APEC Full Form | Full Form of APEC
APEC Full Form - Asia Pacific Economic Co-operation
Asia Pacific Economic Co-operation
- The full form of APEC is that the Asia-Pacific Economic Cooperation. It's a world forum that's Asian & Pacific nations for 21 Pacific Rim member economies.
- To facilitate free trade across the Asia-Pacific region, it had been developed to take advantage of the increasing interdependence of the Asia-Pacific region.
- By fostering inclusive, equitable, balanced and secure growth and regional economic integration, the 21 APEC member countries decide to establish economic wealth for themselves.
- 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, and The Republic of the Philippines, Vietnam, Singapore, Thailand, Chinese Taiwan and therefore the United States of America.
History of APEC
- In 1989, it had been founded. It's its headquarters in Singapore and therefore the Secretariat of APEC is found in Singapore.
- It shall be headed by a fixed-term executive who shall be selected for a three-year term. It develops and offers technical & advisory support and information management, communications & public outreach programs.
Main objectives of the APEC
- It guarantees that goods, services, investments and other people are easily moved across territories.
- It ensures smoother border customs procedures.
- It guarantees a favorable business environment behind bars.
- The norms and practices around the border are coordinated.
- It seeks to strengthen the diplomatic and economic understanding of member nations.