APEC

The Asia-Pacific Economic Cooperation (APEC 亚太经合组织) is a regional economic forum established in 1989 to leverage the growing interdependence of the Asia-Pacific. APEC's 21 Pacific Rim member countries seek to promote free trade and economic cooperation throughout the Asia-Pacific region.

Established in response to the advent of regional trade blocs in other parts of the world, initially, with the notion to the likely dominance of the sphere of economic influences of the highly industrialized Japan in the Asia-Pacific region and for the economic interests of Australian agricultural/raw material products to search for new buyers other than the demand-declining European market, APEC works 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.

APEC's 21 members account for approximately 40% of the world's population, approximately 54% of the world's gross domestic product and about 44% of world trade.