APEC

Subject: International Affairs

Context: APEC leaders pledge to focus on COVID-19 vaccines efforts to fight pandemic

Concept:

Leaders of the Asia-Pacific trade group APEC, have pledged to work to expand sharing and manufacturing of COVID-19 vaccines to fight the global pandemic.
They would encourage the voluntary transfer of vaccine production technologies on mutually agreed terms as the region prepared for future health shocks.
New Zealand is the revolving host of Asia-Pacific Economic Cooperation now.

Asia-Pacific Economic Cooperation,

Asia-Pacific Economic Cooperation (APEC) is a regional economic forum established in 1989 to leverage the growing interdependence of the Asia-Pacific.
APEC’s 21 members aim to create greater prosperity for the people of the region by promoting balanced, inclusive, sustainable, innovative and secure growth and by accelerating regional economic integration.
APEC ensures that goods, services, investment and people move easily across borders. Members facilitate this trade through faster customs procedures at borders; more favorable business climates behind the border; and aligning regulations and standards across the region
India is not a Member ( Not allowed join as India does not border the Pacific Ocean, which all current members do)
India was invited to be an observer for the first time in November 2011.
Member Nations: Australia, Brunei, Canada, Chile, China, Hong Kong, Indonesia, Japan, South Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, Philippines, Russia, Singapore, Chinese Taipei, Thailand, Vietnam and the United States.
Its 21 member economies are home to around 2.8 billion people and represented approximately 59% of world GDP and 49% of world trade in 2015.