Peru to host 2016 Asia-Pacific Economic Cooperation Summit

The 2016 Asia-Pacific Economic Cooperation (APEC) Forum’s Leaders Summit will be held in Lima, Peru from November 19 to 20, 2016.
The theme of the summit is “Quality Growth and Human Development” and the official logo is the architecture of the ancient city of Caral.
It will be the second time Peru hosting to the APEC Summit, previously it had hosted the event in 2008. The 2016 summit will gather leaders from the world’s 21 most important member economies, as well as over 1,500 investors and entrepreneurs.
Agenda for the 2016 APEC summit
Four priority areas were laid out as topics to be discussed. These are Human Capital Development, Regional Food Market, Upgrading SMEs and Regional Economic Integration Agenda. These subjects were chosen to build upon on the discussions from the 2015 APEC summit held in the Philippines.

About Asia-Pacific Economic Cooperation

• APEC is regional economic forum of 21 Pacific Rim member economies that promotes free trade throughout the Asia-Pacific region.
• These 21 member countries collectively account for nearly 50% of the world’s trade and about 57% of GDP.
• It was established in 1989 in order to leverage the growing interdependence of Asia-Pacific region’s economies and promote free trade in the region.
• Headquarters: Singapore.
• 21 Members Economies: Australia, Brunei, 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.
• India is observer of APEC since 2011 and has applied for membership.

Month: Current Affairs - November, 2016