EDEN IAS

NEWS IMPULSE – APEC MINISTERIAL LEVEL VIRTUAL MEET | 18 NOVEMBER

<p style=”margin-bottom:13px”><span style=”font-size:11pt”><span style=”line-height:115%”><span style=”font-family:Calibri,sans-serif”><b><span style=”font-size:12.0pt”><span style=”line-height:115%”><span style=”font-family:&quot;Cambria&quot;,&quot;serif&quot;”>Syllabus Section: International Relations , Multilateral forums </span></span></span></b></span></span></span></p>

<p style=”margin-bottom:13px”><span style=”font-size:11pt”><span style=”line-height:115%”><span style=”font-family:Calibri,sans-serif”><b><span style=”font-size:12.0pt”><span style=”line-height:115%”><span style=”font-family:&quot;Cambria&quot;,&quot;serif&quot;”>Context</span></span></span></b></span></span></span></p>

<p style=”margin-bottom:13px”><span style=”font-size:11pt”><span style=”line-height:115%”><span style=”font-family:Calibri,sans-serif”><span style=”font-size:12.0pt”><span style=”line-height:115%”><span style=”font-family:&quot;Cambria&quot;,&quot;serif&quot;”>On November 17, 2020, the members of Asia Pacific Economic Cooperation (APEC) held a ministerial meeting virtually. During the meeting, the members committed to pursue free and open trade and investment towards the economic recovery from the impact of covid-19 pandemic.</span></span></span></span></span></span></p>

<p style=”margin-bottom:13px”><span style=”font-size:11pt”><span style=”line-height:115%”><span style=”font-family:Calibri,sans-serif”><b><span style=”font-size:12.0pt”><span style=”line-height:115%”><span style=”font-family:&quot;Cambria&quot;,&quot;serif&quot;”>Highlights</span></span></span></b></span></span></span></p>

<p style=”margin-bottom:13px”><span style=”font-size:11pt”><span style=”line-height:115%”><span style=”font-family:Calibri,sans-serif”><span style=”font-size:12.0pt”><span style=”line-height:115%”><span style=”font-family:&quot;Cambria&quot;,&quot;serif&quot;”>&bull; The meeting was chaired by Malaysia. This ministerial meeting comes ahead of the APEC Economic Leaders Meet that is to be held in November 20, 2020. </span></span></span></span></span></span></p>

<p style=”margin-bottom:13px”><span style=”font-size:11pt”><span style=”line-height:115%”><span style=”font-family:Calibri,sans-serif”><span style=”font-size:12.0pt”><span style=”line-height:115%”><span style=”font-family:&quot;Cambria&quot;,&quot;serif&quot;”>&bull; This marks the first time that the APEC Ministerial Meeting (AMM) has convened virtually.&nbsp; </span></span></span></span></span></span></p>

<p style=”margin-bottom:13px”><span style=”font-size:11pt”><span style=”line-height:115%”><span style=”font-family:Calibri,sans-serif”><span style=”font-size:12.0pt”><span style=”line-height:115%”><span style=”font-family:&quot;Cambria&quot;,&quot;serif&quot;”>&bull; The Bogor Goals of APEC is one of its flagship initiatives and the deadline set for the Goals was 2020.</span></span></span></span></span></span></p>

<p style=”margin-bottom:13px”><span style=”font-size:11pt”><span style=”line-height:115%”><span style=”font-family:Calibri,sans-serif”><span style=”font-size:12.0pt”><span style=”line-height:115%”><span style=”font-family:&quot;Cambria&quot;,&quot;serif&quot;”>&bull; 2020 Malaysia priorities includes the following</span></span></span></span></span></span></p>

<p style=”margin-bottom:13px”><span style=”font-size:11pt”><span style=”line-height:115%”><span style=”font-family:Calibri,sans-serif”><span style=”font-size:12.0pt”><span style=”line-height:115%”><span style=”font-family:&quot;Cambria&quot;,&quot;serif&quot;”>1. Improve the narrative of trade and investment</span></span></span></span></span></span></p>

<p style=”margin-bottom:13px”><span style=”font-size:11pt”><span style=”line-height:115%”><span style=”font-family:Calibri,sans-serif”><span style=”font-size:12.0pt”><span style=”line-height:115%”><span style=”font-family:&quot;Cambria&quot;,&quot;serif&quot;”>2. Inclusive economic participation through digital economy and technology</span></span></span></span></span></span></p>

<p style=”margin-bottom:13px”><span style=”font-size:11pt”><span style=”line-height:115%”><span style=”font-family:Calibri,sans-serif”><span style=”font-size:12.0pt”><span style=”line-height:115%”><span style=”font-family:&quot;Cambria&quot;,&quot;serif&quot;”>3. Driving innovative sustainability </span></span></span></span></span></span></p>

<p style=”margin-bottom:13px”><span style=”font-size:11pt”><span style=”line-height:115%”><span style=”font-family:Calibri,sans-serif”><b><span style=”font-size:12.0pt”><span style=”line-height:115%”><span style=”font-family:&quot;Cambria&quot;,&quot;serif&quot;”>About APEC</span></span></span></b></span></span></span></p>

<p style=”margin-bottom:13px”><span style=”font-size:11pt”><span style=”line-height:115%”><span style=”font-family:Calibri,sans-serif”><span style=”font-size:12.0pt”><span style=”line-height:115%”><span style=”font-family:&quot;Cambria&quot;,&quot;serif&quot;”>&bull; APEC is an economic group that was formed in 1989. </span></span></span></span></span></span></p>

<p style=”margin-bottom:13px”><span style=”font-size:11pt”><span style=”line-height:115%”><span style=”font-family:Calibri,sans-serif”><span style=”font-size:12.0pt”><span style=”line-height:115%”><span style=”font-family:&quot;Cambria&quot;,&quot;serif&quot;”>&bull; The main objective of its formation was to promote free trade and sustainable development in the Pacific Rim countries. </span></span></span></span></span></span></p>

<p style=”margin-bottom:13px”><span style=”font-size:11pt”><span style=”line-height:115%”><span style=”font-family:Calibri,sans-serif”><span style=”font-size:12.0pt”><span style=”line-height:115%”><span style=”font-family:&quot;Cambria&quot;,&quot;serif&quot;”>&bull; It also aims to increase inter-dependence of Asia-Pacific Economies. </span></span></span></span></span></span></p>

<p style=”margin-bottom:13px”><span style=”font-size:11pt”><span style=”line-height:115%”><span style=”font-family:Calibri,sans-serif”><span style=”font-size:12.0pt”><span style=”line-height:115%”><span style=”font-family:&quot;Cambria&quot;,&quot;serif&quot;”>&bull; Collectively, APEC accounts to 50% of world trade and 57% of world GDP.</span></span></span></span></span></span></p>

<p style=”margin-bottom:13px”><span style=”font-size:11pt”><span style=”line-height:115%”><span style=”font-family:Calibri,sans-serif”><span style=”font-size:12.0pt”><span style=”line-height:115%”><span style=”font-family:&quot;Cambria&quot;,&quot;serif&quot;”>&bull; APEC formation was supported by European Union and the now defunct North American Free Trade Area (NAFTA).</span></span></span></span></span></span></p>

<p style=”margin-bottom:13px”><span style=”font-size:11pt”><span style=”line-height:115%”><span style=”font-family:Calibri,sans-serif”><b><span style=”font-size:12.0pt”><span style=”line-height:115%”><span style=”font-family:&quot;Cambria&quot;,&quot;serif&quot;”>India and APEC</span></span></span></b></span></span></span></p>

<p style=”margin-bottom:13px”><span style=”font-size:11pt”><span style=”line-height:115%”><span style=”font-family:Calibri,sans-serif”><span style=”font-size:12.0pt”><span style=”line-height:115%”><span style=”font-family:&quot;Cambria&quot;,&quot;serif&quot;”>&bull; India had requested for membership in APEC. </span></span></span></span></span></span></p>

<p style=”margin-bottom:13px”><span style=”font-size:11pt”><span style=”line-height:115%”><span style=”font-family:Calibri,sans-serif”><span style=”font-size:12.0pt”><span style=”line-height:115%”><span style=”font-family:&quot;Cambria&quot;,&quot;serif&quot;”>&bull; APEC has decided not to allow India as India does not border Pacific Ocean and all the other 21 members of APEC members borders Pacific Ocean. </span></span></span></span></span></span></p>

<p style=”margin-bottom:13px”><span style=”font-size:11pt”><span style=”line-height:115%”><span style=”font-family:Calibri,sans-serif”><span style=”font-size:12.0pt”><span style=”line-height:115%”><span style=”font-family:&quot;Cambria&quot;,&quot;serif&quot;”>&bull; However, India has gained support from Japan, USA, Australia and Papua Guinea to become a full time member. India became an observer of APEC in 2011.</span></span></span></span></span></span></p>

<p style=”margin-bottom:13px”><span style=”font-size:11pt”><span style=”line-height:115%”><span style=”font-family:Calibri,sans-serif”><span style=”font-size:12.0pt”><span style=”line-height:115%”><span style=”font-family:&quot;Cambria&quot;,&quot;serif&quot;”>&bull; The Asia Pacific is the most economically affected region due to COVID-19 pandemic.</span></span></span></span></span></span></p>

<p style=”margin-bottom:13px”>&nbsp;</p>

<p style=”margin-bottom:13px”><span style=”font-size:11pt”><span style=”line-height:115%”><span style=”font-family:Calibri,sans-serif”><b><span style=”font-size:12.0pt”><span style=”line-height:115%”><span style=”font-family:&quot;Cambria&quot;,&quot;serif&quot;”>Source: www.apec.org</span></span></span></b></span></span></span></p>

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