APEC V. OPEC

WHAT IS APEC• AKA: Asia-Pacific Economic Cooperation

• Composed of 21 pacific rim countries

• Promoting free trade and economic cooperation throughout the Asia-Pacific region

• Raise living standards and education in the Asia-Pacific region

MEMBER ECONOMIES• 21 members

• The word 'economies' is used because members are engaging with one another as economic entities

APEC Members Date of Joining

Australia 6-7 Nov 1989

Brunei Darussalam 6-7 Nov 1989

Canada 6-7 Nov 1989

Chile 11-12 Nov 1994

People's Republic of China 12-14 Nov 1991

Hong Kong, China 12-14 Nov 1991

Indonesia 6-7 Nov 1989

Japan 6-7 Nov 1989

Republic of Korea 6-7 Nov 1989

Malaysia 6-7 Nov 1989

Mexico 17-19 Nov 1993

New Zealand 6-7 Nov 1989

Papua New Guinea 17-19 Nov 1993

Peru 14-15 Nov 1998

The Philippines 6-7 Nov 1989

Russia 14-15 Nov 1998

Singapore 6-7 Nov 1989

Chinese Taipei 12-14 Nov 1991

Thailand 6-7 Nov 1989

The United States 6-7 Nov 1989

Viet Nam 14-15 Nov 1998

http://www.apec.org/About-Us/About-APEC/Member-Economies.aspx

APEC’S MISSION STATEMENT

APEC is the premier Asia-Pacific economic forum. Our primary goal is to support sustainable economic growth and prosperity in the Asia-Pacific region.

We are united in our drive to build a dynamic and harmonious Asia-Pacific community by championing free and open trade and investment, promoting and accelerating regional economic integration, encouraging economic and technical cooperation, enhancing human security, and facilitating a favorable and sustainable business environment. Our initiatives turn policy goals into concrete results and agreements into tangible benefits.

http://www.apec.org/About-Us/About-APEC/Mission-Statement.aspx

HISTORY OF APEC• January 1989: Prime Minister of Australia, Mr Bob Hawke,

mentions APEC in Seoul, Korea

• 1989: 12 countries meet in Australia and form APEC

• 1993: APEC's vision outlines, "stability, security and prosperity for our peoples.“

• 1994: APEC sets the Bogor Goals (free and open trade and investments)

• 1995: Osaka Action Agenda adopted (how to impose Bogor Goals)

• 1996:The Manila Action Plan is adopted (trade and investment liberalisation)

• 1997: Proposal for EVSL (liberalization) APEC decides that Individual Action Plans should be updated annually.

• 1998: APEC agrees on the first nine sectors for EVSL and seeks an EVSL agreement with non-APEC members at the World Trade Organization.

HISTORY OF APEC• 1999: Business Travel Card scheme is approved and Framework

for the Integration of Women is endorsed

• 2000: triple Internet access throughout APEC region

• 2001: APEC adopts the Shanghai Accord, an agenda to strengthen market structures and institutions, facilitate infrastructure investment and promote entrepreneurship and human capacity building

• 2002: agenda to strengthen market structures and institutions, facilitate infrastructure investment and technology for on-line transactions and promote entrepreneurship and human capacity building

• 2003: APEC agrees to re-energize the WTO Doha Development Agenda negotiations

• 2004: APEC makes a political commitment to fight corruption and ensure transparency

• 2005: APEC adopts the Busan Roadmap (last step Bogor Goals)

• 2006: APEC takes a strategic approach to reform working groups

HISTORY OF APEC• 2007: APEC Member Economies issue a Declaration on Climate

Change, Energy Security and Clean Development

• 2008: APEC focused on reducing the gap between developing and developed members

• 2009: The first-ever joint meetings of APEC senior trade and finance officials are held to address the economic crisis, Ease of Doing Business Action Plan adopted to make doing business in the region 25 percent cheaper, faster and easier

• 2010:  APEC holds its first-ever APEC Ministerial Meeting on Food Security.

• 2011: Honolulu Declaration adopted, seamless regional economy; addressing shared green growth objectives; and advancing regulatory cooperation

• 2012: Vladivostok Declaration: Trade and Investment Liberalization, Regional Economic Integration; Strengthening Food Security; Establishing Reliable Supply Chains; and Intensive Cooperation to Foster Innovative Growthhttp://www.apec.org/About-Us/About-APEC/History.aspx

APEC 1989• http://

www.youtube.com/watch?v=K7MCZuPCUNo&feature=youtu.be

• http://www.youtube.com/watch?v=aOCX8DoyxYo

ACHIEVEMENTS OF APEC• Trade and investment

liberalisation

• 16.9% to 5.8% trade barriers

• APEC’s total trade increased from $3.1 trillion to $16.8 trillion

• Cost of business transactions across the region was reduced by 10%

• APEC contributes funding to around 100-150 projects each year

http://www.apec.org/About-Us/About-APEC/Achievements-and-Benefits.aspx

THREE PILLARS OF APEC• Trade and Investment Liberalisation

• Reduces and eventually eliminates tariff and non-tariff barriers to trade and investment

• Business Facilitation

• Reduces the costs of business transactions, improving access to trade information and aligning policy and business strategies to facilitate growth, and free and open trade

• Economic and Technical Cooperation

• Provides training and cooperation to build capacities in all APEC Member Economies to take advantage of global trade

http://www.apec.org/About-Us/How-APEC-Operates/Scope-of-Work.aspx

POLICY LEVEL• Policy direction is provided by the 21 APEC Economic Leaders

• APEC Economic Leaders' Meeting: set the policy agenda

• APEC Ministerial Meeting: ministers provide recommendations for APEC Economic Leaders' consideration

• Sectoral Ministerial Meetings: covers areas such as education, energy, environment, finance, human resource development, small and medium enterprises, tourism, trade, transportation and women's affairs

• APEC Business Advisory Council (ABAC):provides a business perspective on APEC issues and gives recommendations to improve the business and investment environment

http://www.apec.org/About-Us/How-APEC-Operates/Policy-Level.aspx

WORKING LEVEL• APEC's working level activities and projects are guided by

APEC Senior Officials

• Senior Officials' Meeting (SOM): Senior Officials guide the activities of the Committees, Working Groups and Task Forces and develop recommendations for Ministers and Leaders

• Committees, Working Groups, SOM Task Groups: work on liberalization and coordination of trade and advises the SOM and budetary

• Working Groups: Working Groups carry out APEC's work in specific sectors

• SOM Special Task Groups/Ad-hoc Groups: identify issues and make recommendations about important areas or fulfill other tasks other groups do not accomplish

http://www.apec.org/About-Us/How-APEC-Operates/Working-Level.aspx

POLICY AND WORKING LEVEL

WHAT IS OPEC• AKA: Organization of the Petroleum Exporting Countries

• Composed of 12 countries

• It is to coordinate the policies of the oil-producing countries

• The goal is to secure a steady income to the member states and to secure supply of oil to the consumers

MEMBER COUNTRIES• 12 countries

• Islamic Republic of Iran, Iraq, Kuwait, Saudi Arabia and Venezuela were the founders of OPEC

• Later on 9 other countries join

http://www.opec.org/opec_web/en/about_us/25.htm

OPEC’S MISSION STATEMENT

The mission of the Organization of the Petroleum Exporting Countries (OPEC) is to coordinate and unify the petroleum policies of its Member Countries and ensure the stabilization of oil markets in order to secure an efficient, economic and regular supply of petroleum to consumers, a steady income to producers and a fair return on capital for those investing in the petroleum industry.

http://www.opec.org/opec_web/en/about_us/23.htm

HISTORY OF OPEC• September 10-14, 1960: created at the Baghdad Conference

by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela

• 1960s: OPEC was formed during a time of massive decolonization and birth of many new independent states. It adopted a ‘Declaratory Statement of Petroleum Policy in Member Countries’ in 1968 (right of all countries to exercise permanent sovereignty over their natural resources in the interest of their national development)

• 1970s: Arab oil embargo in 1973 and the outbreak of the Iranian Revolution in 1979 caused oil prices to rise steeply. Establishment of the OPEC Fund for International Development in 1976which embarked on ambitious socio-economic development schemes

HISTORY OF OPEC1980s: oil crashed in 1986 and OPEC’s total petroleum revenue dropped below a third of earlier peaks. OPEC introduced a group production ceiling and a Reference Basket for pricing. Environmental issues emerged on the international energy agenda

1990s: OPEC action reduced the market impact of Middle East hostilities in 1990–91. in 1998-99 prices went back down as low as 1986’s crash but came back up. As UN sponsored climate change negotiations, OPEC lost one member while the other is just suspended

2000s: An oil price band mechanism helped strengthen and stabilize crude prices. Prices soared to record levels in mid-2008 and then collapsed in the financial turmoil. Later on established stable energy markets, sustainable development and the environment as three guiding themes

http://www.opec.org/opec_web/en/about_us/24.htm

OPEC 50 YEARS LATER

http://www.youtube.com/watch?v=67xnH4xjZyQ

http://www.youtube.com/watch?v=hyZEs2VwOzU

ARTICLES

APEC:http://online.wsj.com/article/SB10001424127887323551004578436533893457330.html

OPEC: http://www.reuters.com/article/2013/09/10/us-opec-oil-idUSBRE9890MQ20130910

THANK YOU

Enjoy!!!

http://www.youtube.com/watch?v=SHU4v0Odkdw