Is Apec A Free Trade Agreement

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www.meti.go.jp/policy/trade_policy/epa/english.html At the Meeting of Heads of State and Government held in Shanghai in 2001, APEC leaders insisted on a new round of trade negotiations and support for a trade capacity-building agenda, which led to the adoption of the Doha Development Agenda a few weeks later. The meeting also endorsed the Shanghai Agreement proposed by the United States, which emphasized the implementation of open markets, structural reforms and capacity building. Under the agreement, the meeting committed to develop and implement APEC transparency standards, reduce the cost of doing business in the Asia-Pacific region over a 5% interval over 5 years, and pursue a policy of trade liberalization in information technology goods and services. www.economia.gob.mx/trade-and-investment/foreign-trade/international-trade-negotiations/north-america APEC has long been at the forefront of reform efforts in the area of business facilitation. Between 2002 and 2006, the apec Trade Facilitation Action (TFAPI) plan reduced the cost of trade transactions by 6% across the region. Between 2007 and 2010, APEC hopes to reduce transaction costs by a further 5%. To this end, a new Trade Facilitation Action Plan was approved. According to a 2008 research mandate issued by the World Bank as part of its Trade Costs and Facilitation Project, increasing the transparency of the region`s trading system is essential if APEC is to achieve its Bogor goals. [28] The APEC Business Travel Card, a travel document for visa-free business travel within the region, is one of the concrete measures to facilitate activities. In May 2010, Russia joined the program, closing the circle. [29] Asia-Pacific Economic Cooperation (APEC; /eɪpɛk/AY-pek[1]) is an intergovernmental forum of 21 Pacific member countries that promotes free trade throughout the Asia-Pacific region. [2] Following the success of the ASEAN Post-Ministerial Conference Series launched in the mid-1980s[3], APEC began in 1989[4] in response to the growing interdependence of Asia-Pacific economies and the emergence of regional trading blocs in other parts of the world. The aim was to create new markets for agricultural products and raw materials outside Europe.

[5] APEC, headquartered in Singapore[6], is considered one of the highest-level multilateral blocs and the oldest forum in the Asia-Pacific region[7] and has significant global influence. [8] T92 [10] [11] Since 2005, almost all APEC members have participated in some type of FTA negotiation. . . .