Preview

The Pros of Apec

Satisfactory Essays
Open Document
Open Document
386 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
The Pros of Apec
APEC allows a forum to discuss issues that arises among members countries. For example during conflict regarding Spratly Island, APEC has become a forum to discuss about the issue and not only focusing on economic matters. Free flow of labors also being discussed in APEC, to ensure the labor is sufficient among members country thus making the development process maintain at the optimum level. For example, if Vietnam reporting that they are shortage of workforce, APEC will discuss the matter with other members if they can help to contribute some of their local workforce to work in Vietnam. In return, Vietnam shall take advantage by using the workforce to their optimum level but still not neglect their duties towards the labors (wages, allowance, shelter, etc).
APEC also helps in business facilitation. If a member country is insufficient of some services or supplies, other member countries should willing to help as they are from the same regional cooperation area. For example, if New Zealand do not have the specialities needed in manufacturing their very own national car, they can borrow some specialist and experts from members who have produce their own car such as Malaysia. Malaysia will sent their skillful technician and workers to assist New Zealand from designing, manufacturing, and needed services. By obeying to the “give and take” rule, New Zealand can offer Malaysia some advantages such as reduced tax for New Zealand’s product that was exported to Malaysia, increase quota for new labor from Malaysia, or even inviting Malaysia’s best students to further their studies in New Zealand and give them New Zealand’s scholarship.

APEC allows Asian countries to dialogue with economic power houses such as Japan and USA. This will ensure poor member countries will benefit from new technology and can adapt their country to build more development projects. For example, less developed member’s country such as Vietnam can adapt some of Japan’s technology to modernize

You May Also Find These Documents Helpful

  • Better Essays

    Eco Final Exam Paper

    • 1575 Words
    • 7 Pages

    International trade is experienced between countries in which they share in trading goods and services. By trading amongst countries, we all can experience goods and services that are not native to one another countries. In addition, trading is done to generate revenue for ones country. Trading also contributes to ones economy by increasing employment. If a country is exporting a lot of goods in a given period of time then this would create employment within the economy because the country would need an extensive workforce to support the export of these goods. I will discuss further the benefits and obstacles a country faces when they are involved in the international trade organization.…

    • 1575 Words
    • 7 Pages
    Better Essays
  • Powerful Essays

    In order to promote trade APEC met regularly to discuss ways in which trade could meet the expectations of the public. They achieved this through consulting ‘business and community groups and made publicly available a considerable amount of information about the Government's trade policy agenda’[vi]…

    • 806 Words
    • 4 Pages
    Powerful Essays
  • Good Essays

    Integrating regions into a trading bloc can have some positive and influential aspects for the countries within that trading bloc. Free trade within these nations can helps secure stability within the economies, generate more product at a cheaper rate then without the integration, and assist with creating peace between the nations with peaceful conflict resolutions. The Association of the Southeast Asian Nations has created such a trading block between 10 nations over three decades ago which has been helping to build and sustain the economy of these nations in Southeast Asia.…

    • 772 Words
    • 4 Pages
    Good Essays
  • Powerful Essays

    Political And Legal System

    • 2897 Words
    • 23 Pages

    ■ Such organizations help facilitate free and fair trade by providing administrative guidance, governing frameworks, and, occasionally, financial support. Regional Economic Blocs Regional trade organizations, such as the European Union (EU), the North American Free Trade Agreement (NAFTA), and the Association of Southeast Asian Nations (ASEAN), aim to advance the economic and political interests of their members. The EU organization is especially well developed, with its own executive, legislative, and bureaucratic bodies. 22…

    • 2897 Words
    • 23 Pages
    Powerful Essays
  • Good Essays

    The global economy is becoming more integrated than ever before. The world trade organization (WTO), now has 153 countries involved in more than 95 percent of the world’s trade. The global economy is dominated by countries in three regions: Western Europe, North America, and Asia. Europe is economically to form he biggest market in the world. Under the Maastricht Treaty, which formally established the European Union (EU), the euro was adopted as a common currency among European countries with the goal to strengthen Europe’s position as an economic superpower in the world. Among the Pacific Rim countries, Japan dominated world attention toward the end of the last century and with the world’s largest population and increasing industrialization, China is on its way to becoming the larges producer and consumer of the world’s goods. Asian countries have joined the United States, Australia, and Russia to form the Asia-Pacific Economic Cooperation (APEC) trade Group. Association of Southeast Asian Nations (ASEAN) brings together 10 developing nations and is aimed at cultural development and political security. The North American Trade Agreement (NAFTA) combined the economies of the United States, Canada and Mexico into one of the world’s largest trading bloc. And, as for the rest of the world with all the important developments, markets and competitors shaping the global environment, India for example with the fast growing economy and huge population has become the world’s second largest online support, software developer and other services.…

    • 513 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    2. INTRODUCTION Free trade agreements (FTA) help exporters and investors by liberalising and facilitating the export of goods, services and investments in between the countries who have signed the agreement. They do so by removing tariffs reducing the transaction costs and import quotas as well as putting in place structure to help exporters and promotion cooperation. They work again protectionism. New Zealand has a long history of FTAs. One of the latest one put in place is the AANZFTA. In this report we will look at the key element this FTA supports. We will then look at the advantages and disadvantages it brings to New Zealand and to what measure it can help the value of NZ’s export and overseas earnings. We will finish by looking at the place of FTAs such as the AANZFTA among the WTO and the Doha round. 3. THE AANZFTA Due to its small size, New Zealand has some real advantages in negotiating free trade agreements with countries it exports to and import from. New Zealand has a long history of free trade agreements with the first one ever signed with Australia in 1983. The region of South East Asia is the closest to New Zealand after the region of the Pacific and it made sense for New Zealand and Australia to develop their partnership with the ASEAN countries. The AANZFTA agreement includes New Zealand, Australia as well as the ASEAN countries listed below. ASEAN: Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, The Philippines, Singapore, Thailand, Vietnam. “The overriding objective of the FTA is to open up economic opportunities for New Zealand business in the ASEAN region and to…

    • 3844 Words
    • 16 Pages
    Satisfactory Essays
  • Good Essays

    and open trade for the region by 2010. APEC is moving towards this goal through…

    • 666 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Trading Bloc

    • 801 Words
    • 4 Pages

    Since trade is not an isolated activity, member states within regional blocks also cooperate in economic, political,…

    • 801 Words
    • 4 Pages
    Good Essays
  • Better Essays

    ASEAN and APEC are two organisations that are involved with the aid, stability and economic growth of all countries associated with them. ASEAN stands for Association of Southeast Asian Nations and includes countries such as Thailand, Indonesia, Malaysia, Philippines, Singapore and Thailand along of course with Australia. APEC is the Asia-Pacific Economic Corporation and they focus on working to reduce tariffs and other trade barriers across the Asia-Pacific region, creating efficient domestic economies and dramatically increasing exports. The two demographics that I have chosen to compare are Burma and China. Burma and China both come from either ASEAN or APEC and I am going to compare the two on aid, defence, migration and trade.…

    • 1936 Words
    • 8 Pages
    Better Essays
  • Good Essays

    In recent years the President of Ecuador Econ. Rafael Correa expressed his desire to become a member of this economic bloc, but what does it mean to Ecuador to join to this organization? This economic bloc offers attractive proposals for countries; among them is the establishment of a common external tariff, plus the free movement of goods and services between the member countries. For a developing country like Ecuador, it is difficult to make the decision of belonging to an economic bloc, as it must evaluate the economic factors that affect and the conditions under which it should enter to the block in order to benefit and expand its trade relations.…

    • 1221 Words
    • 5 Pages
    Good Essays
  • Powerful Essays

    The African Continent has not escaped the proliferation of regional trade agreements in the existing global trade regime. The formation of RTAs in Africa has mainly been championed by what are commonly known as Regional Economic Communities (RECs) as the continent moves towards the formation of the African Economic Community (AEC) that was established by the Abuja Treaty of 1991. Almost all the RECs have RTAs in the form of free trade. To date, COMESA has already launched its own customs union and ECOWAS is preparing to do the same. ECCAS and SADC each have their respective free trade areas and both are planning to launch their customs unions. Although the CEN-SAD is currently at the stage of a free trade zone it has not yet elaborated a distinct road map to strengthen integration amongst its Member States. The EAC has also reached the stage of a customs union which was launched in January 2005. Zimbabwe in particular has joined several of these trade agreements and among them are some Free Trade Areas (FTAs). At the moment there are negotiations which if are successful may see Zimbabwe joining the Southern African Customs Union (SACU).…

    • 4534 Words
    • 19 Pages
    Powerful Essays
  • Satisfactory Essays

    Seminars offer students opportunity to discuss and explore relevant concepts of international trade theory and practice. Consequently, seminars provide interactive forum for discussion with regard to the issues presented at the lectures. As such, the students are expected to be prepared to engage actively in the debate.…

    • 393 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    Zongshen Case

    • 6108 Words
    • 37 Pages

    Synthesis Strategic Intellectual Asset Management for Emerging Enterprises Capacity Building for Successful Entry To the Global Supply Chain Prepared by Buenaventura Canto Professor Asian Institute of Management (AIM) and Etsu Inaba Director Human Resource Development Department Institute for International Studies and Training (IIST) 2 Synthesis Background Strong intellectual property rights (IPR) protection and enforcement are recognized as important conditions for trade and investment liberalization and economic growth. APEC has endorsed new Model Guidelines under the APEC Anti-Counterfeiting and Piracy Initiative to inform citizens of the importance of IPR protection and enforcement, and to secure supply chains against counterfeit and pirated goods. Most of these efforts so far have been concentrated on public sector enforcement, in addition to some awareness raising campaigns targeting the consumers.…

    • 6108 Words
    • 37 Pages
    Powerful Essays
  • Good Essays

    Ecowas

    • 449 Words
    • 2 Pages

    As part of efforts to achieve the goal of economic integration, the commission has set up the ECOWAS Secretariat and the Fund for Cooperation, Compensation and Development as the two main institutions to implement policies. However, the commission faces a number of challenges in its pursuit towards creating a single large trading bloc. Some of these challenges are outlined below,…

    • 449 Words
    • 2 Pages
    Good Essays
  • Powerful Essays

    Lecture Notes on Imf

    • 7914 Words
    • 32 Pages

    4. To assist in the establishment of a multilateral system of payments with respect to current transactions between members and in the elimination of foreign exchange restrictions which hamper the growth of world trade.…

    • 7914 Words
    • 32 Pages
    Powerful Essays