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Consider the following statements about APEC
1) India is not a member of APEC
2) U.S.A. and China both are members of APEC.
Which of the above statements is/are correct?
1 only
2 only
Both 1 and 2
None of the above
Both the statements are correct. India is not a member of APEC and U.S.A. and China are both members of APEC.
Asia-Pacific Economic Cooperation (APEC) is an inter-governmental forum for 21 Pacific Rim member economies that promotes free trade throughout the Asia-Pacific region. Inspired from the success of Association of Southeast Asian Nations (ASEAN)’s series of post-ministerial conferences launched in the mid-1980s, the APEC was established in 1989 in response to the growing interdependence of Asia-Pacific economies and the advent of regional trade blocs in other parts of the world; and to establish new markets for agricultural products and raw materials beyond Europe.
APEC currently has 21 members. However, the criterion for membership is that the member is a separate economy, rather than a state. As a result, APEC uses the term member economies rather than member countries to refer to its members. One result of this criterion is that membership of the forum includes Taiwan (officially the Republic of China, participating under the name "Chinese Taipei") alongside People's Republic of China (see Cross-Strait relations), as well as Hong Kong, which entered APEC as a British colony but it is now a Special Administrative Region of the People's Republic of China. APEC also includes three official observers: ASEAN, the Pacific Islands Forum and the Pacific Economic Cooperation Council.
By: Jasmeet Singh ProfileResourcesReport error
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