Introduction

A new metaphor has recently been created for APEC. For a long time, the three functions of APEC have been said to include the support of (a) trade and investment liberalization, (b) trade and investment facilitation, and (c) economic and technical co-operation. These three functions have become the “Three Pillars” of APEC, defining its unique existence and activities. In early April 2001, however, a new analogy was made in Beijing that likened the main functions of APEC to two wheels of a bicycle — the front wheel being trade and investment liberalization and facilitation (TILF), and the rear wheel being economic and technical cooperation (ECOTECH). Since then, this new metaphor has been mentioned in many subsequent APEC-related meetings. It has obviously improved upon the original “Three Pillars” concept of APEC for its dynamic forward movement, and a better sense of balance between trade and investment liberalization and facilitation, and economic and technical co-operation.

However, while this development can be seen as part of the efforts to enhance the status of ECOTECH in APEC, there are many more developments that are required to truly push ECOTECH onto a higher ground of official and popular recognition in APEC. In this short chapter, I would like to discuss some of these developments or changes that are required. However, before discussion of this point, the past achievements of APEC on ECOTECH matters and the reasons behind these achievements will be dealt with. The following section will then discuss forthcoming changes and expectations that may give the APEC forum that handles ECOTECH matters its new enhanced status. Finally, the chapter concludes with some observations on the future success of APEC as a result of these new developments.

Past Achievements in ECOTECH Matters

By now, ECOTECH is a well-known acronym in APEC. What is not well known, however, are ECOTECH's achievements in the APEC process. The ECOTECH agenda is run by the Senior Officials’ Meeting (SOM) Subcommittee on ECOTECH, or ESC. According to the terms of reference (TOR) for the ESC, this subcommittee will assist the SOM in co-ordinating and managing APEC's ECOTECH agenda, as well as in identifying value-added initiatives for co-operative action.