Asia-Pacific Economic Cooperation (APEC)

USA hosts Asia-Pacific Economic Cooperation (APEC) grouping meeting in November 2023 which will conclude with the Economic Leaders’ Retreat ceremony.

It is a regional economic forum to leverage the growing interdependence of the Asia-Pacific.
Established in – 1989

Aim – To create greater prosperity for the people of the region by promoting balanced, inclusive, sustainable, innovative and secure growth and by accelerating regional economic integration.

Secretariat – It is based in Singapore.

Membership – 21 members which are termed as “economies” because trade and economic issues are the focus of the grouping.

India is not a member but India made a formal request in 1991 to join APEC.

The Taiwan and Hong Kong attend APEC meetings as distinct entities of economies.

APEC economies’ 2.9 billion citizens make up roughly 60% of global GDP and as of 2018, they represented 48% of global trade.

APEC Process – All economies have an equal say, consensus based decision-making, no binding commitments and works on both bottom-up and top-down approach.
Activities – It ensures easier movement of goods, services, investment and people across borders.
Initiatives includes sustainable management of resources, promoting energy efficiency, ensuring disaster resilience, planning for pandemics, and addressing terrorism.

Indo-Pacific Economic Framework for Prosperity (IPEF)is USA led alternative to China’s economic statecraft in the region comprising of 14 members. Apart from Fiji and India, the rest are all APEC members.

Source:

Join Our Telegram

Active and Passive Equity Funds

Global TB Report 2023

Formation Day

03 Dec, 25
SHARE

On 1st November, eight Indian states—Andhra Pradesh, Chhattisgarh, Haryana, Karnataka, Kerala, Madhya Pradesh, Punjab, and Tamil Nadu—along with five Union Territories—Andaman and Nicobar Islands, Chandigarh, Delhi, Lakshadweep, and Puducherry—celebrate their Formation Day. This date marks an important milestone in India

Turtle (Kachhua) Wildlife Sanctuary

02 Dec, 25
SHARE

The Turtle Wildlife Sanctuary, also known as the Kachhua Sanctuary, is located in the Varanasi district of Uttar Pradesh. It is recognised as India’s first freshwater turtle wildlife sanctuary, established to conserve endangered turtle species and support the ecological health of the Ganga River. Location and Extent The sanctuary co

Introduction of AI and Computational Thinking (CT) in

02 Dec, 25
SHARE

The Ministry of Education plans to introduce Artificial Intelligence (AI) and Computational Thinking (CT) from Class 3 onwards in the 2026–27 academic year. This initiative is part of the National Curriculum Framework for School Education (NCF-SE) 2023 and aligns with the National Education Policy (NEP) 2020. The aim is to prepare student

Sal Tree

02 Dec, 25
SHARE

Scientists from the Environment Department of Himachal Pradesh University (HPU) in Shimla have recently revealed that the Sal tree (Shorea robusta) is the most effective natural air purifier for combating rising pollution levels. Their findings highlight the tree’s superior capacity to trap dust, absorb gases, and cleanse the air compared

US Resumes Nuclear Weapon Testing

02 Dec, 25
SHARE

The President of the United States has ordered the resumption of nuclear weapon testing after a gap of 33 years, the last test being in 1992. This decision marks a significant shift in global nuclear policy and has far-reaching implications for geopolitics, the environment, and international security. Status of Global Nuclear Weapon Testing