Asia-Pacific Economic Cooperation

International economic forum

Asia-Pacific Economic Cooperation (APEC) is an inter-governmental forum for 21 Pacific Rim member economies that promotes free trade throughout the Asia-Pacific region. Inspired from the success of Association of Southeast Asian Nations (ASEAN)’s series of post-ministerial conferences launched in the mid-1980s, the APEC was established in 1989 in response to the growing interdependence of Asia-Pacific economies and the advent of regional trade blocs in other parts of the world; and to establish new markets for agricultural products and raw materials beyond Europe. Headquartered in Singapore, the APEC is recognized as one of the highest-level multilateral blocs and oldest forums in the Asia-Pacific region, and exerts a significant global influence.

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