Asia-Pacific Economic Cooperation (APEC)
is a regional cooperative, multilateral economic and trade forum established in 1989 to leverage the growing interdependence of the Asia-Pacific.
APEC is the only international intergovernmental grouping in the world dedicated to promote free and open trade, investment, economic growth and cooperation throughout the Asia-Pacific region without requiring its members to enter into legally binding obligations.
APEC ensures that goods, services, investment and people move easily across borders. APEC is helping reduce costs from importers and exporters and improving logistics and transport networks to enhance supply chain connectivity. APEC works to help all residents of the Asia-Pacific participate in the growing economy.
APEC's key vision is to achieve the 'Bogor Goals' of free and open trade and investment in the region by 2010 for industrialized economies and 2020 for developing economies.
APEC achieves its goal by promoting dialogue and APEC member economies have an equal say and decision-making is reached by consensus.
An annual APEC Economic Leaders' Meeting is hosted by one of the 21 APEC member economies and attended by heads of government from all member economies to provide greater strategic vision and direction to cooperation in the region.
APEC is not a donor organization and activities are funded by annual contributions from APEC member economies.
Current 21 member economies of APEC are: Australia, Brunei, Canada, Chine, China, Hong Kong, Indonesia, Japan, Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, Philippines, Russia, Singapore, Taiwan, Thailand, United States and Vietnam.
Singapore is the permanent secretariat base, established in 1993 to coordinate the activities of the forum.
The official website of the APEC features publications, meeting papers, groups and topics, projects (apply for funds, project funding, projects database, tenders and RFPs) and all about APEC.