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APEC Canada 1997 facts for kids

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APEC Canada 1997
Host country Canada
Date 24–25 November
Venue(s) Museum of Anthropology at UBC
Vancouver, British Columbia
Follows 1996
Precedes 1998

APEC Canada 1997 was an important meeting for countries around the Asia-Pacific region. It happened in Vancouver, British Columbia, Canada, on November 24–25, 1997. This was the fifth time the APEC group had met. It was also the second time an APEC meeting took place in North or South America.

During the meeting, leaders talked about how to help countries in the Asia-Pacific region grow their economies. They also discussed how this growth affects the rest of the world. A big part of the talks was about letting Peru, Russia, and Vietnam join APEC. These three countries were the newest members for many years after this meeting. The leaders also discussed how to make global trade and customs procedures smoother.

What is APEC?

APEC stands for Asia-Pacific Economic Cooperation. It's a group of countries that work together to improve trade and economic ties. Think of it like a team where countries help each other grow stronger financially.

How APEC Started

APEC first met in 1989. It began as an informal way for leaders to talk and share ideas. The main goal was to make international trade easier and fairer for everyone. At a meeting in Japan in 1995, APEC decided on its three main goals. These goals guide how the member countries work together.

New Members Join APEC

At the 1997 meeting, APEC decided to welcome three new members: Russia, Peru, and Vietnam. While the decision was made in 1997, they officially joined in 1998. Before this, the last countries to join APEC were Mexico, Papua New Guinea, and Chile in 1991.

Goals of the 1997 Meeting

The leaders at APEC Canada 1997 had several important goals:

Making Trade Easier

They agreed on a plan to lower tariffs. Tariffs are like taxes on goods that cross borders. This plan was called "Early Voluntary Sectoral Liberalization" (EVSL). It aimed to reduce these taxes across 15 different types of industries. Nine of these industries were chosen as top priorities.

Strengthening the Economy

Another big goal was to make sure the world's economy was stable. They talked about how the International Monetary Fund (IMF) could help with this. The IMF is an organization that works to keep the global financial system healthy.

Improving Customs

Leaders also discussed how to make customs procedures better. Customs are the rules and processes for goods entering or leaving a country. The goal was to make these processes much smoother by the year 2000.

Concerns Raised

During the APEC meeting, some people protested. Later, a report looked into how these protests were handled. This report found that there were concerns about the force used by the police during the events.

Attendees at the Meeting

Many important leaders from different countries attended the 1997 APEC meeting. They came from countries all around the Asia-Pacific region. These leaders included prime ministers and presidents, all working together for economic cooperation.

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