouping.
- It was established due to growing inter dependence among Asia Pacific regions, increasing regional trade blocs, to diffuse growing power of Japan.
- The criterion for membership is that the member is a separate economy, rather than a state and the result of it is the inclusion of Taiwan.
- APEC also includes three official observers: ASEAN, the Pacific Islands Forum and the Pacific Economic Cooperation Council.
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