Tuesday, 24 November 2015


1. 2015 Asia-Pacific Economic Cooperation (APEC) summit was held in Manila, Philippines

2. Theme - Building Inclusive Economies, Building a Better World

3. Objective – to seek for inclusive growth and highlight the role of Small and Medium Enterprises (SMEs)

4. SMEs accounts for more than 97% of businesses in member countries

5. Date – 18th to 19th November 2015

6.The logo design for the summit was donated by INKSURGE Design Studio

7. APEC - regional economic forum comprising of 21 member countries accounting nearly half of the world’s trade

8. APEC was established in 1989 with the following objectives

·         To leverage the growing interdependence of Asia-Pacific region’s economies
·         To promote free trade in the region

9. The following are the 21 member countries
·         Australia, Brunei Darussalam, Canada, Indonesia, Japan, South Korea, Malaysia
·         New Zealand, Philippines, Singapore, Thailand, United States, Taiwan, Hong Kong
·         China, Mexico, Papua New Guinea, Chile, Peru, Russian and Vietnam

10. They constitute to over 57% of global Gross Domestic Product (GDP)

11. Headquarters of APEC – Hong Kong

12.The following are the 2 important key plans that were discussed in the APEC summit 2015
·         The Cebu Action Plan for financial integration – to protect the APEC member countries from financial crises
·         Boracay Action Agenda – to help Micro, Small, and Medium Enterprises (MSMEs) to access the regional and global market

13. India has been a spectator of the APEC since 2011 and has applied for the membership

14. It is 2nd time Philippines hosting APEC summit

15.Previously it had hosted the summit in 1996 under the leadership of then President Fidel Ramos

16. 2014 APEC Summit was held in Beijing, China

17. 2016 APEC Summit is scheduled to be held in Lima, Peru

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