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APEC SINGAPORE 2009: SUSTAINING GROWTH, CONNECTING THE REGIONAPEC (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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