At the forefront of growth and development in Asia and the Pacific

The Next Steps for APEC: An Assessment and Way Forward

Event | 28 January 2013 ADBI, Tokyo, Japan

Purpose

The aim of the seminar is to provide an assessment of:

  • the APEC economies progress in achieving the Bogor Goals;
  • the role of ABAC in supporting APEC;
  • the prospects of achieving a Free Trade Area in the Asia Pacific (FTAAP).

Background

Established in 1989, APEC has become the pre-eminent economic forum in Asia and the Pacific, the world's fastest growing and most economically dynamic region. APEC's 21 member economies account for 54% of world economic output and 44% of global trade.

Since its inception, APEC has been driven by three core principles:

  • Promoting sustainable economic growth
  • Developing and strengthening the multilateral trading system
  • Increasing the interdependence and economic prosperity of its members.

The Bogor Goals sought to achieve "free and open trade and investment" in the region by 2010 for developing economies and 2020 for developing members.

In 2010 an assessment of the five industrialized economies and eight APEC developing economies that volunteered to be part of this exercise was carried out. While no economy was assessed as having reached the Bogor Goals, the assessment found that significant progress had been made toward the Bogor Goals. However, more work remains to be done to achieve free and open trade and investment in the region.

Beyond the Boger Goals, APEC Leaders have set the FTAAP as a long term objective. An FTAAP will create a free trade zone that willgreatly expand commerce and economic growth in Asia and the Pacific.

The seminar, "The Next Steps for APEC: An Assessment and Way Forward," will provide an assessment of:

  • the APEC economies progress in achieving the Bogor Goals;
  • the role of ABAC in supporting APEC; and
  • the prospects of achieving anFTAAP.

Objectives

The objectives of the seminar are threefold:

  • Present and discuss the results of a study on the progress of the 21 member economies in achieving the Bogor Goals by 2020;
  • Discuss the role of APEC in the new global trading environment and the prospects for achieving FTAAP; and
  • Have a policy dialogue on the role and relevance of APEC.

Outputs

A summary of proceedings.

Participants

Researchers, academics, government officials, diplomats, civil society representatives and students.

Language

English