Mercury with an Asian face


Rapid development of the Asia-Pacific region in the first half of the 90's, due to large-scale investments and the expansion of intra-regional trade, led to the growth of economic interdependence of Asian countries. This is motivated by a desire to seek new forms of cooperation at the multilateral level and region-specific.

Trading coalition without the U.S.?

Trend towards convergence of Asian countries was stimulated processes of integration in other regions, the formation of the EU single market, the creation of the North American Free Trade Agreement (NAFTA), the Central American free trade zone, the Andean free trade zone, and others. Integration processes in the region and the impact of global trends of globalization have led to the fact that in the Asia-Pacific Region (APR) have developed and implemented new ways of cooperation. It is, first of all, the so-called "Short forms" of cooperation on bilateral and trilateral basis. Another example of the desire for such cooperation - from 1990. Malaysia is the initiator of the East Asian Economic Grouping (VAEG), a kind of coalition of trade without the U.S., which would be the backbone of economic and trade relations of Japan with regional states.

For economic development and integration in the region are gradually formed and relevant non-governmental organizations. These include, in particular, the Pacific Basin Economic Council (1967), Pacific Forum on Trade and Development (1968), the Conference of the Pacific Economic Cooperation (1980), Forum for the Asia Pacific Economic Cooperation (1989 ).

These regional institutions together representatives of the private sector, academia, and government agencies in the region, which at its regular meetings and by targeted officers routinely discuss issues of regional integration and cooperation, seek consensus on the issue of combining national interests in the international division of labor.

According to the principle of "flexible consensus"

To date, the highest (level of participation) regional institution is the Forum for the Asia-Pacific Economic Cooperation (APEC), designed to ensure interoperability in the most promising economic areas.

Since its inception in 1989, APEC sessions was made more than a dozen programs: the development of comparable data on trade and investment, the expansion of investment and transfer of technology, the training of scientists, on regional cooperation in the field of energy, protection of marine resources, fisheries development , tourism and telecommunications.

One of the main practical achievement is the adoption of APEC Bogor in November 1994, the Declaration on the establishment of the Asia-Pacific free trade area by the year 2020 (the so-called Bogor Declaration). In accordance with this Declaration of the industrialized countries to the conference participants have committed to complete the transition to this mode earlier - in 2010. In case of the goal in the Asia-Pacific region will create the conditions for free access to the most dynamic market in the world.