You are here: Home» Economic Issues» World

Milestones of 20-year-old APEC

Adjust font size:

1999 - Auckland, New Zealand

The APEC committed to paperless trading by 2005 in developed economies and 2010 in developing economies.

1998 - Kuala Lumpur, Malaysia

The APEC agreed on the first nine sectors for Early Voluntary Sectoral Liberalization (EVSL).

1997 - Vancouver, Canada

The APEC endorsed a proposal for EVSL in 15 sectors and decided that Individual Action Plans should be updated annually.

1996 - Manila, the Philippines

The Manila Action Plan for APEC (MAPA) was adopted, outlining the trade and investment liberalization and facilitation measures to reach the Bogor Goals.

1995 - Osaka, Japan

The APEC adopted the Osaka Action Agenda (OAA) which provides a framework for meeting the Bogor Goals through trade and investment liberalization, business facilitation and sectoral activities.

1994 - Bogor, Indonesia

The APEC set the Bogor Goals of, "free and open trade and investment in the Asia-Pacific by 2010 for developed economies and2020 for developing economies."

1993 - Seattle, United States

APEC Economic Leaders met for the first time and outlined APEC's vision, "stability, security and prosperity for our peoples."

1992 - Bangkok, Thailand

The APEC decided to establish the APEC Secretariat based in Singapore as a support mechanism to facilitate and coordinate APEC activities, provide logistical and technical services as well as administer APEC financial affairs.

1991 - Seoul, South Korea

The Seoul Declaration set forth a commitment among APEC ministers to meet annually and hold informal discussions to strengthen and reaffirm the agreed objectives. China became a member of the APEC.

1990 - Singapore

The APEC reaffirmed the importance of trade and investment liberalization to each economy.

1989 - Canberra, Australia

The APEC began as an informal ministerial-level dialogue group with 12 members.

(Xinhua News Agency November 11, 2009)

     1   2