Q : When and why "APEC" was established ?
A : "APEC" was established in 1989 in response to the growing interdependence among Asia-Pacific economies. Its goal is to advance Asia-Pacific economic dynamism and sense of community.
Q : Who are the members of "APEC" and when did they join the "APEC" ?
A : When APEC was established in 1989, there were 12 founding members, namely Australia, Brunei Darussalam, Canada, Indonesia, Japan, Republic of Korea, Malaysia, New Zealand, Republic of the Philippines, Singapore, Thailand and Unites States. In November 1991, APEC accepted three new members, namely People’s Republic of China, Hong Kong (its designation has been changed to Hong Kong, China since 1 July 1997) and Chinese Taipei. In November 1993, APEC accepted Mexico and Papua New Guinea as new members. At the same time, APEC decided that Chile would become a full member in November 1994. In November 1997, APEC Economic Leaders welcomed Peru, Russia and Vietnam as new members of the APEC community effective in 1998. Their formal membership started in November 1998.
Q : Who are the "Observers" of APEC ?
A : There are three observers, namely Association of Southeast Asian Nations (ASEAN) Secretariat, Pacific Economic Cooperation Council (PECC) and Pacific Islands Forum Secretariat (PIF).
Q : What does "Members-designate" mean ?
A : "Members-designate" is the status of Peru, Russia and Vietnam in APEC during the period from January 1998 to November 1998. It is a transitional arrangement to give adequate lead time for these three economies to get acquainted with the APEC affairs. As members-designate, they were invited to attend all the meetings as observers during the transitional period.
Q : What does "EVSL" mean ?
A : "EVSL" means "Early Voluntary Sectoral Liberalization". The concept was presented by the APEC Economic Leaders in 1996 to identify potential sectors where early voluntary liberalization would have a positive impact on trade, investment, and economic growth in the individual APEC economies as well as in the region.
Q : How many sectors are involved in the "EVSL" process ?
A : Fifteen (15) sectors were identified in 1997. They are : environmental goods and services; fish and fish products; toys; forest products; gems and jewellery; medical equipment and instruments; chemicals; energy sector; telecommunications mutual recognition arrangement (MRA); food sector; natural and synthetic rubber; fertilizers; automotive; oilseeds and oilseed products and civil aircraft. The first nine (9) sectors belonged to fast track sectors.
Q : When and where was the Secretariat established ?
A : In September 1992, the 4 th APEC Ministerial Meeting agreed to set up a secretariat as a supporting mechanism and accepted the offer from Singapore to host the Secretariat. The Secretariat was officially established on 12 February, 1993 in Singapore.
Q : What is the composition of the Secretariat staff ?
A : The Secretariat has two-category of staff. The first category is Professional Staff Members (PSMs) which are seconded from the government of member economies. The other is Supportive Staff Members (SSMs) which are openly recruited in Singapore.
Q : How is the APEC decision-making process ?
A : APEC operates by consensus. Members conduct their activities and work programs on the basis of open dialogue with equal respect for the views of all participants.
Q : How does APEC select the Chair ?
A : The APEC Chair rotates annually among APEC members. The APEC Chair is responsible for hosting the annual ministerial meeting of foreign and economic ministers.