Since its establishment in 1989, APEC has affirmed itself as a leading regional economic linkage mechanism, which initiates and takes the lead in promoting economic, trade and investment liberalisation in the region and around the world, making important contributions to economic growth and the maintenance of peace, stability, cooperation and development in Asia-Pacific. With its three major pillars of cooperation, namely trade and investment liberalisation, trade facilitation, and economic and technical cooperation, the forum is a gathering place of the world’s major economic, trade and technological centres, operating on a cooperation and consensus, non-binding and voluntary basis. Amid a rapidly and deeply changing world, under the influence of the fourth industrial revolution, APEC is pushing through the implementation of major strategies and cooperation programmes such as the APEC Strategy for Strengthening Quality Growth, the Renewed APEC Agenda for Structural Reform, the APEC Services Competitiveness Roadmap and the APEC Connectivity Blueprint in order to capitalise on opportunities and overcome any challenges. The member economies are actively participating in discussions on building a vision for APEC after 2020 in order to help maintain the role of the region as a driver of global growth and economic connectivity, as well as enhancing the… Read full this story
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