ABOUT APEC

Asia-Pacific Economic Cooperation (APEC) is a forum for 21 Pacific Rim member economies that promotes free trade throughout the Asia-Pacific region. It 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

An annual APEC Economic Leaders' Meeting is attended by the heads of government of all APEC members except Republic of China (Taiwan) (which is represented by a ministerial-level official under the name Chinese Taipei as economic leader.  APEC has three official observers: the Association of Southeast Asian Nations Secretariat, the Pacific Economic Cooperation Council and the Pacific Islands Forum Secretariat.

Member Economies

1. Australia
2. Brunei
3. Canada
4. Indonesia
5. Japan
6. South Korea
7. Malaysia
8. New Zealand
9. Pholippines
10. Singapore
11. Thailand
12. United States
13. Republic of China (Taipei)
14. Hong Kong
15. People’s Republic of China
16. Mexico
17. Papua New Guinea
18. Chile
19. Peru
20. Russia
21. Vietnam

India has requested membership in APEC, and received initial support from the United States, Japan, Australia and Papua New Guinea. Officials have decided not to allow India to join for various reasons, considering that India does not border the Pacific Ocean, which all current members do. 

Bangladesh, Pakistan, Sri Lanka, Macau, Mongolia, Laos, Cambodia, Costa Rica, Colombia, Panama and Ecuador are among a dozen other economies that have applied for membership in APEC.

Work of APEC

1. APEC ensures that goods, services, investment and people move easily across borders. Members facilitate this trade through faster customs procedures at borders; more favorable business climates behind the border; and aligning regulations and standards across the region. For example, APEC's initiatives to synchronize regulatory systems is a key step to integrating the Asia-Pacific economy.
2. APEC works to help all residents of the Asia-Pacific participate in the growing economy. For example, APEC projects provide digital skills training for rural communities and help indigenous women export their products abroad. Recognizing the impacts of climate change, APEC members also implement initiatives to increase energy efficiency and promote sustainable management of forest and marine resources.
3. The forum adapts to allow members to deal with important new challenges to the region's economic well-being. This includes ensuring disaster resilience, planning for pandemics, and addressing terrorism.

APEC Process

1. APEC operates as a cooperative, multilateral economic and trade forum. Member economies participate on the basis of open dialogue and respect for views of all participants. In APEC, all economies have an equal say and decision-making is reached by consensus. There are no binding commitments or treaty obligations. Commitments are undertaken on a voluntary basis and capacity building projects help members implement APEC initiatives.
2. APEC's structure is based on both a "bottom-up" and "top-down" approach. Four core committees and their respective working groups provide strategic policy recommendations to APEC Leaders and Ministers who annually set the vision for overarching goals and initiatives. The working groups are then tasked with implementing these initiatives through a variety of APEC-funded projects. Members also take individual and collective actions to carry out APEC initiatives in their individual economies with the assistance of APEC capacity building projects.
3. Capacity building projects play an important role in helping translate APEC's goals into reality. By enhancing members' capacity through skills training and technological know-how, APEC-funded projects strengthen members' readiness to adopt new initiatives from electronic customs processing to regulatory reform. APEC projects also target specific policy areas from enhancing small and medium enterprise competitiveness to facilitating the adoption of renewable energy technologies in the region.
4. The APEC Project Management Unit oversees APEC-funded projects in collaboration with working groups. Funding for projects is made possible by contributions from APEC members.
5. The APEC Policy Support Unit provides policy research, analysis and evaluation to assist in the implementation of APEC's agenda.
6. The APEC process is supported by a permanent secretariat based in Singapore.