Explain Australia and APEC.
Share
Lost your password? Please enter your email address. You will receive a link and will create a new password via email.
Please briefly explain why you feel this question should be reported.
Please briefly explain why you feel this answer should be reported.
Please briefly explain why you feel this user should be reported.
Australia is a founding member of the Asia-Pacific Economic Cooperation (APEC), an intergovernmental forum established in 1989 to promote economic cooperation, trade liberalization, and regional integration among its member economies in the Asia-Pacific region. APEC comprises 21 member economies, including major economies such as the United States, China, Japan, and Russia, as well as smaller economies across the Asia-Pacific.
As a member of APEC, Australia actively participates in the forum's activities and initiatives aimed at advancing regional economic cooperation and integration. Key aspects of Australia's engagement with APEC include:
Trade and Investment: APEC aims to facilitate trade and investment liberalization and promote economic growth and development in the Asia-Pacific region. Australia actively supports APEC's efforts to reduce trade barriers, streamline customs procedures, and promote regulatory coherence to enhance market access and facilitate cross-border trade and investment flows.
Regional Economic Integration: APEC serves as a platform for promoting regional economic integration and cooperation among its member economies. Australia supports APEC's agenda to strengthen regional supply chains, promote economic connectivity, and foster closer economic ties among APEC member economies through initiatives such as the APEC Business Travel Card and the APEC Cross-Border Privacy Rules system.
Sustainable Development and Inclusive Growth: APEC prioritizes sustainable development and inclusive growth as key pillars of its agenda. Australia actively contributes to APEC's work on promoting sustainable development, environmental protection, and inclusive economic growth in the Asia-Pacific region through initiatives such as the APEC Environmental Goods and Services Initiative and the APEC Women and the Economy Forum.
Capacity Building and Technical Assistance: APEC provides opportunities for capacity building, technical assistance, and knowledge sharing among its member economies to support their efforts to implement APEC agreements and initiatives. Australia provides expertise, technical assistance, and funding support to help build the capacity of APEC member economies in areas such as trade facilitation, customs modernization, and regulatory reform.
Overall, Australia's engagement with APEC reflects its commitment to promoting economic cooperation, trade liberalization, and regional integration in the Asia-Pacific region. As a key member of APEC, Australia actively contributes to advancing APEC's goals and objectives and works collaboratively with other member economies to address shared challenges and seize opportunities for economic growth and development in the region.