Asia-Pacific Economic Cooperation(APEC)

Asia-Pacific Economic Cooperation (APEC) is a forum for 21 Pacific Rim(refers to places around the edge of the Pacific Ocean) countries (formally Member Economies) that seeks to promote free trade and economic cooperation throughout the Asia-Pacific Region.

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.

APEC Members account for approximately  -
40% of the world's population
54% of the world's GDP and
44% of World Trade.

APEC currently has 21 members -

1)Australia(1989)
2)Brunei(1989)
3)Canada(1989)
4)Chile(1994)
5)People's Republic of China(1991)
6)Hong Kong(1991)
7)Indonesia(1989)
8)Japan(1989)
9)South Korea(1989)
10)Mexico(1993)
11)Malaysia(1989)
12)New Zealand(1989)
13)Papua New Guinea(1993)
14)Peru(1998)
15)Philippines(1989)
16)Russia(1998)
17)Singapore(1989)
18)Chinese Taipei - Taiwan(1991)
19)Thailand(1989)
20)USA(1989) and
21)Vietnam(1998)


An annual APEC Economic Leaders' Meeting is attended by the Heads of Govt. of all APEC members and the location of the meeting rotates annually among the members.

The 1st APEC Economic Leaders' Meeting occurred in 1993 when US President Bill Clinton  after discussions with Australian Prime Minister Paul Keating, invited the  Heads of Govt from member economies to a summit on Blake Island(an island in Kitsap County in Washington State,USA)

During the meeting in 1994 in Bogor,Indonesia, APEC leaders adopted the Bogor Goals that aim for free and open trade and investment in the Asia-Pacific by 2010 for industrialized economies and by 2020 for developing economies.
To meet the Bogor Goals, APEC carries out work in 3 main areas -
1. Trade and Investment Liberalisation
2. Business Facilitation
3. Economic and Technical Cooperation

Annual Meetings of the Asia-Pacific Economic Cooperation(APEC)

S No	Host Country	Location	Date
1	Australia	Canberra	Nov 6–7, 1989
2	Singapore	Singapore	July 29–31, 1990
3	South Korea	Seoul	Nov12–14, 1991
4	Thailand	Bangkok	Sep 10–11, 1992
5	USA	Seattle	Nov 19–20, 1993
6	Indonesia	Bogor	Nov 15, 1994
7	Japan	Osaka	Nov 19, 1995
8	Philippines	Manila and Subic	Nov 25, 1996
9	Canada	Vancouver	Nov 24–25, 1997
10	Malaysia	Kuala Lumpur	Nov 17–18, 1998
11	New Zealand	Auckland	Sep 12–13, 1999
12	Brunei	Bandar Seri Begawan	Nov 15–16, 2000
13	People’s Republic of China	Shanghai	Oct 20–21, 2001
14	Mexico	Los Cabos	Oct 26–27, 2002
15	Thailand	Bangkok	Oct20–21, 2003
16	Chile	Santiago	Nov 20–21, 2004
17	South Korea	Busan	Nov 18–19, 2005
18	Vietnam	Hanoi	Nov 18–19, 2006
19	Australia	Sydney	Sep 8–9, 2007
20	Peru	Lima	Nov 22–23, 2008
21	Singapore	Singapore	Nov 14–15, 2009
22	Japan	Yokohama	Nov 13–14, 2010
23	USA	Honolulu	Nov 12–13, 2011
24	Russia	Vladivostok	Sep  2–9, 2012
25
26