DOING BUSINESS IN THE ASIAN PACIFIC BASIN
The largest trading region in the world
Questions to answer
What does the acronym, “APEC”, stand for? What is the mission of APEC?
What is the EAEC and who’s idea was it?
What is JETRO?
Largest trading region in the world
Asia covers over 17 million miles
Population of over 3 billion people
Fastest-growing region of the world BUT also the most widely dispersed
What is APEC
The Asia-Pacific Economic Cooperation (APEC)
Established in 1989 to leverage the growing interdependence of the Asia-Pacific
GOAL: To support sustainable economic growth and prosperity in the Asian pacific region
Australia 6-7 Nov 1989
Brunei Darussalam 6-7 Nov 1989
Canada 6-7 Nov 1989
Chile 11-12 Nov 1994
People's Republic of China 12-14 Nov 1991
Hong Kong, China 12-14 Nov 1991
Indonesia 6-7 Nov 1989
Japan 6-7 Nov 1989
Republic of Korea 6-7 Nov 1989
Malaysia 6-7 Nov 1989
Mexico 17-19 Nov 1993
New Zealand 6-7 Nov 1989
Papua New Guinea 17-19 Nov 1993
Peru 14-15 Nov 1998
The Philippines 6-7 Nov 1989
Russia 14-15 Nov 1998
Singapore 6-7 Nov 1989
Chinese Taipei 12-14 Nov 1991
Thailand 6-7 Nov 1989
The United States 6-7 Nov 1989
Vietnam 14-15 Nov 1998
Its 21 member economies are home to around 2.8 billion people and represent approximately 57 per cent of world GDP and 47 per cent of world trade in 2012.
The Eastern Asian Economic Caucus was a suggested regional free trade zone proposed in 1990 by former Prime Minister DR. Mahathir Bin Mohamad
His vision was to remove the influence of the US and Australia from the regional framework of economic trade
He wanted to establish an institution that would replace APEC
He had anti-western views during a time when western influence benefited most Asian nations
Nations of the Asian Pacific Basin and their statistics
|Country||Population(Millions)||National Income($ in billions)||National per capita income($)|
|Papua New Guinea||4.7||11.1||2,400|
Japan in the trade game
Second most technologically powerful economy
Third largest economy in the world measured on purchasing power parity basis
Manufacturers, suppliers, and distributors work together in closely knit groups called KEIRETSU
Average Japanese tariff: about 3.4% Some items tariffs and quotas are quite trade restrictive. Duties are assessed on the cost, insurance and freight value of the goods or transaction concerned or specific rates, and in few instances are charged on a combination of both.
Trump Trade Order Consideration Could Lead To Duties (:42)
Marketing in Japan
The key to marketing success in Japan is:
Highest quality goods
Excellent after-sales service
May do well in Japanese market
Japan External Trade Organization(JETRO)
Is a nonprofit, government supported organization dedicated to promoting mutually beneficial trade between businesses of other nations
Services are generally free of charge and should be the first stop for any firm interested in dealing with Japan
Headquarters in Tokyo
30 offices in Japan
77 overseas offices in 57 countries
Message from Prime Minister Abe on Japan's attractiveness as an investment destination (2:16) https://youtu.be/YWwyMoHtHQA
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