Important Points to know about Asia-Pacific Economic Cooperation (APEC) Summit 2015

    Important Points to know about Asia-Pacific Economic Cooperation (APEC) Summit 2015
    Important Points to know about Asia-Pacific Economic Cooperation (APEC) Summit 2015:
    Dear Readers, Important points that we have to know about Asia-Pacific Economic Cooperation (APEC) Summit 2015 were given here, which will be more helpful for the candidates those who are preparing for the upcoming exams.

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    1).2015 Asia-Pacific Economic Cooperation (APEC) summit was held inManila, Philippines

    2). Theme –Building Inclusive Economies, Building a Better World

    3). Objective – to seek for inclusive growth and highlight the role ofSmall and Medium Enterprises(SMEs)

    4). SMEs accounts for more than97% of businesses in member countries

    5).Date– 18th to 19th November 2015

    6).The logo design for the summit was donated byINKSURGE Design Studio

    7).APEC– regional economic forum comprising of21 member countries accounting nearly half of the world’s trade

    8). APEC was established in1989 with the followingobjectives

    ·        To leverage the growing interdependence of Asia-Pacific region’s economies
    ·        To promote free trade in the region

    9).The following are the 21member countries
    ·        Australia, Brunei Darussalam, Canada, Indonesia, Japan, South Korea, Malaysia
    ·        New Zealand, Philippines, Singapore, Thailand, United States, Taiwan, Hong Kong
    ·        China, Mexico, Papua New Guinea, Chile, Peru, Russian and Vietnam

    10).They constitute to over57% of globalGross Domestic Product (GDP)

    11). Headquarters of APEC –Hong Kong

     12).The following are the 2 importantkey plansthat were discussed in the APEC summit 2015
    ·        The Cebu Action Plan for financial integration – to protect the APEC member countries from financial crises
    ·        Boracay Action Agenda – to helpMicro, Small, and Medium Enterprises (MSMEs) to access the regional and global market

    13).Indiahas been a spectator of the APEC since2011and has applied for the membership

    14). It is2nd time Philippines hosting APEC summit

    15).Previously it had hosted the summit in1996 under the leadership of then PresidentFidel Ramos

    16).2014APEC Summit was held inBeijing, China

    17).2016APEC Summit is scheduled to be held inLima, Peru
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