APEC FULL FORM
Full Form of APEC : The full form of APEC is the Asia-Pacific Economic Cooperation
What is the Full form of APEC?
No:1. The full form of APEC is the Asia-Pacific Economic Cooperation.
No:2. It is an international forum that is Asian & Pacific nations for 21 Pacific Rim member economies.
No:3. To facilitate free trade across the Asia-Pacific region, it was developed to exploit the increasing interdependence of the Asia-Pacific region.
No:4. By fostering inclusive, equitable, balanced and secure growth and regional economic integration, the 21 APEC member countries plan to establish economic wealth for themselves.
No:5. The countries that are members of APEC are Canada, Brunei Darussalam, Australia, Chile, Hong Kong, Indonesia, China, Japan, Malaysia, New Zealand, Republic of South Korea, Mexico, Peru, Papua New Guinea, Russia, The Republic of the Philippines, Vietnam, Singapore, Thailand, Chinese Taiwan and the United States of America.
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A brief history of APEC
No:1. In 1989, it was founded. It has its headquarters in Singapore and the Secretariat of APEC is located in Singapore.
No:2. It shall be headed by a fixed-term Executive Director who shall be selected for a three-year term.
No:3. It develops and offers technical & advisory support and information management, communications & public outreach programs.
Main objectives of the APEC
No:1. It guarantees that goods, services, investments and people are easily moved across territories.
No:2. It ensures smoother border customs procedures.
No:3. APEC guarantees a favourable business environment behind bars.
No:4. The norms and practices around the border are coordinate.
No:5. It seeks to strengthen the diplomatic and economic understanding of member nations.
APEC Study Centre Consortium
No:1. In 1993, APEC Leaders decided to establish a network of APEC Study Centres (APCs) among universities and research institutions in member economies.
No:2. The purpose is to foster cooperation among tertiary and research institutes of member economies, thus having better academic collaboration on key regional economic challenges.
No:3. To encourage independence from the APEC conference, the APCs are fund independently and choose their own research topics.
No:4. As of December 2018, there are 70 APCs among the member economies. An annual conference is usually take place in the host economy for that year.
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