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Diplomacy

APEC SINGAPORE 2009: SUSTAINING GROWTH, CONNECTING THE REGION

APEC (Asia Pacific Economic Cooperation) comprises 21 Member Economies.
It represents approximately 54 per cent of world GDP and 44 per cent of world trade. Leaders of APEC Economies meet annually to discuss a range of issues that are focuses on economic growth and prosperity for the region.

At last year's APEC Economic Leaders' Meeting, held on 22–23 November in Lima, Peru, the Leaders agreed to refrain from raising new barriers to trade and investment for a period of 12 months, and committed to work together to do everything possible to restore growth and stability.

APEC 2009 will take place amidst a challenging global economic environment. The key to recovery is governments' ability to create conditions for trade and investment to grow. One of the biggest risks the world faces is that countries might restrict markets in a misguided attempt to protect jobs. Doing so will only prolong the global slowdown.

The 2009 agenda will be three-fold:

  • Strengthening trade and investment liberalisation at-the-border by intensifying work to reduce tariffs and other restrictions to trade and investment flow;
     
  • Improving the ease of doing business by simplifying behind-the-border business regulations;
     
  • Improving logistics and transport networks to reduce the time, cost and uncertainty involved
    in moving goods along the entire supply chain.  
     
Member Economy and Year Joined Area ('000 sq km) Population (million) GDP (US$bn) GDP per capita (US$) Exports (US$m) Imports (US$m)
Australia (1989) 7 692 21,2 911,0 43 010 181 719 196 568
Brunei Darussalam (1989) 6 0,4 12,3 31 879 7 351 2 314
Canada (1989) 9 971 32,9 1 436,1 43 674 483 332 460 981
Chile (1994) 757 16,6 163,9 9 884 74 574 52 661
China (1991) 9 561 1 321,1 3 280,2 2 483 1 340 361 1 086 372
Hong Kong, China (1991) 1 7,0 207,2 29 753 433 227 411 968
Indonesia (1989) 1 905 224,9 432,9 1 925 126 579 98 749
Japan (1989) 378 127,8 4,381,6 34 296 843 246 772 432
Korea, Republic of (1989) 99 48,5 969,9 20 015 434 361 440 062
Malaysia (1989) 330 26,8 186,7 6 956 204 583 175 052
Mexico (1993) 1,958 105,3 1 002,8 9 717 289 694 305 867
New Zealand (1989) 271 4,2 128,7 30 390 36 247 38 145
Papua – New Guinea(1993) 463 6,1 6,0 991 7 755 4 514
Peru (1998) 1 285 28,1 107,4 3 826 31 142 24 764
Philippines (1989) 300 88,6 144,1 1 626 58 133 62 688
Russian Federation (1998) 17 098  142,1  1 289,5  9 075  391 614  250 158 
Singapore (1989) 1 4,6 161,0 35 163 369 146 335 596
Chinese Taipei (1991) 36 23 383,3 16 697 266 021 253 750
Thailand (1989) 513 65,7 245,4 3 732 192 535 190 032
United States (1989) 9 364 302 13 807,6 45 725 1 655 639 2 335 082
Viet Nam (1998) 332 85,6 70,9 829 52 219 69 017

 

 

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