HANOI - Asia-Pacific leaders, ministers and company executives are taking
part in the Asia-Pacific Economic Cooperation forum in Hanoi November 12-19, the
first big international event that Vietnam has hosted.
The following are
a few facts about APEC and Hanoi:
MEMBERS AND MISSION -- APEC's 21
member economies account for more than a third of the world's population (2.6
billion people), about 60 percent of world GDP, and 47 percent of world trade
volume.
It also has accounted for 70 percent of global economic growth.
The member economies are Australia, Brunei, Canada, Chile, China, Hong
Kong, Indonesia, Japan, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru,
Philippines, Russia, Singapore, South Korea, Taiwan (under the name Chinese
Taipei), Thailand, United States and Vietnam.
ISSUES - APEC'S key
policies are to promote trade liberalisation and economic growth in the region,
although it has begun to take on security-related issues, including
counter-terrorism initiatives.
The main item on the agenda this year is
to agree a "Hanoi Declaration" that would further delineate a vast Asia-Pacific
free trade area among the 21 members.
Other issues include
counter-terrorism initiatives to protect trade, dealing with bird flu and other
pandemic disasters, and finding ways to reduce business transaction
costs.
HISTORY -- APEC was founded with 12 members in 1989 as a meeting
of ministers in Australia. The APEC leaders meeting was held for the first time
at the 1993 forum in Seattle and nearby Blake Island in Washington state.
HOST CITY HANOI -- Located on the Red River delta, Vietnam's capital
traces its lineage back to the Neolithic age. Hanoi means "river interior" and
the fast-growing city of 3.5 million still retains the charms of its long
history, including the Old Quarter, the French Quarter, the city's 18 lakes and
hundreds of pagodas and temples.
FASHION SHOW -- A tradition of the
meeting is for all participants in APEC to don local costumes on the last day.
In Hanoi, the leaders will wear the ao dai, a silk tunic, with possibly a turban
to go with it, as this year's APEC haute couture.