Asia-Pacific Economic Cooperation (APEC)

  • The idea of Asia-Pacific Economic Cooperation (APEC) was firstly publicly broached by former Prime Minister of Australia, Mr. Bob Hawke, during a speech in Seoul, Korea, in January 1989. Later that year, 12 Asia-Pacific economies met in Canberra, Australia, to establish APEC.
  • The founding members were: Australia. Brunei. Darussalam, Canada, Indonesia, Japan, Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand and the United States.
  • China, Hong Kong, China and Chinese Taipei joined in 1991. Mexico and Papua New Guinea followed in 1993. Chile acceded in 1994. And in 1998, Peru, Russia and Vietnam joined, taking the total membership to 21.
  • The membership is frozen till 2010; because of this, India is awaiting becoming its member.
  • Its headquarters are located in Singapore.
  • Current Members: Australia, Brunei Darussalam, Canada, Chile, People's Republic of China, Hong Kong, Indonesia, Japan, Republic of Korea, Malaysia, Mexico, New Zealand, Papua new guinea, Peru, Philippines, Russia, Singapore, Chinese Taipei, Thailand, United States and Vietnam.
APEC members

Purpose of APEC:

APEC is the premier Asia-Pacific Economic Cooperation forum. APEC's primary goal is to support sustainable economic growth and prosperity in Asia-Pacific. APEC is united in its drive to build a dynamic and harmonious Asia-Pacific community by championing free and open trade and investment, promoting and accelerating regional economic integration, encouraging economic and technical cooperation, enhancing human security and facilitating a favorable and sustainable business environment. Its initiatives turn policy goals into concrete results and agreements into tangible benefits.

APEC website:

Post a Comment