Keating, invited the heads of government from member economies to a summit on Blake Island. He believed it would help bring the stalled Uruguay Round of trade talks on track. At the meeting, some leaders called for continued reduction of barriers to trade and investment, envisioning a community in the Asia-Pacific region that might promote prosperity through cooperation. The APEC Secretariat, based in Singapore, was established to coordinate the activities of the organisation.the meeting in 1994 in Bogor, Indonesia, APEC Leaders adopted the Bogor Goals that aim for free and open trade and investment in the Asia-Pacific by 2010 for industrialized economies and by 2020 for developing economies. In 1995, APEC established a business advisory body named the APEC Business Advisory Council (ABAC), composed of three business executives from each member economy. p align="justify"> economic cooperation asia trade membership
3. Membership
's Three Pillarsmeet the Bogor Goals, APEC carries out work in three main areas:
. Trade and Investment Liberalization
. Business Facilitation
. Economic and Technical CooperationBusiness Advisory CouncilAPEC Business Advisory Council (ABAC) was created by the APEC Economic Leaders in November 1995 with the aim of providing advice to the APEC Economic Leaders on ways to achieve the Bogor Goals and other specific business sector priorities, and to provide the business perspective on specific areas of cooperation.economy nominates up to three members from the private sector to ABAC. These business leaders represent a wide range of industry sectors.provides an annual report to APEC Economic Leaders containing recommendations to improve the business and investment environment in the Asia-Pacific region, and outlining business views about priority regional issues.is also the only non- governmental organisation that is on the official agenda of the APEC Economic Leader s Meeting.
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has requested membership in APEC, and received initial support from the United States, Japan and Australia. Officials have decided not to allow India to join for various reasons. However, the decision was made not to admit more members until 2010. Moreover, India does not border the Pacific which all current members do. The Philippines trade negotiator was quoted as saying that there is concern that "Once the Indians come in, the (Asian) weighting would become heavier in this part of the world." br/>В
addition to India, Mongolia, Pakistan, Laos, Bangladesh, Costa Rica, Colombia, and Ecuador, are among a dozen countries seeking membership in APEC by 2008. Colombia applied for APEC's membership as early as in 1995, but its bid was halted as the organization stopped accepting new members from 1993 to 1996, and the moratorium wa...
