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In order to meet APEC's Bogor Goals for free and open trade and investment in Asia-Pacific, APEC member economies follow the strategic roadmap as agreed by APEC economic leaders in Osaka, Japan in 1995. This roadmap is known as the Osaka Action Agenda.
APEC member economies report progress towards achieving free and open trade and investment goals through Individual Action Plans (IAPs) and Collective Action Plans (CAPs), submitted to APEC on an annual basis. Individual and Collective Action Plans are available through the dedicated e-IAP website. This site provides the ability to search individual APEC member economy IAPs, compare IAPs across years and view CAPs.
Information on the assessment of the achievement of Bogor Goals by APEC and its 21 member economies can be found here.
Osaka Action Agenda
The Osaka Action Agenda provides a framework for meeting the Bogor Goals through trade and investment liberalization, business facilitation and sectoral activities, underpinned by policy dialogues and economic and technical cooperation. As part of this framework, general principles have been defined for APEC member economies as they proceed through the APEC liberalization and facilitation process.
The following general principles are provided in the Osaka Action Agenda and are applied to the entire APEC liberalization and facilitation process:
- Comprehensiveness - addressing all impediments to achieving the long-term goal of free and open trade.
- WTO-consistency - measures undertaken in the context of the APEC Action Agenda are consistent with the principles of the World Trade Organization (WTO).
- Comparability - APEC member economies endeavour to have comparable trade and investment liberalisation and facilitation, taking into account the general levels achieved by each APEC economy.
- Non-discrimination - reductions in barriers to trade achieved through APEC are available to all APEC member economies and non-APEC economies.
- Transparency - the laws, regulations and administrative procedures in all APEC member economies which affect the flow of goods, services and capital among APEC member economies are transparent.
- Standstill - APEC member economies do not take measures which have the effect of increasing levels of protection.
- Simultaneous start, continuous process and differentiated timetables - APEC member economies began simultaneously the process of liberalisation, facilitation and cooperation and continuously contribute to the long-term goal of free and open trade and investment.
- Flexibility - APEC member economies deal with the liberalisation and facilitation process in a flexible manner, taking into account differing levels of economic development.
- Cooperation - Economic and technical cooperation contributing to liberalization and facilitation is actively pursued.
Individual Action Plans (IAPs)
APEC member economies regularly submit their Individual Action Plans. This is a record of actions taken to meet its stated goals for free and open trade and investment. APEC member economies set their own timelines and goals, and undertake these actions on a voluntary and non-binding basis.
As specified in the Osaka Action Agenda, reporting is based on the following areas including:
- Tariffs
- Non-tariff measures
- Services
- Investment
- Standards and conformance
- Customs procedures
- Intellectual property rights
- Competition policy
- Government procurement
- Deregulation/regulatory review
- WTO Obligations (including rules of origin)
- Dispute mediation
- Mobility of business people
- Information gathering and analysis
- Transparency
- Regional Trade Agreements / Free Trade Agreements (RTAs/FTAs)
Each year, several APEC member economies volunteer to have their IAPs reviewed. The peer review process involves a formal review team considering each volunteer economy's IAP. Experts conducting independent research and analysis and the involvement of the independent private sector body, the APEC Business Advisory Council (ABAC) are also part of the process.
Collective Action Plans (CAPs)
Collective Action Plans detail the collective actions of all APEC member economies in the issue areas outlined in the Osaka Action Agenda, mirroring the IAPs.
CAPs are used by APEC to outline actions and objectives to meet the free trade and investment goals, as well as to monitor and report on progress.
More details about CAPs can be found in the Committee on Trade and Investment Annual Report to Ministers publication, and in the APEC Groups section of this website.