Political Science

APEC Asia- Pacific Economic Cooperation is a trade agreement aimed at the promotion of trade in the region as well as the initiation of global economic growth.  This corporation is comprised of Brunei, Peru, Australia, Russia, Singapore, Korea, China, Mexico, Vietnam, Canada, Hong Kong, Malaysia, Taiwan, Philippians, Papua New Guinea, Chile, Indonesia, Thailand, New Zealand, Mexico, and Japan. The APEC formed in 1989, has since then demonstrated powerful development, growth of individual nations investment and global trade promotion not forgetting the regional economic growth.  The economic corporation accounts for 54 of the global gross domestic product, while it takes a share of world trade of 44.

The APEC is progressive since its formation because records reflect increased APEC imports from U.S amounting to 137 since 1994. APEC provides forums for the member State leaders to meet and forge way forward towards economic development and deliberate on how to fight world economic crises. For example, they met first in U.S Blake Island 1993 and are planning to meet again in the US in 2011.
 APEC has faced challenges in its trade affairs management like the reluctance of some member states to vote for removal of specific trade barriers to encourage quicker movement of trade goods. Trade liberalization and globalization aimed at uplifting global economic status that has been dropping is challenging though it is currently recording progress. APEC has been encouraging economic integration in the region so as to solve the financial havoc recorded by the WTO. This would further expand trade region, reinforce trade goods safety and ensure proper trade information dissemination to the member States. Generally, progress in APEC has been worth its credit for the good performance recorded in the past years and the projected strategies on global economic growth.