What is the Full form of APEC?
The APEC full form is the Asia-Pacific Economic Cooperation. It is the Asian & Pacific nations conference for the 21 member economies of the Pacific Rim. In response to the rising interdependence of the Asia-Pacific area, it was designed to allow free commerce throughout the region.
Read Other Full Forms
By promoting inclusive, egalitarian, balanced, and secure growth, as well as regional economic integration, the 21 APEC member states intend to increase economic profitability. Canada, Brunei Darussalam, Australia, Chile, Hong Kong, Indonesia, China, Japan, Malaysia, New Zealand, the Republic of South Korea, Mexico, Peru, Papua New Guinea, Russia, The Republic of the Philippines, Vietnam, Singapore, Thailand, and the United States of America are APEC members.
A brief history of APEC
In 1989, it was established. The organization’s headquarters and the APEC Secretariat are located in Singapore.
It will be led by an Executive Director appointed for a three-year term on a fixed-term basis. It creates and offers programs for technical and advisory support, information management, communications, and public engagement.
Main objectives of the APEC
- It ensures the mobility of commodities, services, investments, and people across borders.
- It facilitates border customs procedures.
- It ensures a profitable business climate inside bars.
- Coordinated norms and practices exist at the border.
- It strives to improve diplomatic and economic relations between member nations.
