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Peru will host the APEC summit for the third time: what is this forum about and which countries are part of it?

Peru will host the APEC summit for the third time: what is this forum about and which countries are part of it?

For the third time, the Peru will assume the presidency of the Leaders Summit of the Asia Pacific Economic Cooperation Forum (APEC), an event that will take place in the country in 2024 and will bring together 21 economies of the world.

The Embassador Carlos Chavez-Taffur, president of the APEC Peru 2024 Presidency working group, provided some scope of the issues that will be addressed in this forum, whose headquarters will be in the imperial city of Cusco. Among the topics to be discussed is “innovation for the transit of informality towards formality.

To this end, in November 2023, our nation will receive the presidency of the aforementioned forum at the summit meeting to be held in USA, indicated the diplomat in RPP.

What is APEC?

The Asia Pacific Economic Cooperation Forum is the premier event to facilitate the economic growthtechnical cooperation, trade liberalization and investment in the region Pacific Asia.

Unlike the World Trade Organization (WTO) and other multilateral forums, APEC is not a treaty or agreement of obligations because decisions are made by consensus and commitments are voluntary.

During the government of Pedro Pablo Kuczynski, the 2016 APEC forum was held. Photo: AP

During the government of Pedro Pablo Kuczynski, the 2016 APEC forum was held. Photo: AP

The 21 member countries represent approximately 60% of world GDP and 50% of world tradeso its importance is significant.

Chávez-Taffur stressed that, upon assuming the presidency, Peru will be responsible for organizing 150 meetings of various kinds among the 21 economies that make up APEC. For this forum, they will arrive more than 8,000 delegateswhich will represent important income for the tourism and consumption items.

APEC: which countries are members of this forum?

A total of 21 nations make up the APEC forum. Among them are some of the world’s major powers. are part Australia, Brunei Darussalam, Canada, Chile, China, Hong Kong, Indonesia, Japan, Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, Philippines, Russia, Singapore, Taiwan, Thailand, United States, and Vietnam.

  Former President Pedro Pablo Kuczynski (PPK) and his US counterpart Barack Obama at the 2016 APEC forum. Photo: AP

Former President Pedro Pablo Kuczynski (PPK) and his US counterpart Barack Obama at the 2016 APEC forum. Photo: AP

Let us remember that Peru held the APEC presidency in 2008 and 2016, and on both occasions it hosted the Leaders’ Summit.

In the last year, 1,200 businessmen from the region and more than 3,000 representatives of the international press arrived in the nation.

Source: Larepublica

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