APEC overview

The Asia Pacific Economic Cooperation (APEC) is a regional grouping of 21 member economies:  

Australasia  

  • Australia

  • New Zealand

  • Papua New Guinea 

 

Asia  

  • Brunei Darussalam 

  • People's Republic of China

  • Hong Kong, China 

  • Indonesia 

  • Japan

  • Republic of Korea (South Korea)  

  • Malaysia 

  • Philippines 

  • Singapore 

  • Chinese Taipei (Taiwan)

  • Thailand 

  • Viet Nam

Americas  

  • Canada  

  • Chile 

  • Mexico

  • Peru 

  • United States of America (USA)  

Other  

  • Russia 

 

 

APEC is the leading forum for facilitating economic growth, cooperation and integration, trade and investment in the Asia Pacific region. It was established in 1989 to further enhance economic growth and prosperity in the region and to strengthen the Asia Pacific community. APEC has worked to reduce tariffs and other trade barriers to create efficient, sustainable and inclusive domestic economies, and increase exports.  

At the core of the APEC vision are the Bogor Goals, adopted in 1994 to facilitate free and open trade and investment in the Asia Pacific by 2010 for industrialised economies and 2020 for developing economies. The APEC region contains 40% of the world’s population, 54% of world GDP and 44% of world trade.  

 

APEC’s structure has:  

  • no binding commitments  

  • an open dialogue forum  

  • equal respect for the views of all participants 

  • no treaty obligations 

  • decisions on the basis of consensus  

  • commitments undertaken on a voluntary basis  

 

 

The APEC Secretariat is based in Singapore.  

 

Visit apec.org for more information.

The Australian APEC Study Centre
RMIT University
Building 69
50 Cardigan Street
Carlton VIC 3053
Acknowledgement of country  
The AASC at RMIT University acknowledges the people of the Woi wurrung and Boon wurrung language groups of the eastern Kulin Nations on whose unceded lands we conduct the business of the University. We respectfully acknowledge their Ancestors and Elders, past and present.  
 
The AASC would also like to acknowledge and extend our respects to the Indigenous people from across the lands we work, particularly the 21 economies of the Asia Pacific.  
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