Asia-Pacific Economic Co-operation (APEC)
Origin and Aims. APEC was originally established in 1989 to take advantage of the interdependence among Asia-Pacific economies, by facilitating economic growth for all participants and enhancing a sense of community in the region. APEC is now the premier forum for facilitating economic growth, co-operation, trade and investment in the Asia-Pacific region. APEC has a membership of 21 economic jurisdictions, a population of over 2×5bn. and a combined GDP of US$19trn. accounting for 47% of world trade. APEC is working to achieve what are referred to as the ‘Bogor Goals’ of free and open trade and investment in the Asia-Pacific area.