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The debate over India’s membership to APEC has been gaining ground ever since the moratorium on new membership expired in 2010. Within India, the arguments supporting APEC membership are primarily based on India’s growing , strategic clout and economic power . But there is still doubts regarding India’s performance like In terms of economic liberalization, it has still to sign bilateral free trade agreements with a number of countries in Asia - Pacific including Australia, US and many other members of APEC. India has relatively high tariff regime and is yet to formalise services and investment agreement with ASEAN. According to analysts, India still needs to undertake a slew of economic reforms, trade and tariff liberalizing policies in order to gain APEC membership. India, particularly , needs to work on regional value chains, promotion of Indian investments abroad and ease its customs procedures as well as Rules of Origin (ROOs).These issues have frequently cropped up during India’s negotiations for Comprehensive Economic Cooperation/Partnership Agreement ( CECA/CEPA ) with other countries. . India has long sought membership in the APEC forum, for strategic, diplomatic, and economic reasons. With 21 members from both sides the Pacific ocean and an influential annual leaders’ meeting, APEC serves a valuable role in the Asian diplomatic scene. Though New Delhi’s ambition for APEC membership hasn’t come to fruition to date, it won a small victory when, the U.S. invited it to observe in 2011. Though most APEC member states do not deny India’s growing economic clout on the world stage, the mere geographic reality that India doesn’t sit on the Pacific Ocean has led the grouping to see New Delhi’s participation as antithetical to the geographic logic of the organization.
However, India’s desire for membership was not on the agenda of the Asia Pacific Economic Cooperation (APEC). But growing support of India among APEC members increasing its chances to become member soon.
About APEC
The forum was established in 1989 to support the economy of these nations while having Japan as the leader. Its head office is situated in Singapore. The members countries are Australia, Brunei Darussalam, Canada, Indonesia, Japan, South Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, United States, Chinese Taipei, Hong Kong, China, People's Republic of China, Mexico, Papua New Guinea, Chile, Peru, Russian Federation and Vietnam
By: Parveen bansal ProfileResourcesReport error
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