FACTBOX: The when, why, how and what of APEC
SYDNEY (Reuters) - Asia-Pacific leaders are expected to sign a landmark statement on climate change at the annual Asia-Pacific Economic Cooperation (APEC) summit of 21 regional leaders in Sydney on September 8 and 9.
Here are some facts about the grouping and its priorities.
MEMBERS AND MISSION:
-- APEC's 21 member economies account for more than a third of the world's population (2.7 billion people), about 60 percent of world GDP, and 46 percent of world trade volume. It also has accounted for 70 percent of global economic growth.
-- The member economies are Australia, Brunei, Canada, Chile, China, Hong Kong, Indonesia, Japan, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, Philippines, Russia, Singapore, South Korea, Taiwan (under the name Chinese Taipei), Thailand, United States and Vietnam.
ISSUES:
-- APEC'S key goals are to promote trade liberalization and economic growth in the region, although it has begun to tackle security-related issues, including counter-terrorism initiatives. -- This year, climate change has been highlighted, and the leaders are expected to sign a "Sydney Declaration" calling for "aspirational targets" among members, but recognizing the United Nation as the primary framework for climate change pacts.
-- The leaders are also expected to issue a strong statement of support to rekindle the moribund Doha World Trade Organisation (WTO) talks. Deadlocked in disagreements between developing and developed countries, backers hope the free trade negotiations will enter their "final phase" by the end of the year.
HISTORY:
-- Founded as an informal dialogue among 12 members in 1989 in Canberra, Australia, APEC has expanded to more than 100 formal and informal meetings each year. The APEC leaders meeting was held for the first time at Seattle in 1993 and nearby Blake Island in Washington state.
FASHION SHOW:
-- APEC tradition calls for all participants to don local costumes for a photo shoot on the meeting's last day. Australian Prime Minister John Howard has remained tight-lipped about which Australian outfit world leaders may sport, but has ruled out the country's skin-tight swimming trunks, or Speedos, as not a very "diplomatic" option. Local newspapers have said they will probably sport Akubra hats, which outback ranchers wear, and "Driza-bone" full-length waterproof riding jackets.
Source: Reuters
