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Jusuf Wanandi
Co-Chair Pacific Economic Cooperation Council


The Asia-Pacific Economic Cooperation (APEC) forum celebrates its 25th anniversary this year. This milestone presents a chance for reflection on achievements as well as the future. Although most think of APEC in terms of the Bogor Goals of free trade and investment, these were the chosen means to an end — that end being “accelerated, balanced and equitable economic growth not only in the Asia-Pacific region, but throughout the world as well”.

Since 1989, the average income in the region has tripled from around US$5,000 to above $15,000. Asia- Pacific is now the world’s strongest growth center. The non-OECD economies of Asia-Pacific, notably China, have evolved into great traders. Asia-Pacific has also caught up very fast in the origination and hosting of the cross-border flows of capital and people. More importantly, the number of people living on less than $2 a day in the region has dropped from close to 1.2 billion to 412 million.

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Tagged in: apec FTAAP RCEP TPP
in PECC Forum 19120

Malcolm Cook
Senior Fellow, Institute of Southeast Asian Studies


If Indian Prime Minister Modi accepts Chinese President Xi’s surprise (to the other members of APEC and to India) invitation to attend the APEC Leaders Meeting in Beijing in November, it will bring India closer to its twenty-year goal of becoming an APEC member economy. In 2005, I supported the  continued thwarting of this Indian aspiration for what I thought were sound, APEC-based reasons. (http://www.lowyinstitute.org/publications/how-save-apec)

Nine years on, the regional trade diplomacy picture has fundamentally changed while APEC has not. The Doha Round’s continuing comatose state has underpinned a continuing proliferation of bilateral preferential trade deals and an attempt at an Asia-Pacific regional trade deal (the Trans-Pacific Partnership) and an ASEAN-based, East Asian one (The Regional Comprehensive Economic Partnership).

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Tagged in: apec FTAAP India RCEP TPP
in PECC Forum 25331

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