The 2010 APEC forum meetings started in Yokohama on Monday and an APEC leaders summit will take place on Saturday and Sunday. As host and chair, Japan faces the task of leading the Asia-Pacific Economic Cooperation members to agree on steps to push for further liberalization of trade and investment.
The 21 economies of the Asia-Pacific Economic Cooperation forum, established in 1989, account for some 54 percent of world gross domestic product and some 43 percent of global trade. Under the Bogor Goals adopted by APEC in 1994, this year is the deadline for its industrialized members to achieve free and open trade and investment. The deadline for the developing members is 2020.
Japan must lead the APEC members in evaluating the progress under the Bogor Goals in such areas as tariffs, investment and intellectual property rights. Not only the progress in five industrialized countries — Japan, the United States, Canada, Australia and New Zealand — but also in eight developing economies, including South Korea, Singapore, Hong Kong and Mexico, will be evaluated.