The Asia-Pacific Economic Cooperation (APEC) is a regional economic forum established in 1989 to leverage the growing interdependence of the Asia-Pacific. APEC's 21 members aim to create greater prosperity for the people of the region by promoting balanced, inclusive, sustainable, innovative and secure growth and by accelerating regional economic integration.
The idea of APEC was firstly publicly broached by former Prime Minister of Australia Bob Hawke during a speech in Seoul, Korea on 31 January 1989. Ten months later, 12 Asia-Pacific economies met in Canberra, Australia to establish APEC. The founding members were: Australia, Negara Brunei Darussalam, Canada, Indonesia, Japan, Korea, Malaysia, New Zealand, 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 full membership to 21.
Between 1989 and 1992, APEC met as an informal senior official and Ministerial level dialogue. In 1993, former United States President Bill Clinton, established the practice of an annual APEC Economic Leaders' Meeting to provide greater strategic vision and direction to cooperation in the region.
APEC is the premier Asia-Pacific economic forum. The primary goal is to support sustainable economic growth and prosperity in the Asia-Pacific region.
APEC is united in 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. APEC’s initiatives turn policy goals into concrete results and agreements into tangible benefits.
APEC has 21 members. The word “economies” is used to describe APEC members because the APEC cooperative process is predominantly concerned with trade.
The member are as follows: Australia, Darussalam, Canada, Chile, People's Republic of China, Hong Kong, China, Indonesia, Japan, Republic of Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, Philippines, Russia, Singapore, Chinese Taipei, Thailand, The United States, Vietnam.
Editor: Han Shuang