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APEC in 5 minutes! Briefing of member countries, the process of establishment, business card, etc

APEC” was established to promote economic cooperation in the Pacific Rim region. Since its establishment, the number of participating countries and regions (economy) has been increasing and has shown a wide variety. In this article, we will explain the outline of the member countries and the background of establishment, the participation of Taiwan, the summit held in Japan, and the “APEC Business Travel Card” etc. in an easy-to-understand manner. We introduce apec card info, please see it.

What is APEC? Briefing the outline of member states etc.

The official name is called “Asia-Pacific Economic Cooperation”. The abbreviation that took the initial “APEC”. As its name suggests, it was launched in 1989 as a framework for promoting economic development and regional cooperation in the Asia-Pacific region.

The Permanent Office is set up in Singapore, and once a year the Summit is held, as well as Ministerial Meetings held by Foreign Ministers and Economic Ministers. By the way, the location of the Summit was selected from the participating countries and regions, and the Summit was held in Japan in 1995 and 2010.

APEC does not use the word “country” when referring to participating countries or regions, and is called “economy.” Funding for all activities is borne by all economies. According to the Ministry of Foreign Affairs website, the budget for 2015 is the US $ 5 million, and Japan contributes to the US $ 901,000, or about 18% of them. It is said that it is a contribution economy.

At the time of its establishment in 1989, there were 12 participating countries. The economy has been steadily increasing since then, and as of 2018, 21 countries and regions are participating.

  • America
  • Indonesia
  • Australia
  • Canada
  • Singapore
  • Thailand
  • South Korea
  • Taiwan
  • China
  • Chile
  • Japan
  • new Zealand
  • Papua New Guinea
  • Philippines
  • Brunei
  • Vietnam
  • Peru
  • Hong Kong Special Administrative Region
  • Malaysia
  • Mexico
  • Russian Federation (in alphabetical order)

As you can see in the participating economies, APEC boasts the world’s largest “regionalism” framework, with members added to ASEAN (Association of Southeast Asian Nations) and NAFTA (North American Free Trade Agreement). You

About 60% of the world’s GDP, about 50% of the world’s trade, and about 40% of the world’s population across APEC. As a result, it has become more important, and in recent years it has become a forum for dealing with various themes such as security and environmental issues in addition to economic cooperation.

In fact, APEC is not an official body with legal binding power, but is regarded as an “informal forum.” The reason is that Hong Kong, which is a special administrative district of China, and Taiwan, which has not been approved as a nation by many countries, are participating.

In 1991, China, Hong Kong, and Taiwan were added as new economies. However, since the People’s Republic of China was founded in 1949, the People’s Republic of China and Taiwan have been in conflict over the “two China” issue over which is the legitimate Chinese government.

APEC has set out a policy to eliminate political colors as much as possible in order to involve the People’s Republic of China and Taiwan, which have politically sensitive issues.

For example, the national flag and the anthem are not used in a meeting. Also, by making the summits of the participating countries “informal”, it takes a form that does not touch the question of whether Taiwan is approved as a state. The name “economy” was also given in consideration of participating from other countries.

As a result of these considerations, APEC has realized economic cooperation with diverse regions. Since most other regional organizations are state-oriented, it can be said that APEC has a system of economy.

Process of the establishment of APEC

Japan’s movement is also closely related to the process of establishing APEC.

The United States has long been the most important trading partner for Japan. However, in the late 1980s, when APEC was established, under the influence of the “Plaza Agreement” signed in 1985, we will expand production bases in Southeast Asia to secure cheaper labor.

Backed by these developments, the idea that a new economic cooperation framework should be established in the “Pacific Rim Region”, which encompasses the United States and Southeast Asia, which are important trading partners, has gradually emerged in Japan.

Since 1987, Japan and Australia have been promoting efforts to achieve economic cooperation in the Asia-Pacific region.

And in 1989, Prime Minister Bob Hawk of Australia advocated a ministerial meeting in the Asia-Pacific region. Favorable reactions were also generated from the United States and ASEAN, and Australia’s proposal was expressed at the ASEAN Extended Foreign Ministers Meeting held in the same year. As a result, the first APEC Ministerial Meeting was held in Canberra, Australia.

How does APEC business travel card ‘power’?

True to the name of the Economic Cooperation Forum, the role of enterprises and entrepreneurs is always in the topic discussed at APEC Summits.

In 1996, the APEC Business Summit (CEO Summit) was organized and quickly became the leading and most influential annual forum in the Asia-Pacific business community.

The conference was organized by the APEC Business Advisory Council (ABAC) on the occasion of APEC High-level Week – just before the APEC Economic Leaders’ Meeting, a typical event for the bond between government and the business community. in APEC.

President Tran Dai Quang spoke at the closing session of the 2016 APEC Business Summit in Peru 

Annual APEC Business Summits are often attended by about 1,500 delegates. Among these are many leaders of APEC economies; leading hundreds of corporations in the “Global 500” list is the world’s largest enterprise published by Fortune magazine; and led major international institutions, influential figures as well as journalists from major news agencies around the world as speakers and presenter.

The conference usually lasts about 3 working days, including plenary sessions and thematic discussions.

Here, corporate leaders will talk to APEC Economic Leaders, APEC ministers, and senior officials on topical issues and strategies related to the economic situation, trade, investment and business in the region.

According to the official website of the 2017 APEC Business Summit, US President Donald Trump, leading the world’s leading economy, will attend a session of the conference next to the APEC Summit when coming to Da Nang.

US President Donald Trump will talk to APEC businesses when they come to Da Nang 

40,000 ATBC cards for Vietnam

The APEC Business Travel Card (ABTC) program was launched in 1997 to help APEC entrepreneurs travel more quickly and conveniently between 19 member economies. The remaining two economies are the US and Canada are studying the possibility of future participation.

More than 200,000 ABTCs have been issued to APEC entrepreneurs.

Vietnam joined this program in September 2005. Up to now, nearly 40,000 ABTCs have been issued to Vietnamese entrepreneurs.

Sample of ABTC card of Vietnam 

Individuals with ABTCs are exempt from entry and exit visas, faster procedures at airports when entering 19 economies participating in the program, thereby saving time and travel expenses in the region.

This card is issued by the competent authorities of APEC economies and is valid for 5 years from the date of issue and cannot be extended. When the ABTC card expires, if there is still a need to travel within the APEC block, the businessman can go through the procedure to apply for a new card.

Doors make separate entry procedures for ABTC card holders. Countries always recommend that people with ABTCs use the right purpose as a business

Who can make Vietnam’s ABTC card?

Immigration Department, Ministry of Public Security, is the agency to lead the issuance of ABTC.

Subjects to be considered for ABTC issuance include: (i) Vietnamese entrepreneurs working at state-owned enterprises; (ii) Vietnamese entrepreneurs working at enterprises established under the Enterprise Law, Cooperative Law and Investment Law in Vietnam; (iii) A number of other cases such as leaders of economic sectors, civil servants and public servants are responsible for attending meetings, conferences, seminars and other economic activities of APEC, Head and Deputy Vietnam trade representative agency in member economies participating in ABTC program ..

For detailed information on issuing ABTC, readers can refer to the official website of the Ministry of Public Security of Vietnam.

Don’t be afraid to be small, super small businesses

Micro, small and medium enterprises account for 97% of APEC businesses, contributing 60% of GDP and creating 50% of jobs in member economies. Therefore, supporting businesses is one of APEC’s three main pillars of cooperation.

APEC is not only a playground of big businesses like Facebook but also opens up opportunities for development and support for small and super small businesses.

Vietnamese businesses can fully take advantage of the following programs to promote business investment activities in the region.

– The Boracay Action Program supports micro, small and medium-sized businesses entering the global market 2015 – 2020 (BAA-MSME): Approved at the 2015 APEC Summit in the Philippines, the program identified Clearly identify areas where members need to facilitate businesses to access trade agreements, simplify and reduce rules of origin, streamline customs regulations, and participate in supply chains. , loan procedures, information technology, and e-commerce supporting women-owned businesses …

– APEC Entrepreneurship Cards Program as mentioned above.

– Some business training programs in specific areas, such as safety regulations on temperature sensitive exports (from agricultural products to pharmaceuticals and flowers), the introduction of service technologies New logistics to monitor and ensure the integrity of goods, supply chain financial security …