Towards One Community - APEC Korea 2005

Announcing the APEC Korea 2005 theme at the recent APEC Ministerial Meeting, in Santiago, Chile, Korean Minister of Foreign Affairs and Trade, H.E. Ban Ki-Moon, explained, "We believe this theme will clearly present to our audiences, not only in the region but also in the world, the strenuous will of APEC members to achieve the vision we have set for ourselves. We also wish to continue, without any pause, the efforts that the current and the previous host economies have made to build one economic community in the Asia-Pacific region."

Supporting the main theme are three sub-themes, which will provide direction for much of APEC's work through Korea's tenure as host economy in 2005. These sub-themes are -

1. Renew the Commitment to the Bogor Goals
2. Ensure Transparent and Secure Business Environment
3. Build Bridges over Differences

Discussing the first sub-theme, "Renew the Commitment to the Bogor Goals", Minister Ban indicated that the free trade and investment goals agreed by leaders in 1994 would continue to be of paramount importance as APEC assessed itself 5 years out from its first major milestone, "Year 2005 will see APEC review its progress towards the Bogor Goals and, hopefully, identify a series of roadmaps as a result of the review. Exploring how to incorporate such findings into APEC's future work plan will be one of the most important elements of mid and long term APEC reform so that we can effectively and efficiently pursue free and open trade and investment in the region."

The Bogor Goals aim to establish free and open trade and investment in the APEC region by 2010 for industrialized economies and 2020 for developing economies.

The second sub-theme, "Ensure Transparent and Secure Business Environment" builds on APEC's work to combat terrorism, increase transparency and stamp out corruption for the benefit of the regional economy. According to Minister Ban, "APEC will redouble its efforts in fighting for a clean and safe economic environment in the Asia-Pacific region. APEC will be in unity to strenuously fight corruption and terrorism and to secure a safe trade environment throughout the region based on its firm belief that this will, in the end, render direct benefits for business people by lowering transaction costs."

The final sub-theme, "Build Bridges over Differences" recognises the importance of continuing to build the Asia-Pacific community to ensure on-going economic growth and stability in the region. "APEC members will discuss ways to facilitate their community building process through economic development and cultural diversity. Economic and technical co-operation, in particular mutual cooperation in capacity building activities, will be a key to achieving our common prosperity. On this basis, we may need to explore further facilitation in understanding each other beyond economic areas such as culture, which, I am convinced, will eventually lower trade barriers by dismantling psychological or emotional barriers," said Minister Ban.

To accompany its ambitious theme, Korea recently unveiled the APEC Korea 2005 logo. The APEC Korea 2005 logo embodies Korea's traditional Tri-Taegeuk mark, which represents the unity and harmony of heaven, earth and man. The design features a representation of the powerful wave of Busan, the venue for the APEC 2005 Leaders' Meeting. The logo also captures the image of the Pacific Ocean encircled by APEC Member Economies.

In addition to the APEC Economic Leaders' Meeting in Busan on November 18-19, 2005, the APEC Korea 2005 schedule includes the following meeting dates:

1. Meeting of Ministers Responsible for Trade, 2-3 June, Jeju
2. Small and Medium Enterprises Ministerial Meeting, 2-3 September, Daegu
3. Finance Ministers Meeting, 8-9 September, Jeju
4. Joint Ministerial Meeting, 15-16 November, Busan

Korea is one of APEC's 12 founding Member Economies. APEC economies are major trading and investment partners with Korea accounting for 70.3% of Korea's total trade and 63.7% of foreign direct investment in Korea as of 2002. In recent years Korea has taken a lead role on a broad range of initiatives such as the APEC Education Foundation, strengthening social safety net initiatives, and IT capacity building for disadvantaged groups.