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Asia-Pacific Economic Co-Operation (APEC)

  • Barry Turner
Part of the The Statesman’s Yearbook book series (SYBK)

Abstract

Origin and Aims. Founded in 1989 in response to the growing interdependence among Asia-Pacific economies. Begun as an informal dialogue group, APEC has since become the primary regional vehicle for promoting open trade and practical economic co-operation in the region. It aims to promote free and open trade in the Asia-Pacific region through trade and investment liberalization and facilitation; also, to promote economic and technical co-operation among its members. APEC’s 21 member economies had a combined GDP of over US$17trn. in 1998 and 45% of global trade. Mexico is the APEC Chair for 2002. Membership consists of economies rather than countries. Peru, Russia and Vietnam joined the community at the 10th APEC Ministerial Meeting held in Kuala Lumpur, Malaysia, in Nov. 1998.

Copyright information

© Palgrave Macmillan, a division of Macmillan Publishers Limited 2002

Authors and Affiliations

  • Barry Turner

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