Intergovernmental Organizations (IGOs)

INTERGOVERNMENTAL ORGANIZATIONS ( IGOs )

APEC

ASIA-PACIFIC ECONOMIC COOPERATION

Sonia Arabella Garza Flores, Gabriela A. Cantú T. Sofía Camblor Villagómez, Evelyn Aleman

CREATION -

Asian Pacific Economic Cooperation or APEC, was established in 1989 in Australia as an informal forum where member nations could talk about free trade and economic cooperation between the countries of the Pacific Rim. This organization was like others created in the post-Cold War era. Which was marked by increasing the globalization and growth of trading blocs. APEC was cfounded after the creationf of the NAFTA and WTO, who were characterized by sharing economic goals and methods, but didn’t bind any agreements, making each state work on its own. The countries that are bordering the Pacific Ocean have different, cultures, linguistic and ethnic backgrounds, but they have in common a rapidly economic power development and economic interests, which make it easy to discuss the creation of a regional organization that could have a free trade between that countries and an economic integration that could benefit the entire region.

FUNCTIONS

- Free trade and investment. - Facilitation of trade and investment and economic and technical cooperation.

ACTIVITIES -

Among the main objectives that Apec seeks to achieve are: To promote economic growth in the Asia-Pacific region, as well as the development of these countries, in order to contribute to the common well-being of their citizens and thereby help the growth and improvement of the world economy. Strengthen profit and gain regionally and internationally. Through the free flow of services and goods; also through interdependence and collaboration in technology and capital goods. To strengthen the free trade conditions in a multilateral manner, in order to make real use of the conditions of the comparative advantages of all the economies of which it is composed and which can benefit from this integration. Achieve the reduction and elimination of barriers and all kinds of obstacles to the activity of international trade and the flow of investment capital among all the countries involved in the organization of Apec.

MEMBERS -

So it is currently made up of 21 countries, which are: Australia, Brunei, Canada, Chile, China, Hong Kong, Indonesia, Japan, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, the Russian Federation, Singapore, South Korea, Taiwan, Thailand, United States, Vietnam. Between 1991 and 1998 the countries of Hong Kong and Taiwan entered into the pact, before they were 19 countries, but with Hong Kong and Taiwan, 21 countries are inside in total. Since then, over the years, no country has been suspended. The recognition of the 21 economies took place in 2010, the accession of new members was no longer considered.

RELEVANCE -

It has become a big dynamic of economic growth and one of the most important regional forums in the Asia-Pacific region. All of this has brought the region a lot closer together which made the trade barriers reduce, and it smoother our differences in the regulations which boasted trade which in return led to a big increase of prosperity. The APEC implemented a wide variety of initiatives that helped the region’s economies to integrate and promote trade while addressing sustainability and social equity.

REFERENCES -

Achievements and Benefits. (n.d.). APEC. Retrieved September 20, 2021, from https://www.apec.org/about-us/about-apec/achievements-and-benefits Milestones: 1989–1992 - Office of the Historian. (2020). State.gov. https://history.state.gov/milestones/1989-1992/apec Proyects. (s. f.). Default. Recuperado 21 de septiembre de 2021, de https://www.subrei.gob.cl/en/organismos-multilaterales/apec-foro-de-cooperacion-economica-de-asia-pacifico/proyects