Change APEC Timeline Actionand

Achievement of the Bogor Goals EARLY 1980s: Paci c Economic LATE 1980s: EARLY 1990s: LATE 1990s: 2000s: Strengthening Cooperation Council (PECC) The Establishment Launching the Leaders’ APEC Faces Human Security and the 2010: Meetings Begin of APEC Meeting and Setting the Bogor Goals Challenges Proposal for FTAAP APEC

During the late 1980s, with the troubled In 1993 the APEC Although APEC had Prompted by the September 11, 2001, These will be the rst APEC progress in the Uruguay Round of multilat- Economic Leaders’ Meet- achieved great progress terrorist attacks and the emergence of meetings to be held in Japan eral trade negotiations, there were ing was launched under since its establishment, avian inuenza, APEC continued eorts in 15 years, since the 1995 concerns that the global economy would the initiative of the United the Early Voluntary in traditional areas such as trade and meeting. Japan, which split into blocs as the U.S.- Free States. The 1994 APEC Sectoral Liberalization investment, and strengthened its work implemented concrete Trade Agreement came into eect. Based Economic Leaders’ Meet- (EVSL) initiative in 15 on counterterrorism measures, infectious initiatives toward APEC’s on the concept of open regionalism, then ing, which was held in sectors proposed at the disease countermeasures, and other founding and during its Australian Prime Minister Robert Hawke Bogor, , adopted 1997 APEC Vancouver human security issues from the perspec- formative years, is facing proposed, with support from Japan, the the Bogor Declaration, The 1st APEC Economic Ministerial Meeting did tive of ensuring a safe environment for high expectations from other establishment of a meeting for sustainable which calls for achieving Leaders’ Meeting in Seattle, not proceed well. APEC conducting business. There has also economies in serving as the economic development and regional free and open trade and United States, in 1993 also failed to forge been a resurgence of interest in APEC as 2010 chair during this critical A visit by Japanese Prime Minister Masayoshi Ohira to Courtesy of the Cabinet Public in 1980 cooperation in the Asia-Paci c region. In investment in the Asia- Relations Oce eective policies in a framework linking East Asia with the period for APEC. Courtesy of the Masayoshi Ohira Memorial Foundation response, the momentum toward the Paci c region no later response to the Asian Americas, accompanying the economic realization of APEC gradually grew in the than 2010 for industrial- nancial crisis which development of and other East United States, ASEAN and other nations, ized economies and no followed the collapse Asian economies. In 2006, the United Movements toward forming a regional and the rst APEC Ministerial Meeting took later than 2020 for devel- of the Thai baht. Con- States proposed exploring a cooperation mechanism in the Paci c region place in Canberra, Australia, in 1989. oping economies. Since sequently, APEC lost Area of the Asia-Paci c (FTAAP), which emerged amid the development of diverse that time, the Bogor Goals its momentum and has since been added to APEC’s agenda. forms of bilateral and multilateral cooperation have propelled the entered a period of In 2008, the important role played by the among Paci c nations, which stemmed from liberalization of trade and stagnation. liberalization of trade and investment in advancements in transportation and commu- investment within APEC. the global economy—the core agenda The 2nd APEC Economic nication technology. One leading example was Moreover, the following Leaders’ Meeting in Bogor, for APEC—was underscored by the the Paci c Basin Cooperation concept year, in 1995, the Osaka Indonesia, in 1994 global economic and nancial crisis. proposed by then Japanese Prime Minister Action Agenda (OAA) was Courtesy of the Cabinet Public Relations Oce Masayoshi Ohira. A nal report on this concept adopted under Japanese was compiled in May 1980. Based on this, the initiative at the APEC Ippei Yamazawa rst general meeting of the Paci c Economic Osaka Ministerial Meeting APEC at 20 and Professor Emeritus, Hitotsubashi University Cooperation Council (PECC), comprised of PECC in Osaka, Japan, in 1988 Courtesy of PECC to provide the framework representatives from government, academia, for achieving the Bogor the N 20 Years and industry, was held in Canberra, Australia, in Goals. APEC’s advantage lies in its diverse membership, member economies have all September 1980. through which the technology and capital of achieved high growth. Over the industrialized economies meet with the dynamism next 20 years, APEC will

The 3rd APEC Economic of developing economies. Led by the bold 1993–94 promote further regional Leaders’ Meeting in Osaka, Leaders’ Declaration, APEC has promoted trade integration and, in coordination with the G-20, Japan, in 1995 and investment liberalization and facilitation. contribute to global governance, facilitate macro- Courtesy of the Cabinet Public Relations Oce Although liberalization has been constrained by economic policy coordination and nancial The 1st APEC Ministerial Meeting in Canberra, APEC’s voluntary and nonbinding approach, stability, and tackle such challenges as environ- Australia, in 1989 facilitation has progressed to the extent that APEC mental protection, disaster management, and economies have integrated at a faster rate than the infectious disease prevention. average pace of globalization and developing

1980 China joins the International 1985 The Plaza Accord is signed by 1993 European Community eliminates 1995 Great 1997 UK hands over 2001 September 11 attacks Monetary Fund 5 nations trade barriers and creates a Hanshin sovereignty of Hong 2004 Sumatra-Andaman Earthquake occurs 1983 Modern Internet begins to take 1986 Chernobyl disaster European single market (EU) Earthquake Kong to China 2008 G-20 Summit is launched shape with launch of TCP/IP 1989 Fall of the Berlin Wall 1994 NAFTA is established occurs 1997 Asian Financial Crisis 2008 The Global Economic and Financial Crisis networks 1995 WTO is established 1999 Euro is established 2009 Global outbreak of H1N1 inuenza virus

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