APEC

• Asia-Pacific Economic Cooperation  is a forum for 21 Pacific

Rim member economies that promotes free trade

• It was established in 1989

• Headquarters Singapore

• Executive Director Allan Bollard

APEC MEMBERS

OBJECTIVES

• To sustain the growth and development of the region

• To enhance the positive gains, both for the region and the world economy

• To develop and strengthen the open multilateral trading system

• To reduce barriers to trade in goods and services and investment among participants in a manner

• Last year they held their 28th meeting in Peru(South America) with the theme of Quality

Growth and Human Development

• This year the conducted in Vietnam(China)

SAARC

• South Asian Association for Regional Cooperation.• Economic and political organization.• Established on December 8th,1995.• Members: Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan

and Srilanka.• 3rd April 2007, 14th summit Afghanistan became 8th member.• Headquarters- Kathmandu, Nepal.

• General secretary H.E. Mr. Amjad Hussain B. Sial • Current Observers of SAARC are:• Australia,• China,• The European Union,• Iran,• Japan,• Republic of Korea,• Mauritius,• Myanmar• USA.

OBJECTIVES

• Promote welfare of the people• Accelerate economic growth• Strengthen cooperation with other developing countries• Active collaboration and mutual assistance• Cooperate with international organisation with similar aims and purposes

KEY AGREEMENTS

• Integrated Programme of action – 1983Agriculture, rural development, metrology, telecommunication, Health, transport, postal, science and technology,Sports, etc• SAARC preferential trading agreement (SAPTA) – 1997To promote and sustain economic growth within SAARC region through exchange of concessions.

CLOSER ECONOMIC RELATION

•  A free trade agreement between the governments 

• 1 January 1983, but the actual treaty was not signed until 28 March 1983 

• Other parts of CER include:

• A good that can be legally sold in one country can also be legally sold in the other.

• Anyone registered to practice an occupation in one country may practice in the other

• Service providers may provide services in either country (except in certain areas such as airway services)

EXAMPLES

ADVANTAGES:

• Improved labor force with low cost• Reduced export and helped internal development• Advantageous to textile industry• esp.: developing countries• Example: Bangladesh suffered at the end MFA,• Because of more competition, from China.

WHAT IS OPEC……..?

• Organization of petroleum exporting countries• 12 Inter-governmental organization• Key for development• 41.7% world’s total oil production• US Dollar is unit of sales• Petrodollar

COUNTRIES:

• Algeria• Angola• Ecuador• Iran• Iraq• Kuwait

• Libya• Nigeria• Qatar• Saudi• UAE• Venezuela

OBJECTIVE:

• Co-ordinate & Unify• Stable Price• Consistent supply• Fair ROI• Promote harmony• Forecasting• Policy changes

OIL PRICE

• Availability•Demand • Extraction cost• Tax burden

TREND:

• 2006-2008(Increase)• 2009 steady between $60 - $80• Past 3 years $90 - $120• 2014 declined to the least

WHY DECLINE……..?

•US oil production increases• Lower economic growth of China•Higher oil export by Iran

ATTITUDE- EFFICIENCY

• Cleaner – Safer – Efficient • Environmental Sustainability•Optimization