Our group chose APEC since it was not much discussed in class. Asia-Pacific Economic Cooperation or APEC is a forum to facilitate economic growth, cooperation, trade and investment in the Asia-Pacific Region. It has 21 member economies which some of it are Philippines, Australia, China, Singapore, New Zealand. APEC’s purpose and goals are to further enhance the economic growth and prosperity within the region and to strengthen the community of Asia-Pacific. It is working to reduce the trade barriers specifically tariffs across the region, and to increase exports by creating efficient domestic economies, also to create jobs and greater opportunity for trade and investments. Moreover, it works through cooperation that the region will be an environment where there is safe and efficient flow of goods, services and people. As a smaller international organization, APEC is seen by its member states to be much easier to work with. Also, APEC has no treaty obligations required of its participants. Decisions made within APEC are reached by consensus and commitments are undertaken on a voluntary basis.
http://www.apec.org/apec/about_apec.html
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